I just took a quick look at the amount of bank owned South Beach condos and how it changed since Q3 2009 As you can see from this graph is that the amount of foreclosures for sale as well as the amount of foreclosures sold in past couple of months has pretty much doubled. Currently…
Tag Archive: foreclosures
De-mystifying short sales and foreclosures
By now you’ve definitely heard a lot about so called “short sales” and “foreclosures”. In my market area, which is Miami Beach, Florida,roughly 25% of all Miami Beach condos that are being sold are either short sales or foreclosures. In some other markets, this number could be as high as 75-80%. In either case, the…
South Florida Foreclosure Filings Drop 7% in January – Real Estate Channel Global News Center
MIAMI, FL — According to a new report from Condo Vultures, lenders initiated 7 percent fewer foreclosure actions in South Florida in January 2010 on a year-over-year basis, with total filings slipping for the month below 5,800 in the tricounty region.By comparison, in January 2009 there were nearly 6,200 foreclosure actions – also known as…
More Wealthy Default on Their Mansions – The Wealth Report – WSJ
By Robert Frank The sub-prime crisis has turned into the super-prime crisis. Homeowners with mortgages of more than $1 million are now defaulting at nearly three times last year’s rate, according to a Bloomberg article. Payments on about 12% of mortgages exceeding $1 million were 90 days or more overdue in September, up from 4.7%…
Mortgage delinquencies forecast to peak, subside in 2010
PHILADELPHIA — After three straight years of dramatic leaps in mortgage delinquencies, the tide should finally turn next year, according to a new forecast by TransUnion, the credit-reporting company. The company also expects credit-card delinquencies to decline through most of 2010. TransUnion projects that the portion of U.S. homeowners who are at least two months’…
