Approximately half of South Florida homes that sold in December did so at a loss for the seller. Statewide, close to half of all homes also sold at a loss in December. It is becoming much more evident just how much home values have fallen in South Florida since the peak of the market. With mor
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03/12/2010
As foreclosures begin to rise in the luxury home market, an increasing percentage of these properties are being sold at auction. In 2009, close to 19000 homes with values exceeding $ 1 million were in some stage of foreclosure. This represents a 160% increase from 2008. At the same time,
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03/11/2010
Seeking options for dealing with the nations increasing foreclosures, industry executives are looking at alternatives that before would have never been considered. Citigroup, for example, is now allowing delinquent borrowers who do not qualify or refuse for existing programs to remain in their
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03/04/2010
It was just reported that the number of homes in the US now facing foreclosure jumped 15% in one year and that another wave of debt ridden homeowners could be adding to those numbers in the months ahead. In 2009, approximately 2.8 million households were threatened with foreclosure. This yea
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02/18/2010
Financial institutions are saddled with a potential loss of over $300 billion or more in commercial loans that will be coming due over the next several years. These enormous losses could actually cause banks to fail and create enormous challenges for cities that will be left with abandoned buil
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02/14/2010
In a further sign of home market value declines and defaults, US prime jumbo mortgage defaults reached 9.6% up from 9.2% in December of 2009. This represents the 32nd straight increase for delinquencies in jumbo mortgages. Jumbo loans currently range from $417,00.00 to $729,750.00 in high
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02/09/2010
Having gone before the Miami-Dade County property tax appeals panel to dispute property taxes, I understand how challenging it can be to get your property taxes lowered. It all but seems that those who raised our taxes during the boom are having a much harder time lowering these assessments
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02/03/2010
Since the beginning of 2007, commercial real estate values in many parts of the country have declined anywhere from 30% to 50 %. While this has caused financial pain and loss for many. It is widely believed that once we reach an equilibrium, a pent up demand for commercial properties will return
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01/30/2010
Florida and California cities accounted for 17 of the top 20 cities with housing facing foreclosures in the US. Unemployment is now creeping up as a primary reason that these numbers are increasing and the forecloses have now shifted away from speculators who are turning over properties to bank
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01/29/2010
As unemployment grows and the financial strains of the US homeowner widens, it is now predicted that a record 3 million homes will be repossessed by lenders this year! This is expected to be the peak year and the main reasons are unemployment, and housing values that have fallen far below mortga
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01/28/2010
