Florida Foreclosures Down 59%

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Mon, May 16, 2011 at 8:15AM

Do not assume that people are finding their way out of foreclosure in the State of Florida.  While foreclosure filings are down 59% and it may appear that people are saving their homes, the facts are that banks, lenders and mortgage companies are taking longer to process foreclosures. According to the Florida REALTORS there is a  back log of foreclosures and the reality is in order for the market to stabilize these properties will need to be released.  Regardless, you can still get a great deal in Daytona Beach real estate as well as any of the surrounding areas in Volusia County.

For Home Buyers:  Remember real estate is local.  That means it would be imparative for to have local market facts about homes for sale in Daytona Beach.  Many speculators say to wait, however, prices are fantastic now and so are interest rates.  Right now regardless of whether you choose to buy a Daytona Beach foreclosure or a short sale these homes are priced for quick sale.  As far as normal homes on the market or fair market value homes, these homes compete with short sales and foreclosures and are great deals as well and the upside, you do not have to wait for 3rd party approval or a banks approval to buy a great deal in Daytona Beach.

For Home Sellers:  If you are currently behind on your mortgage and are possibly facing foreclosure, please call me before allowing the bank to take your home.  As a Daytona Beach REALTOR who specializes in short sales and understands the painful process of making the decision to either keep the home or let the bank foreclose on the property, call me!  I know its painful and difficult to face but there is hope and a Daytona Beach REALTOR who wants to help! 


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