According to an article by Alex Veiga, the foreclosure rate is up an astounding 57% from this time last year. Florida had 30,178 homes on the foreclosure track, up about 158 percent from a year earlier and down 3 percent versus December, RealtyTrac said. What does this mean for the market? Well, in my opinion, a stealthy investor will make his mark in this sort of downturn. Contact me today so we can find a foreclosure property for you make an offer on well below market value. If the property has equity and the original purchase price of the property is below the market value, then all the bank is concerned about is recouping their investment in the loan.
Through the process of a short sale, the buyer's offer will be considered by the bank as the title holder to the property. If your offer is reasonable, then the bank will sell you the property so they don't have to worry about it. Banks don't want to invest in property, they want to lend money and make money on the interest. You, on the other hand as a buyer in the real estate market, want to make the purchase for the purpose of capital gains, tax benefits and rental income or residence. Contact me today at (786) 371-4431 so Keyes and our over 80 years of experience can help you get the most out of this rapid rise in foreclosures.
Harris W. Gilbert
(786) 371-4431
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