Recent statistics show that Florida has quite a logjam on its hands due to foreclosure filings. The count includes approximately 44,000 cases in Broward County alone, according to the Office of the State Courts Administrator.
Florida real estate investors looking for a lesson in purchasing strategy will be interested to hear of a 14-year-old girl who snatched up a 679-square-foot home in Port Charlotte for $12,000.
In an earlier post, we noted the encouraging trend of new development in South Florida. Since then, there have been more signs that the national residential real estate market is improving, and it appears Florida is poised to lead the rebound.
There has been a lot of talk about the $25 billion settlement the government reached with the nation's five largest mortgage servicers. Among the 49 states listed in the complaint was Florida, where residents have been hit especially hard by mortgage foreclosures. According to reports, Florida is expected to receive $8.4 billion from the settlement.