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Residential Real Estate Archives

Residential property in Florida: Strike while it's hot

Previous posts on this blog have noted the sense of a generally improving real estate market in the nation, and especially in Florida. Recent data indicates that Broward County in particular, and South Florida overall, may be at the starting gates of what could turn into a rush for prime residential real estate.

14-year-old seizes real estate opportunity in Florida

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.

Florida positioned to lead real estate market rebound

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.

Mortgage servicers required to offer more loan modifications

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.

New development in South Florida

South Florida's residential real estate market seems to be getting more appealing to developers as 22 new projects totaling 4,400 units start to get underway. This does not mean that all of the state's housing troubles are in the past, but it is certainly a very positive turn of events, one that South Florida will likely carry forward well into the future.

Floridians seek loan modifications, politicians say let banks decide

South Florida residents may have paid attention lately to the campaigning politicians who came to Florida and addressed, among other things, the troubles of the state's housing market. Struggling homeowners in Broward County and throughout South Florida are looking for ways to prevent foreclosure or complete a real estate sale without losing their nest eggs. However, the debates may have demonstrated a rather large separation between the needs of struggling homeowners and solutions politicians are proposing.

More South Floridians applying for low-interest mortgages

Buyers and sellers of residential real estate in Broward County will be interested to hear that, for the sixth week in a row, the mortgage loan interest rate averaged less than 4 percent. According to Freddie Mac, the average 30-year fixed-rate loan fell to an all-time low, at 3.89 percent, while the average 15-year rate dropped to 3.16 percent. The result? What you'd expect. More South Floridians have been applying for mortgages to take advantage of low interest rates. However, according to loan officers, personal debt, unemployment and the uncertainty of the current housing market are likely preventing many people from even applying for a mortgage.

More price predictions for Broward County real estate

Over the last few weeks, we've discussed prospective real estate prices in South Florida for 2012 and 2013. While no-one can know for sure what the future holds, paying attention to a wide range of perspectives can help buyers and sellers make informed decisions when it comes to closing on a real estate transaction.

Bank of America settlement: Florida minorities to receive payment

According to a recent decision involving mortgage lender Countrywide (now owned by Bank of America since 2008), over 200,000 African-American and Hispanic loan borrowers could receive between $500 to thousands of dollars in remuneration. A payment of $335 million is meant to settle charges of discrimination stemming from Florida's housing boom. Bank of America will make payments to borrowers nationwide, and thousands of people in South Florida are expected to receive compensation. It is likely that the lender's unfair practices against communities of color led to many needless foreclosures.

Various views on South Florida real estate in 2012

Last week, we touched on some contradictory trends that characterized South Florida real estate in 2011. For many Broward County residents who are seeking to close on a real estate transaction, the statistics reported by the Miami Board of Realtors might be a bit baffling. What, then, can Florida residents expect regarding real estate transactions in 2012?

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