During the second quarter of 2011 there was an eight percent decrease in foreclosed home sales compared to the second quarter of 2010, according to RealtyTrac. The third quarter of 2011 experienced another slight decrease of two percent, which put the average home sales of foreclosed homes at 20 percent nationwide, and 19 percent in Florida. This percentage is still extremely high in comparison to the less than five percent before the recession. The decreased number of sales can be attributed to the unraveling of the robo-signing scandal, which first surfaced in early 2010.
Surprisingly, Florida ranked seventh in the third quarter of 2011 with 19.2 percent of foreclosure home sales. Nevada ranked number one, with an average of 75 percent of home sales being foreclosed homes. The second and third ranked states, California and Arizona, averaged just over 40 percent. Many believe that Florida’s lower percentage is due to the fact lenders are often choosing to conduct pre-foreclosure sales (short sales) to avoid dealing with maintenance of properties throughout the foreclosure process.
To read more on this story visit: http://therealdeal.com/miami/blog/2011/08/24/florida-foreclosure-sales-down-22-percent-according-to-realtytrac/
Or visit: http://therealdeal.com/miami/blog/2012/01/26/foreclosed-properties-comprise-20-percent-of-all-u-s-home-sales-19-percent-in-florida/
Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Foreclosure defense attorney, Timothy Kingcade has helped many facing foreclosure alleviate their stress by letting them stay in their homes for at least another year, allowing them to re-organize their lives. If you have any questions on the topic of foreclosure please feel free to contact me at (305) 285-9100. You can also find useful consumer information on the Kingcade & Garcia, P.A. website at www.miamibankruptcy.com.
