CoreLogic’s most recent numbers show a significant decrease in the amount of foreclosures in the West Palm Beach / Delray Beach / Boca Raton market compared to last year. The foreclosure rate in July 2014 was 4.41% and in July 2015, it fell to 2.28%, according to the property information and analytic company. With fewer foreclosure listings than last year, it’s a good indication that people are buying homes. In fact, the foreclosure rate in the area has been on the decline for the past 18 months.
Real estate experts say that one of the reasons we’re seeing fewer foreclosures is because banks are selling homes with the buyer in mind. Homes are going up in value and buyers are feeling more confident making that big purchase. The increase in demand has caused developers to build new homes and condos. CoreLogic’s data revealed that Florida, as a whole, is behind the national foreclosure rate on average. Sitting at 2.71% compared to 1.26% across the U.S.
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Choosing the right attorney can make the difference between whether or not you can keep your home. A well-qualified Miami foreclosure defense attorney will not only help you keep your home, but they will be able to negotiate a loan that has payments you can afford. Miami 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 website at www.miamibankruptcy.com.