Archives

All Posts Tagged Tag: ‘Daytona Beach Florida’

Does Bankruptcy Mean a Fresh Start in Daytona Beach, Florida?

Bankruptcy

How does Bankruptcy Affect the Foreclosure Process. Many times we get phone calls from sellers in Daytona Beach, Florida who think that just because they have filed a bankruptcy that they no longer need to worry about their properties or the foreclosures that have been initiated. This could not be further from the truth. Often times divorce attorneys and bankruptcy …

Read More

A Tale of Two Buyers!

Referral

Retail Buyer vs. Real Estate Investor Which is the better option? In our hypothetical scenario, we have two properties. They are identical.. They are sitting across the street from each other. Their respective buyers purchased their properties at the same time for the same price and they both financed their properties with an 80/20 first and second mortgage combination. We …

Read More

HB 87 & Shadow Inventory

FL Foreclosure

Shadow Inventory  The number of foreclosed homes that have been abandoned by their owners is by far the highest in Florida with 55,503 properties sitting empty and in some stage of a bank takeover. That’s 33 percent of the national total with Illinois coming second with 17,672 vacant and foreclosed homes. In a recent report from the Irvine, Calif.-based RealtyTrac, the …

Read More

Is the Housing Recovery for Real in Daytona Beach, Florida

Dpc

Is supply Raising Demand? For months, I have mentioned in passing the potential impact the so-called “shadow” inventory might have on the housing recovery and residential investors in general. While everyone knew this inventory, comprised of homes with loans more than 90 days past due that have not been foreclosed and upon and are not on the market, existed, it …

Read More

If you are looking REO’s, Hold your Breath!

Occ

Wells Fargo and Citigroup have halted the vast majority of their foreclosure sales in multiple states following the release of new guidance by the Office of the Comptroller of the Currency. The abrupt slowdown came in response to the OCC’s April release of minimum standards for foreclosure sales, which are usually the final act in the foreclosure process. Within two weeks …

Read More

Zombie Foreclosures in Daytona Beach continued….

Zombie

Zombie Foreclosures. . . According to a 2013 study performed by RealtyTrac, a real estate data company, there are currently more than 300,000 zombie properties in existence. Almost a third are in Florida, with a whopping 90,556 zombie foreclosures on the market. They exist in every market throughout the country. If you look a them creatively, they are really diamonds in the …

Read More

Foreclosures Now vs The Great Depression

FL Foreclosure

  The San Francisco Chronicle notes that it is difficult to keep track of foreclosure rates now … let alone during the Great Depression:  “Foreclosure rates of the late 2000’s are often compared with those of the Great Depression, which took place through the first half of the 1930s. However, there were no public or private agencies keeping track of …

Read More

Short Sale Valuations Impact Housing Market in Daytona Beach, Florida

Fdmc

New Policies from the GSE’s Speed up Short Sales in Daytona Beach, Florida Both Fannie Mae and Freddie Mac have implemented policies to expedite the short sales process, including new resources to help determine property values, according to panelists at a property valuation forum during the Realtors Midyear Legislative Meetings &Trade Expo here.   Short sales continue to represent a …

Read More

SB 1852 Changes Everything When You Have been Served a NOD!

Noticeofdefault

Florida uses non-judges to clear foreclosure backlog! With tens of thousands of foreclosure cases clogged in the state’s courts, the Florida Supreme Court is signing off on a plan to use lawyers — and not judges— to handle them.  The court on Thursday issued an order that will allow chief judges across the state to use “general magistrates” to process foreclosure cases. The order, …

Read More

Action Alert! Fast Tracking Foreclosures!

Noticeofdefault

This gives the definition of “Fast Tracking” a brand new meaning for a state that is leading the way in new foreclosure filings! A bill passed last week by the Florida legislature offers efficiencies and advantages to banks that may launch a major increase in foreclosures in the state known for its volatile real estate market.  The only thing standing …

Read More

Page 1 of 41234»