Foreclosures May Ease Shortage of Homes for Sale
Florida may have the nation’s highest foreclosure rate, but that’s not necessarily a scourge on the local housing market.
An increase in foreclosed properties would alleviate a severe shortage of homes for sale in South Florida, potentially giving first-time buyers and others more choices in a market dominated by investors.
“We certainly don’t like the idea of people losing their homes,” said Judy Trudel, a real estate agent for Balistreri Realty in Lighthouse Point. “But if they’re going to be foreclosed on anyway, I’m hoping we could absorb all those homes very quickly because we desperately need more properties.”
The number of South Florida homes for sale on Zillow.com has fallen by 34 percent in the past year, the real estate website said this week. Local Realtor boards have reported even steeper drops.
At the end of August, Broward had 4,784 homes on the market — down 51 percent from a year earlier.
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Shelly,
you are right on. As a RE Broker, that had 19 agents, we put folks in houses they could afford and don’t forget, each bank and mortgage company approved their incomes and debt obligations, not realtors.
As you said, when they read out all the unemployed numbers remember they once had a job that paid them enough to afford a home. Proof of this is the time spent in a home making all the payments right on time until this financial bust. Many have paid for 10 years or longer.
These folks didn’t just decide to not pay, they lost their job and couldn’t pay. What a difference in presentation between this fact and the Govt, banks and mortgage companies facts as they are DODGING the responsibility of causing this mess.
Some of us paid on our homes for over thirty years and had jobs and incomes and businesses that made enough money to pay for much more than our homes. I paid cash for my home originally and the business lost income due to these banksters each year since the crash would have paid my house off at a loss of over a hundred thousand net a year in lost business. Many of my customers suffering from this crime. And all of my customers and all Americans suffering from this crisis caused by the banksters. I was at my wealthy uncles eightieth birthday party a few months ago sitting amoung a room full of multimillionaires, all telling me there businesses were down in income the worst in sixty years. Including my uncles. These people wear jewlry worth what our homes are worth. Only the very rich can survive these criminals. The average American has very little chance not to suffer in some way, even if it is raised taxes and underwater houses wtih hugh debt slave payments for the rest of theri lives. Costco does not hire many new people. Only during the holidays does the regulars get full time hours.
“There must be some kinda way outta here…..said the joker to the theif…….there’s too much confusion….I can’t get no relief.” – Jimi Hendrix
YEAH! Policing the judges They are the obsticle to the rule of law. That is treason. Have witnesses in the court room that will expose these corrupt judges and the good judges. Put the judges on the internet. Who is going by the rule of law already in place and who is not. You want a witness in Judge Dixons court room in Thurston Countty Washington state. Rumor is Judge Dixon does not agree with the significance of the Bains V MERS decision by the WA Supreme Court and will not hold it signifcant in his court room. I did not think that was his opinion or right by the rule of law. Am I correct or incorrect ? Is the Bain V MERS case in WA Supreme Court not mandatory rule of law case law now? How can a judge choose to rule by his own biased opinion? Is that not bank law? Is that not treason and breach of oath of office?
Millions of foreclosed homes were homes the homeowner could afford until their livihoods were pulled out from under them by the outragious ponzie schemes by the banks causing the ecomomic collaspe of the world economy. These loans were not to people who could not afford them. Very few of the loans to people who could not afford them are a very small percentage of the loans. Massive people who had great incomes have an their lives destroyed by the banks. Directly by the banks. Look up Wall Street and the Fnancial Crisis; Anatmy of a financial Collaspe. A report put to gether by expert professionals for theIU.S. Senate, then thrown under the table like Americans have been thrown under the table. That 650 page report should be part of all cases and the expert witness evidence to stop this crime.
Judy, as a realtor, would like to see the deadbeats out of the way faster. That might be a bit insensitive to say in public, so socially responsible lipstick is applied to mask an industry that reeks of corruption. If we had good laws or regulations on the book, realtors would be held criminally liable for every previous homeowner they and their companies placed into homes they couldn’t afford. ‘Tors frequently conspired with loan sharks and took a lil’ more of the action during the heady days they fronted Wall Street’s full on looting. But oh no, we’d never have any consumer fairness codified into law when the industry controls the lawmakers. Not all realtors are sleazebags, but here too is a serious need for regulation.
With no jobs for Americans who iis going to buy these homes???? (investors, forigners)
Yes stealing our homes to sell to unknowning foreigners who are not aware of the destroyed land records (clouded titles, with broken chains of title and not secured by the notes that are void by contract (PSA ) law, therefore unlawfully siezed stolen properties, by parties who have no authority to mod or seize or purchase by credit bids. All unlawful and allowed by unconcionable judges standing in the way of rule of law and justice. Or unlawful seizure of homeowner property owned by the rule of law, by eminent domain, or Freddie and Fannie, or the Fed stealing the houses to conceal the fraud and rent our stolen homes to us. I would live in a tent first.
This what realtors want us to believe. Then we see the for sale signs just sit and sit and homes that have been on the market for a long period of time.