Miami Real Estate Investment » Foreclosures

By: Miami Real Estate Investment  06-Dec-2011
Keywords: Real Estate, Real Estate Investment

Miami Real Estate Investment » Foreclosures

7 other states round of the top 10 for foreclosures and they were Florida, Idaho, Utah, Georgia, Michigan, Colorado and Illinois.

California, Florida, Arizona, Nevada, Illinois and Michigan accounted for over 60% of the nation’s total foreclosure activity in the 3rd quarter.
California accounted for nearly 27% of all the nations’ foreclosures, With 250,054 properties receiving foreclosure filings

Although Florida’s foreclosure activity decreased 1% from the previous quarter, the state still has the second highest foreclosure postings at 23%. However default notices did decrease 6% from the previous quarter and REOI increased 16%.

The third highest foreclosure postings where in Arizona with 50,300 filing an increase of 5%.

The Other states in the top 10 for foreclosures were Georgia (33,385), Texas (29,838), Ohio (29,645), and New Jersey (18,108).

Keywords: Real Estate, Real Estate Investment

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Miami Real Estate Investment » Buyers

Condo Associations throughout Miami and South Florida are under great financial pressure caused by the NON payment of maintenance fees by owners who have stopped paying. Another tragic result of a delinquency rate of over 15% is that banks and lending institutions will not allow loans to be made for apartments in these condos. With the amount of foreclosures hitting an all time peak it is not only the defaulting home owners who are suffering.