The Miami Press reports on new guidelines coming out from the U.S. Treasury that will place a 10 day limit on bank approval for a short sale. These guidelines cover mortgages for institutions participating in the Home Affordable Modification Program including JP Morgan Chase and Bank of America.
[more] →The St. Petersburg Times reports that the bottom feeding foreclosure workout firms will face significantly more scrutiny in Florida. These workout specialists promise miracles, typically charge a desperate homeowner a large upfront fee and then don’t do anything to help save the home from foreclosure. Here locally, there are firms operating in under the guises [...]
[more] →The Sarasota Herald Tribune reports on short sale flipping fraud that is becoming more prevalent here in Southwest Florida. In a nutshell, real estate professionals and investors are teaming up to by undervalued distressed properties from banks and then immediately flipping the property to a new buyer at a hefty increase. The short sale flippers [...]
[more] →According to a recent USA Today article, only 23% of short sale deals actually ever close. This figure came from a February 2009 survey by Campbell Communications of 1,300 Realtors. More than 90% of the agents cited slow responses from the lender as the reason that short sales were lost. These figures certainly jive with [...]
[more] →One of Florida’s major title insurance companies, Attorneys Title Insurance, announced that they will no longer insure transactions involving a short sale option contract. A short sale option contract is a technique being used by opportunists to buy a short sale from a bank at below market value and then flip to a true buyer [...]
[more] →The New York Times covers the economic challenges facing Southwest Florida, and in particular Lehigh Acres in an article titled In Florida, Despair and Foreclosures. The article details the boom years and what has occurred since the real estate market busted. This article is a must read for anyone that has an interest in the [...]
[more] →According to statistics released by Realtor.com, the official website of the National Association of Realtors, real estate web searches in the greater Fort Myers area increased by 57% in October 2008 vs. October of last year. We are seeing similar trends on our www.greaterftmyers.com site. Searches with significant consumer interest are for short sale and [...]
[more] →I was just reviewing stats for my web site, www.greaterftmyers.com to see what pages buyers have been looking at over the last 30 days. As has been the case for the past several quarters, Fort Myers foreclosures, Fort Myers short sales, Cape Coral foreclosures and Cape Coral short sales topped the list. There certainly is [...]
[more] →Fort Myers MLS Map Search
recent comments