Home sales have continued to rise in the past couple of month nationwide. In Broward County it is no different. Those who are attempting to sell their properties are finding that there are a lot more self-assured buyers with the now steading housing market. The interdependence between buyers and sellers will unravel the economical housing options in Broward.
Although bankruptcy is an uncomfortable process to go through, has given many people a fresh at finances. One of the key points in being given financial freedom is that you must be completely honest during the bankruptcy process. One couple in Palm Beach is now facing criminal charges for trying to conceal valuable goods from bankruptcy court.
The Florida Attorney General’s Office declared that Bank of America will be providing a billion dollars for relief to approximately 17,000 Floridians over a settlement for mortgage security fraud. $16.65 billion was paid by Bank of America Corp to finalize the investigation for sale of harmful mortgage securities by federal, Florida and other states during the housing bubble.
In the past 36 months developers of the Greater Downtown Miami area have announced their plans for creating 65 new Towers while the Fort Lauderdale area has sat by unproductive. This, however, was changed with news released last week. In a report provided by the Sun-Sentinel, the partnership group that manages the Galleria Mall in Fort Lauderdale has disclosed a Billion reinvention plan.
According to Metrostudy Research Firm, South Florida ranks among the top markets of home construction. The tri-county area is ranked ninth in the country after a nationwide survey was conducted of nearly a thousand communities, including job and population growth with housing evidence. The construction business is doing very well right now because there is a high demand for new homes but the supply minimal which allows for homebuilders to work the market to their favor.
South Floridians are feeling the pain when it comes time to pay their landlords. Rent is taking a larger sum out of their paychecks than nearly anywhere else in the country, and there is no sign of relief in sight. It takes 44 percent of your earnings, typically, to pay rent in South Florida.
Palm Beach County home sellers are putting big price tag on their homes. According to Trulia.com the asking prices for the properties have increased 14.5 percent in the area compared to August of last year. They are the fourth raking region in the nation. Lakeland took third place with 14.8 percent increase, and Birmingham, Alabama and Miami-Dade County tied at 15.6 percent.
In July, South Florida was among the regions with the highest foreclosure rates in the Country. One in every 421 homes had a foreclosure filing throughout Miami-Dade, Broward, and Palm Beach County. The tri-county is ranked fifth throughout Florida. Palm Bay-Melbourne was among the top with one in every 404 homes in foreclosure, Orlando was second with one in every 357, but Ocala was first with one in every 296 homes.
Brand new foreclosure filings have gone up 24 percent in comparison to the beginning of the year. This increase is the first annual one since the beginning of 2013 and it is believed that this is part of the foreseen tsunami of homes that will be taken away. There were 6,468 foreclosures in August; a 74 percent boost from July reported RealtyTrac, a company that records foreclosures throughout the country.