Tips for Buyers of Short Sale or Foreclosure Properties
After experiencing years of depression, Florida’s housing market is returning and contains many homes that are being marketed as either short-sales or foreclosures. For anyone interested in potentially purchasing one of these homes, the following information is critically important.
First is the condition and price of the home. Since a foreclosure occurs because the home owner stopped paying their mortgage, they were likely unable to afford to maintain the home as well.
Palm Beach County Foreclosure Statistics
The latest statistics for Palm Beach County’s foreclosure filings are in. There were 1,067 new cases filed during May 2013, down 21 percent from May 2012 which had 1,356 new filings. The amount of new cases for May was only 45 less than those filed in February of this year. There were 962 new cases filed in April, 10 percent less than May of this year and 21.3 percent less than May 2012.