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Fleysher Law Blog

New Home

South Florida in the Top 10 Markets of New Home Sales

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. This was after conducting a nationwide survey of nearly a thousand communities, including job and population growth with housing evidence. The construction business is doing very well right now. The reason is that there is a high demand for new homes. But, the supply is minimal

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South Florida Rent

South Florida Rentals are Going Sky High

South Floridians are feeling 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. This is 14 percent more than the average throughout the country stated Zillow.com. San Francisco and South

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real estate market in South Florida

Palm Beach County Makes The Top 5 Highest Asking Prices In The Nation

The real estate market in South Florida is changing drastically. Palm Beach County home sellers are putting big price tags 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 a 14.8 percent increase, and Birmingham, Alabama, and Miami-Dade County tied

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foreclosures in Florida

Florida Foreclosures Go Up In Over A Year

The number of foreclosures in Florida is increasing. 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, the belief is 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,

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scash sales

Good News South Florida: Less Cash Sales

A report provided by the Realtors Association of the Palm Beaches states that investors, which predominately purchase properties in cash only, i.e., who do cash sales, are at the lowest point in several years. Cash deals are a characteristic of investors and it helps differentiate them from homebuyers who customarily require mortgages. These sales went down by 11.5 percent in July compared to the beginning of the year. But, they

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Foreclosure Rate in Florida

Florida Foreclosures Still High But in Decline

For Florida, it may be a turning point in the foreclosure rate and crisis. When compared year to year, the foreclosure rate in Florida is down nearly 37%. This makes it the lowest it has been since 2008. That equates to fewer than 4 million people who are not current on their mortgage. In Florida, 12% of homeowners with mortgages are not current on their payments. This ranks Florida the

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FHA

FHA Mortgage Applicants with Recent Foreclosures Offered a Pass

The Federal Housing Administration (FHA) has instituted a new program. Its name is “Back-To-Work-Extenuating Circumstances” to assist potential borrowers who faced financial hardship during the recession. This program, which began August 15th, 2013 provides a second chance for mortgage applicants. For those who have experienced financial hardship such as unemployment. Or, a severe reduction in income beyond the borrower’s control. The purpose of this program is to assist borrowers with

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new foreclosure filings

New Foreclosure Cases Down from May 2012

According to the Clerk & Comptroller’s office, new foreclosure filings in Palm Beach County have dropped. This when compared with June 2012 and May 2013. Last June Palm Beach County had 1,249 new foreclosure filings. Meanwhile, this June saw only 1,001 new filings, a 19.9 percent decrease. New filings also decreased 6.2 percent in June compared with May of this year. According to Clerk Bock, “In June we saw the

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Nationwide Foreclosure Statistics

Florida Remains a Leader in Nationwide Foreclosure Statistics

Nationwide Foreclosure Statistics are alarming for Florida. Florida remains tops in the nation for the highest percentage of distressed homes. And, the number of completed foreclosures, a new report has found. The state’s foreclosure inventory (properties in some stage of foreclosure) stood at 8.6% of all mortgaged homes in June, real estate data provider CoreLogic said Tuesday. While that rate is down from a revised 8.8% in May and from

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Daunte Culpepper

Former Miami Dolphins QB Daunte Culpepper Surrenders Florida House in Foreclosure

Daunte Culpepper’s 2006 signing with the Miami Dolphins was so disastrous that the repercussions are still being felt. In a foreclosure case, the former NFL quarterback has lost a home. He bought it for about $3.6 million back when he was traded to the Dolphins. Daunte Culpepper surrendered the nearly 10,000-square-foot home to SunTrust Bank back in April in lieu of foreclosure, Broward County court records show. And, the bank

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