This page was written, edited, reviewed & approved by Emil J. Fleysher following our comprehensive editorial guidelines. Emil J. Fleysher, the Founding Partner, has 15+ years of legal experience as a bankruptcy attorney. Our last modified date shows when this page was last reviewed.
Foreclosure discounts in South Florida are actually shrinking. Continue reading to find out more.
The past year has seen heavy competition between potential buyers of foreclosed homes. The result of this is that the average price for a foreclosed home in Florida is nearly the same as for a non-distressed home. Nationally, bank-owned property price discounts fell to 7.7% from 9.1% a year ago. The smallest foreclosure discounts has led potential buyers into bidding wars over the shrinking number of foreclosure properties available for sale. Buyers in Palm Beach, Broward, and Miami-Dade counties received just a 2.9% discount, down from 6.8% a year earlier. The Phoenix and Las Vegas markets have rebounded. They did this to the point of there being no discount for purchasing a foreclosed home. Pittsburgh and Cleveland have the best foreclosure bargains of 27.4% and 25.8% respectively.
If you have questions about foreclosure, loan modification, bankruptcy, or other alternatives, please feel free to call my office at 888-886-0020. Or, send an e-mail to emil@fleysherlaw.com, or complete the contact form below.
Emil specializes in consumer bankruptcy, debt settlement, and mortgage modification, offering a holistic approach to solving mortgage and debt problems. Emil listens to clients, understands their circumstances and goals, and helps them make the right choices by presenting all options and contingencies.
He is dedicated to helping South Floridians regain their financial freedom from overwhelming debt caused by high interest credit cards, bad mortgage loans, and uninsured medical expenses.
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