Bank & Government Foreclosed Properties Are Starting To Slim Down In Terms Of Real Estate Inventory
A lot of people who are not well informed about the real estate gigs in Florida are getting happy over the fact that the economy is showing signs of recovery – but little did they know that most of these home property sales are foreclosed
properties. In Miami-Dade, we can consider the foreclosed property sales are down to 15 percent. In Broward, a steady 17 percent is commendable. However, if you look at Palm Beach County’s statistics, 28 percent of sales of foreclosed properties are a huge margin!
If you are the type of person who loves checking into statistics, you can say that a lot of purchased properties in Florida were partly foreclosed property-related. 35 percent of foreclosure-related property sales is big, especially if it is just statewide.
While you can see third parties taking a lot of interest in some of the foreclosed properties in the South Florida area, it is evident that most of these properties will be taken care of to help bring the balance back into the real estate economy. As of 2011, 265,087 homes in foreclosure was bailed out by these third party companies having a different idea for the properties purchased.
Even if the number of purchases of foreclosed properties begin to shrink, having several investors and buyers purchase these properties have taken a lot of load off the back of the real estate market of Miami.