Foreclosures in Town?
Posted by CityBlogFL on May 28th, 2007
Can anyone speak to the issue of foreclosures in Fort Lauderdale, Florida? Foreclosures are up around the country due to the sub-prime lending practices. Is there any foreclosure impact on real estate in Fort Lauderdale?
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Yes! There certainly are foreclosures in Fort Lauderdale. All types and styles. PLease let me know what you are seeking and I will find it for you.
There will always be foreclosure in any real estate market. What’s the current impact of foreclosures on real estate sales in Fort Lauderdale currently? Not what you might think it is with all the media hype being laid on. Are we seeing anything selling for .50 cents on the dollar that you WANT to own? Hell no! Depends on what YOU’re are looking for when you talk Fort Lauderdale real estate. We’re no different here. We have our good and bad qualities. But, want do you WANT to own in sunny Fort Lauderdale? Waterfront. If anyone is thinking they’re going to invest in a waterfront foreclosure and make allot of money overnight, think again. REO – Real Estate Owned Asset Managers are doing one thing consistently very well when it comes to waterfront properties (especially sailboat-accessible properties) and that is holding out till they get their dollar for a dollar’s value. What about them not wanting these properties? Lenders want to use these highly desirable to offset losses elsewhere. What are the unfortunate homeowners facing foreclosure and short sales doing where these Fort Lauderdale dream homes are concerned? I’ll be happy to talk about that, too (or any other Fort Lauderdale area Real Estate issue) before you spend you money on a bus pass and arrive uninformed with a cold.