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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown, foreclosure listings also settled, and fewer homes were on the market with a placard reading "Bank Foreclosure" in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down, and it makes it difficult for home owners who would like to move to get the right price for their home. If a similar home down the same street is sold for substantially less and the appraiser uses the foreclosure as a comparable sale, this will negatively impact the appraised value of your home.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone's living room harping about the price of homes based on the number of foreclosures along with an abundance of negative information which makes most people sit on the sidelines waiting for the market to implode completely or to correct itself. Meanwhile, others are buying up the foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The market goes lower with each foreclosure listing, and this is a lesson that the banks realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions. Take advantage of the foreclosure market and search for your new home with our easy to use foreclosure search, or sign up for automatic notification emails. We will be happy to notify you when new foreclosure listings become available.

HUD Foreclosures

HUD foreclosures and VA foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal, it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

Since VA and HUD are both government-owned and operated, they have less time to wait to make money back on the sale of the home. FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent only a fraction of HUD, but they are still a significant number of homes and both should be considered. 

VA and HUD have different and unique opportunities for the buyer. Both are often forgiven local taxes normally associated with the purchase of a home (this is on a county-by-count basis). Be sure to ask your title or escrow company to look into it for you before closing as this is often missed.

New Foreclosure Listings

3305 Torremolinos Ave Unit #C-43, Doral image
3305 Torremolinos Ave Unit #C-43, Doral — Costa Del Sol Condo O $350,000

Welcome home… This exquisite home is located in the highly desirables community of Costa Del Sol. This community is home to the well established Golf Course of Costa Del ...

  • 3 Beds
  • 3 Baths
  • A10787736 MLS
  • Costa Del Sol Condo O Bldg.
5740 47th Avenue N, Kenneth City image
5740 47th Avenue N, Kenneth City $100,000

Unbeatable price! This Kenneth City ranch is ready for a 21st century makeover. Design and update to your taste! This sturdy block home features a sizable lot, screened r...

  • 3 Beds
  • 2 Baths
  • U8068702 MLS
11243 Bay Street, Leesburg image
11243 Bay Street, Leesburg $154,000

Come check out this 2 bedroom, 2 bathroom updated home with a new roof this year. The inside of the home features new carpet and tile. The kitchen offers new cabinets, co...

  • 2 Beds
  • 2 Baths
  • G5023892 MLS
623 Somerstone Drive, Valrico image
623 Somerstone Drive, Valrico $199,900

A wonderful 2 story contemporary style house waiting for you to make it a home! This home features an open concept living room/dining room/kitchen floorplan. Kitchen has ...

  • 3 Beds
  • 2.5 Baths
  • L4912756 MLS
7923 Sabal Drive Unit 7923, Tampa image
7923 Sabal Drive Unit 7923, Tampa — 7923 $98,000

Very charming 3 bedroom 2 bathroom condo/townhome. This home features an open floor plan and tile floors in the common areas. Close to shopping, golf courses, USF and Fl...

  • 3 Beds
  • 2 Baths
  • T3215356 MLS
  • 7923 Bldg.
3263 Wolcott Place Unit NO, Orlando image
3263 Wolcott Place Unit NO, Orlando $183,000

Great for first time buyer-3 beds, 2 baths, fireplace, 1 story home with carport. Home needs a new owner to bring back the charm and sparkle. No association. Property so...

  • 3 Beds
  • 2 Baths
  • O5831695 MLS
1624 Ridge Avenue, Daytona Beach image
1624 Ridge Avenue, Daytona Beach $109,900

Location, Location, Location! This ranch style home is located on a private lot with over 1200 square feet of living space. Two bedrooms, quaint kitchen and a large bonus...

  • 2 Beds
  • 1.5 Baths
  • V4911125 MLS
4161 Nw 12th Ave, Oakland Park image
4161 Nw 12th Ave, Oakland Park — Twin Lakes Homes Sec 3 $243,470

Don't miss this opportunity in family oriented neighborhood! Single Family home located in desirable location. Excellent 3 bedroom and 2 bath home with one carport, lamin...

  • 3 Beds
  • 2 Baths
  • A10787614 MLS
  • Twin Lakes Homes Sec 3 Bldg.
property image
600 NE 42nd St, Deerfield Beach — Pompano Beach Highlands 6 $199,900

Handyman Special! This 2,200 sf+ home on over-sized lot has a ton of potential. The house has lots of space, vaulted ceilings in the living area and a large back yard. Ca...

  • 4 Beds
  • 2 Baths
  • F10207636 MLS
  • Pompano Beach Highlands 6 Bldg.
1719 Soaring Heights Circle Unit 2, Orlando image
1719 Soaring Heights Circle Unit 2, Orlando $335,000

Enjoy this beautiful 4BD 2.5BA contemporary with a two-car garage and a spacious backyard, all nestled within a quiet subdivision in beautiful South Orlando! The entrance...

  • 4 Beds
  • 2.5 Baths
  • S5027609 MLS
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Harry Berry Realty, Inc.
3812 Cleveland Street
Hollywood, FL 33021
954-623-7307

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