Distressed Sales In South Florida

There are a lot which shouldn’t be a surprise to anyone.  As attorney Jeff Weis states “for banks, short sales are much cleaner than taking the property back.”  And much less expensive because you are less likely to have people stealing appliance, putting holes in walls, less in back taxes, and monthly association dues, etc. 

I just thought the statistics were interesting in this article so make sure to take a look if you care.  “Overall, more than half of single-family home sales in both Miami-Dade and Broward involved a bank-owned or short sale transaction.”  I actually thought the percentage would have been higher.  I guess that’s good. 

If you haven’t seen this video about why banks don’t like doing loan modifications it’s a must watch http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1076783 

http://southflorida.bizjournals.com/southflorida/stories/2010/02/15/story5.html?jst=pn_pn_lk