Welcome to your one-stop source for real estate services covering the Miami-Dade and Lee counties in Florida. Real estate is one of the most profitable investments one can make, and it should be a fun and rewarding experience. Here you'll find everything you'll need to buy or sell a home, as well as learn about the market value of homes you may own in the area. It is our goal to provide you with superior service at all times, so please tell us more about you! Learn About Us. Remember we are the foreclosures experts. most of our inventory are foreclosures from the forclosures auction or Bank owned REO.
When the entity (in the US, typically a county sheriff) auctions a foreclosed property the note holder may set the starting price as the remaining balance on the mortgage loan. However, there are a number of issues that affect how pricing for properties is considered, including bankruptcy rulings. In a weak market the foreclosing party may set the starting price at a lower amount if it believes the real estate securing the loan is worth less than the remaining principal of the loan. In the case where the remaining mortgage balance is higher than the actual home value the foreclosing party is unlikely to attract auction bids at this price level. A house that went through a foreclosure auction and failed to attract any acceptable bids may remain the property of the owner of the mortgage. That inventory is called REO (real estate owned). In these situations the owner/servicer will try to sell it through standard real estate channels. Sometimes discounting the prices at bargain prices... Some individuals and companies are engaged in the business of purchasing properties at foreclosure sales. Distressed assets (such as foreclosed property or equipment) are considered by some to be worthwhile investments because the bank or mortgage company is not motivated to sell the property for more than is pledged against it. The number of households in foreclosure increased 79 percent in 2007, with about one of every 100 U.S. households at some stage of the foreclosure process, according to the latest numbers from data aggregator RealtyTrac. According to the detailed statistics the foreclosure rate (number of foreclosures available, see the picture) in the US is constantly growing and this situation is favorable for the foreclosure investment. foreclosures...foreclosures...foreclosures...foreclosures... the only way to buy at the right price