The South Florida property market is in a State of Limbo. At the end of last year foreclosures fell to their lowest in three years, but not because less people lost the ability to pay their mortgage, but because the banks are under intense scrutiny over their foreclosure procedures, as a robo-signing scandal lead to more dodgy practices and irregularities being uncovered.
Posts Tagged ‘South Florida property market’
South Florida Property Market Facing Uncertain Times
by Overseas Property Mall on Wednesday, February 16th, 2011 in Florida
South Florida Real Estate Proving to be a Hit for Foreign Buyers
by OP-Mall on Thursday, December 10th, 2009 in Florida, North American Property
South Florida property developer Joe Milton has put up $100 million of his company’s cash to set up a mortgage company to fund loans for foreign buyers, because foreign buyers are often locked out of the market if they don’t have cash. Although sixty percent of Milton’s buyers are foreign, the few loans that are being made to foreign nationals come with terms deemed unacceptable by most. However, more than half of these foreign buyers are paying everything in cash, with European and Canadian buyers most likely to reject the financing option.



