South Florida Foreclosure Surge May Increase Available Home Inventory

by Isaac Benmergui, Esq on March 18, 2013

gavelwithhouseEvery day more homes pass through the foreclosure process in South Florida, which could increase the available home inventory for eager buyers looking for the perfect home. In the past several months, the inventory of available properties has dropped so low that bidding wars ensued for homes as soon as they were listed. The number of listings currently stands at about half of what it was a year ago.

“Every day, I look to see what homes come on the market, but I haven’t found one I like,” said Ryan Bivens, 33, of Broward, who is looking to buy. “The good ones get contracts within a day.”

One variable that could affect more homes coming to the market are large investment firms willing to pay cash before the properties get to the multiple listing services. Realtors don’t handle as many real estate transactions as they used to primarily because of the investment firms getting to the properties first, and investment firms are willing to buy in bulk.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

 

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