Foreclosures Up….Again

July 25, 2008 at 3:21 pm · Filed under Affordable Housing, Avoid Foreclosure, Foreclosure Help, FSBO, Gulf Coast Housing, Headlines, Pensacola, Perdido Key Condo Deals, Realtor, Residential, Selling Your Home, Short Sale, The Mortgage Market

Nationwide foreclosure statistics continue to rise.

According to RealtyTrac, the number of foreclosures nationwide are up 14% over last month and over 121% over the same period last year.  For the 2nd quarter of 2008 there were more than 740,000 foreclosures filed nationwide.  That equates to more than 8000 foreclosure filings per day.

While this is a frightening statistic, there is a light at the end of the tunnel.  As we continue to see the bulk of foreclosures move through the system, a bottom in the housing market is eminent.  Some estimates claim that we will see a bottom before the end of the year.  For some areas of the country, the bottom has already come and gone.

This long term outlook is good for just about everyone except potential buyers.  Those who wait for a bottom before buying may very well lose any gains through the monthly payment as mortgage rates have now risen to the highest level in almost a year.  Over the last 9 months, we have seen the best buying opportunities available in decades, and those opportunities are going to become more scarce as we get closer to a bottom.

For those sellers still experiencing pain with their home, check out PreForeclosureFSBO.com.  There you can find resources to help sell your home through a short sale and avoid foreclosure with the help of a nationwide database of investors, and help finding a local professional to get the job done.

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Perdido Key Condo Deals – Purple Parrot

June 22, 2008 at 6:39 pm · Filed under Condos, Purple Parrot, Short Sale

Purple Parrot Village Resort in Perdido Key gives you the feeling you have just stepped onto a carribean island.  With its unique cottage style bungalos and huge lagoon style pool, it is hard to believe that you can get a piece of this paradise for little more than $100,000.

With the rise in foreclosure rates, and a sluggish economy, vacation properties such as Purple Parrot have had challenges recently.  The good news is that because of this, a unique buyers opportunity has been created where you can own one of these island living gems for half of what they were selling for just 3 years ago.

You can find several of them listed as preforeclosure short sales at www.PreForeclosureFSBO.com.  If you are in the market for an investment property within walking distance to the beach, this is possibly the best deal available on the key right now.

For a local real estate professional specializing in beach properties on Perdido Key, go to SteveOnTheKey.com.

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Perdido Key Condo Deals – Laplaya

June 13, 2008 at 9:00 am · Filed under Condos, Laplaya

Now is the time to get a steal on waterfront property.

Laplaya on Perdido Key is a beautiful 13 story condo located directly on the beach on Perdido Key, and there are units priced as low as $283 / square foot.  For those of you in different parts of the country, this may sound like a lot, but I assure you it is not.  To be under $300 / square foot is quite impressive for a luxury waterfront condo, and this is yet another example of the deals that can be had today as the result of a foreclosure.

One of the more distinguishing characteristics of Laplaya is the huge wrap around balcony.  It is hard to tell from the picture above, but the end unit balconies are some of the largest of any building in the area.  Laplaya with it’s sweeping views of the Gulf and first class amenities is a must see for any condo investor.

For a local real estate professional specializing in beach properties on Perdido Key, go to SteveOnTheKey.com.

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