I could not make heads or tails of the foreclosure website so i did not check these number. I looked to see if there was some sort of pattern in the people who were being foreclosed, saw nothing. This info below was supplied by one of our readers:
Mortgage Foreclosure Research System at: http://www.miami-dadeclerk.com/MortgageForeclosures/MortgageForeclosuresSearch.aspx
Between: 01/01/2007 thru 04/03/2007
5772 Documents - That's 5772 Foreclosures for first quarter of 2007 in Miami-Dade County.
Same period last year was 3001 (full year of 2006 was 13,887)
In 2005 in the same period was 3029
In 2004 in the same period was 3468
2 comments:
Hi,
So it's a general issue :)
This is a tale of one of such cases:
I'm been doing my homework as I plan to buy a SFH sometime this year.
I have been tracking like 8 houses on a weekly basis to see how they change prices. This one in particular MLS#:M1121427 was first listed at 530K !!! it's a 2/1 with an efficiency (1/1). Totally out of reality.
In the property info page you see that the property was sold on 7/06 in 476K.
In the clerk's site you see that the owner got a mortgage of 389K (she put like 80K in down.)
And went on foreclosure in feb.
Must be hard losing that much money gambling in real state :(
Unfortunely it seems she is not the only one.
To the first poster - have you looked in the city of North Miami? The neighborhood between W Dixie Hwy and Biscayne Blvd north of 135th street seems to be good opportunity. Large lots for urban SFH ( 10,000SQ FT Lots mostly ) and very convenient to lots of things. I wanted Miami Shores but sooo expensive - this area seems to be changing/improving but bottom line is it's damn convenient to so many things, Haulover Beach in 10 minutes - a real 10 minutes without Interstate, 3 Publix within 5 or 10 minutes, lots of restaurants, movies, Aventura mall if you like malls - give it a look - especially if you don't mind renovation work there are som gem opportunities.
ps. I'm not a realtor, just someone who wants to continue to see the neighborhood get better.
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