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February 2014 Archives

Miami foreclosure rate fell but is still above national average

The foreclosure rate in the Miami-Miami Beach-Kendall area had fallen to 8.72 percent in December.  While this is down significantly from the 14.38 percent rate we saw one year earlier, it is still much too high.  The national foreclosure rate is at 2.09 percent.  The foreclosure rate across Florida was listed at 6.67 percent in December as compared to the 10.27 percent rate in December 2013.

Florida real estate dispute goes back to eminent domain action

A proposed Florida development has been delayed by officials who say they need more time to look over project information.  The information contained in the proposal was delivered by an attorney and concerns a legal dispute, property ownership and storm-water drainage.

Commercial real estate refinanced to have more time to sell

One South Florida property owner has refinanced in order to be provided more time to sell the land. The loan has been negotiated by a Miami-based firm for $36.5 million and involves vacant tracts in Hillsboro Beach and Boynton Beach. The commercial real estate lender has provided the loan over a period of 24 months.

Home prices rose significantly during 2013

According to a home price index, home prices including distressed sales increased nationwide by 11 percent from December 2012 until December 2013.  During that same period (and excluding distressed sales), Florida home prices increased by 11.5 percent, which was the fifth highest in the nation.