Even though Florida still leads the U.S. foreclosure market, the hardest-hit markets now enjoy the biggest gains in home values, so says the Sun Sentinel- June 4, 2017. Real Pro can help you navigate the sometimes complicated foreclosure investment process in Florida from start to… start profiting!

Foreclosure investments have made more money for smart investors in Florida than anything else in their portfolio. Why? The more homes in foreclosure, the lower the prices are likely to be. Buy low, sell high is the simple and timeless formula for financial success. Real Pro knows where to find the best deals in Florida and how to help you make the most money with real estate!

SmartAsset.com developed a ranking system according to where the best deals are, given the foreclosure and redemption laws in each state as well as changes in home values, population and housing stock. Its conclusion: Look toward coastal states and retiree states. The only states on SmartAsset's list that are not on a coast are Nevada and Arizona. But guess which state made the TOP of the Foreclosure Investment Property list… Florida!

Here’s what they say in an April 2017 article, “Florida may be your best bet if you are looking to buy a distressed property. The Sunshine State has the highest foreclosure rate in the country at 7.9% and around 3.64% of all mortgage debt is delinquent past 90 days. Not only is there plenty of distressed property in Florida, but real estate in Florida is a good investment as well. In the past five years, median home values in Florida have jumped almost 20%.”
In some Florida counties, huge spikes mean that home values have more than doubled compared to 2012, according to Zillow. But, that doesn’t mean there isn’t room for more growth, especially when it comes to foreclosure investments in Florida. But if you want to buy a foreclosure, Real Pro suggests you also understand the foreclosure laws in Florida, before you make a purchase.

Florida is a mortgage state with a judicial foreclosure process, which requires the foreclosure process to go through the courts. This can be time-consuming. Depending on the court schedule, it usually takes 180-200 days to effectuate an uncontested foreclosure. This process may be delayed if the borrower contests the action, seeks delays and adjournments of hearings, or files for bankruptcy.

The pre-foreclosure process starts when the owner is first legally notified that he or she is in default and the property can be sold by the bank or other holder of the debt. Often this will result in a short sale , wherein Real Pro works with investors to get the bank to agree to a lower price than what's due on the foreclosure investment property.Or, you can wait until after the foreclosure and redemption period.

The redemption period is the time during which the original owner is given the opportunity to buy back the property that was sold by the bank as a foreclosure. This adds risk to any purchase of a foreclosed home. However, the redemption period in Florida is very brief. Typically, the court has 10 days after the foreclosure sale date to approve the sale. During those 10 days, the borrower has the right to redeem the property by paying all outstanding loan amounts, fees and costs. But, if they had the money, the debt would have paid a long time ago. Now is the time to invest in foreclosure properties!

Real Pro knows Florida real estate and can help you with foreclosure investments, call today!

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