Foreclosure Filings are Down

 

Brevard County foreclosure filings were down for May 2009.  There were 770 filings last month. April had 851 and in March there were 963. To date 2009 has seen 4297 foreclosure filings.  In 2008 we had 9228 for the year. These numbers are for filings only.  They don’t indicate the total number of foreclosures.

Are the numbers down because more owners have been able to short sale their properties?  A short sale is when a bank or mortgage company agrees to take a lesser amount than the outstanding balance of the mortgage.  The property is sold because of a financial or economic hardship.  We are finding that many lenders are receptive to a short sale as it costs them considerably less than a property that goes into foreclosure. Some are even opting for a deed in lieu of foreclosure.

Foreclosure filing fees in Florida increased on June 1 from $295 up to $1,900. The amount is determined on the price of the home.

The Melbourne Association of REALTORS estimates that one quarter of home sales today are short sales.

NOTE:  It is recommended that a seller contact an attorney, legal counsel or an accountant prior to doing a short sale to determine how a short sale will effect their individual situation.

This article is authored by

Sandy Shores REALTOR®  , Melbourne FL Real Estate

Brevard County Real Estate & Investing

I also buy, sell, rent, own and manage Investment Property.

Brevard County Foreclosure Filings Were Down

 

Statistics indicate that Brevard County Florida foreclosure numbers dropped for February 2009, compared to previous months. The Clerk of Courts office indicated there were 807 filings.  January numbers were 875. The numbers for these 2 months is a 14% increase compared to January and February of 2008.

We had heard that many lenders across the nation had been holding off on foreclosure filings, waiting to see what the government bailouts would bring. They were also hoping to try to work directly with homeowners on loan modifications or special payment plans.

The government is hoping to reduce the number of foreclosures going on the market, as the large inventory tends to drive home prices down. 

A homeowner must usually be at least 3 months behind on their mortgage payments for them to receive a foreclosure notice.  Not all foreclosure notices that are mailed out turn into homes that go actually go into foreclosure.  An owner can work with their lender to see if they can work out a plan to avoid the foreclosure.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News

 

If You’re Adventurous Enough, Hop On…

My older sister Jean called me.  She and her husband are staying at a friend’s timeshare in Orlando, Florida which is about an hour from us here in Melbourne. She said that since her husband is retired military she got an incredible deal on a 5 day park hopper pass to all of the Walt Disney World Theme Parks.

They have visited the Epcot Center Theme Park. I love Epcot. My girls favorite ride there is Mission to Mars. They tell you before you get on it that it’s like going up in the space shuttle.  The G – force against your body is tremendous.  Before I got on the ride I asked one of the employees if the ride spins.  The ‘nice’ employee told me to “watch the video right there M’am.”  Oh great, I just got M’amed! We couldn’t tell if the ride spun or not. The guy standing next to us had been on the ride about 20 times. He told us that it was his favorite ride. 

“No, you can’t feel it spinning at all.  It’s great!” 

Okay, after talking to about 6 people they all told me it was no big deal.  Well, I was on the ride for less than a minute and was immediately praying that the ride would be over.  They informed us that we were going to be doing a sling shot around the moon.  Oh, no, I’m going to toss my cookies for sure! Well, needless to say, the entire rest of the day my stomach was in my throat and my equilibrium was off. (Okay, I sound old, don’t I? I know, I’m a wimp!)

My sister also said they had gone to the MGM Studios Theme Park.  My girl’s favorite ride there is the Rocking Roller Coaster.  It’s goes 0 to 60 mph in 5 seconds.  The first and last time I got on that thing I’m sure that I swallowed my tongue, and never quire retrieved it until the next day!  Ugh! It was too much for me! Okay, no old jokes now!

Today my sister visited Disney’s Animal Kingdom.  Now that’s fun. They have the raft ride and if you sit in the wrong seat on that one, you’ll be soaked from head to toe!  It was great (because I wasn’t the one that got wet!) My 16 year Stephanie was dripping wet.  She dried off halfway through the day.

Tomorrow, Jean and her husband will be going our favorite park, Disney’s Magic Kingdom.   We love riding the roller coasters; Space Mountain, Thunder Mountain and Splash Mountain.  Just before the park closes, as everyone is leaving my girls ride those over and over and over again.

Don’t forget, Disney Park admission is FREE if you visit one of the parks on your birthday. Bring your ID!

Now I have to admit, I’m a bit envious that Jean and Charley are off having fun at the Disney Theme Parks in Orlando. But, they’ll be here on Wednesday, so we’ll get to see them then.

This article is authored by

Sandy Shores Realtor, Melbourne FL Real Estate

Brevard County Real Estate & Investing

Palm Bay Florida Real Estate News