Florida Real Estate News | Henri Frank Group at Remax Preferred
The real estate agents of the Henri Frank Group at REMAX Preferred take an active role as realtor consultants throughout the processing of buying a home in Fort Lauderdale, Wilton Manors, buying a home in Oakland Park, Hillsboro Shores, Plantation, buying a property in Miami and buying a condominium in Miami Beach.
Florida Real Estate Sales: 21% of all property sales were foreclosure-related properties
According to data released from RealtyTrac, close to 25% of all home sales in the United States have reached some state of foreclosure in the second quarter of 2012. The RealtyTrac firm keeps track of properties that have reached the foreclosure stages and noted that 23% of properties sold in the second quarter of 2012 were owned by lenders or at some point of the foreclosure process.
Although the housing market has indicated some growth with the average home prices increasing, the amount of sales that involve properties in some state of foreclosure has increased from 22% in the first quarter and 19% from the second quarter of 2011. The number of sales of foreclosed homes has decreased to 224,439 from April to June, 12% from January to May and has decreased 22% compared to calculations in the second quarter of 2011.
The lack of supply has caused home prices to increase. The average price of foreclosed homes in the second quarter was #170,040 which is a 6% growth compared to the first quarter and a 7% increase from last year. The drop in the amount of sales of homes in some stage of foreclosure has helped to make way for the first annual decline after five consistent quarters of year-to-year growth. The average price of homes have increased this year for the first time since the second quarter of 2012. According to reports released from RealtyTrac, we’re now witnessing the largest average price increase since October to December of 2006.
Sales in the second quarter have been the statistical proof of statements provided by agents, investors, and buyers this year which have stated that there is a limited offering of foreclosure properties on the market. According to data released from RealtyTrac, 43% of all residential home sales in Nevada and Georgia throughout the second quarter of this year were in some stage of foreclosure.
The state of California posted the highest percentage of foreclosure sales at 40%. Nine additional states recorded that at least 20% of sales were properties in some stage of foreclosure.
1. Florida and Oregon 21% of all sales were foreclosure-relate properties
2. Minnesota, Wisconsin and Colorado 22% of all sales were foreclosure-relate properties
3. New Hampshire 24% of all sales were foreclosure-relate properties
4. Illinois 27% of all sales were foreclosure-relate properties
5. Arizona 33% of all sales were foreclosure-relate properties 6. Michigan 35% of all sales were foreclosure-relate properties
The Henri Frank Group at Remax Preferred is located at 2810 E Oakland Park Boulevard, Fort Lauderdale, Florida. Also, offices at 2166 Wilton Drive in Wilton Manors, Florida and 2 University Drive in Plantation, Florida and on Ocean Drive at the Hillsboro Inlet to the Hillsboro Mile in Hillsboro Shores, Florida. Call 954-604-9999 or go to their website at http://henrifrank.com or find the Henri Frank Group on FACEBOOK, Twitter, Pinterest and other social media. For knowledgeable, experienced, professional Realtors, contact Henri Vezie and Frank Vigliotti of the Henri Frank Group today. We are a group of Realtors who know the market and can assist you with all your real estate needs.