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January 2014 Archives

Number of investors buying real estate in Florida goes up in 2013

Despite rising home prices, the Florida real estate market appears to remain strong. While nine percent of home purchases in Florida were made by institutional investors in 2012, this number rose to 12 percent in 2013. On a national scale, seven percent of purchases in 2013 involved investor sales. There were 5.8 percent of sales made up by investors on a national scale in 2012.

Class action involving bank loans may be resolved

One British based bank will apparently be required to pay $1.55 million to settle claims concerning alleged gouging of borrowers. Lloyds Banks was said to have offered a number of loans to individuals in a number of states including Florida. Though the money was apparently loaned subject to a principal cap along with a variable interest rate, Lloyds is accused of ignoring the cap and arbitrarily increasing interest rates as well.

Cautionary tale: when promises to homeowners are illusory

In the so-called Great Recession of recent years that has afflicted -- and continues to adversely affect -- homeowners in Florida and throughout the country, predators have emerged en masse to take advantage of cash-strapped and often desperate homeowners.

Foreclosure rates decline, but remain high in greater Miami area

Many residents of the Miami area are still hurting from the recession. While the economy is in recovery, Miami and Florida as a whole still have quite a way to go. The foreclosure rate in Florida remains above the national average, and the foreclosure rate right in Miami is much above that average.

Proposed condominium construction on the rise in South Florida

Proposed projects in the South Florida area in recent months could mean the addition of more than 24,500 condominium units. This number of units comes a long ways towards matching the number of units that were created during the real estate boom that began in 2003.