Florida Foreclosure Homes: Offering Buyers Golden Opportunities

by Donald Hanz on States

Market conditions are just perfect for investing in these Florida foreclosure homes. Contrary to what other people believe, investing during these times is actually a smart thing to do. Asking prices are at their lowest and sellers are even willing to lower their list prices further. If you are still thinking twice whether it is indeed the right time to buy these homes, then you should take note of the following facts.

Home Values Are at a 16-year Low

According to Standard and Poor’s Case-Shiller national housing price index, Tampa, Florida was among the cities that suffered one of the sharpest declines in the nation since 1991. The other cities included Minneapolis, Las Vegas, Detroit, Charlotte, Boston, Cleveland, New York, Seattle, Portland and Dallas. The drop in home prices actually signifies that now is the prefect time to invest in Florida foreclosure homes.

Tight Credit Conditions

Predatory lending practices played a major role in the current mortgage industry crisis. This is one of the reasons that tight credit regulations are being implemented throughout the state. Although this may look like it is not favorable to buyers, it actually is. By tightening lending guidelines, mortgage borrowers will be protected. At the same time, they will only be allowed to borrow loan amounts that they could afford and manage easily.

Expansive Inventories

Applying the law of supply and demand, the number of foreclosure homes in Florida will provide buyers with a large selection of properties to choose from. The great supply is more than enough to generate much consumer interest. On the other hand, sellers are competing against each other, hoping to catch the attention of these buyers. For the best selection of bank foreclosure properties, check out updated listings from the well-trusted Bank Foreclosures Sale.