Are broker price opinions reducing the value of your home? The lender will often rely on a broker price opinion to determine at what price they will sell their REO property. Tampa Bay Online wrote an interesting article discussing this issue. I have heard of BPOs being conducted without the agent ever stepping foot [...]
The median sales price for a Florida home decreased by 31% when comparing April 2008 to April 2009 according to the Florida Association of REALTORS. The huge decrease can be contributed to the increase of home sales being fueled by distressed property sales of foreclosures and short sales.
Citing unemployment, tighter lending restrictions and the excessive inventory of homes, The Seattle Times reports in an article Home prices may be lost for a generation, that home prices throughout the majority of the country will remain depressed for some time. In Florida bank owned sales continue to drive the market. These sales continue to [...]
Information released this week by the Orlando real estate association reported 75% of April sales were for less than $200,000. This could suggest a healing real estate market according to the press release.