Talking to many customers and attorneys here in South Florida and New York I hear the same thing over and over. Loan modifications are not being given. It seems that in most cases after jumping through hoops to satisfy the bank with their requests that the answer to the homeowner is just about always no. Now I'm sure there are many people who just don't qualify but I wonder how many mods really could be done if the banks had a reason to do them? Probably alot.
This is important because foreclosures destroy families and neighborhoods and anything that can be done to stop them is worth doing. There has to be some way to get the banks excited about doing loan modifications for the people who qualify for them.
There are many obstacles to getting a piece of property sold these days. Such things as low appraisals, tight money and nervous buyers. These things tend to slow everything down and cause alot of stress for the sellers and all involved in the deal.
The bottom line is that properties are selling everyday and with the correct frame of mind most things can be worked out. If the seller wants to sell and the buyer wants to buy everything is possible.
Ask the buyer who closed on a great deal yesterday or the seller who just closed for a fair price today and they will tell you that the market is what it is and we got the most out of it as we could!
Properties are changing hands everyday and inventory is decreasing across Palm Beach County, Florida. The low prices and low interest rates continue to drive the market. When properties are priced correctly they are selling. Things should pick up even more now that people from other parts of the country are arriving here for a nice winter. Below are the numbers for Palm Beach County for the month of October, 2009.
Total Properties Available 22,428
Total Properties Pending 2,750
Total Properties Sold 1,698
What a great day today in Boca Raton, Florida. We had a little cold front blow in to cool us off and the weather could not be better! 73 degrees and sunny with low humidity. No wonder so many people make their second home here. Why fight the winter? Boca Raton is true paradise. Below is the average temperature and rainfall for Boca.
Month Temperature Rainfall/Inches
January 75 2.5
February 76 2.9
March 78 2.9
April 84 2.9
May 86 6.7
June 88 8.0
July 91 6.0
August 91 6.6
September 90 7.3
October 86 7.6
November 81 3.5
December 77 2.3
Happy Veterans Day to all the veterans who have served us and given up a part or all of their lives for all of us. There will be a concert tonight in observance of Veterans Day at the Mizner Park Amphitheater in downtown Boca Raton at 7pm. Say thank you to a veteran today.
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