Housing Market, Miami Beach Real Estate

Housing Market May See Steep Price Drop

Shareholders were told Tuesday by Fannie Mae's CEO that the housing market is "about halfway through" its crisis and home prices could fall as much as 25% before the worst is over.

The largest U.S. buyer and guarantor of home mortgages will be able to weather the downturn and expand its business, Fannie Mae's president and CEO, Daniel Mudd, said as he and other top executives faced shareholders at an annual meeting in New Orleans.

A key Senate panel approved a $300 billion homeowner rescue plan to provide cheaper, government-backed mortgages to as many as 500,000 struggling borrowers. The legislation also includes tougher federal oversight of Fannie Mae and its smaller government-sponsored sibling, Freddie Mac.

Full Article...Housing Market, Miami Beach Real Estate

Housing Market, Miami Real Estate

A Glimmer of Good News for the Housing Market, Miami Real Estate

In April, new home construction saw its biggest increase in more than two years. it was a rare spot of good news for the housing market, Market analysts said it's still too soon to affirm an end to the lingering housing slump.

Friday the Commerce Department reported that housing construction rose by 8.2 % in April to a seasonally adjusted annual rate of 1.03 million units. However, the building of single-family homes continues to weaken. Apartment construction was responsible for the large growth.

The rebound in April is predicted to be temporary because of the head winds builders are still confronting, from slumping sales to soaring home foreclosures.

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Florida Foreclosures, Miami Real Estate

Florida Foreclosures, US Filings Rise 65% in April

“More than 1 million foreclosure homes are forecast for 2008”

“Florida had 35,264 homes reporting at least one foreclosure filing last month, a 146% jump from a year earlier and a 17% hike from March. That translates into a foreclosure rate of one in every 242 households, the fourth-highest in the nation.”

Contributing to the deepening slide in home values was a larger number of U.S. homeowners falling behind on mortgage payments last month, driving the number of foreclosure homes up 65% versus the same month last year, said a research company on Tuesday.

At least 243,353 homes received one foreclosure related filing nationwide in April, up 65% from 147,708 in the same month last year and up 4% since March, RealtyTrac Inc. said.

Among the hardest hit states were Nevada, Arizona, California and Florida with metropolitan areas in California and Florida accounting for nine of the top 10 areas with the highest rate of foreclosure, the company said.

In April one in every 519 U.S. households received a foreclosure filing increasing foreclosure filings in all but eight states.

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Foreclosure Assistance, Miami Beach Real Estate

Housing Aid Bills, Florida Foreclosure Assistance

Under Democrats' housing aid plan, strapped homeowners could refinance into government backed mortgages and states would get money to deal with foreclosed property .

This would be the most significant action Congress has taken to date to address the housing crisis that's at the center of the nation's economic woes.

President Bush has threatened to veto both measures, which he says reward lenders and speculators. Democrats counter that the bills will head off hundreds of thousands of foreclosures, stabilize the shaky housing market, and prevent neighborhood blight.

Miami Homes in Foreclosure, Miami Real Estate

Click on the link below a list of 80 Miami real estate and Miami Beach real estate properties that are in foreclosure. These Miami foreclosure listings consist of Miami homes in foreclosure, Miami short sales and distressed properties in Miami. The list shows Miami homes in various stages of foreclosure such as pre foreclosures and foreclosure auctions. For additional information on Miami homes in foreclosure please call a professional Miami real estate agent at 305-673-3303 or email contact@miamilodgerealty.com.

Click here...Florida Foreclosure listings and Short Sales in Miami

Foreclosures in Florida, Miami Real Estate

The rising Miami foreclosure rate has increased the number of Miami homes in foreclosure that are available for interested buyers, and buying such foreclosure homes can be difficult. Different types of Miami homes such as single family, multi-family homes, Miami lofts & condos, duplex or triplex homes and various other types of residential foreclosure properties are available in the Miami and the Miami Beach areas. From the simple to the stylish ones all types of Miami foreclosure homes are available. Miami Lodge Realty has access to to all Florida foreclosure properties, Miami short sales and all Miami distressed properties. Contact one of their professional Miami real estate agents and have them send you all the properties in foreclosure in the areas that you specify.