Florida was home to 17 percent of foreclosures that took place during a 12-month period that ended in August.
That’s 111,000 out of 658,463 of the foreclosed home across the nation.
The next closest was Michigan, with 9 percent of the foreclosure total.
The top five states for foreclosures during that year period were:
Read more at Florida Realtors.
The number of distressed properties is declining. Short sales and foreclosures accounted for nearly a third of all sales from 2008 to 2011. In 2012, that number dropped to 26%, and it’s estimated that that number will drop even further, to 17% for 2013. They’re expecting percentages to fall to single digits by 2015.
This is great news for people underwater. It means your home values will continue to improve. If you’ve been thinking about buying a home, you need to start looking, because prices are going up!
Read more at NAR’s Economic Outlook Blog.
International buyers from Canada to Africa are buying homes in the U.S., primarily because of the cheap dollar and low interest rates. Florida tops out as the most popular state for international buyers, however. This is probably because many people are using these homes as either vacation homes or renting them out for income.
Business Week reports that international buyers have spent over $50-billion on more than 250,000 Florida properties since 2009. This helps create demand and boost home prices.
Read more at Business Weeks’ Foreign Buyers Drive Florida’s Housing Recovery.
Got a few (or 57) million bucks saved up for your home search? Check out what’s on the market now:
This oceanfront Malibu, California estate was conceived by Frank Gehry and built in 1989. It has 6 bedrooms, 10baths, 11,400 sq. ft., and is listed at $57.5 million.
This sprawling, European-style manse in Gladwyne, Pennsylvania was designed by Edmund Gilchrist in 1929. The current owner named it Linden Hill for the courtyard’s trees. It has 10 bedrooms, 7 full and 3 half baths, 16,000 sq. ft., and it listed for $24.5 million.
This classic, terraced estate sits on Lake Como in Italy. It was built in the 1930s and has over an acre of lush landscaping. It has 4 bedrooms, 4 bathrooms, 6,450 sq. ft., and is listed at $9 million.
See more pics of these properties at Architectural Digest.