Here in the Orlando to Daytona Beach & greater Central Florida Area, an estimated 1 in 2 (53%) households have had a foreclosure filed against them, is a “distressed property” and is in pre-foreclosure or underwater . The 'underwater' houses are worth far less than is owed on them making them distressed property as well, but without a foreclosure filing yet and a prime strategic default candidate. Most of us have been affected by the foreclosure crisis in one way or another. And this trend is continuing in the Orlando, Daytona Beach and Central Florida area communities with more foreclosures, bank owned property and short sales hitting the market every week.
According to the National Association of Realtors (NAR), over 60% of the single family residences sold in Florida in 2008 were DISTRESSED PROPERTIES - Short Sales, REOs and Bank Owned. In 2009, the numbers far exceeded those of 2008 and an even greater number of short sales, foreclosures and strategic defaults for occurred in 2010 and 2011.
If you are an investor, home buyer or first time buyer looking to grab the best deals , you need an experienced professional to assist you so you can avoid making fatal errors due to not understanding the process. If you are distressed property owner, these are both tough and frustrating times; it is easy to pay money unnecessarily or end up in foreclosure even while attempting other solutions.
Now more than ever, it’s important that you speak to professionals who can identify and explain your options , especially with the banks calling about HAFA and touting it as the best thing since sliced bread for the homeowner - maybe and very often not. It is imperative that you understand your obligations and the consequences of HAFA and the foreclosure process.
My name is Richard Zwick. As an active Investor myself, and a Realtor® with 27+ years of real estate experience (21+ years with foreclosures), and the CDPE Designation (Certified Distressed Property Expert®), I have a strong and unique appreciation of the factors affecting Orlando, Daytona Beach and the surrounding Central Florida area markets. My extensive experience, and that of my team, can help both buyers and sellers avoid the snake-pits of buying or selling a foreclosure, pre-foreclosure, bank owned property (REO), short sales or other distressed properties in Orlando , Longwood, Altamonte Springs, Heathrow, Lake Mary, Sanford, DeLand, Debary , Deltona, Orange City, Ormond Beach, Daytona and nearby areas.