ATTENTION INVESTORS – IT’S NOT OVER – KEEP YOUR EYES OPEN! THERE IS STILL TIME TO INVEST IN REO’S
Are you wondering if the real estate market has corrected itself and the supply of Florida foreclosed homes has bottomed out? Were you looking to in invest in foreclosures and think you might have missed the boat?The answer is not yet! There are still over 70,000 Florida foreclosure properties that will eventually come to the market in the near future. Among these foreclosure properties are the lingering properties, called Zombie Properties, creating a back log of over 50,000 Florida foreclosures state-wide that need to go through the foreclosure process. These lingering properties are called Zombie properties because after the foreclosure process was started, the owner vacated the property and the bank then decided for various reasons to cancel the foreclosure perhaps due to paper work issues (signing issues or lost note) or the bank decided to not move forward with the sale, or the lender simply had too much inventory and needed to slow down its intake. Regardless, these properties serve as reminder that the housing market is still in the midst of self-correction.
Data shows that South Florida is now ranked second in the most zombie foreclosures with about 13,000 such homes in the second quarter. When combined with properties that have already been foreclosed upon, i.e. bank-owned homes (REO), there are more than 140,000 homes in Florida in either zombie or REO mode.
Florida still remains the No. 1 state in the nation in overall foreclosure activity.
What does this all mean for the investor? This translates as an opportunity to still keep your eyes open to look for deals to invest in foreclosures and to purchase single family homes and rent them out.
– BUT remember, being an investor is one thing- being a landlord is a distraction.
When it comes to managing your single, multi family & commercial properties, rest easy – Octazon Management has got you covered, can protect your asset and take away your property management headaches and distractions through our full-service or back office property management services. Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling the investor direct access to valuable owner/investor information 24/7 bringing them “simplicity and peace of mind.” .
When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales – so you never have to worry about losing control of your relationship with the owner.
Providing Simplicity and Peace of Mind™
Call us 954-674-2467 or Email us at email@example.com today.
Check us out @ www.octazon.com
SINGLE FAMILY HOMES MULTI FAMILY * COMMERCIAL * OFFICE – INDUSTRIAL