According to data from the LPS Mortgage Monitor, while repossession starts are still higher than last year, mortgage delinquencies — of which Florida has the highest number — are starting to ease.

The data shows that the number of delinquent loans; those 30 days behind on payments was down 14.2% in August compared to last year, and down 1% compared to July. The number of seriously delinquent loans, those 90 days behind fell 11.5% on the year and 1.3% on the month.

The inventory of delinquent loans as a percentage of the US mortgage market is now 9.22%. With the exception of a small rise in a May blip this has been falling month on month from the January peak of 10.97%.

Foreclosure inventory now at 3.80%, on the other hand has been rising since June, although the data does show that it was falling each month between February and June.

Delinquencies maybe falling, but it is when you look at the foreclosure starts that you realise the banks are still far from coming to terms with the level of write downs still needing to be made. Unlike delinquencies and foreclosures, which have risen and fallen consistently for long periods of time, the foreclosure starts table is like a rollercoaster.

In September 2009 starts rose from 272,058 to 277,034. In October they fell to 255,863 and fell again in November to 220,429, before rising again in December to 234,593, and rising again in January to the new high of 287,865. They fell drastically again in February to 236,279. Rose in March to 250,174. Fell in April to 219,666. Rose in May to 237,198, fell to 225,807 in June, back up to 279,838 in July, and up again in August to 282,528.

As you can see, we are still dealing with huge numbers here, but everything in the US is on a bigger scale, and that includes buyers and investors. Tens of thousands of investors from around the world are joining their US counterparts in snapping up these properties. According to recent data from the National Association of Realtors, Florida property is most popular with foreign buyers, as it has been for the last several years.

Dowload LPS Report

Download NAR report: research_intl_survey_2010

Florida Property Buyers Guide

This must read guide, with over 20 pages packed full of invaluable advice, real life case studies and up-to-date facts and figures, will provide the astute investor with all the information they need to know before buying a Florida holiday home or investment property.

Florida affords the astute investor with opportunities to benefit from property prices at the bottom of the cycle, while taking advantage of an area with outstanding economic prospects.

Our FREE ‘Florida Property Buyers Guide 2009′ will give full details on how to take advantage of this lucrative market.

Florida Buyers Guide in a Nutshell

Economic Outlook: An overview of Florida’s booming economy.

Investment Overview: Insight into the 10 key fundamentals that are driving Florida’s property market.

Property Hotspots Revealed: For the first time, we reveal the areas that give the investor the greatest opportunity to maximise returns.

Legal Implications: All your legal questions answered and details of how to avoid any pitfalls.

Buying Procedures: The most complete and up-to-date insight of the buying procedure in Florida.

Expert Tips: Florida property experts reveal some common mistakes made by others and how to avoid them.

‘Probably the best priced property market in the world today – one that is set to rise over the medium to long term’.
Source: www.ft.com

‘An outstanding opportunity’.
Source: www.dailymail.co.uk

As with all markets at the bottom of the growth cycle, the earlier you invest, the greater your profit potential – the time to buy in Florida is NOW! Get your FREE ‘Florida Property Buyers Guide 2009′ today and learn the secrets of Florida’s property market.

Click here to download your FREE copy: http://www.colordarcy.com/buyers-guide-florida/property-investment-florida.php

We look forward to the opportunity of assisting you invest securely and successfully.

Kind regards

The Colordarcy Team

March 2009 saw Colordarcy helping more clients than ever before to purchase competitively priced real estate in Florida. In fact, we achieved 9 times more sales than what we had projected.

I said at start of the year that the time to take advantage of the Floridian property market is now. Barack Obama has hinted that the US economy is showing the early signs of recovery and with prices around 70% below last year’s prices, I am confident that we are now at the bottom of the market. VIP Members who are still thinking about investing, the time has come for you to take action.

Property Market Cycles

Timing your entry and exit in a property market is a key element in becoming a successful investor.
The eagle eyed property investor is always looking to buy either at the end of a recession, the bottom, or the recovery stage, whilst looking to realise profits by selling or via the release of equity during the expansion and peak stages.

Will we EVER again see 1-Bedroom apartments with tenant in place for as little as £35,000? Or – will we EVER again see 3 Bedroom Villas with Pool priced at £70,000? I strongly believe that we will never see prices like these ever again. Don’t miss out, take advantage of this unique opportunity.

Tenanted Apartments/Condos – YOU RECEIVE INCOME FROM DAY ONE!

Colordarcy are proud to present to our clients a selection of apartments that comes with tenants in place – income from day one.

The Investment

The community where these investment apartments/condos are located offers residents a superb clubhouse that includes a fitness centre, billiards room, residents lounge, business centre, as well as a resort style swimming pool with spacious sun deck and hot tub. The community features mature and lush landscaping and benefits from an excellent location sitting aside the championship golf course.”

Multiple 1, 2, 3 bedroom units available from $49,000 / £33,000
Now over $110,000 / £75,000 below previous selling prices
All apartments/condos have been refurbished recently and include appliances
All the exclusive apartments/condos have a tenant in place, so immediate yielding properties!

Example Investment

Price: $49,000 / £33,000
1 bed, 1 bath
674 sq ft

Current Rent: $750 per month
Leased Until: 31st October 2009

Typical Costs – Per Month:

Management Fee – 10%: $75
Real Estate Tax (Council Tax): $175.00
HOA (Service Charge): $168.00
Estimated Insurance: $30

Monthly Net Cash Flow:$302
Net Rental Yield:7%

Click here for more details: http://www.colordarcy.com/property.php?id=149 

BREAKING NEWS!

We have negotiated 3% to be paid towards closing costs (legal fees, title deeds, surveys, etc) – essentially bringing closing fee to ZERO! For example, if you were to purchase a $50,000 property, the developer would contribute $1,500 towards your closing cost – this is more than sufficient to cover mandatory closing expenses and makes owning your Florida investment property that much cheaper.

Don’t Miss Out – Reserve Your Tenanted Property Today!

The last time we sourced tenanted properties for our VIP Members, we sold out our allocation within days. Florida properties are selling extremely quickly, to avoid disappointment we encourage all interested parties to contact us today. Units are allocated on first come basis.

If you are looking for a hassle free property – with income from day one – this is it.

Once again, I thank you for being part of our record-breaking month. We look forward to the opportunity of assisting you to invest securely and successfully.

Loxley McKenzie
Managing Director
                                                                                                                               

Examples of bargains available in the state included homes in Kissimmee and Davenport, with the latter offering a case where three bedroom villas prices at $300,000 ( £220,000) have been reduced to $150,000 (£110,000).

The paper commented that Florida property remains highly sought-after for Britons because of its many beaches, attractions and golf courses.

Florida property seekers hoping to pick up foreclosed bargains could also have more chances to do so, a recent report may indicate.

A study of where the most mortgages in 60 days arrears or more were in the US during the fourth quarter, by credit reference agency TransUnion, revealed that the highest rate of these was in the state, at 9.5 per cent of all home loans.

The time to buy property in Florida is now!

“The bottom of Florida property market has been reached, or is very close to being reached, so this is an excellent time to buy for capital growth over the medium term,” he said.

He added that some homes are being sold for less than it costs to build them.

The International Law Partnership suggested that there a number of ways to find success in overseas property investment during 2009, including buying reduced homes in quality areas, purchasing in timeless destinations that don’t lose their appeal or finding distressed sales.

Recently, Sean Tipton, a spokesperson for ABTA – The Travel Association, said that Florida is a holiday destination that has an enduring popularity with British families.

Central Florida is by far the most exciting place for cash buyers to invest at the moment and the time to take advantage of the highly discounted bank owned properties is now.  

The Foreclosure Process 

Properties that first enter ?foreclosure’ are listed as ?short sale’.

•  If they fail to sell at this point, the institution (bank / lender) that has provided the mortgage then moves to the next step of the foreclosure process, the auction. 
• If the property fails to sell or reach the reserve price at the auction, the property reaches the final position in the process, REO / Real Estate Owned.  
• At this point the lender / bank now own the property and it sits on their balance sheet. They are motivated to sell this property quickly, and it is at this point they are prepared to cut the price further.  
• At this stage, Colordarcy negotiates with the lender / bank on behalf of investors to secure the desired property at the lowest possible price for cash purchasers.

In summary, REO properties are owned by a bank or other lending institution and have passed through the foreclosure process. 

Lenders and banks do not want to hold REOs on their books and try to dispose of these as quickly as possible. 

Florida – Low prices, low taxes, high rental yields

Apart from having the comfort of investing in an area that has been offering foreign property investors security and legal protection for decades, there is no stamp duty or state tax in Florida and both income tax and capital gains tax can be lowered to trivial amounts due to the sheer amount of allowable deductions available.

Colordarcy Investors will have the opportunity of purchasing property at less than 30% of their previous sales prices, which ensures a high net rental yield. These properties are also much easier to rent as tenants prefer and actively seek properties owned by cash buyers. They do this because it minimises their chances of being forced to leave again if their landlord misses mortgage repayments and the bank forecloses.  
 
Accurate Sales Prices & Rental Income

As previous sales prices are on public record for every property in Florida and as the current market value estimates we provide are sourced from the Orlando Appraisers office, investors can easily calculate the huge value in the low purchase prices of the bank owned properties we carefully select.

While there are often large differences between a property agents optimistic rental income estimates and the reality on the ground, investors in Florida can verify that the gross and net income figures we quote are extremely accurate. Firstly, there is a monthly publication called Apartments for Rent that lists units for rent across Metro Orlando with guide prices. Secondly, our partner management company has many years experience of renting properties in the micro areas we focus on, and thirdly, there are many other rental companies offering units to rent across metro Orlando which can be quickly compared against our quoted figures.

 Summary 

In short, Colordarcy does a lot of work behind the scenes to provide a completely hands off purchase process for this unique and very time sensitive investment product. The best properties are selected daily, the legal paperwork is processed efficiently, tenants are in place within weeks of closure, accountants are in place to take care of tax affairs and secure online bank accounts are quickly opened.