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The Campins Company founder Katrina Campins weighs in on foreclosure activity in Florida.
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And then let's talk more about real estate foreclosures hitting a six year low across the country.
Katrina campaigns this year she's founder of the camp and company you might know her.
From the apprentice in she was on with us last Friday -- the CM pretty -- Keenan her fans so foreclosures are you seeing.
I would tell me about foreclosure activity in Florida with what you're saying do you think that we've seen the worst habit or of the banks -- -- withholding some of these distressed properties.
Just kind of film slowly but surely.
Well overall -- engines because in January we've seen the lowest foreclosure numbers since the real estate boom in 2006.
Mean that foreclosures that are coming into the market it's the lowest rate it was only about 64733.
Reported.
And that's considerably lower Florida was one of those.
Markets hit the most by foreclosures.
And what's interesting is -- recovering because of all the international buyers because of all the snow birds coming down to it to Florida.
And it's really still and international markets unrest a retirement destination.
And so we're not seen in those foreclosures at the rate that we saw them prior talk about inventories though and our buyers frustrated at this point because they're just isn't.
And based on personal experience if you got in just want to look at properties there's just not that much out there Tuesday.
Buyers are so frustrated and that's something that people don't realize it's really becoming a seller's market.
I'm working with so many buyers right now they're trying to find their dream home and they're just isn't enough on the market.
And sellers now -- and vanish so they're able to hold on for that price in windy day -- when do you think inventory to pick up you stake in the coming months -- -- you're selling -- starts and in January after the holidays and it's -- and it has been hot so far.
Do you think you will see more inventory as the seller becomes more confident.
And says okay I will -- my house I can't get a good price at this point.
I do and I also think that the developers and -- so many developers in -- that are coming back into the market now and building new inventory.
So as that occurs -- -- gonna have more inventory in the market for the single family homes like for instance the single family homes on my need each on the water.
There just isn't ever going to be anymore of those and so the sellers really have an advantage at this point and the fires unfortunately.
Afternoon -- -- pay top dollar that's what they want we talked about this last week about the buyers being from from overseas and we we were talking about Russians and Europeans but are you seem.
What about them if private investor say up here are people buying properties in Miami and in South Florida.
To add second homes are -- moving into Wal-Mart they just let them sit -- people renting them are they -- for income.
What this wave that I am beginning to see is now your second home buyer.
Or the buyers coming to Miami to escape unfortunate conditions in their own countries or unfortunate weather.
Being in the know aren't.
But I think we're gonna begin to see those investors come back into the market and getting a lot of calls for a commercial real estate figures -- and investors.
Wanting to really dive into the market now and also investors that want to buy residential buildings in order to convert them.
So won't begin to see that -- I think that's what's gonna hit next to -- -- -- I have been with us and -- Miami my name is becoming so desirable because of the weather and it culture did you -- start -- a lot more we have like a really bad snowstorm likely dead last -- -- And mean I'm coming up here for the sandstorm I don't offended back hopefully I'll have what it's not as bad that let let's make.
Katrina you're welcome back any time of great see you thank you thank you for having me absolutely Katrina -- and.
