(To read more on the multifamily market, click here.)
MIAMI-The pace of residential foreclosures in all threeSoutheast Florida counties is accelerating monthly by doubledigits, according to Default Research, a company based in Mt.Pleasant, PA that tracks lender filings of lis pendens at countycourthouses. In comparing the number in February with the previousmonth, the number of filings climbed by more than 25% in Broward,15% in Miami-Dade and 17% in Palm Beach counties.
"The real estate market is cooling down and now foreclosures areheating up," Serdar Bankaci, president and CEO of the researchfirm, tells GlobeSt.com. As housing prices rose, he says, "manypeople paid more than they could afford."
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