|By PR Newswire||
|November 7, 2012 04:53 PM EST||
LOS ANGELES, Nov. 7, 2012 /PRNewswire-iReach/ -- It wasn't the story she was expecting to hear…All Nicky wanted to do was help her daughter – a soon-to-be graduate student at Florida International University – find a place to live for the fall semester. Since she was unfamiliar with Miami's vast landscape, she turned to a realtor. She was counting her lucky stars she had, because she never would have never known about a growing issue otherwise. What was it? Miami renters were finding great apartments, condos, and houses at affordable prices (something that's not always easy to do). They were filling out applications, signing leases, handing over first and last months' rent, and getting their keys. The only problem? Property owners were leaving out one small detail – they were one step away from foreclosure. Within a couple of months, banks were taking over, and renters were out on the streets and out of luck. By the time late summer rolled around, realtors were doing more homework on behalf of their clients. That way, unassuming renters weren't getting blindsided a few months into a pricey lease. But, still, it begs the question – with months chock full of horror stories like these, is Miami the foreclosure capital of the world? (Rent to own- Is it right for you?)
Numbers-wise, you can certainly make that argument. As of August, the rate of foreclosures in the greater Miami area was 16.42%. That accounts for properties in some form of the foreclosure process – not properties that have been completely taken over by the bank. On top of that, a whopping 22.89% of homeowners were at least 90 days delinquent on their mortgages in August. Both of those numbers are significantly higher than the national averages for August – and that's in spite of some of the horror stories we've seen come out of California and Nevada over the past few months. In fact, Florida now leads the way when it comes to foreclosures. Part of the problem stems from the fact that Miami saw some of the biggest home value increases before the bubble burst. Now that values have plummeted, homeowners are left with a huge gap that's much bigger than what people in other areas are dealing with. However, Miami isn't ready to take that foreclosure crown just yet. That's because, as bad as the latest foreclosure numbers are, they're actually an improvement over last year's numbers. In fact, last August, 18.14% of Miami-area mortgages were in some part of the foreclosure process. Additionally, 25.45% of homeowners were at least 90 days delinquent on their mortgages. However, those positive gains could soon turn negative. Why?
South Florida has been hit particularly hard by the bankruptcy bug. According to statistics released last week, Miami-Dade, Broward, and Palm Beach Counties all saw a massive increase in the number of bankruptcies filed during the month of October – a 19% increase, to be exact. That news has local real estate experts and attorneys worried that a surge in foreclosures could soon follow. Miami-Dade County could see the biggest impact, simply because they saw the largest number of bankruptcy filings. However, it's also important to remember that some of these bankruptcies were caused by existing foreclosures – not vice versa. In fact, Miami-area attorneys say that many South Floridians filed for bankruptcy after receiving a final foreclosure notice. As a result, the increase in foreclosures might not be as dramatic as you think. Bottom line – until Miami homeowners can get a handle on the foreclosure-bankruptcy cycle, it's going to be tough for other areas to lay claim to the "Foreclosure Capital of the World" title.
Media Contact: Daniel Torelli RealtyPin.com, 514-836-1432, [email protected]
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
The cloud competition for database hosts is fierce. How do you evaluate a cloud provider for your database platform? In his session at 18th Cloud Expo, Chris Presley, a Solutions Architect at Pythian, will give users a checklist of considerations when choosing a provider. Chris Presley is a Solutions Architect at Pythian. He loves order – making him a premier Microsoft SQL Server expert. Not only has he programmed and administered SQL Server, but he has also shared his expertise and passion w...
Feb. 13, 2016 10:30 AM EST
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.
Feb. 13, 2016 10:00 AM EST
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
Feb. 13, 2016 09:45 AM EST Reads: 228
The Art of DevOps provides a fun overview to help teams understand DevOps. Written in the style of the famous 6th century Chinese manuscript “The Art of War,” this eBook describes DevOps in the form of a mission to continuously deliver assets to the operational battlegrounds safely, securely, and quickly. It’s a fun read with valuable insights.
Feb. 13, 2016 09:30 AM EST
SYS-CON Events announced today that (ISC)²® (“ISC-squared”) will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Two leading non-profits focused on cloud and information security, (ISC)² and Cloud Security Alliance (CSA), developed the Certified Cloud Security Professional (CCSP) certification to address the increased demand for cloud security expertise due to rapid growth in cloud. Recently named “The Next...
Feb. 13, 2016 09:30 AM EST
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
Feb. 13, 2016 09:00 AM EST Reads: 342
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Feb. 13, 2016 09:00 AM EST Reads: 246
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
Feb. 13, 2016 08:00 AM EST
DevOps is not just last year’s buzzword. Companies with DevOps practices are 2.5x more likely to exceed profitability, market share, and productivity goals. But how do you enable high performance? What can you do right now to start? Find out from DevOps experts including Gene Kim, co-author of "The Phoenix Project," and the Dynatrace Center of Excellence.
Feb. 13, 2016 07:30 AM EST
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, will discuss using predictive analytics to ...
Feb. 13, 2016 06:45 AM EST Reads: 420
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Feb. 13, 2016 05:00 AM EST
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Feb. 13, 2016 04:45 AM EST Reads: 469
The cloud promises new levels of agility and cost-savings for Big Data, data warehousing and analytics. But it’s challenging to understand all the options – from IaaS and PaaS to newer services like HaaS (Hadoop as a Service) and BDaaS (Big Data as a Service). In her session at @BigDataExpo at @ThingsExpo, Hannah Smalltree, a director at Cazena, will provide an educational overview of emerging “as-a-service” options for Big Data in the cloud. This is critical background for IT and data profes...
Feb. 13, 2016 03:45 AM EST Reads: 248
Father business cycles and digital consumers are forcing enterprises to respond faster to customer needs and competitive demands. Successful integration of DevOps and Agile development will be key for business success in today’s digital economy. In his session at DevOps Summit, Pradeep Prabhu, Co-Founder & CEO of Cloudmunch, covered the critical practices that enterprises should consider to seamlessly integrate Agile and DevOps processes, barriers to implementing this in the enterprise, and pr...
Feb. 13, 2016 03:00 AM EST Reads: 470
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Feb. 13, 2016 02:30 AM EST Reads: 371