Tag Archives: Sandy takes a chunk out of mortgage applications

Foreclosure discounts are getting smaller as intense competition for homes forces buyers to pay closer to market value, Zillow.com says. Buyers in Palm Beach, Broward and Miami-Dade counties earned a 2.9 percent discount in September, down from 6.8 percent a year earlier, according to the Seattle-based website. Nationally, bank-owned discounts fell to 7.7 percent in September from 9.1 a year ago. South Florida’s peak foreclosure discount was 22.7 percent in August 2008. But during the past year, a lack of homes for sale has frustrated buyers and led to multiple […]