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Status of the Short Sale Activity in Miami, Florida
Status of the Short Sale Activity in Miami, Florida

THE STATUS OF THE SHORT SALE ACTIVITY IN MIAMI FLORIDA IS ONE THAT KEEPS heating up just like our lovely summer weather.  From what I am seeing and hearing out here in the trenches the number of short sales coming into the market for sale are slowing down somewhat.  The activity and number of short sales are being replaced by normal "organic" sales but a lot of those properties will eventually end up becoming short sales as well.
I took a sampling in one of our choice neighborhoods called Palmetto Bay and found the following. Out of 56 properties for sale in the price range of $300,000 to $500,000 only 15 were short sales and 2 were foreclosures.  So this snapshot tells us that at least in the Palmetto Bay area the market appears to be getting less top heavy with the short sales.
Below is a sample of a short sale now in the market and waiting for a patient family to fall in love with it and wait for how long ?  This one is competitively priced at $449,000 and the market time for a property at this price range ... more

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