Bank Owned Homes for Sale Real Estate Report
This is a market report on Bank Foreclosures in Lake Worth, Florida, brought to you by Mark Baker and www.BuyingPalmBeachHomes.com. This article will cover the current market and the types of listings that are available for single family foreclosed homes in the 200K + price range in Lake Worth, Florida.
Currently there are 75 properties on the market, 21 of which are under contract and not available, one accepting back up offers which leaves 42 properties for sale. Of these properties five have had a price reduction, five are new listings and two are back on the market.
Current Real Estate Prices
The lowest asking price is $202,600 for a three bedroom, two bath single family home with 1,800 sq. ft. under air. The highest asking price is $547,900 for a four bedrooms, two bath single family home with 2,744 sq. ft. under air. The median price of the homes for sales is $299,900.
In the last 3 months, forty-one properties have sold in Lake Worth, FL. The average sales price was $285, 751 with a sales price per square foot was $120 with a range of $58 to $168. The average days the homes have been on the market were 38 days.
What the Bank Foreclosures are Selling For
The next topic will be a comparison of Sale-List price, this information has been provided to see the relationship of the actual sold price of a home to the asking list price of the Bank. On the low end of the spectrum there was a 49% sale of asking price, the average was 96% of the asking price meaning that most properties are settling at a 4% discount of the Bank prices. At the high of the spectrum was a sale at 105% of the asking price, this tends to happen when the bank aggressively prices a property in a high demand development where there will be multiple offers on the listing.
Financing Terms of the Recently Sold Properties
Finally in review of the forty-one transactions with respect to the financing terms, there were thirteen cash transactions, eighteen conventional financed, nine FHA/VA and one assumable were other within the past 90 days.
If you are looking to buy or sell a home, let me put my experience to work for you. I have extensive knowledge of the homes for sale and I only work with experience agents that know the current market and can help you assess your options. Thank you for reading this market report for Bank Foreclosures in Lake Worth, Florida. You can contact Realtor Mark Baker at 561-768-7968 or you can visit me online at www.BuyingPalmBeachHomes.com .