As of the week of August 25th, 2008, there were 809 single family homes for sale in the city of Weston through the Multiple Listing System (MLS). Of these, 365 are short sales/pre-foreclosures. This leaves us with 444 non-short sale properties as inventory or as properties currently on the market.
Considering that a short sale/pre-foreclosure property may take up to 6 months to be approved by the lender who holds the mortgage, and there are no guarantees that the lender will accept the offer after said time, it is recommended that buyers looking to move in rhight away should abstain from short sale/pre-foreclosures, these properties are recommended for investors, second home buyers or buyers with enough financial resources willing to wait the time necessary for them to close. Of course, buyers unfamiliar with the short sale process may be wooed by the prices of a short sale/pre-foreclosure and insist on offering on these properties, only to become anxious when the time goes by and no approval is received.
The following is a breakdown of the 444 non-short sale properties:
|
Number of properties |
Number of bedrooms |
Asking price range from |
to |
|
5 |
2 |
$ 180,000 |
$ 315,000 |
|
101 |
3 |
$ 210,000 |
$ 777,000 |
|
154 |
4 |
$ 266,000 |
$ 2,400,000 |
|
135 |
5 |
$ 340,000 |
$ 3,900,000 |
|
49 |
6 or more |
$ 579,000 |
$ 9,995,000 |
|
|
|
|
|
Likewise, and as per MLS data, this year-to-date, 448 single family homes have closed in Weston. Of these, an equal amount have been short sales/pre-foreclosures and non-short sales. Following is a breakdown of the non-short sale sales:
|
Number of properties |
Number of bedrooms |
Sold price range from |
to |
|
5 |
2 |
$ 206,900 |
$ 240,000 |
|
65 |
3 |
$ 136,000 |
$ 500,000 |
|
85 |
4 |
$ 275,000 |
$ 975,000 |
|
50 |
5 |
$ 390,000 |
$ 1,495,000 |
|
19 |
6 or more |
$ 445,000 |
$ 2,400,000 |
It is noteworthy to mention that the amount of single family homes for sale in the MLS in Weston reached a peak of over 900 properties in late 2007 and earlier this year, again, the current level is 809,...that's an improvement.
Comments(0)