Miami 2009 Single Family Market Report - Regular, Short Sales and Foreclosure Comparison

By
Real Estate Agent with First Coast Sotheby’s International Realty

Miami Single Family Real Estate Market Report

Miami Real Estate's Jolly Green GiantTake a look at the above graph.  Anything jump out at you?  Hmmm, perhaps the Jolly Green Giant?  What is that you ask?  It's the number of single family homes in the $100,000 to $250,000 that have sold in 2009 which were REOS (bank owned foreclosures).  This is the overwhelming largest property type that has sold so far in 2009.  Nearly 2/3 of all of the properties closed in 2009 have been foreclosure and of those, the largest majority by far closed for $100,000 to $250,000 sold price range.  Although a few of these properties had Dade County appraised market values of up to $600,000, most had a Dade County market value of +- $250,000, still good deals, but not overwhelming steals.

This also shows that "regular" sellers in any of the price ranges up to $500,000 have to compete head to head with foreclosures and short sales, but those over $500,000, especially at the higher price points, do not.  They do, however, still have buyers out there with the "I have to get a deal" mindset, but at least there are banks willing to feed them what they want (REOs) as readily as in the lower price brackets.

If you would like to further discuss how Miami's real estate market might affect your purchase or sale of a home, please contact us today, we'd love to meet you!

 

FREE Customized Monthly Market Reports delivered right to your email!

Free HOME VALUATION!

Free MLS Search!

Call Janie at 786-252-4970!!

 

Miami Real Estate BlogWant more news?  Subscribe in a reader!

Made on a Mac in Miami

 

 

Copyright © 2009 www.PapillonRealEstate.com All Rights Reserved ! Copy and die (jk, but I will come get you!)

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Florida Miami-Dade County
Groups:
APPLE/MAC iUser Group
Miami-Dade Florida Foreclosure and Short Sale Info
Miami, FL Real Estate
Tags:
miami
market update
miamidade market update
miami foreclosure
miami preforeclsoure
miami short sale
made with a mac

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
150,060

Janie Coffey

Uniting Extraordinary Homes w/ Extraordinary Lives
Ask me a question
*
*
*
*

Additional Information