Below are the new foreclosures that just hit the market for sale in Miami-Dade and Broward County. Click on the link below to view the homes. To go from one home to the next, click on the right or left arrows in the upper left hand side of the webpage. If you click on the home's photo, it will enlarge all of its photos. Please contact me if you are interested in any of them.
Foreclosures - Single Family Homes - Miami
Foreclosures - Condos and Townhomes - Miami
Foreclosures - Single Family Homes - Broward County
Foreclosures - Condos and Townhomes - Broward County
Amit Bhuta, ABR, CNS, e-PRO, Realtor-Associate
Coldwell Banker Residential Real Estate
Serving Miami-Dade and Broward County
(305) 439-3031 Cell
(305) 412-1171 Fax
www.ReasonsToHireMe.com (Why Choose Me)
www.DadeCountyMLS.com (Website)
www.AmitsBlog.com (Blog - Web Journal)
abhuta@bellsouth.net (Email)
www.google.com/profiles/avbhuta (Google Profile)
Monday, July 18, 2011
Updated Statistics - Foreclosures, Short Sales, and Regular Sales
There are basically three types of sales on the real estate market today - foreclosures, short saless, and regular sales. As you probably know, a foreclosure is a home that the bank owns that the previous owner couldn't pay for, for whatever reason. A short sale is a home that is NOT owned by the bank, but the current owner owes more on it than what it is worth. They are also referred to as pre-foreclosures. What most people don't know is that probably 95% or more of these homes for sale have prices that are not approved yet. Basically the current owner that owes more on the home than the market value is hoping their bank lowers the payoff to the market value. The majority of time, the bank does NOT do this. The seller's bank won't tell the current owner how much they will lower the payoff to unless they have an offer. So basically a Realtor will put whatever price on a home they feel like putting to fish for an offer. Because of this, many people's perception of what homes are selling for are way off. The last type of sale is a regular sale. This is a transaction where the owner is not a bank, and also a transaction that a bank does NOT have to lower the payoff because the current owner owes more than the market value of the home. It is the type of sale that we have been seeing for years and years, before the real estate bubble.
Many people ask me what percentage each type of sale represents in our market (Miami-Dade and Broward County). With that said, below are the statistics.
Miami-Dade County Numbers (includes single family homes and condos/townhomes)
Many people ask me what percentage each type of sale represents in our market (Miami-Dade and Broward County). With that said, below are the statistics.
Miami-Dade County Numbers (includes single family homes and condos/townhomes)
- 16,252 total homes for sale
- 792 foreclosures for sale or roughly 4.9% of all homes for sale
- 4,319 short sales for sale or roughly 26.6% of all homes for sale
- 11,141 regular sales for sale or roughly 68.5% of all homes for sale
Broward County Numbers (includes single family homes and condos/townhomes)
- 14,312 total homes for sale
- 850 foreclosures for sale or roughly 5.9% of all homes for sale
- 3,597 short sales for sale or roughly 25.1% of all homes for sale
- 9,865 regular sales for sale or roughly 69.0% of all homes for sale
Amit Bhuta, ABR, CNS, e-PRO, Realtor-Associate
Coldwell Banker Residential Real Estate
Serving Miami-Dade and Broward County
(305) 439-3031 Cell
(305) 412-1171 Fax
www.ReasonsToHireMe.com (Why Choose Me)
www.DadeCountyMLS.com (Website)
www.AmitsBlog.com (Blog - Web Journal)
abhuta@bellsouth.net (Email)
www.google.com/profiles/avbhuta (Google Profile)
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