Home values have been affected by foreclosures. Unless you’ve been on an extended vacation to Mars, you’re fully aware of this by now. You’re probably also aware that a housing recovery may not be a steady return. It’ll more than likely take a winding road back.
Here’s some current facts regarding foreclosures in the Village of Pinecrest, the Village of Palmetto Bay and Cutler Bay.
From data pulled from our local MLS Service where Realtors ® were involved in the sale, so far this year The Village of Pinecrest closed 132 single family home sales. Out of that total, 20 were foreclosure sales. Today, there are 192 single family homes for sale and only one is bank owned or a foreclosure sale. Only one.
From the same source, the Village of Palmetto Bay closed 147 single family home sales this year. 32 of those were foreclosure sales. Today there are 141 available for purchase but only 3 are foreclosure sales. Just 3.
Cutler Bay – 154 total sales, 69 were foreclosures. Today – 99 for sale, with 7 foreclosures. Having only 7 foreclosures available is a substantial change. A welcome change.
As it stands, these three areas have had foreclosure activity as most areas in Miami-Dade County have, but most have been purchased with an occasional one entering the market and disappearing almost as fast.