Tag: Bank Owned Condos
Miami Beach Condo REO (Bank Owned) vs. Short Sale Inventory Q2 2009
by Ashton Coleman on May.11, 2009, under Buyers of South Florida, F.A.Q.
In researching Miami Beach condo inventory Q2 2009
including the Dade County entities of South Beach, Miami Beach, North Bay Village, Surfside, Bal Harbour and Sunny Isles Beach we have an inventory on May 11th 2009 at 5,677 (6,073 from May REO analysis and down 7%) total condos.
Out of those, how many would you guess are REO (Real Estate ‘Bank’ Owned)?…. only 80 (Bank Owned Down 27% from March 109 selection) along the Dade County beaches or 1%. How many are short sales…? Miami Dade “beaches” short sales reflect 1,068 (Down 6% from May’s short sale selection of 1,131) or 19% of total condo inventory. These figures are derived from the South East Florida MLS (Multiple Listing Service).
MLS STATS show the Average REO (Real Estate Owned) Miami Beach List price is at $287,608 (Down 2% from March figures averaging $294,389) ~ Ave. list price per square foot cost at $260PSF (Up 13% over March $226PSF “asking“ prices) and average square footage at 1,069 SF.
These are the Best 20 MIAMI BEACH BANK OWNED (REO) DEALS.
I assure you I know local inventory and relay the very best… Miami Beach, Sunny Isles condo deals here {REO Miami Beach Bank Owned Condos Here} Click on any photo to enlarge. Feel free to post a comment with insights or questions pertaining… You will see ‘Pending’ in the upper left corner as these desirable condos soon go under contract fast! First Time Home Buyers are taking advantage of the new affordable selection plus $8,000 tax credit while Miami Beach Investors Note 2% to 5% ROI when owned outright. The truth is in the numbers, 1.888.383.7326.
You go Kris!
Southeast Florida Condo Stats on REO Bank Owned & Short Sale Percentages
by Ashton Coleman on Dec.10, 2008, under Buyers of South Florida, Seller's of South Florida
I’ve been curious how each city is doing when evaluating selected South Florida entities and their total Condo Inventory vs. Bank Owned (REO’s) and Short Sales. My attorney added to my curiosity so here it is below… These figures are derived from the MLS and Miami is still one of the biggest and baddest for foreclosures and short sales. The average of all selected cities below (bank owned) figure is 4.53% of total inventory. We’ll evaluate this again 1Q 2009 and see what directions & changes may have occurred.
| CITY | TOTAL CONDOS | REO (BANK OWNED) | SHORT SALE |
| Aventura | 2060 | 40 – 2% | 356 – 17% |
| Bal Harbour | 260 | 1 – N/A | 20 – 8% |
| Coral Gables | 314 | 9 – 3% | 36 – 11% |
| Davie | 546 | 36 – 7% | 178 – 33% |
| Doral | 826 | 42 – 5% | 454 – 55% |
| Eastern Shores | 48 | 1 – N/A | 8 – 17% |
| Fisher Island | 111 | 0 – N/A | 9 – 8% |
| Fort Lauderdale | 2662 | 78 – 3% | 408 – 15% |
| Hallandale | 1399 | 37 – 3% | 258 – 18% |
| Hialeah | 898 | 75 – 8% | 462 – 51% |
| Hollywood | 1773 | 66 – 4% | 450 – 25% |
| Kendall | 57 | 2 – 4% | 24 – 42% |
| Key Biscayne | 314 | 1 – N/A | 15 – 5% |
| Laudrdale by the Sea | 260 | 6 – 2% | 19 – 7% |
| Miami | 7828 | 408 – 5% | 2433 – 31% |
| Miami Beach | 3928 | 88 – 2% | 585 – 15% |
| Miami Shores | 37 | 3 – 8% | 7 – 19% |
| North Bay Village | 328 | 19 – 6% | 104 – 32% |
| Pembroke Pines | 1201 | 90 – 7% | 425 – 35% |
| Sunny Isles Beach | 1530 | 30 – 2% | 315 – 21% |
| Surfside | 200 | 9 – 5% | 28 – 14% |
| Weston | 393 | 18 – 5% | 174 – 44% |
| Wilton Manors | 164 | 8 – 5% | 48 – 29% |
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