Mortgage Relief Options Are Available To

Homeowners Affected By Coronavirus Safety Measures

Homeowners who are facing a temporary hardship due to the coronavirus and heightened safety measures such as businesses shutting down have options to postpone mortgage payments, according to the Federal Housing Finance Agency.…READ MORE

Real Estate Reality:

How to Get Ready for a Recession

What a difference a few weeks can make! We started 2020 on a hopeful note, expecting a solid—if moderate—continuation of the longest U.S. expansion on record. The only major obstacles in the housing market, it seemed, would be affordability and availability. Then came the global expansion of the coronavirus epidemic, and in response, the social and economic landscape has shifted. On March 3, the U.S.…READ MORE

Potential Implications of COVID-19 for 2020 Economic and Housing Landscape

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

Inventory increased this week with the addition of 7 new listings in Miami Springs and Virginia Gardens.

There are 31 active listings this week.

That still represents a significant reduction compared to last year. This is good news for sellers.

31 active listings this week

6 closed sales this week

8 listings under $400,000 *(Note: This will make more difficult for buyers looking in that range because of the competition from other buyers. Multiple Offers expected for entry level buyers.)

11 listings between $400,000 and $500,000

8 active listings are priced over $500,000

2 properties are listed over $1,000,000.

4 active listings have had a price reductions 1 this week). 

What does this mean? Usually, the property was overpriced from the beginning. 

However, sellers are recognizing the market change.  

There are less price reductions as the inventory decreases.

Sellers that haven’t been able to sell their property in this market should re-evaluate their strategy and adjust 

accordingly based on the current market circumstances. 

Timing is everything. 

If you re on the fence about selling, now is the time to get off and put your house on the market.

During the period of March 6, 2020 through March 13, 2020 there were reported 7 new listings, 2 closed sales, 2 pending sales, 1 active with contract, 0 expired listings, 1 cancelled listing, 0 Temp off market, 1 price reduction and 0 price increase. Interest rates remain low. A GREAT TIME TO BUY OR SELL.

Attention Sellers!

Low Inventory + Low Interest rates = Sellers Market.

Act Now!

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, March, 13, 2020. All closed sales are within the last 90 days.

HOW DOES YOUR HOUSE COMPARE?

*Disclaimer: The data relating to real estate displayed on this website and the chart above comes from the Miami Board of Realtors MLS. All listing information is deemed reliable but not guaranteed and can be independently verified.

 A complete list of all the properties for sale in Miami Springs or any other area of 

Miami-Dade County can be sent to you on regular basis. 

Request it at:  charlie@leonardrealestategroup.com

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