FORECLOSURES TICK UP

The first bits of foreclosure data are starting to come through after the federal government’s foreclosure moratorium expired July 31 and the numbers are not as bad as some experts were predicting at the start of the moratorium.

ATTOM, a real-estate data company, released its Q3 2021 U.S. Foreclosure Market Report, which showed there were a total of 45,517 properties with foreclosure filings—default notices, scheduled auctions or bank repossessions—up 34 percent from the previous quarter and 68 percent from a year ago. On a nationwide scale, foreclosures represented 1-in-7,008 properties.

The report also showed that there were a total of 19,609 properties with active foreclosure filings against them in September, up 24% since August (which had 15,838 foreclosures) and up 102% year-over-year.

Now that the moratorium is over, lenders have begun processing foreclosures.…READ MORE

Join us this October at the Manor of Fear:

All are welcome, none shall escape.

October 7-31, 2021
500 Deer Run
Miami Springs, FL

Tickets available from 6-11pm. GET YOUR TICKETS EARLY!

The Current Miami Springs Market

A GREAT TIME TO SELL!

There are 18 active listings in the MS/VG market. The inventory remains low. It has fluctuated in the last month between 18-22 listings, making for a very tight market for Buyers. This is reflected in the decrease of pending sales. Prices remain very strong in Miami Springs and Virginia Gardens. There are many qualified Buyers, but the market is still favorable for Sellers. The Buyers are out there—sell now! Please refer to the articles posted on our website.

Fifteen (15) listings are priced over $500,000. Four (4) properties are listed over $1,000,000. Three (3) active listings have had a price reduction (0 this week). We remain in a strong Sellers' market with high demand. The market will change! Increased inventory is on the horizon, with increased foreclosures coming later this year.

MULTIPLE OFFERS CONTINUE AND LISTINGS KEEP SELLING OVER LIST PRICE!!

Mortgage interest rates continue to remain historically low, and there are serious Buyers. Timing is everything! The demand is high, especially for properties under $400,000. There is one (1) listing under $400,000–an unapproved short sale. This lack of inventory makes it difficult for most first-time Buyers. Competition from multiple offers have become quite common. Two (2) properties are priced between $400,000-$500,000; four (4) properties are priced between $500,000-$600,000; three (3) properties are priced between $600,000-$700,000; one (1) property is priced between $700,000-$800,000; three (3) properties are priced between $800,000-$900,000; and four (4) properties are priced over $1 million.

SELLERS, THIS IS YOUR MOMENT!
Low Inventory + Low Interest Rates = Seller's Market.
SELL NOW!

During the period of October 8, 2021 through October 15, 2021, there were reported 6 new listings, 3 closed sales, 5 pending sales, 5 actives with contract, 0 expired listings, 0 cancelled listings, 1 Temp off market, 0 price reductions, and 0 price increases.

HOW DOES YOUR HOUSE COMPARE?

The table below shows the current status of the Miami Springs/VG real estate market as of Friday, October 15, 2021. All closed sales are within the last 90 days.

*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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