Over the past months we have noticed the “Shadow inventory” of distressed properties discussed on news reports just doesn’t seem to exist. Today in Coral Gables there are no single family homes that are REO’s (Real Estate Owned by lending institutions) on the MLS and only 8 condos out of 143. That number is less than 2% of the total inventory. In Miami Dade County, less than 5% of the inventory is designated as REO’s. These numbers are rather insignificant so if you are waiting to get a good deal, you may be missing the opportunity to buy a well-priced home. We have actually begun to see some list prices adjusted UP… If you are a Buyer in this market, take advantage of the record low interest rates. Listen to us: We are not in a buyer’s or seller’s market, but a fair one, so purchase your new home in the Gables today.
Four times a year, Jeannett publishes " Jeannett's Journal" which is distributed directly to well over 18,000 residences in Coral Gables. The magazine encompasses Coral Gables news, Culture, and Business. We devote several pages to Real Estate and below you can find the most recent update on what is going on in the Gables, when it comes to selling single-family homes.. Click here to Jeannett's Journal.
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