FORECLOSURE PROPERTIES SELLING QUICKLY IN KEY BISCAYNE
Categories: Foreclosures, Key Biscayne, Real Estate News
hiKey Biscayne, the small island that is a 10 minute drive from Brickell Ave. and Downtown Miami has not felt the economic impact like the rest of Miami Dade. Bank owned properties, otherwise known as foreclosures, are being snatched quickly by those “waiting for the right time” buyers searching for a great deal.
Though scarce, there are and have been some foreclosures in Key Biscayne this year. Foreclosures have only represented 3% of total sales in Key Biscayne since January 1st until today. I dare to use the word “only” because compared to its across the bridge neighbor Brickell, whose REO’s (a term used for foreclosure’s in the Real Estate world) have represented 47% of total sales, Key Biscayne’s prices have done a good job maintaining its value in one of the toughest markets in Real Estate history.
There are currently 3 bank owned properties for sale in Key Biscayne. After researching “The Island’s” foreclosures, there is no doubt in my mind that these will go quickly. Since January of this year foreclosure properties for sale have only been available for some weeks before going into a pending sale status; some only being active as foreclosures for days. Like a 2 bedroom 2 bathroom apartment at the Commodore Club whose active foreclosure status was listed for less than a week before being sold.
So if your looking to “snatch” a great deal in Miami with true Island Living, contact me. It is undoubtedly “the time to buy” and thats what a lot of people have been waiting for.
