I have been studying the market in Aventura, very closely and there are some statistics that are interesting.
The average price per square foot of all properties in Aventura has been $205 per square foot.
When I look at the average price of foreclosures sold in Aventura, I see an average price per square foot of $ 137
The short sales average out at $175 per square foot.
This is important because we can see that a normal sale does much better than either of the other two choices and that the buyers make different decisions when buying a property that is not distressed.
When the banks put a property on the market after a foreclosure, they are offered at lower prices to affect a quick sale but when the sellers are still holding title but are receiving lower price offers than their mortgages, the banks are able to sell at a better price than if they had already foreclosed.
So if short sales could only be expedited and the process streamlined, many of the homes that are “under water” can yield more decent prices. The banks have to be able to see the advantage to doing this. Sellers credit scores are affected by short sales for 3 years but they are affected by many more years by foreclosures
We have a variety of homes for sale in Aventura and as you can see, you have choiceskof REO, Short Sales and Regular Sales so get in touch with me today and check out the greatest values in the latest inventory.