{"id":27368,"date":"2009-11-04T12:26:50","date_gmt":"2009-11-04T16:26:50","guid":{"rendered":"https:\/\/www.ewmrealestate.com\/blog\/?p=27368"},"modified":"2019-04-23T20:55:24","modified_gmt":"2019-04-23T20:55:24","slug":"weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/","title":{"rendered":"Weekly Report for Pinecrest, Palmetto Bay and Cutler Bay Real Estate"},"content":{"rendered":"<p>Here&#8217;s the sales activity from our local MLS from last Wednesday, Oct. 28, 09 through last night, Tuesday, Nov. 3, 09.<\/p>\n<p><strong>Village of Pinecrest <\/strong><br \/>\n<a title=\"Pinecrest, Palmetto Bay and Cutler Bay real estate\" href=\"http:\/\/montgomerymillshomes.blogspot.com\/2009\/11\/weekly-report-for-pinecrest-palmetto.html\" target=\"_blank\" rel=\"noopener noreferrer\">As of last night Pinecrest has a total of 189 single family homes for sale. Only one is a foreclosure&#8230;<\/a><\/p>\n<p>Notice the pattern? In each area, short sales out number the foreclosures when the properties are under contract. The numbers reverse when it comes to actual closings. A much larger percentage of bank owned sales close than those that are short sales.<\/p>\n<p>Bank owned; sale prices are approved prior to it going on the market. Short sales prices have to be approved by the lender after it&#8217;s under contract. Unfortunately for the seller and the buyer, a large percentage will not be approved and sold.<\/p>\n<p>If you&#8217;re a buyer thinking of making an offer on a short sale, unless you don&#8217;t mind waiting two or three months only to find out the lender didn&#8217;t approved your offer, take a hard look at the numbers <em>before<\/em> making your offer. Forget the asking price. You don&#8217;t know how the asking price was determined. There are homes for sale at prices there&#8217;s no way a lender will ever approve of. All that does is create a flurry of wasted activity.<\/p>\n<p>You can greatly increase the odds of getting a short sale purchase approved by being realistic with your initial offer <em>after<\/em> a review of what it&#8217;s really worth. Then at least you&#8217;ve got a logical basis to negotiate a good deal with the lender. Before approving an offer, the lender&#8217;s going to take a long, hard look at the property&#8217;s current market value. They&#8217;ll pay one or two brokers and an appraiser to offer their opinions on what that current value is to add into their data analysis mix. Then they&#8217;ll tally up the expenses they&#8217;d have to foreclose, maintain and sell it themselves. If your offer isn&#8217;t close to what that projected number is, they&#8217;re not going to approve your offer. Whether you&#8217;re buying or selling, market value is the majic number to base your strategy on. Need help figuring out what market value is?<\/p>\n<p><a href=\"http:\/\/www.montgomerymillshomes.com\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-27371\" src=\"https:\/\/www.ewmrealestate.com\/blog\/files\/2009\/11\/MMH-BLOG-logo-Custom.jpg\" alt=\"MMH BLOG logo (Custom)\" width=\"100\" height=\"57\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s the sales activity from our local MLS from last Wednesday, Oct. 28, 09 through last night, Tuesday, Nov. 3, 09. Village of Pinecrest As of last night Pinecrest has a total of 189 single family homes for sale. Only one is a foreclosure&#8230; Notice the pattern? In each area, short sales out number the<\/p>\n<p class=\"more-link\"><a href=\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\" class=\"themebutton2\">Read More<\/a><\/p>\n","protected":false},"author":5661,"featured_media":130092,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekly Report for Pinecrest, Palmetto Bay and Cutler Bay Real Estate - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Report for Pinecrest, Palmetto Bay and Cutler Bay Real Estate - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"Here&#8217;s the sales activity from our local MLS from last Wednesday, Oct. 28, 09 through last night, Tuesday, Nov. 3, 09. Village of Pinecrest As of last night Pinecrest has a total of 189 single family homes for sale. Only one is a foreclosure&#8230; Notice the pattern? In each area, short sales out number theRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2009-11-04T16:26:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T20:55:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Victor Mills, Broker Associate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Victor Mills, Broker Associate\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\"},\"author\":{\"name\":\"Victor Mills, Broker Associate\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/34cdd86b011423031e0101067aba63cb\"},\"headline\":\"Weekly Report for Pinecrest, Palmetto Bay and Cutler Bay Real Estate\",\"datePublished\":\"2009-11-04T16:26:50+00:00\",\"dateModified\":\"2019-04-23T20:55:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\"},\"wordCount\":363,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"EWM News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/weekly-report-for-pinecrest-palmetto-bay-and-cutler-bay-real-estate\/\",\"name\":\"Weekly Report for Pinecrest, Palmetto Bay and Cutler Bay Real Estate - 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