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Miami Ranked #12 As Best Place to Buy Forclosures

February 1st, 2013 Written By Carol Pawley

According to a report from RealtyTrac, Miami was ranked #12 among the nation’s best places to buy foreclosures in 2013. RealtyTrac looked at specific criteria for ranking the top places. First the supply of foreclosure inventory, second foreclosure sales as a percentage of all transactions, third the average percentage discount on foreclosures and lastly the annual percentage change in foreclosure activity in 2012 compared with 2011.

The No. 12 ranking for the metropolitan area of Miami, Fort Lauderdale and Pompano Beach was based on the area having a 29-month supply of foreclosures, with foreclosures accounting for 28.7% of all sales during 2012. The average price discount on a foreclosed home in the Miami-Fort Lauderdale-Pompano Beach area was 31% in 2012, when foreclosure activity rose 36% from a year earlier, RealtyTrac said.

Though the huge projection of foreclosures has long been expected to create a downward pressure on home prices, strong demand for South Florida housing and a tight inventory of available homes for sale have so far trumped that force. 

 
 
Throughout the years I have helped many friends and clients purchase or sell property throughout Miami.  If you are interested in purchasing or selling a home, please contact me as I can give some first-hand sound advice with no pressure.  Please send me an email at carolapawley@gmail.com or call me at 305-992-6188. 
 
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Great to have you on my site! Seeking to sell or buy property in Coconut Grove, Coral Gables, or anywhere in Miami? I can assist you. Real estate is my area of expertise and Miami-Dade the place I grew up. I know the communities, the schools, the culture, and the business of real estate. I’ve consistently ranked in the top 1% of my field, locally and nationally. I’d love to have the opportunity to introduce myself and discuss your real estate needs. Let’s connect: PH 305-992-6188,EMAIL: carolapawley@gmail.com

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