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Spring 2012 Market Update
FHA financing is the way to go in Kendall. 3.5% down can be used for financing up to $417,000.
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| Average Home Price | $250,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 5-10% |
| Average Time on Market | 10-30 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | Equal buyers and sellers |
| Buyer Activity for the past 90 days in Kendall is | Increasing |
| Seller Activity for the past 90 days in Kendall is? | Decreasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Foreclosures under $200,000 are getting as many as 50 offers well over asking price within 24 hours. Regular sales in updated condition, even those priced at $500,000, are selling fast with multiple offers. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 20-25% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | good financing is available through FHA for many townhouses and single family homes. One stumbling block to financing is homes missing appliances or kitchens or baths. The appraisers are being very conservative and many sales are being challenged with appraisals below the true market value. |
| Housing Inventory | Limited Supply |
| Inventory Comments | Many foreclosures and short sales continue to dominate market in the Kendall area, especially in West Kendall. A foreclosure in decent condition is selling very quickly with multiple offers often 10-30% above the asking price. Cash is king! Regular sales, priced right, are selling in a matter of days, often with multiple offers and over the asking price. |
| Greatest Activity | Investors |
| Reason to Buy/Sell | Low prices and competitive interest rates creates a perfect time to buy in Kendall! |
| Nearest Metro Area | Miami |
| Housing Hot Spots | West Kendall foreclosures are selling fast, at the same time they are selling for 10+% over the asking price for cash. East Kendall is selling like hot cakes! |
| Average Sold Price | $250,000 - View Graph Trend |
Kendall Local News
News for Kendall, FL - January 19th, 2012 12:08pm
There are currently 259 single family home properties on the market in 33176 and 33186. Of those, 60 are short sales and 18 are foreclosures. There are many investors currently purchasing with cash, limiting the opportunities for those homebuyers who need financing. The foreclosures are being listed for low prices, then the lenders are waiting 30 days, trying to get as many cash offers over the asking price as possible. The highest cash offer wins!
On the short sale news, only about 10% are actually getting to the closing table before foreclosure. Many properties have multiple bank loans on them, and it has been challenging to get all the different banks associated with the property to agree on the payoffs for each. It is a lengthy and arduous process, which only is successful for a small percentage of properties. The properties which are regular arms length sales are selling in days if priced well and in good condition. I am seeing a lot of multiple offers as well, in as short a time as two or three days!
News for Kendall, FL - January 12th, 2011 2:35pm
Kendall has many short sales and foreclosures available. At the same time, there are many investors currently purchasing with cash, limiting the opportunities for those homebuyers who need financing. The foreclosures are being listed for low prices, then the lenders are waiting 30 days, trying to get as many cash offers over the asking price as possible. The highest cash offer wins!
On the short sale news, only about 10% are actually getting to the closing table before foreclosure. Many properties have multiple bank loans on them, and it has been challenging to get all the different banks associated with the property to agree on the payoffs for each. It is a lengthy and arduous process, which only is successful for a small percentage of properties.
News for Kendall, FL - Thursday August 6th, 2009 4:50pm
Kendall is a real "hotspot". In west Kendall there are many short sales and foreclosures available. Where short sales are concerned, however, only about 10% seem to get to the closing table. Foreclosures under $200,000 in good condition are selling within days with many offers over the asking price.
Contact Information
Linda Tartak ABR CIPS CRS GRI
305-962-5156
Request More Information Let me answer your questions!
Ask Me!
Mortgage Rates
– May 28th, 2012 –
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30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Request More Information Let me answer your questions! Ask Me!
Linda Tartak ABR CIPS CRS GRI
Coldwell Banker
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 305-962-5156
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