Information On How The Market For Surfside Homes Performed In 2012

Surfside homes are considered to be the perfect real estate option for individuals who are looking for a residential community that is situated within a waterfront location in Miami today. If you happen to be someone who would like to purchase one of the real estate options within the community, you are encouraged to take the time to learn all about how the market performed in 2012.The CommunitySurfside homes are found within a community that is located along the Atlantic coast of South Florida where people are able to indulge in the luxury of living right next to the ocean. It is found north of Miami Beach and south of Bal Harbour which means it is within close range to popular places that offer great dining, shopping, and even entertainment options which a lot of people seek when living within Miami.As a community, it is easily one of the most laidback choices for people in the region as it is free from all the hustle and bustle that takes places within areas in the Miami region today. People who want to experience life within a community that is tight-knit and rest-easy will find Surfside homes to be one of the number one choices on today’s property market.Sales Activity In 2012There were a total of 53 Surfside homes sold in 2012. Only 12 percent of the total had been comprised of distressed properties which include short sales and foreclosures. It is definitely a positive number since the percentages were higher in the past two years with distressed properties making up for 30 percent of all total sales in 2011 and up to 36 percent of all total sales in 2011.Price Per Square FootOne of the most notable changes in the market was a price appreciation. In 2012, the average price per square foot was $233 which is such a significant increase since the average price per square foot in 2011 was $193.Property buyers and investors who are looking for an opportunity to purchase one of many real estate properties within Miami that are sure to go up in value should really look into today’s selection of Surfside homes now that the figures are really speaking out loud and clear.The Three Most Expensive Sales In 2012People who are looking at the opportunity to purchase homes within the community will find the most expensive sales in 2012 to be quite impressive. Number one on the list is a four-bedroom, three-bathroom waterfront home that sold for $1,300,000. The second most expensive sale was for a four-bedroom, four-bathroom waterfront home which sold for $7,60,710. The third most expensive home was a three-bedroom, three-bathroom home on an inland location which sold for $625,000.Things are definitely looking up for the community as more and more people are now realizing the amazing value of Surfside homes on today’s property market, especially since property buyers and investors are sure to find the on-going price appreciation to be a very good sign to take into consideration.If you would like to learn more about the availability of Surfside homes on today’s property market, or if you would like to find out about other real estate options that are currently available within the community, you should contact a professional real estate agent for further details.

The Pros and Cons to Buying a Foreclosed Home

When making the decision to invest in real estate one of the best places to look in terms of value is in foreclosures. Economic downturns force more homes into foreclosure which create the perfect time for an investor looking to purchase property for private residence, rental or resale. Before taking that leap into investment it is important to do research and to understand that there are advantages as well as disadvantages to buying a foreclosure.One of the biggest advantages to purchasing a foreclosed property is the low price. Most foreclosures sell for 5 – 10% below market value, although some may sell for as low as 50% below their true market value. Most homeowners find that they can make a significant profit by reselling a home that was purchased in foreclosure. Due to this profitability, foreclosures are excellent for building equity, renting, and even making a personal fortune through wise investments.Banks and other lenders that sell foreclosed homes are usually in a hurry to sell. This creates more flexibility for the purchaser to negotiate financing options, down payments, closing costs, and other miscellaneous costs associated with home buying.Finally, foreclosures are frequently vacant so the purchaser does not have to wait for previous owners to move out. Foreclosures that are immediately available for move-in eliminate delays that often happen with the purchase of a home.Despite these advantages, many prospective homeowners will not consider purchasing a foreclosure. This is because there are many disadvantages associated with foreclosures.Due to the economic hardship that forces a home into foreclosure, these homes may be in poor condition. The previous owner probably would not have been able to afford proper maintenance and necessary upkeep of the property. Significant repairs and renovation may be required with the purchase of a foreclosure.Because foreclosed homes are sold as is, it is necessary for potential buyers to do more research. More paperwork is necessary and caution must be exercised due to the lack of guarantees.Foreclosed properties may have liens or property title liabilities. These hassles can make the process of buying foreclosures more expensive and can increase the paperwork even more.Finally, sometimes the former owners of a foreclosed property are in denial and refuse to leave the home. This can complicate and delay the move-in requiring eviction to be served.Clearly there are both advantages and disadvantages to buying a foreclosed property. It is necessary for a potential buyer to understand these pros and cons and to perform research before making any offers. Under the proper conditions buying a foreclosed home can be a very profitable investment, but it can also prove to be more of a hassle than the initial low cost is worth.