Getting closer to city's market values

House on Foreclosure - 2557 TRAPP AV, Miami, FL 33133

Bedrooms:	3
Full Baths:	3
Partial Baths:	0
Square Feet:	2,219
Lot Size:	3,419 Sq. Ft.
Year Built:	1981

Sale History (from Zillow)
05/04/2006:	$706,000
12/06/2005:	$610,000

city's market value: $417,220
Zillow's market value: $715,919

The house was for sale last year at $850,000.00 and reduced to $760,000 on February 2007. The bank took over and relisted it on May at $719,900
Reductions after that:
06/09/07 -- $719,900 to $690,900
7/31/07 -- $663,500 to $577,500
09/18/07 -- $521,200

Back to 2005 prices. ...at least...

Townhouse for sale
3103 OAK AV , Coconut Grove, FL 33133

Good location, across the street from the tennis courts. Built on 2004, 3 bed, 2 1/2 bath 2200 sq.ft. 152 days on the market and a couple of reductions.

Original asking price $649,000; last reduction on 07/20/07 to $549,000.

Last sale was on March 2005 and they paid $535,000. Looks like they really need to sell and can't reduce more without loosing money.

Not bad, they found a buyer at $549,000 on 8/2007!

What were they thinking!!

4036 MALAGA AVE, MIAMI, FLORIDA 33133

This property is scheduled for a foreclosure sale by the Dade County Clerk on August 8, 2007

The property owner paid $1,550,000 for the house on 04/20/2006. The previous owner bought it on April 1997 for $330,000

The city's market value: $803,409
ZESTIMATE™: $1,695,489

Other houses for sale on the same street range in asking price from 600K to 900K

Here the house specs:
Beds/Baths: 5/4
Floors: 1
Living Units: 1
Adj Sq Footage: 3,243
Lot Size: 6,150 SQ FT
Year Built: 1953

Total Amount past due taxes: $ 43,148.04

Short sales

2508 SW 29 AV

Beds: 4 | Baths: 3 | Sq. Ft.: 1,029 | Lot Size: 2,600 SQ FT

Year Built: 1956 | Entered Date: 06/27/07


Listed for sale at $495,000.00 on February 2007
Relisted on June 27 at $375,500.00 and... "All offers will be considered"

New Reduction on 7/27/07 -- $375,500 to $345,000

Interesting to know, the previous sale was a year ago and they paid $410,000, way over the city's market value of $191,273!!!

Zillow's market value however is $445,398

Foreclosure Sales by Clerk of Courts

07/05/07 3207 MCDONALD STREET MIAMI, FL 33133
07/05/07 3773 FROW AVE, MIAMI, FL 33133
07/06/07 2889 MCFARLANE ROAD UNIT 1113, MIAMI, FL 33133
07/06/07 3180-82 SW 25TH TERRACE, MIAMI, FL 33133
07/11/07 2653 SW 32ND AVE, MIAMI, FL 33133
07/11/07 2889 MC FARLANE ROAD, CONDO UNIT #1118, MIAMI, FL 33133
07/11/07 3440 PERCIVAL AVENUE MIAMI, FL 33133
07/12/07 2641 SW 31 AVENUE, MIAMI, FLORIDA 33133
07/12/07 3051 SW 27 AVENUE #102, MIAMI, FL 33133
07/18/07 2756 DAY AVE, UNIT #402, COCONUT GROVE, FL 33133
07/26/07 3085 OHIO STREET MIAMI, FL 33133
08/02/07 90 EDGEWATER DR., #523, CORAL GABLES, FLORIDA 33133

June winners

Biggest reductions on houses sold last month

2335 SW 27 LN 1,080 sq.ft. 2 bed / 1 bath Built: 1947
Asking Price: $525,000.00
Sold Date/Price: 6/1/2007 / $390,000 Total Reduction: 25.71%

List of Reductions:
11/25/06 -- $525,000 to $499,000
01/17/07 -- $499,000 to $470,000
Relisted on May '07 - $430,000


2843 S BAYSHORE DR # 7A 1,142 sq.ft. 2 bed / 2 bath Built: 1982
Asking Price: $599,000.00
Sold Date/Price: 6/12/2007 / $410,000 Total Reduction: 31.55%

List of Reductions:
Relisted on Oct '06 - $544,900
Relisted on May '07 - $449,000


3164 PLAZA ST 1,227 sq.ft. Built: 1926
Asking Price: $419,000.00
Sold Date/Price: 6/19/2007 / $270,000 Total Reduction: 35.56%

List of Reductions:
05/17/06 -- $419,000 to $399,000
08/22/06 -- $399,000 to $339,000
01/28/07 -- $339,000 to $299,000