We live, work and play in Doral so we know the market very well. We’re the Doral Real Estate Specialists. The last quarter of 2010 was a very busy quarter for us. This last month we had an influx of cash buyers, mostly from Venezuela and Colombia, and some from the Dominican Republic. A lot of these sales won’t be recorded until January of 2011. As reported in this article-The Real Deal | South Florida Real Estate News , Doral property values are holding their own a lot better than surrounding markets in Miami. A lot has to do with investors absorbing our distressed property inventory.
Because Doral Real Estate is our business, we know it’s one of the best markets to invest in, but no matter how much we harp on Doral Real Estate, it sometimes falls on deaf ears. It’s like a parent trying to impart wisdom on a child, but because it’s the parents who’s the message is coming from, a child takes it for granted, but if they hear it from a friend or some other 3rd party, all of a sudden it becomes a revelation. Such is life. Below is Doral’s distressed property inventory to date. The smaller the inventory the higher the prices and the faster the recovery.
The rental market is also turning around. It’s a big market. The rates are back to 2008 levels, from dipping in 2009, and looks like prices might even inch up a little in 2011. For more detailed information search our blog-go to category, then click on market updates.
Doral Inventory: (Distressed Properties)
Condo/Towhome Short Sale
Available = 282 From $45,000 to $469,000
Sold 2010 =264 (Year to date
Sold 2009= 190
Condo/Townhome REO (Real Estate Owned-Bank is the owner)
Available= 47 From $44,000 to $424,900
Sold 2010 = 213 (Year to date)
Sold 2009= 212
Total Distressed Condo’s for sale = 329
Single family Short Sale
Available= 35 From $195K to 1 Million
Sold 2010 = 68
Sold 2009 = 35
Single Family REO
Sold 2010= 30
Sold 2009= 36
** Data source came from Miami Association of Realtors
“Nobody Knows Doral Real Estate Like teamDoral”
Thinking of buying, selling or renting real estate in Doral? Call the experts! teamDoral-Richard Recuset 786-287-9272 email: Richard@teamDoral.com
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