Foreclosures Impact Wilton Manors Real Estate

Chart Showing Foreclosures in Florida that will impact Wilton Manors Real Estate

Foreclosure / Pre-foreclosure Activity
Still Strong in Florida

Foreclosures and pre-foreclosures are still impacting Florida Real Estate including both Wilton Manors Homes and Condos for sale and the number of Fannie May and Freddie Mac “pending” foreclosures are at levels above those seen in 2010!

Sections of Wilton Manors Real Estate  – especially East Wilton Manors appear lest likely to be impacted – while foreclosure homes and condos are still pending release in both Central and West Wilton Manors!

Neighborhoods outside Wilton Manors will see a much greater impact – over the short-term which will suppress prices for Real Estate across the board – making now a great time to buy!

In this New Report for Nov/Dec 2014 we review both Foreclosure and Pre-Foreclosure activity in both Fort Lauderdale and Wilton Manors

Wilton Manors Real Estate
Foreclosure Activity

In the last 12 months we have had 2099 single family home foreclosure here in Fort Lauderdale with just 9 of these being Wilton Manors Homes.

The median market analysis report for foreclosure for single family homes in both Fort Lauderdale and Wilton Manors is presented below

Median  #Beds #FBaths SF/FF Sale Price SP$/SqFt SP$/LP$ Days on Market
FortLauderdale 3 2 1,517 $158,000 $108 99.04 41
Wilton Manors 3 2 1,473 $232,000 $159 90.94 77


We can see from this report that median price for a Wilton Manors single family home sold as a foreclosure at $232,000 was well above that for Fort Lauderdale at $158,000.
 

In the last 12 months we have had 2976 condo foreclosure here in Fort Lauderdale with 16 of these being in Wilton Manors

The median market analysis report for foreclosure for condos / town homes in both Fort Lauderdale and Wilton Manors is presented below

Median  #Beds #FBaths SF/FF Sale Price SP$/SqFt SP$/LP$ Days on Market
FortLauderdale 2 2 1,051 $85,000 $83 99.11 43
Wilton Manors 2 1 806 $131,550 $145 99.36 82

 

We can see from this report that median price for a Wilton Manors condo town home sold as a foreclosure at $131,550 – approx 55% above that for Fort Lauderdale condos / town home at $85,000.

Wilton Manors Real Estate
All Foreclosure Activity

If we look overall at Wilton Manors Real Estate we see that there have been a total of 157 single family homes sold as foreclosures as well as a total of 191 condos / town homes sold as foreclosures – based on data recorded on the MLS

The median market analysis report for foreclosures for single family homes and condos / town homes in Wilton Manors is presented below

Type #Beds #FBaths SF/FF SalePrice SP$/SqFt SP$/LP$ DoM
Homes 3 2 1,439 $180,000 $127 99.68 30
Condos 2 1 900 $79,000 $104 100 27

 

We can see from this report that the median price for a home sold as a foreclosure here in Wilton Manors has been $180,000 and the median price for a condo has been $79,000.

Ft Lauderdale / Wilton Manors
Foreclosure Activity

The following map – shows pre-foreclosure activity here in Fort Lauderdale – activity in and around Wilton Manors.

foreclopsure activity that will impact Wilton Manors Homes for Sale

It is easy to be taken back at the level of foreclosures in and around Wilton Manors – especially in Fort Lauderdale neighborhoods including South Middle River and Lauderdale Manors.

It is this activity the will impact on real estate prices across the board – in effect suppressing home price increases overall and prices increases for Wilton Manors homes too.

The good news is if we look in more detail at Wilton Manors

Wilton Manors Homes - Pre-foreclosure activity map

We can see from the map above – how East Wilton Manors has only a few homes / condos in pre-foreclosure while Central and West Wilton Manors have the largest number.

Also important to note is the relatively few waterfront Wilton Manors homes in pre-foreclosure and that no homes are in foreclosure based on this data in Lazy Lake or Jenada Isles – all positive signs!

An improvement over my last post on Wilton Manors Foreclosures

Kevin Wirth realtor

My Thoughts

The foreclosure “blight” that impacted Wilton Manors Homes and Condos for sale – is almost at an end.

However many of the neighborhoods around us have a-ways-to-go to get their inventory of foreclosures to market and then sold.

The impact of foreclosures in other neighborhoods will I believe suppress all real estate prices including those of Wilton Manors homes and condos for sale – especially over the next 1-2 years!

From my perspective now is a great time to be buying a Wilton Manors Home or Condo – as demand is strong and inventory of homes for sale in high – making it almost a buyers market.

I hope you enjoyed reading my post on Wilton Manors Real Estate foreclosure and pre-foreclosure activity – by Kevin Wirth Realtor