Great News For Residents! Foreclosures Are Down On Key Biscayne

Key Biscayne is seeing a slowdown in the number of foreclosures hitting the market.  There have been 7 foreclosure properties sold so far in 2013 (all were condos) compared to 19 during the same period of 2012 (18 condos/1 single family home).  This is a trend we are experiencing across Miami-Dade County.  With values on the rise, we are seeing fewer and fewer homeowners defaulting on their loans.
Details of foreclosures sold on Key Biscayne during 2013:

1. 600 Grapetree Drive, Unit 3BS | Mar Azul | Sale Price: $1,145,000
2. 161 Crandon Boulevard, Unit 211 | Key Colony | Sale Price: $605,000
3. 1121 Crandon Boulevard, Unit F905 | Towers of Key Biscayne | Sale Price: $401,000
4. 150 Ocean Lane Drive, Unit 5B | Island Breakers | Sale Price: $330,000
5. 575 Crandon Boulevard, Unit 510 | Key Biscayne Ambassador | Sale Price: $$301,200
6. 100 Sunrise Drive, Unit 11 | Sunrise Club | Sale Price: $236,500
7. 100 Sunrise Drive, Unit 16 | Sunrise Club | Sale Price: $104,900

There are currently no active foreclosures (condos or single family homes) on the market on Key Biscayne.