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Saturday, January 22, 2011

Auburn Lakes Subdivision in Viera East - Short Sales Dominate Market

Last summer I thought that the Auburn Lakes subdivision in Viera East had escaped the short sale and foreclosure problems many of the other Viera subdivisions were facing.

Just seven months ago Auburn Lakes had four of  five sales closing that were standard sales - no short sales or foreclosures.  Amazing the difference a few months seems to make!

As of today, January 22, 2011, there are five active listings in Auburn Lakes with three of the five being short sales and another a foreclosure.

Not coincidentally all four of the "distressed sale" homes for sale in Auburn Lakes are priced between $145,000 and $150,000.  It is no secret that many of the homes are priced so closely because you will find very similar floor plans - all 1,911 sq ft under air, two car garage, and were built in 2003 and 2004.

If you are considering purchase of a home in Viera and want to be near an excellent elementary school (Ralph Williams Elementary), near several golf courses like Viera East Golf Club,  close to parks, with easy access to Viera High School and The Avenues Mall, I would definitely recommend  Auburn Lakes!

There are four properties under contract at this time with two being short sales and another a foreclosure

Since November 2010 there have been only two properties (both 4 BR/2 Bath, 1,911 sq ft) sold in Auburn Lakes:
  • 4510 MANCHESTER DR   -  $146,000  - short sale
  • 1228 AUBURN LAKES DR - $181,500 - standard sale
For information on buying or selling homes in Auburn Lakes, give me a call at 321-693-3850 or email me.

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