Pinecrest Home Prices
Right now the average home value in Pinecrest is approximately about $970,000. The prices in homes in pinecrest was expected to go up 4% over the past year, and Miami Listing Agent believes that those prices will continue to rise 0.8% in the next year to 2019. Moreover the average price per square foot in Pinecrest is just about $400, and that is somewhat higher than other areas like Miami, Fort Lauderdale and even West Palm Beach Metro that are at just about $219. Right now the average home price of a home in Pinecrest is about $1,300,000
Mortgages in Pinecrest
The first step to foreclosure is not being able to pay your mortgage on time. This usually happens if borrower does not make a mortgage payment on time. The percentage of delinquent borrowers in Cutler Bay is 1%, and that which is higher than the national value of .9%. Now that home values in the USA have fallen by more than 19% nationally from the high of 2007 all the way through to late 2011, almost all homeowners are upside down on their mortgages, what this means is that, now they owe more than then the home is worth. Currently the percentage of Cutler Bay homeowners underwater is about 7%, which is much higher than Miami, Fort Lauderdale or even West Palm Beach which are at about at 7.2%.