General Area in Miami Beach>Question Details

Sienna, Home Buyer in Brooklyn, NY

Is it possible to find small studio or one bedroom condos (approx 500 square feet) in Miami beach under 80k? Are foreclosure the only option?

Asked by Sienna, Brooklyn, NY Tue Aug 13, 2013

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At this price point under 80k in the Miami Beach Area property exists only in the form of foreclosures that are quite rare to find if at all especially in todays market as deals don't exist all that much anymore. Foreclosures are purchased usually by property investment groups well before they actually hit the "MLS" i.e. the property market. These groups in turn buy these properties and are simply buying the land to tear it down to build a brand new property to rent out as an investment. As a general consumer try to stay far away from foreclosures as you will be bidding against companies who have plenty of money and financial means to acquire these properties that could end up going well over the asking price, and you the general consumer end wasting a lot of your time and many times money as well . This price point of 80k is not a realistic price point for market value anywhere in the Miami Beach Area. You as the buyer need to re-evalute what you can afford to buy right now if at all and certainly bring up your price point to a more realistic number so you can have at least opportunity to put in a bid in market like Miami Beach. I hope this perspective helps you make the right decision. Please feel free to contact me with any further questions have a great week!
0 votes Thank Flag Link Tue Jan 20, 2015
Even if you could find anything, you probably spend more on repairs, assessments and etc.
0 votes Thank Flag Link Thu Nov 20, 2014
This property is available now Please call #86-734=45-75 for more information
0 votes Thank Flag Link Mon Oct 7, 2013
It would have been possible a year ago, but is unlikely in the current market. The most inexpensive listing I have on South Beach is $139K (351SF) which is priced competitively. You may have better luck searching the North Bay Village area. I know the prices are lower, but do not work in that area, and am unable to say for sure whether or not will find something for $80K.
0 votes Thank Flag Link Mon Oct 7, 2013
80k in Miami Beach? I seriously doubt it
0 votes Thank Flag Link Thu Oct 3, 2013
rent, find man, party... 80k get u sh&t hole.
0 votes Thank Flag Link Thu Oct 3, 2013
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