Market Conditions in Miami>Question Details

Stacie.vantr…, Home Buyer in Miami Beach, FL

I am American living abroad looking to buy something (apartment? SF home?) in Miami or Miami Beach. What will 200K cash get me?

Asked by Stacie.vantreese, Miami Beach, FL Thu Sep 13, 2012

I have spent a good bit of time in MIA but not in the past 10 years. Parents were in Coconut Grove 97-2005 and I like that area, but was thinking about Design District as I am a decorator....is that a sketchy area? What about Downtown? I want the most bang for my buck but also an area that would be marketable if I wanted to rent when not in the states (will probably use only 6 weeks a year personally). Any guidance appreciated. Will be in MIA area April 2013 to buy.

Help the community by answering this question:

Answers

9
Miami Beach and that too having soft spot for Southern part of Miami beach could nothing get better than St.Regis. Trust me, I could vouch for the fact as the luxury realtor has one of the best of living solutions. offerings across Miami.
http://www.stregisbalharbour-condos.com/
0 votes Thank Flag Link Wed Sep 19, 2012
Right now is the right time to buy. Although, prices have somewhat gone up in the areas you have mentioned and inventory is scares making a decision to buy by early next year should still be ok.

If planning to rent out the property part of the year, I would recommend a condo. This way your property maintenance will be looked out for by the building management.

The 'Design District' is very hot and seems to be getting hotter. With the opening of a brand new Catier Boutique and many more high-end shops looking to move in, the design district is destine to be the next hotspot in Miami-Dade. Downtown and the Brickell areas are happening as well. Downtown Miami is the new home of a Marriot Marquis and a new world class art museum is under construction.

I have left the Brickell area for last for one major reason. In my experience, due to the age of the buildings, the price per sq ft tends to be less and one can buy more for their dollar. These building are still premiere properties and in perfect condition, however, they tend to cost less due to their age.
If you would like, I could send you more detailed information. Contact me at 786.302.0351 or send me you email address. For even more information and search tools, visit me at http://www.insideMIAMIrealestate.com.
0 votes Thank Flag Link Fri Sep 14, 2012
Good Morning, investing in the Design District in a small home would be a very wise investment currently, as there is a major amount of work being done to the Design District. North Miami Beach is also an excellent place to buy. Potentially you could acquire a near waterfront condo in the 60's on Collins, view my site for info!
0 votes Thank Flag Link Fri Sep 14, 2012
Good morning Stacie,
I can put you on my alerts list so when a property become avaliable, it will be sent to you directly via email. Miami has cchanged so much as prices are steadily climbing up. The downtown miami or the design district is a great place to purchase. I know that you will be here next year in 2013 so I would advise you to sign up with a realtor's alert system to send you properties from here on out so you can see how the market is performing. I look forward to hearing from you and helping you with your search.
Thank you,
Tamika Moses
Keller Williams Realty Partners SW
954-404-4646
tmrealtor@yahoo.com
http://flapropertiesbytmoses.kwrealty.com/
0 votes Thank Flag Link Thu Sep 13, 2012
The Design District may be your best bet. It is really up-and-coming, it is a desirable place to live already and the prices haven't quite caught up. If you give me your e-mail address I can send you some properties that fit your criteria. Or if you would like to search the full MLS yourself, try http://www.mialiving.com/propertysearches

Best regards,
MIA Living
305-999-5335
0 votes Thank Flag Link Thu Sep 13, 2012
Hi Stacie,

Miami has changed A LOT in the last 10 years! You will be surprised!

In your situation, I would recommend a condo in the Miami Beach area. Maybe Downtown or Midtown, an upcoming area near the Design District. Those areas have a strong rental market, too.

In Coconut Grove there is not much that you can get for $200K, I am afraid. The same is true for single family homes in the areas that you are referring to. You might find something in The Hammocks or Cutler Bay if you are lucky.

Let me know if I can be of any help. I specialize in working with buyers and I would be happy to assist you!

Kind regards,
Ania Lenzholzer
Coldwell Banker Residential RE
0 votes Thank Flag Link Thu Sep 13, 2012
Hi Stacie,

Now is the time to buye especially in the $200,000 range. The design district has some attractive condos and they will be appreciating. Rent is going up and you would definitely be able to lease out as an investment. Coconut Grove is very nice and you can still find some good deals there too. I actually have a listing that may be on the market soon that would be a good fit.

Please e-mail me with your information to: Lina@CarreraHomes.com so that I can set you up to receive an update on the market for your review.

Thank you and I look forward to working with you!

Lina Carrera
305-999-1284
0 votes Thank Flag Link Thu Sep 13, 2012
Stacie, At this point for April 2013, I don't know what value of the properties be due to the market is moving very fast and prices going up and up in Miami. Everything is sale above listing price.

To have an idea and how the market is moving from now to April 13, more than glad to provide thru the multiple listing a search which notify to you in the Design District how properties are moving. Just e-mail me at nfigueroa3199@hotmail.com
0 votes Thank Flag Link Thu Sep 13, 2012
$200,000 cash will get you 4 SF homes in Atlanta and gross you over $4000 per month, complete turnkey, includes rehab and tenant. Call Terri Delbridge 678.541.8951 or tlmtittle@yahoo.com
0 votes Thank Flag Link Thu Sep 13, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer