Property Q&A in Miami Beach>Question Details

Yvona, Home Buyer in toronto on

please send me more informations with more pictures of this property, I'm writing from toronto on, thank you,

Asked by Yvona, toronto on Thu Jan 1, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2003374564--West-Dr-611-Mi…

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Mr. Kornicki will be continually surprised by the severity of this real estate downturn. Don't even consider purchasing in this COLLAPSING market for at least a year, if not two year. I'm looking for a full retracement to 1997 prices (adjusted for inflation). Government action only postpones the inevitable. Eventually the purchasers with 5% mortgages will have to sell and interest rates will eventually be 10% if not 20%. What will this do to home prices Mr. Kornicki?
0 votes Thank Flag Link Sun Jan 4, 2009
I would be very surprized if ANY property can be bought for $50K on West Avenue in Miami Beach, Florida. The information that is published is from a source that submits county recorded documents. Apparently the property has been noticed with a lis pendens, or some sort of legal redemption that was filed with Miami-Dade County.

The lowest asking price is a short sale, it is a 420 square foot studio- There are a handful of foreclosures and short sales between $100K and $200K in South Beach- The list inclodes those as well as a few in the 1-5 Million Dollar range as well.

I will attach a list of properties that are avaiable on West Avenue as a reference.

http://sef.mlxchange.com/Pub/EmailView.asp?r=678034997&s…
0 votes Thank Flag Link Thu Jan 1, 2009
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