At the moment, there are no Boca Raton condos in gated communities on the water asking less than $130,000. Right now, the lowest asking price for a condo in Boca Bayou is $149,000.
Because of recent news that inventory is down by over 35% and that prices are expected to rise at a 6 - 10% pace this year, investors and second home buyers have come down to Florida and snapped up anything that used to be reasonably priced.
Owners who are selling or contemplating selling homes in Boca Raton are now asking higher prices for their properties and giving away less and less on price.
You can find a few condos in Boca Raton in gated communities at prices at under $130,000, but none are on the water and most are in country club communities. You might want to look at La Paz and Mongego Bay in Boca Pointe, where there is currently 1 short sale condo available in each community for under $130,000.
The only other places you will find Boca condos in gated communities at under $130,000 are within the Boca Raton country clubs, where prices have fallen dramatically. Boca West has a large number of condos for sale, but there is a $75,000 up front equity that must also be paid along with the price of the condo.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions