Home Prices That Shock Even Us

February 8th, 2009 Categories: Market Trends

Have you been sitting on the fence waiting for the right time to jump in and buy a home in the Miami area? If you answered yes, you’re probably in the minority right now.  Most fence sitters have jumped off and are actively looking at properties.  Our phones are ringing constantly with folks wanting to look at foreclosures.  The deals are just too good to pass up.

Some prices that have shocked even me lately:

• A 3 year old, 3 bedroom, 2.5 bath townhouse for $45,000 in Homestead. No, that isn’t a typo.  And no, you don’t have to wield your way home with a machete.  And heck, if you wanted to spring for another $3,900, you could have opted for the waterfront version.  Yes, I saw these deals.  And yes, they were scooped up quickly.
• A 4 year old, 3 bed, 2.5 bath, 1-car garage, 3-story (yes, 3!) townhome in excellent condition priced at $79,000. The kitchen had granite countertops and stainless steel appliances.  There was light streaming in through all the windows.  The 3rd floor had an extra loft space with a balcony that wrapped around the corner of the unit.  It really was gorgeous.  And it really was sold.  Cash.  All in escrow.  Sold in mere days.
• A 2 year old, 2 bed, 2 bath condo with a wide lake view for $29,900. Yes, the Honda truck that passed you on the Palmetto cost more than that.

The very best deals sell quickly.  And right now more are popping up.  But what happens when the last of the foreclosures gets sold?  No more rock bottom prices.  That won’t happen for a bit yet.  But rest assured that it will happen.  Don’t get left behind.  Get off that fence.

This entry was posted on Sunday, February 8th, 2009 at 7:23 am and is filed under Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Pasadena Real Estate said at March 7th, 2009 at 7:01 pm

   Those are great deals on condos. In my market place we have noticed Pasadena Condos drop about 15-20% from 2005. Definately this is the time to buy foreclosures.

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