Profile picture for mozdol

Looking for a suggestion in Florida

Thanks for spending time. My family wants to buy a foreclosure house from Miami, Miami Beach, North Miami, East and West Miami, Doral FL market. They are looking for a low MOA fee and low property tax rate condo or apartments. They want to pay all with cash and they can go up to $60000 cash. We are looking trustful and honest agents to help us find a foreclosure property. How does property tax rate is being calculated? Some nice deals out there but when you calculate property tax is very high and makes the monthly fees higher to pay for us. Thus, I want to work with agents in Florida to help us find the best deal in the market. Look forward to hear your replies.

Thanks very much,





Matt
  • September 29 2010 - Coral Way
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Answers (8)

Profile picture for dacolan
The Miami market is down 22.9% y-o-y (Coral Way is down 25.0% y-o-y) and falling, with a median price of over $150K according to the Zillow Home Value Index. Miami still appears to be a very risky area in which to buy, especially in light of the concentration of foreclosures and shadow inventory in the FL market. Caveat emptor.
  • September 29 2010
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Profile picture for mozdol
dacolan thanks for your reply.., but what do you suggest?what is your recommendation??
  • September 29 2010
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I think if you can find a home you like for $60,000 you should invest in it.

I used to work the south Florida market and from what my realtor friends tell me, lower priced properties are being snapped up quickly in Miami.

Eve in Orlando 

  • September 29 2010
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Profile picture for mozdol
Thanks Mike,

What do you suggest?foreclosure, short sale or auctions??

  • September 29 2010
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Profile picture for verakot
Does not look like the Florida's agents are jumping to your offer. Is this because $60K is too small for them or is it because you they can't find what you want??
  • October 18 2010
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Yes, as a Miami agent it is pretty much becasue we cannot find what you want.
60k will be a dissapointmetn here in Miami, as I replied to Stewie earlier.

Beth Jenkins
  • October 18 2010
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Profile picture for verakot
Thanks Beth. In your opinion, the prices in Miami are bottomed or they still have a room to go lower?
  • October 19 2010
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You may find condos under 60K but they are easier to find in the s and sw area in this price range.
Good luck !
  • October 26 2010
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