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Cheap condos

August 4th, 2010 at 06:03 am

Wow, check out this cheap Miami Florida condo. Amazing price, especially for 1.5 baths. More than workable for a single guy like me. I wonder what the catch is? The place itself is likely to be unremarkable, but the location sounds great.

12 Responses to “Cheap condos”

  1. creditcardfree Says:

    I was actually amazed at some of the prices of other real estate in Florida when I looked recently. It seemed many homes were short sales, too.

  2. rob62521 Says:

    I'm with you, BA. Wonder what the catch is. I've heard housing prices have really been down in Florida, but even this seems a little much.

  3. MonkeyMama Says:

    There are no other tenants, and the so the condo fees will be $10,000 per year. Big Grin
    Living in Sacramento, that is the first thing that comes to mind. There are plenty of homes for sale with unfinished lots, surrounding. Not THAT cheap, so there could be other catches. Big Grin

  4. MonkeyMama Says:

    I meant to say $10k per month!

  5. Broken Arrow Says:

    Congrats MM, you've successfully talked me out of this deal. Big Grin But yeah, I'm with you guys. There's got to be something wrong with this picture. Maybe it's a serious fixer-upper in a bad location or something. At the very least, it's a foreclosed home.

    Still though, if I am to be remain single into the foreseeable future, I would really like to find some affordable (but somehow decent) housing somewhere. I just don't want to pay a lot.

  6. MonkeyMama Says:

    I did read an article a while back about a family that was the ONLY ONE to close on some high rise upscale condo or co-op. I mean, there were hundreds of empty apartments there. It was possibly in Florida. I believe in the end, the developer bought it back. For a while they were in limbo.

  7. campfrugal Says:

    Hey BA, in case your interested, here is the demographics of Ives Estates, Florida. http://www.city-data.com/city/Ives-Estates-Florida.html

  8. Broken Arrow Says:

    Oooh, that's fascinating, campfrugal!

    I see, so it's like a poor neighborhood basically, with the area making around $30k to $50k per household. Shocking that the top % jobs there are sales and admin work....

    Only 1 in 4 has a college degree too....

    Temperature is great, though humid.

    Very interesting they have all this data for us to look at. The only glaring omission is data on street crime. Hmm.

    Anyway, thanks again!

  9. MonkeyMama Says:

    Kind of interesting, but usually this type of data pulls from the U.S. census. The last complete one being year 2000. So, I'd be wary looking up city data online. You'll get an idea, but it could have changed a LOT in 10 years. Just hard to say.

    Interestingly, I couldn't see where this data pulls from. Other similar sites do reference the 2000 census, though.

    It will be interesting when these sites are updated for year 2010 census data, eh?

  10. Ima saver Says:

    You would have to pay me a lot more than that to live in Miami! Nobody even speaks English!

  11. Miclason Says:

    LOL! Ima, my ex-mother in law used to live there (she's salvadoran) and she used to say that Miami feels like itīs CLOSE TO the US, rather than part of it!

  12. baselle Says:

    You have to visit, then you can see the catches and whether its something you can live with. Often its the neighborhood, the condo fees, perhaps the taxes, your neighbors, whether the bank is financing for that low a price, the mold situation ... but the price is sure right.

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