If you were to guess how many 3 bedroom waterfront condos in South Beach are either bank owned foreclosures or preforeclosures (short sales) that are available for sale, what would you guess the number to be? Keep in mind all of the dire predictions emanating from the many voices of doom that include the media, top economists and the many real estate "experts" throughout the country.
There are literally only 4 condos (1 is bank owned; the other 3 are short sales) in the South Beach area that are at least 3 bedrooms/3 bathrooms in waterfront buildings. Two are in the Floridian at 650 West Ave., which is on the bay side of South Beach; 1 Century Lane is on the bay side as well but close to the Venetian Islands. The last one is very over-priced and overlooks Government Cut separating Fisher Island and South Pointe (listed at $2,000/sf). Three of them are priced under $500 per sq.ft.
Click on the link below to view them. Remember to use the Arrows at the bottom of the page to move to another page. Click inside the small box (1/8) in the left upper corner of the photo to advance to another photo for that listing. 4 DISTRESSED CONDOS IN SOUTH BEACH
I have also done a search for what I would consider the best values in South Beach for waterfront condos or town homes with at least 3 bedrooms listed for sale under $2.5 Million. These are in higher end buildings than the condos indicated in the previous link (except for the over-priced short sale). Three of these are priced between $730 and $803 per sf; one is at $900+/per sf and the town home is at $1,067/sf. They are in much better buildings so the prices reflect that.
Click on the link below to view them. Remember to use the Arrows at the bottom of the page to move to another page. 5 BEST VALUES-SOUTH BEACH WATERFRONT CONDOS UNDER $2.5 MILLION
There are other condos that are not REO's or short sales that are competitively priced and are potential deals. The oceanfront buildings have lost some of their value over the last 2 years, so there are some deals there. The condos on the bay side of South Beach are typically about $200-$400 per sf less than the beachfront ones. It is just a matter of finding the right motivated seller. There are also some newer buildings just north of South Beach that present some decent buying opportunities.
For more information about Distressed Property and other good real estate deals in Miami, Miami Beach and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs, International Real Estate Specialists and Certified Distressed Property Experts.
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