I saw the morning news today and I am fond of those little reports where they tell everyone in the US what the real estate market is really all about! Today's news snip it was about those condos in Miami that you can buy for under $50,000. As they put it, its cheaper than a car! Great for those 1st time buyers who want 700 sqft, $500 a month fees and right on the beach or Bay.
The high point of the story was that those condos were selling for $150,000-$250,000 in 2006. As the reporter noted better pick them up quick because they won't last at this price. The number of condos they quoted available, between Miami and Palm Beach was 68000.
In Ocala Florida, where I work and live, you can buy a 3/2/2 about 1400sqft on a .25 acre lot for $60,000. We share the distinction with Orlando as being the cheapest places in Florida and the US to live. Median price is at $98,000. There's only 1200 of those on the market, so you better pick them up quick!
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