I counted 29 homes for sale in the Thousand Oaks subdivision, a small community in Riviera Beach. All seem underwater. Most are not homestead, which means these F-cked Buyers are mostly F-cked Speculators. Of course, there are few sellers that have ridiculously high asking prices (AKA "wishing prices"), but their chances of selling are nil.
You can expect for a load of foreclosures in this community in the coming months.
Here's a sampling of five properties currently on the market. Note the price on this first unit and you'll see that the other sellers are much more F-cked than idicated by their wishing prices:
2377 Center Stone Lane, RIVIERA BEACH, FL 33404
- 3 Bed, 2.5 Bath, SFH
- Bought in February 2005 for $273,005 (foreclosed on in February 2007)
- On the MLS for $204,900
- Loss before the Realtor® commission: $68,105
- Loss after the Realtor® commission: $80,399
1107 CENTER STONE LANE, RIVIERA BEACH, FL 33404
- 3 Bed, 2 Bath, SFH
- Bought in April 2005 for $314,106
- On the MLS for $299,000
- Loss before the Realtor® commission: $15,106
- Loss after the Realtor® commission: $33,046
2362 CENTER STONE LN, RIVIERA BEACH, FL 33404
- 3 Bed, 2.5 Bath, SFH
- Bought in August 2006 for $310,000
- On the MLS for $294,000
- Loss before the Realtor® commission: $16,000
- Loss after the Realtor® commission: $33,640
2380 Center Stone Lane, RIVIERA BEACH, FL 33404
- 3 Bed, 2.5 Bath, SFH
- Bought in August 2005 for $283,698
- On the MLS for $229,000
- Loss before the Realtor® commission: $54,698
- Loss after the Realtor® commission: $68,438
2217 Oakmont Dr, RIVIERA BEACH, FL 33404
- 3 Bed, 2.5 Bath, SFH
- Bought in March 2005 for $260,000
- On the MLS for $249,000
- Loss before the Realtor® commission: $11,000
- Loss after the Realtor® commission: $25,940
I need your help with this daily feature. Do you know of a F@cked Buyer? Just add the MLS number or the FSBO link in the comments section and I will add it to an this daily update in the future.
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8 comments:
Morons spent over $300,000 for homes in Riviera Beach? WTF?
Elvis used to sing about Riviera Beach:
As the rain flies
On a warm and gray Riviera Beach mornin
A poor little baby child is born
In the ghetto
And his mama cries
cause if theres one thing that she dont need
Its another hungry mouth to feed
In the ghetto
People, dont you understand
The child needs a helping hand
Or hell grow to be an angry young man some day
Take a look at you and me,
Are we too blind to see,
Do we simply turn our heads
And look the other way
Well the world turns
And a hungry little boy with a runny nose
Plays in the street as the warm wind blows
In the ghetto
And his hunger burns
So he starts to roam the streets at night
And he learns how to steal
And he learns how to fight
In the ghetto
Then one night in desperation
A young man breaks away
He buys a gun, steals a car,
Tries to run, but he dont get far
And his mama cries
As a crowd gathers round an angry young man
Face down on the street with a gun in his hand
In the ghetto
As her young man dies,
On a warm and gray Riviera Beach mornin,
Another little baby child is born
In the ghetto
Hey, can you site a few examples of F'cked owners in the 33301 zip code? This is the zip for downtown FTL. I haven't really seen a drastic drop in prices. Sellers are still asking 400K for a 2/2 condo and 600K for a 3/2 single home!
That's the area where there are tons of signs for $0 down homes/loans all up and down Congress on the way to the World's Messiest Super Wal-Mart. The Thousand Oaks homes look nice from the outside, but that is a very crappy area.
I think were also planning on building another neighborhood on the corner of Congress and Blue Heron. The ads were up for a long time, but I guess they gave up since there is a bank there now.
I'd like to post this one for your list:
16295 SW 26th St.
Miramar, Florida 33027
Purchased: 08/15/06 $385,000
Listing for: $339,900
MLS# D1191547
Please double check my info but I think that's correct.
Goes to show that no area of South Florida is immune from this major correction.
Does anyone have a link to Closed Sales?
The closest I've found is http://www.buybeach.com/neighbors/index.htm
Never mind - I did more poking around on the same website and came across:
http://www.buybeach.com/recent_sales/data/con0707.htm
how about some stories about Canyon Lake Estates in Boynton Beach....
Check out these townhome a block away from Sistrunk Avenue. $340,000. Those idiots are still waiting on the Downtown Development of Sistrunk. Yeah o.k.
Idiots.
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