This unit was originally listed for $225,000 over 250 days ago. They have dropped their price 11 times since then.
11111 BISCAYNE BL Unit: 5H, MIAMI, FL 33181
- 1 Bed, 1.5 Bath Condo
- Bought in May 2006 for $175,000
- On the MLS for $130,000
- Loss before the Realtor® commission: $45,000
- Loss after the Realtor® commission: $52,800
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7 comments:
At least you'll have easy nearby access to hookers and crack if you bought in this neighborhood.
Home in Tamarac
Address:
7800 NW 67 Ave
Tamarac 33321
MLS: D1218625
Bought on 6/28/2005 for $253,000
http://tinyurl.com/279geu
Listed for sale at $200,000
http://tinyurl.com/252z8b
$329,900
4 Bed, 3 Bath
1,374 Sq. Ft.
0.17 Acres
Estimated Payment:
$1,603 Per Month*
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2868 SW 69 AV
MIAMI, FL 33155
MLS ID# M1162488
Sale O/R: 24376-0819
Sale Date: 3/2006
Sale Amount: $470,000
How do you even begin to fit FOUR bedrooms and THREE bathrooms in 1300 square feet??!!!
5x5 rooms for everyone!!!!
Off Biscayne ? LOL. Learn to speak Creole
If you buy now, you will find a house like the one you bought for $100K or more less than what you paid. You effectively will be catching a falling knife and become instantly underwater on your mortgage! Imagine going to the bank and asking, "I'd like to open an account for minus (-)$100K". After years of deposits adding up to $100K you will have $0 in the account. Silly isn't it? Well that is exactly what you will be doing if you bought a house right now. Maybe a little more, or a little less, but either way doesn't sound too good does it?
http://patrick.net/housing/crash.html
email me your thoughts on the south florida market to dontbuy2007@yahoo.com
I know this property, it's the Jockey Club, built in the late 60s. Used to be a favorite among the cocaine cowboys and had a lot of wild parties. Not a bad looking complex, on the bay and manned by 24 hour guard tower. That part of Biscayne isn't even that bad if you're going to be in the city of Miami, that's as good a place to be as any.
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