3550 NW 8TH AV Unit: 803, POMPANO BEACH, FL 33064
- 2 Bed, 1.5 Bath Condo
- Bought in August 2005 for $126,900
- On the MLS for $76,500
- Days on the Market: 110
- Loss before the Realtor® commission: $50,400
- Loss after the Realtor® commission: $54,990
Saturday, October 6, 2007
Today's F@cked Buyer (Pompano Beach)
This foreclosure is selling for 40% less than its 2005 purchase price.
3550 NW 8TH AV Unit: 803, POMPANO BEACH, FL 33064
3550 NW 8TH AV Unit: 803, POMPANO BEACH, FL 33064
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7 comments:
5072 SW 88TH TERRACE
COOPER CITY, FL 33328
MLS ID# D1225229
listed for $240,000.00
sold for $250,000 - cash
sold in 05 for 390k
I just lost the bid at 230k, im kinda upset
I'm not familiar with the area. But, at this price, is it possible for this property to be a cash-flow positive property?
At the price, you could probably buy this and pay only $850/month in PITI+HOA. Couldn't you rent this out for more than $850 a month?
You'll find better
That house swallows the lot
Yeah, I know there's better out there, but for the first time in four years, I am starting to see some properties that have some cash-flow possibilities. I'm still waiting to buy investment rental properties (not flipping properties), but I think we'll have quite a few to pick from in a couple of years.
The good news is I doubt there will be very many investors out there competing to buy rental investements.
Most long-term investors probably have lost their shirts in at the end of the bubble. And, any newbies will be scared off by the 50% drops.
I could be wrong, but I think two years from now will be the best time ever for rental investors.
Yea i was getting to excited, however it was the fist home i was excited about in a long time. I hope to see more like that one.
Steve - cooper city
"I could be wrong, but I think two years from now will be the best time ever for rental investors."
I totally agree. Next year is going to tell the story and once people realize the boom IS NOT coming back we will see some real bargains on a regular basis.
I am seeing steady list price declines on Ocean Access Canal front homes in Lighthouse Point and Deerfield Beach.
Heres another one. Not a bank repo, but an ocean access canal home on a great street in Deerfield Beach. Several houses from the inter coastal. MLS # F838807
Came on the market in July when there was only one deepwater home in Deerfield priced under $1 mil.($900k) This one started at $849k.
Price Reduced: 07/20/07 -- $849,900 to $799,000
Price Reduced: 09/07/07 -- $799,000 to $749,900
Now at $745 in a market that was touted as having "tear downs" worth $900k last year. A house several doors down just sold last year for $1.25 mil.
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