1220 NW 68 ST, Miami, FL 33147
- 2 bedroom, 1 bath SFH
- Bought in April 2005 for $139,700
- On the MLS for $72,900
- Days on the MLS: 72 Days
- Loss before the Realtor® commission: $66,800
- Loss after the Realtor® commission: $71,174
Sunday, November 25, 2007
Today's F@cked Buyer (Liberty City)
Someone once paid nearly $140,000 for this shack in Liberty City. Yet, there are still people out there that claim there was never a bubble. It's being offered at a 48% discount from its 2005 purchase price.
1220 NW 68 ST, Miami, FL 33147
1220 NW 68 ST, Miami, FL 33147
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12 comments:
Did any one talk about this one yet? MLS F886671 2320 N.E. 48th St
LHP NFB, asking 699k, paid 870k in
05, chas minutolo, looks like he is taking $ out of the house, two mtgs,= approx 580. recent in aug,
its still a 1970 1200 sq ft box and a tear down in my view.
and not worth to me what he owes.
It was definitely was a bubble when peopler were paying that much for crack houses.
In order to be cash flow positive, this "investment" probably would have needed to generate around $1,400 a month. At the time of the pruchase, there were 2-bedroom condos renting for less than that on luxurious highrise apartments on nearby Brickell (without the added bonus of drive-bys).
Even now, the price is ridiculous. It requries $20,000 in improvements and would never fetch more than $800 a month in Section 8.
Is there any way we can just completely remove that house from our beautiful planet, like shoot it in a rocket to the sun?
If I was a crack head I would be ashamed to tell people that was my crack house.
$20,000 in improvements?
The kevlar walls that place needs are going to run way more than that.
Check this out
http://fortlauderdale.craigslist.org/rfs/488959204.html
hahahaha
Good one 2l,
I bet that guy spends more than 90% of his time thinking of ways to get out of that contract. If all he came up with is asking what he paid in 2005, then he needs to spend more time thinking about it.
Well it's not a bad price. The home comes with its own personal crackhore, a child molester nextdoor and great oppertunity to open your own stay at home business - SELLING CRACK!!!
110
Danielle,
I appreciate your comments and I apologize if in my zeal to counter the anonymous posting I may have directed my fire too closely in your direction.
Peter has no problem with those who disagree with him...we are just trying to keep it civil.
He looks forward to meeting you again in TVland.
Andrew Schiff
This is interesting:
http://bcpa.net/RecInfo.asp?URL_Folio=494234032830
http://fortlauderdale.craigslist.org/rfs/490303608.html
21,
Seems to me that is a scary neighborhood too!
As I recall, anything on Sunrise further west than a few blocks of Fed Hiway gets exciting.
He must be high on dr danni's cali-cheerleading get rich in RE books. LOL
I used to live at 15th and Federal and really liked that neighborhood. I wish that house was in that neighborhood.
This place should be the poster child for the So Florida Housing Bubble. LOL.
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