Foreclosure & Bank Owned Condos - Miami, Miami Beach
Foreclosure & Bank Owned Condos in Miami Beach & Miami, Florida
February 16th,2013
Bank owned foreclosures are often the best opportunity to purchase Miami condos. Bank owned condos, are sometimes referred to as foreclosure, Real Estate Owned or REO.
Miami-Dade County Coastal Condo Prices Rise to $312.00 Average per Square Foot
Here is a list of available Miami bank owned condos for investment as of February 16th,2013. Please note that they are in order by city and their availability is subject to change without notice.
We are starting to see multiple offers on these; so please move quickly if you would like to purchase one.
If you are interested in acquiring any of these bank owned properties, please keep in mind that the banks will require a pre-approval letter if you plan to finance or a proof of US funds letter if your offer will be cash.
Please note: We have several highly-skilled Mortgage Lenders who can get financing even in financially "stressed" buildings!
Please visit www.MiamiCondoLifestyle.com or contact us at 305-479-0433 for further information.
Coastal Condos through February 16th,2013
| MCL ID# | Building Name | List Price | Beds | Area | $/SqFt | Year | Water View | Maint Fee | City |
|---|---|---|---|---|---|---|---|---|---|
| 3886 | UPTOWN MARINA LOFTS | $224,900 | 2 | 816 | $276 | 2006 | Y | $535 | Aventura |
| 3896 | PARC CENTRAL | $214,900 | 1 | 990 | $217 | 1990 | N | $581 | Aventura |
| 3897 | EL Dorado Towers | $259,900 | 2 | 996 | $261 | 1974 | N | $604 | Aventura |
| 3903 | VENTURE AT AVENTURA WEST | $284,900 | 2 | 1070 | $266 | 2005 | N | $531 | Aventura |
| 3905 | MARINER VILLAGE | $284,900 | 3 | 1143 | $249 | 1985 | N | $474 | Aventura |
| 3906 | ALAQUA | $374,900 | 2 | 1156 | $324 | 2007 | Y | TBD | Aventura |
| 3907 | ALAQUA | $345,000 | 2 | 1156 | $298 | 2007 | Y | $603 | Aventura |
| 3909 | VENTURE AT AVENTURA | $249,900 | 2 | 1179 | $212 | 2005 | N | $534 | Aventura |
| 3912 | TURNBERRY ON THE GREEN CO | $369,900 | 2 | 1245 | $297 | 2002 | N | TBD | Aventura |
| 3916 | EASTSIDE | $305,000 | 1 | 1330 | $229 | 2007 | Y | $548 | Aventura |
| 3917 | Uptown Marina Lofts | $403,300 | 2 | 1362 | $296 | 2006 | Y | TBD | Aventura |
| 3918 | MYSTIC POINTE | $279,000 | 2 | 1365 | $204 | 1989 | Y | $605 | Aventura |
| 3926 | Hamptons West | $329,900 | 2 | 1800 | $183 | 1984 | Y | $934 | Aventura |
| 3927 | Aventura Bay Townhomes | $561,000 | 3 | 2000 | $281 | 2002 | N | TBD | Aventura |
| 3928 | Terraces North at Turnber | $459,000 | 3 | 2290 | $200 | 1983 | Y | TBD | Aventura |
| 3929 | HIDDEN BAY | $2,975,000 | 6 | 5500 | $541 | 2000 | Y | $2,845 | Aventura |
| 3901 | PLAZA OF BAL HARBOUR | $285,000 | 1 | 1015 | $281 | 1965 | Y | $572 | Bal Barbour |
| 3922 | LANAI | $239,900 | 3 | 1531 | $157 | 1952 | N | $460 | Bal Harbour |
| 3892 | Brickell Harbour | $349,900 | 2 | 914 | $383 | 1974 | Y | $600 | Brickell |
| 3913 | COSTA BELLA | $324,900 | 2 | 1249 | $260 | 1977 | Y | TBD | Brickell |
| 3923 | BRICKELL FOREST | $399,900 | 3 | 1546 | $259 | 1980 | N | $882 | Brickell |
| 3878 | ISOLA | $244,900 | 1 | 708 | $346 | 1990 | N | $575 | Brickell Key |
| 3898 | Gateway to the grove | $239,900 | 2 | 997 | $241 | 2006 | N | TBD | Coconut Grove |
| 3899 | Gateway To The Grove | $219,900 | 2 | 998 | $220 | 2006 | N | $462 | Coconut Grove |
| 3930 | Gables Club | $7,900,000 | 4 | 11402 | $693 | 1996 | Y | $2,455 | Coral Gables |
| 3874 | FONTAINEBLEAU III SORRENT | $489,250 | 0 | 574 | $852 | 2008 | Y | $685 | Miami Beach |
| 3924 | 5600 | $379,900 | 2 | 1650 | $230 | 1967 | Y | $1,079 | Miami Beach |
| 3889 | One Miami | $310,000 | 1 | 846 | $366 | 2006 | Y | TBD | Miami Downtown |
| 3882 | Biscayne Plaza | $209,900 | 1 | 749 | $280 | 2005 | N | TBD | Miami Midtown |
| 3883 | Biscayne Plaza | $219,500 | 1 | 763 | $288 | 2005 | N | $455 | Miami Midtown |
| 3900 | PLATINUM | $349,900 | 2 | 1007 | $347 | 2007 | Y | $630 | Miami Midtown |
| 3908 | BLUE | $399,900 | 2 | 1174 | $341 | 2005 | Y | $861 | Miami Midtown |
| 3911 | Charter Club | $265,000 | 2 | 1218 | $218 | 1973 | Y | $672 | Miami Midtown |
| 3887 | Latitude on the River | $259,900 | 1 | 832 | $312 | 2007 | N | $589 | Miami River |
| 3914 | 360 | $389,900 | 2 | 1251 | $312 | 2007 | Y | TBD | North Bay Village |
| 3915 | BAYVIEW | $322,000 | 2 | 1253 | $257 | 2003 | Y | TBD | North Bay Village |
| 3920 | Eloquence on the Bay | $381,000 | 2 | 1505 | $253 | 2009 | Y | $1,006 | North Bay Village |
| 3921 | Eloquence on the Bay | $380,000 | 3 | 1505 | $252 | 2009 | Y | $1,006 | North Bay Village |
| 3925 | LEXI | $374,900 | 2 | 1735 | $216 | 2007 | N | TBD | North Bay Village |
| 3876 | 1390 OCEAN DR | $297,900 | 1 | 653 | $456 | 1965 | Y | TBD | South Beach |
| 3877 | Roney Palace | $247,200 | 0 | 660 | $375 | 1926 | Y | $613 | South Beach |
| 3879 | FLAMINGO SOUTH BEACH | $354,900 | 1 | 722 | $492 | 1960 | Y | TBD | South Beach |
| 3880 | Flamingo South Beach | $314,900 | 1 | 722 | $436 | 1960 | Y | $667 | South Beach |
| 3881 | Mondrian | $409,000 | 1 | 741 | $552 | 2008 | Y | $957 | South Beach |
| 3884 | MARJO | $271,500 | 2 | 798 | $340 | 1941 | N | $396 | South Beach |
| 3885 | 1045 Meridian | $227,500 | 1 | 810 | $281 | 1936 | N | TBD | South Beach |
| 3888 | Mirador | $295,000 | 1 | 837 | $352 | 1965 | Y | $445 | South Beach |
| 3890 | 1820 JAMES AVE | $206,000 | 2 | 880 | $234 | 1966 | N | $250 | South Beach |
| 3891 | Belle Plaza | $239,900 | 1 | 897 | $267 | 1962 | Y | $575 | South Beach |
| 3893 | South Bay Club | $229,500 | 1 | 920 | $249 | 1966 | Y | $541 | South Beach |
| 3894 | DANTON | $399,900 | 2 | 978 | $409 | 2003 | N | $493 | South Beach |
| 3895 | SOUTH BAY CLUB | $210,000 | 1 | 980 | $214 | 1966 | Y | $542 | South Beach |
| 3902 | SKYLARK | $364,900 | 1 | 1043 | $350 | 1954 | N | $680 | South Beach |
| 3904 | FLAMINGO SOUTH BEACH | $409,900 | 2 | 1091 | $376 | 1960 | Y | TBD | South Beach |
| 3910 | 9 ISLAND AVE | $450,500 | 2 | 1190 | $379 | 1981 | Y | $820 | South Beach |
| 3871 | Ocean Point Beach Club | $365,000 | 1 | 990 | $369 | 2000 | Y | TBD | Sunny Isles |
| 3872 | PORTO BELLAGIO | $249,000 | 2 | 907 | $275 | 2003 | Y | TBD | Sunny Isles |
| 3873 | Sole on The Beach | $490,000 | 2 | 1007 | $487 | 2007 | Y | TBD | Sunny Isles |
| 3919 | WINSTON TOWERS 700 | $203,940 | 2 | 1396 | $146 | 1980 | Y | $532 | Sunny Isles |
| 3875 | Spiaggia | $210,900 | 0 | 601 | $351 | 1965 | N | $499 | Surfside |
Miami Condos price averages bottomed in early 2009 and have risen over the last four years. The affordability of housing has increased dramatically and this has become good news for investors and vacation home buyers alike!
The quarter ending in December 2013 showed a twelve point eight (12.8%) percent average price per square foot price increase versus the quarter ending December 2012 Averages were $277.00 price per square foot last year as compared to $312.00 this year. Many of the properties that have sold have been distressed properties that were taken back by banks.
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Miami Condos Average Price per SqFt
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Miami Condos Closed Vs Pended Sales
Please note that the the sales of condos have strengthened significantly over the last thirty months with the most recent quarter ending December 2012 being a four point seven(4.7%) percent increas over the same quarter a year ago.
The Months of Inventory (Absorption Rate) has dropped dramatically from eleven (11) months to eight (8) months. This is very good news for buyers and sellers as the market has reached an equilibrium stage where there are a balanced number of buyres and seller. This usually causes the priec of real estate in a market to stabilize.
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