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Foreclosure & Bank Owned Condos - Miami, Miami Beach

Foreclosure & Bank Owned Condos in Miami Beach & Miami, Florida

March 23rd, 2012

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 March 23rd, 2012. 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 March 23rd, 2012
MCL ID# Building Name List PriceBedsArea $/SqFt Year Water
View
Maint
Fee
City
3875 TOWER AT BISCAYNE COVE $200,000 2 1339 $149 1981 Y $398 Aventura
3876 5600 Collins $204,900 2 1190 $172 1967 Y TBD Miami Beach
3877 Arlen House $205,000 2 1357 $151 1975 Y $789 Sunny Isles
3878 AVENTURA-ELDORADO $209,900 2 1142 $184 1974 N $598 Miami
3879 DOWNTOWN DADELAND $209,900 2 1238 $170 2007 N TBD Miami
3880 Mimosa $214,900 1 790 $272 1962 Y TBD Miami Beach
3881 PARKVIEW AT BRICKELL $217,800 3 1087 $200 2007 N $498 Brickell
3882 Eloquence on the Bay $218,970 1 917 $239 2009 Y $600 North Bay Village
3883 Cite $219,900 1 715 $308 2004 N $385 Miami Midtown
3884 Uptown Marina Lofts $227,900 1 816 $279 2006 Y $534 Aventura
3885 BRICKELL ON THE RIVER $238,000 1 757 $314 2006 Y $463 Miami River
3886 Parc Central South $239,900 3 1271 $189 1990 N $567 Aventura
3887 Harbour House $244,900 0 481 $509 1964 Y $399 Bal Harbour
3888 Mystic Pointe Tower 400 $247,500 3 1694 $146 1990 Y $794 Aventura
3889 vue at brickell $248,900 2 1143 $218 2004 N $679 Brickell
3890 coral palms $249,900 2 1263 $198 1996 N TBD Brickell
3891 VENTURE $254,900 2 1174 $217 2006 N $524 Aventura
3892 UPTOWN MARINA LOFTS $272,900 2 816 $334 2006 Y $535 Aventura
3893 Colonade $284,900 2 1335 $213 2008 N TBD Dadeland
3894 ROYAL EMBASSY $289,000 2 1515 $191 1968 N TBD Miami Beach
3895 Tropicana $289,900 2 1358 $213 1983 Y TBD Sunny Isles
3896 JADE RESIDENCES AT BRICKE $294,900 1 895 $329 2004 N TBD Brickell
3897 Mystic pointe $299,000 2 1365 $219 1989 Y $599 Aventura
3898 CARLISLE ON THE OCEAN $299,500 1 905 $331 1965 Y TBD Surfside
3899 BRICKELL PLACE PHASE II $299,900 2 1583 $189 1980 Y TBD Brickell
3900 Marina Blue $305,900 1 843 $363 2008 N $468 Miami Downtown
3901 Sunset lofts $313,500 1 965 $325 2004 N $456 Miami Beach
3902 Mondrian South Beach $319,000 1 756 $422 2008 Y TBD South Beach
3903 Eloquence on the Bay $335,000 2 1210 $277 2009 Y $700 North Bay Village
3904 ONE MIAMI $339,900 2 1227 $277 2005 Y TBD Miami
3905 1000 WILLIAMS ISLAND $350,060 3 1900 $184 1990 Y $1,499 Aventura
3906 Alaqua Aventura $359,900 3 1579 $228 2007 Y $840 Aventura
3907 Alexander $360,000 2 960 $375 1962 Y $820 Miami Beach
3908 BRICKELL ON THE RIVER $374,900 2 1110 $338 2006 Y $686 Miami River
3909 FLORIDIAN $379,900 2 1078 $352 1997 Y $887 Miami Beach
3910 Eloquence on the Bay $380,000 3 1505 $252 2009 Y $1,006 North Bay Village
3911 Eloquence on the Bay $389,000 3 1505 $258 2009 Y $1,006 North Bay Village
3912 LANDMARK $425,000 2 2000 $213 1990 N TBD Aventura
3913 Seaside Villas $425,000 1 710 $599 1988 Y $1,256 Fisher Island
3914 Harbour House $449,900 2 1056 $426 1964 Y $871 Bal Harbour
3915 Lofts at South Beach $469,999 2 1583 $297 2004 Y $795 Miami Beach
3916 50 Biscayne $474,900 2 1357 $350 2007 Y $808 Miami Downtown
3917 Solimar $475,000 2 1740 $273 2002 Y $937 Surfside
3918 MEI $534,000 1 866 $617 2008 Y $902 Miami Beach
3919 Floridian $575,000 3 1345 $428 1997 Y $925 Miami Beach
3920 NEW HARBOUR HOUSE $624,900 2 1153 $542 2005 Y $824 Bal Harbour
3921 Bayside $695,000 2 1847 $376 1988 Y $1,569 Fisher Island
3922 Eloquence on the Bay $775,000 4 2545 $305 2009 Y $1,797 North Bay Village
3923 HAMPTONS SOUTH $784,900 2 2980 $263 2004 Y $1,319 Aventura
3924 Eloquence on the Bay $1,300,000 4 2851 $456 2009 Y $2,500 North Bay Village
3925 TURNBERRY ISLE $1,699,000 5 7169 $237 1979 Y $3,745 Miami
3926 ONE ISLAND PLACE $1,900,000 5 7340 $259 1992 Y $3,058 Aventura
3927 JADE RESIDENCES $1,997,900 4 3415 $585 2004 Y $2,550 Brickell

Miami Condos price averages bottomed in early 2009 and have risen over the last two 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 2011 showed a twelve point eight (12.8%) percent avergae price per square foot price increase versus the quarter ending December 2010 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.

Miami Single Family Homes Average Price per SqFt

Miami Condos Average Price per SqFt

Miami Single Family Homes Average Price per SqFt

Miami Condos Closed Vs Pended Sales

Please note that the the sales of condos have strengthened significantly over the last eighteen months with the most recent quarter ending December 2011 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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