February 7th, 2010
Bank owned properties are often the best opportunity to purchase Miami bank owned single family homes, which are sometimes referred to as foreclosure, Real Estate Owned or REO.
The quarterly average price per square foot has dropped dramatically over the last fifteen months. We have compared the first three months( 10/2008 -12/2008) average of $161.00 to the last three months (10/2009 – 12/2009) average of $150.00 for a drop of over 6%. Many of the properties that have sold have been foreclosures that were taken back by banks. However, the real long term story is the rise in prices from the second quarter of 2009 (average $134) to the fourth quarter of 2009 ( average $150). The affordability of housing has increased dramatically and this has become good news for investors and first time single family homes buyers alike!
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Miami Single Family Homes Average Price per SqFt
Here is a list of available Miami bank owned homes for investment as of February 7, 2010 Please note that they are in order by zip code and city and their availability is subject to change without notice.
There are now one hundred and sixty-four (164) homes on the list. We are starting to see multiple offers on these; so please move quickly if you would like to purchase one.
To see a complete list visit Miami Investment Homes
