Posts Tagged ‘brickell foreclosures’
Tuesday, May 31st, 2011
It has been quite a challenge to win a bid on a foreclosure property in the Brickell / Downtown area lately so I tell my clients assume the asking price is your starting price. This three bedroom unit just listed at One Miami Condominium in Downtown Miami will be one of those multiple bidding scenarios for sure. Why does this happen you wonder? Well it’s simple, it all comes down to demand vs inventory. Although there are numerous condos for sale in the area most of then are either short sales or priced much higher than what one would consider competitive. Buying a foreclosure means you are getting the best price in the market and closing on your property within a more or less normal time frame. So as I tell my clients, if you like it grab it, if you think about it for too long it will be gone and those that thought I was kidding later on came back to regret loosing it.
ONE MIAMI FORECLOSURE SEE DETAILS
http://sef.mlxchange.com/Pub/EmailView.asp?r=1075026725&s=SEF&t=SEF
MORE FORECLOSURES
http://brickellcondoconnection.com/foreclosures/
MARKET SNAPSHOT (in case you don’t believe the numbers) get it here
http://brickellcondoconnection.com/
Tags: bank owned condos, brickell foreclosures, buy Brickell, Condos at One Miami, downtown condos, downtown miami, one miami, One Miami buy now, One Miami Condos, One Miami foreclosure units
Posted in Bank Owned condos, Best places to buy real estate, Condo Deals, Downtown Condos, Downtown Luxury condos, Foreclosures, Time to Buy | No Comments »
Thursday, April 14th, 2011
Lately I have come across a number of frustrated Real Estate professionals that don’t understand what is going on with foreclosure transactions. If you are a Realtor and work the Brickell or Downtown market and have investor clients that bid on foreclosures you know what I am talking about. I would say in the last six months I have seen a decrease in the amount of foreclosure listings that come into the market in these 2 areas and for this reason they have become a very hot commodity. Having said this it is not uncommon that when a property is listed the price stipulated is usually a low price in order to entice a multiple offer situation with buyers. Knowing this, many Realtors like myself advise our clients that offers should in fact be above asking price if they want to have a shot at getting the property, some clients don’t believe this and still try to low-ball a foreclosure with no success. I believe in educating my clients and providing the proof of past sales to avoid wasting my time with low offers, surprisingly enough even on offers were the price was almost 20% above asking price and seemed like a sure thing…….a couple of days later we are advised that another offers was accepted.
I have so many questions regarding the process of submission of offers, the banks criteria in choosing the best offer and even the owner of the note……..how can a financed offer beat a full cash offer that will close in 10 days??? Questions…..and more questions….I don’t think I will get an answer to my questions any time soon but I really think this is something that should be looked at…………..Meanwhile my investors keep trying with hopes of getting lucky at some point with a foreclosure!
Tags: bank owned condos, bank owned properties in mimai, brickell condos, brickell deals, brickell foreclosures, brickell key condos, downtown foreclosure sales, foreclosure in brickell, foreclosure list, foreclosure listings, foreclosure sales, Foreclosures, highest and best, highest and best offer, loosing a foreclosure, miami condos, multiple offers, reo, The Club foreclosure
Posted in Bank Owned condos, Best places to buy real estate, Brickell Condos, Brickell Condos Sale, Condo Deals, Foreclosures, Miami Real Estate | No Comments »
Tuesday, March 29th, 2011
In the past couple of months the condo sales activity has been everything but slow in Brickell. Condos priced at market or just below are going under contract in days a tremendous change from just month’s back. It seems that Investors have flooded the market in an effort to grab the deals before they are gone and prices start to stabilize. With short-sale’s taking up a large portion of the condos for sale in Brickell and Foreclosures or REO’s become more scarce buyers are now more willing to wait out for the Short-sales to be approved knowing this is the next best thing when it comes to grabbing a condo in Brickell at an amazing price.
If you are looking for a foreclosure deal keep in mind that the list price will usually be your starting point , specially in Brickell, the competition is fierce and Investors are ready to make cash offers many times above list price. If bank has priced the foreclosure property way below market the intention is to get multiple buyers interested and create a situation were multiple offers are submitted thereby driving the price up to were it should be. There are still opportunities out there it’s just a matter of looking for them….the question is how long will it last?
Tags: bank owned condos, best time to buy, brickell condo deals, brickell condos, brickell deals, brickell foreclosures, buy brickell condos, buy condos, Foreclosures in Brickell, great prices in brickell, reo, short sale properties, Time to buy
Posted in Bank Owned condos, Best places to buy real estate, Best places to live, Biscayne Corridor, Brickell Condos, Brickell Condos Sale, Brickell Lofts, Buyers, Condo Deals, Developer closeout Brickell, Downtown best places, Downtown Condos, Foreclosures, Home Buyers, Miami Real Estate, Time to Buy | No Comments »
Tuesday, February 8th, 2011
Back on the market is a 3 Bedroom foreclosure condo in The Club @ Brickell. Bank is asking $259k and maintenance fees are about $700+ per month. Not a bad price if you are looking for that third bedroom which are hard to come by at this price in Brickell. The Club was one of the buildings that suffered the most when foreclosures started to hit the market a couple of years ago, now many of the units have been sold to cash buyers which will make this building a solid one when all is said and done. This unit is a great buy for an investor looking to hold it for a while and rent it out or for anyone looking for the extra space. Building is located right off 12th st and Brickell Bay Drive. Walking distance to Mary Brickell Village and the Brickell Business District.
Tags: Brickell, Brickell avenue condo, brickell foreclosures, buy Brickell, Condo Foreclosures in Brickell, great deals in brickell, investors best buys, The club condo, The Club foreclosure
Posted in Uncategorized | No Comments »
Sunday, November 21st, 2010
Often I come across buyers that assume that just because there are foreclosures and short-sale condos priced in the $60k’s and $80k’s in the Southern part of Miami they will find the same thing in Brickell. Well there is nothing further from the truth, people that are not familiar with the area tend not to understand and feel that maybe their realtor may not be showing them all that is out there. First of all Brickell is considered a prime location with luxury high-rise condominiums. Downtown Miami has also become a very sought after neighborhood and price per square foot will not compare with properties located further south. Yes you can find foreclosure properties in Brickell and Downtown but the odds are they will have multiple buyers bidding on them and will sell for a price higher than the one listed for by the bank. Yes it is true that many of these condominiums are not easily financed by banks so a buyer will assume that sales will be minimal and thus developers will need give these units away in order to sell them…..however this is not necessarily the case either. The fact is that more than 60% of today’s buyers in Brickell and Downtown are foreigners coming in with cash and taking advantage of the reduced prices by Developers. These buyers are thinking long term with their investments. A clear example are the Marquis Residences in Downtown Miami where sales have soared in the past three months with prices above $300 sq. ft.
It’s simple, real estate is about location and although the Real Estate market in Miami has been hit hard Brickell and Downtown will always be prime locations with luxury properties that many buyers will be attracted to. Real Estate prices in these areas will never compare to price drops in areas like Kendall, Homestead, Hialeah, North Miami and other neighborhoods that are further in distance from Miami’s main attractions & hot spots.
So the next time you ask a Brickell Realtor about the Brickell & Downtown market, don’t be surprised to hear that sales are going strong and buildings are filling up faster than expected.
Tags: brickell buyers, brickell foreclosures, brickell market, brickell sales, buyers buying in brickell, buyers comments, downtown condos, downtown miami market, downtown sales, miami condos, miami condos for sale
Posted in Brickell Condos, Brickell Condos Sale, Brickell Rentals, Condo Deals, Downtown best places, Downtown Condos, Downtown Luxury condos, Hot Brickell Rentals, Hot Brickell Rentals, Uncategorized | No Comments »
Sunday, September 12th, 2010
Hot FORECLOSURES ******* @ BRICKELL 2 bedrooms under $300K
Like every morning after breakfast I sit down to see what is new in the market, what has gone up or down and if by chance any new foreclosures have come out in Brickell. Last year it was so much easier to find foreclosures. Possible sellers today are exploring their options and trying to do loan modification or short-sales before just giving up and letting the properties be taken over by the banks, so in turn the foreclosure market has diminished quite a bit…..at least in the Brickell, Coconut Grove and Gables area. It was a good time for Realtors when investors were picking and choosing foreclosures and making the quick buys…..today everybody is fighting and bidding wars are taking place whenever a good condo goes into foreclosure. So having said this here are my picks under $300k for the week, if you think this is what you have been waiting for call me and lets go see it before it’s gone…..I know I sound like a commercial but if you look at the last 6 months sales history for foreclosures most sell in the first 30 days -specially in Brickell.
Click on the below link to see pictures and the details of each property.
http://sef.mlxchange.com/Pub/EmailView.asp?r=692761962&s=SEF&t=SEF
Tags: 2 bed condo, bank owned condos, brickell condos, brickell foreclosures, brickell key condos, brickell key foreclosures, Foreclosures, the courts in brickell
Posted in Bank Owned condos, Brickell Condos, Brickell Condos Sale, Condo Deals, Foreclosures | No Comments »
Brickell & Downtown Condos Sales are going strong…believe it or not!
Sunday, November 21st, 2010Often I come across buyers that assume that just because there are foreclosures and short-sale condos priced in the $60k’s and $80k’s in the Southern part of Miami they will find the same thing in Brickell. Well there is nothing further from the truth, people that are not familiar with the area tend not to understand and feel that maybe their realtor may not be showing them all that is out there. First of all Brickell is considered a prime location with luxury high-rise condominiums. Downtown Miami has also become a very sought after neighborhood and price per square foot will not compare with properties located further south. Yes you can find foreclosure properties in Brickell and Downtown but the odds are they will have multiple buyers bidding on them and will sell for a price higher than the one listed for by the bank. Yes it is true that many of these condominiums are not easily financed by banks so a buyer will assume that sales will be minimal and thus developers will need give these units away in order to sell them…..however this is not necessarily the case either. The fact is that more than 60% of today’s buyers in Brickell and Downtown are foreigners coming in with cash and taking advantage of the reduced prices by Developers. These buyers are thinking long term with their investments. A clear example are the Marquis Residences in Downtown Miami where sales have soared in the past three months with prices above $300 sq. ft.
It’s simple, real estate is about location and although the Real Estate market in Miami has been hit hard Brickell and Downtown will always be prime locations with luxury properties that many buyers will be attracted to. Real Estate prices in these areas will never compare to price drops in areas like Kendall, Homestead, Hialeah, North Miami and other neighborhoods that are further in distance from Miami’s main attractions & hot spots.
So the next time you ask a Brickell Realtor about the Brickell & Downtown market, don’t be surprised to hear that sales are going strong and buildings are filling up faster than expected.
Tags: brickell buyers, brickell foreclosures, brickell market, brickell sales, buyers buying in brickell, buyers comments, downtown condos, downtown miami market, downtown sales, miami condos, miami condos for sale
Posted in Brickell Condos, Brickell Condos Sale, Brickell Rentals, Condo Deals, Downtown best places, Downtown Condos, Downtown Luxury condos, Hot Brickell Rentals, Hot Brickell Rentals, Uncategorized | No Comments »