What's the State of Miami Beach Bank Owned (REO) Condos?

South Beach at Night!~Miami Beach Bank Owned Condos are selling FAST.

Get ready for a ‘multiple offer addendum’ from the bank to accompany your offer and if you aren’t paying cash, look for a short sale deal instead. Still at less than 2% of our inventory, Miami Beach bank owned are highly desirable and are reflecting a high ROI for cash investors of up to 5% (yearly lease rates) as I’ve seen this month on a 2 day sale at Bayview Lofts in Miami Beach.

Here are local area REO stats:

  • 3,495 ‘Total’ Miami Beach Condos for Sale
  • 62 Miami Beach Bank Owned (2%)
  • 28 Sold in the Last 30 Days
  • 93 Sold in the Last 90 Days
  • 291 Sales in 2009
  • Average Days On Market 69
  • Average Sale Price per Square Foot $182 (Last 90 Days $176)
  • Average List Price Per Square Foot $185 (Last 90 Days $171)
  • Sale to list Price Ratio at 99% (Last 90 Days 103%)

Best Bank Owned Condos of Miami Beach FL: Miami Beach REOs

Best Bank Owned Condos of Bal Harbour, SIB & Aventura: Sunny Isles REOs

3 thoughts on “What's the State of Miami Beach Bank Owned (REO) Condos?

  1. Yes sure is a better selection. I must refer you to TonyHammer.com for the Broward County REO’s. He’s a Hammer when it comes to luxury real estate and REO’s! As for Sunny Isles Beach, Bal Harbour & Aventura.. new link above!

    Trump Palace 906 is a solid buy around $375k!