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