|
08-06-2008, 04:46 PM
|
|
561 Goon For Life
|
|
Join Date: Mar 2007
Location: West Palm Beach, FL
1,768 posts, read 2,093,352 times
Reputation: 300
|
|
Anyone know why these houses in Homestead run so cheap?
I was recently in Homestead near SW 312th St. While there I noticed some newer constructed homes in a mostly older area. It wasn't a whole sub-division, it was only one street. Some of the surrounding area looked a little rough but one street looked newer than anything around it. I finally found the block online (NE 3rd Ave.) and checked out the going prices for real estate. I stumbled upon one of the sales and the home went for a paltry $115,000! Here is the page:
1035 Ne 3rd Avenue, Homestead FL 33030 - Trulia
Granted, the homes are kinda small and are not in the most desirable area. Even so, they're cheaper than the classic style housing around them! Anyone know why the going rate is so cheap on them? |
|
08-06-2008, 05:39 PM
|
|
Senior Member
|
|
Join Date: Feb 2008
Location: fort lauderdale, fl
148 posts, read 126,621 times
Reputation: 65
|
|
|
Its all economics. Median family income is like $25,000 I think, 32 percent is below poverty, the job market is poor, slow population growth, etc. etc.
Give it like 10-15 years. Someone's going to start some kind of major redevelopment project down there. (If they haven't already)
|
|
08-06-2008, 05:42 PM
|
|
Moderator
Status:
"Merry Christmas"
(set 4 days ago)
|
|
Join Date: Jan 2007
3,401 posts, read 2,951,547 times
Reputation: 829
|
|
|
You said it. That area right around there is a little dirty and rough to say the least. So that is probably part of it, could also been a short sale or foreclosure. I would put my money on the area however.
|
|
08-06-2008, 05:50 PM
|
|
Senior Member
|
|
Join Date: Mar 2008
Location: Somewhere in South Florida
121 posts, read 157,410 times
Reputation: 34
|
|
Quote:
Originally Posted by doggiebus
You said it. That area right around there is a little dirty and rough to say the least. So that is probably part of it, could also been a short sale or foreclosure. I would put my money on the area however.
|
Exactly!
That home is located in a not so good area of Homestead, maybe ( but I don't know ) is a crime infested area...the only neighborhood in Homestead that is fine is the Keys Gate neighborhood...the rest is not good ( bad mostly ), especially the area bordering Florida City. |
|
08-06-2008, 07:07 PM
|
|
Member
|
|
Join Date: Aug 2006
54 posts, read 84,289 times
Reputation: 23
|
|
|
I'm wondering if the buyers need to be income-eligible for those homes, thus the relatively low price. I think they were built as a community redevelopment project.
|
|
08-06-2008, 07:29 PM
|
|
561 Goon For Life
|
|
Join Date: Mar 2007
Location: West Palm Beach, FL
1,768 posts, read 2,093,352 times
Reputation: 300
|
|
|
Interesting thoughts.
In Homestead you will find new construction in the most random areas. Some of the roughest areas have gated communities in the middle of them.
|
|
08-06-2008, 07:56 PM
|
|
Senior Member
|
|
Join Date: Aug 2007
Location: Hialeah, FL
483 posts, read 408,630 times
Reputation: 99
|
|
|
Probaly a Habitat for Humanity type of place like those communities all over Liberty City and Overtown which are actually nice picturesque suburban colorful homes for the poor in the middle of the polar opposite crime infested neighborhood.
|
|
08-06-2008, 10:14 PM
|
|
Waiting to pick up the pieces from the crash
|
|
Join Date: Oct 2006
Location: Key Largo
6,272 posts, read 5,483,548 times
Reputation: 2056
|
|
|
Who wants to live in the boondocks in homestead with no room to show for it? Homes packed in close are tomorrow's slums. The more spacious areas hold their value and are a lot more appealing. Ever heard of the "redlands"? Get the acreage and you have an increased standard of living.
|
|
08-07-2008, 12:23 PM
|
|
Senior Member
|
|
Join Date: Aug 2007
Location: hialeah, florida
387 posts, read 548,012 times
Reputation: 65
|
|
|
there are a lot of these homes down in homestead and as you said, it's not uncommon to think you're in the bottom and then you find those type of homes. i regularly see them being advertised on TV with rents as low as $500.
|
|
08-07-2008, 01:27 PM
|
|
Senior Member
|
|
Join Date: Jul 2007
866 posts, read 669,345 times
Reputation: 250
|
|
|
This house you pointed to is sold. I guess you weren't the only one who thought it was cheap.
|
Please register to post and access all features of our very popular forum. It is free and quick.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
|
|
Welcome to City-Data.com forum! Make sure to register - it's free and very quick! You have to register before you can post and participate in our discussions with 700,000 other registered members. User profiles and some forums can only be seen by registered members. After you create your free account you will be able to customize many options, you will have the full access to over 15,000 posts/day about local topics and you will see fewer ads. 
Linear Mode
