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Old 11-19-2008, 09:30 AM
 
Location: Heartland Florida
9,324 posts, read 26,747,624 times
Reputation: 5038

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This is a message for would-be investors. Beware of "foreclosures" in Miami-Dade county. One is "for sale" by one of those foreclosure outfits. The asking price of over 200K seems even higher when you realize that a friend bought a home next door for a whopping 89K. And this is in the city of Homestead, the toilet of south Dade. Are these people nuts? Put down the crack pipe and take a good, hard look at how overvalued Miami-Dade county is. The number one employer, government is even cutting back. Welcome to the future Detroit where you can purchase a home for just a few thousand dollars.
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Old 11-19-2008, 12:11 PM
 
Location: Broward County
2,517 posts, read 11,051,442 times
Reputation: 1391
yes...prices continue to drop DRASTICALLY. I suggest everyone to hold off on buying that home.....we have not hit bottom and things are going to get dirt cheap due to the economy and job markets. If you do make an offer...make it for 50K less than the asking...that is what I am going to do this weekend !
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Old 11-19-2008, 12:34 PM
 
670 posts, read 1,743,050 times
Reputation: 270
Good post Tallrick.
Still, if any are greedy enough to buy a "foreclosure" in Homestead in this market, they deserve everything they get.
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