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Old 01-30-2020, 06:07 PM
 
6,772 posts, read 4,515,450 times
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Quote:
Originally Posted by rnc2mbfl View Post
In Miami Beach, there is a surprising number of options in this price range, and there's a collection of amenities that usually drive price in the city. They are 1) secured and covered parking 2) washer/dryer in unit 3) Pool 4) front desk/concierge 5) water view 6) gym 7) age/renovation. 8) outdoor space 9) waterfront. The fewer of these you have, the cheaper the price.

Example 1. This looks like a condo that was owned by the same old lady since it was built in 1974, and it was likely never renovated. My guess is it's an estate sale. It's God awful ugly, but almost to the point of being cool. It needs major overhaul but it does look like it has the covered parking.
https://www.zillow.com/homedetails/1...43900529_zpid/

Example 2. This condo has both covered and secured parking and a pool. It also looks like it's been piecemeal updated since it was built in 1972. No water view, but 8th floor gives you a west side city view including the top of Herzog & de Meuron's famous 1111 building.
https://www.zillow.com/homedetails/1...43900398_zpid/

Example 3. This condo ticks most of the boxes, including a slim and distant water view. It's just missing a front desk/concierge, and the building isn't waterfront. It's also smaller than the previous options, and could use some renovation.
https://www.zillow.com/homedetails/1...4027256_zpid/?

Example 4: Bland and boring condo in an enormous complex with killer amenities that tick the boxes. The in-unit laundry is one of those all-in-one units that takes hours for one load (no thank you), and there isn't any outdoor space. The oblique view is fantastic but you have to be at the window to see it. Otherwise, you look into another part of the undulating building.
https://www.zillow.com/homedetails/1...2574392_zpid/?

Needless to say, 300K in Miami Beach is ALWAYS going to be a condo or co-op. You won't get a SFH for anywhere near that price. Also, it's a buyer's market right now and the prices are often much lower than a few years ago. I've been in Miami Beach for nearly 20 years and I've never seen a market that yo-yo'd as much as here.
Very interesting. Good post!
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Old 01-31-2020, 08:32 PM
 
Location: OC
12,830 posts, read 9,552,972 times
Reputation: 10620
Quote:
Originally Posted by Hemlock140 View Post
A quick check of the major real estate sites shows the cheapest home in our city currently at $739,000, that one being only 1,500 sf, 3BR 2 BA, 4,500 sf lot and is pre-foreclosure. The cheapest condo is at $415,000.
that can't be possible.
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