Friday, March 26, 2010

Miami Beach Oceanfront Condo Priced 49% Below Peak Value

This is a great time to buy real estate in Miami Beach. I have been watching price fall for awhile. You can get even bigger deals on properties that you are willing to fix up, since those are more likely to have motivated sellers. Just check to make sure the building doesn't have any problems because those are harder to fix. Remember that when you own a condo you have to pay monthly maintenance fees. The buildings with the biggest problems often have the highest fees. I would suggest holding onto the property long term since prices will be slow to go up with so many foreclosures in the future.

I've also heard prices are way down in places like Las Vegas and Phoenix.

Ralph E. De Martino CRS, GRI - Ocean International Realty - 305-695-1105 -

Ralph E. De Martino

Ocean International Realty

5151 Collins Ave., Suite 227

Miami Beach, FL 33140


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