Foreclosed Homes For Sale in Miami-Dade: Are They Bargains? By Geniusofdespair

I found a 4/2 home advertised on SW 134 Place, owned by Bank of New York Trust for sale for $224,900. It last sold in May 2006 for $399,000. $174,100 drop.

Another 4/2, located on SW 156 Avenue and owned by US Bank National Association Trust, last sold July 2004 for $256,400. It is now for sale for $210,000. $46,400 reduction.

This foreclosure is so new, the property appraiser records haven’t caught up to it. The 3/2 home is on SW 155 Ct. sold for $345,000 in March 2005 and is now advertised at $249,900 but they suggest in the ad that you make an offer. $95,100 off (see photo).

In Miami Lakes (google earth calls it Hialeah - not as exclusive an area) on NW 163rd Terrace, we have an unnamed Bank owned property that sold for $468,000 in October 2006. It is now advertised for $269,900. Down $198,100 (see photo).

Finally we have a US Bank National Association Trust owned 3/2 which sold for $235,000 in September 2005 is advertised at $81,900. $153,100 off.

I also found a short sale town home on NW 110 Avenue that sold for $374,000 in May 2006 (when it was built), now advertised for $249,999. Down $124,000.

Remember these are all advertised prices not selling prices.