This home on a tree-lined avenue in Coral Gables, built in 1971, was purchased in August 2007 for $1,250,000. It was foreclosed on and sold at auction for $365,100 on February 1st. The judgment on the property was for $1,172,639.82 (first mortgage plus fees). The assessed value was $455,458 at the time of the 2010 sale. The guy who owned it had a $1,000,000 first mortgage and a $187,400 second mortgage. He put $62,600 down. Not a bad price to pay for a few years in a million dollar home. This property was a steal at $365,100 in this neighborhood. The home's side yard borders on busy Le Jeune Road but still, it is over 2,000 square feet on a corner lot in Miami-Dade's most desirable City, Coral Gables.
All you people waiting to buy: I think the time is now!