ForeclosureDeals offers a solid database of Miami bank owned foreclosure homes and Miami government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Miami repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Miami, FL. Our up-to-date real estate foreclosure listings in Miami offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Miami area.
The real estate market in Miami, FL. holds a unique position in comparison to the rest of the U.S. As a major destination city, Miami offers waterfront condos in Coral Gables, apartments and houses in Key Biscayne that provides perfect opportunities for investing. A cornucopia of cultures; Miami is at the center of a multi-cultural revolution; boasting a massive event area, tremendously diverse fresh marketplace and a talented performing arts center, just to name a few of the attractions that draw potential investors to the stunning properties that are available in the area. Miami also features world-class beaches, exotic nightlife and stunningly balanced amounts of condos and single-family homes for sale, often at cheap prices through foreclosures. Take advantage of these opportunities and start searching for foreclosed homes for sale in Miami, FL now!
America is filled with real estate opportunities galore. Throughout the country, hundreds of thousands of prime real estate properties are there for the taking - from single-family homes to multi-family buildings and commercial properties. Plus, with the housing market collapse of 2007, prices have plummeted - making today the ideal time to buy.
Miami, Florida - the "Gateway of the Americas" - is no exception. The cultural, economic, and social capital of South Florida is a crown jewel city located conveniently along the Atlantic Coast, near Puerto Rico, the Bahamas, and other popular island destinations in the Caribbean. It also is home to a vibrant night life and a rich cultural heritage that make the city one of the most sought-after tourist destinations in the country.
For real estate investors, Miami is also loaded with opportunity. With the nation's eighth-highest foreclosure rate among metropolitan areas, Miami has more than its fair share of cheap foreclosure listings - properties that have been seriously devalued thanks to falling home prices and the inability of thousands to pay their mortgages.
As a result, Miami is a central destination for real estate potential for interested investors.
Investors want cheap, affordable properties, but they also want properties that have upside potential and future value. The best way to take advantage of this is to look for areas in a city that are in high-demand by residents.
Highly-desired areas in Miami are denoted by:
According to these criteria, some of the most sought-after areas for Miami include Aventura, Bal Harbor, Coral Way and Coral Gables, Key Biscayne, Kendall, Miami Shores, and South Beach. There are plenty of other neighborhoods that are in demand, though, according to individual preferences.
Three of the best shopping areas in the city are located in Aventura, Coral Gables, and South Beach. South Beach is also home to the entertainment district of Miami and is close to the downtown area. Investment in this or any of the above areas is recommended for investors looking for the best real estate deals in the metro area.
Miami has a metro area population of 5.5 million people, which has been steady growing at an average rate of 21,000 per year over the last decade. Nearly 14% of homes in the area are vacant, and roughly one out of every 277 housing units in the metro area received a foreclosure filing as of December 2011. Average foreclosures in the city sell for roughly $143,500.
When investing in Miami foreclosures, be mindful of the foreclosure process that Florida follows. Unlike many other states that have a non-judicial foreclosure process, Florida follows judicial foreclosure laws. This means foreclosures are processed through the legal system. Each foreclosure listing in Miami came onto the market through the courts, so there is a time delay between a homeowner defaulting on his or her payments and the foreclosure reaching the open market. This still makes Miami a prime spot for foreclosure investing, but the savvy investor should keep the above in mind.