The vast majority of the REAL buyers that we are working with today are looking to purchase deeply discounted single family homes in prime locations on Miami Beach. These types of homes are in limited supply, as most of the island communities in Miami Beach have a very finite supply of non-waterfront homes that are in good condition. The most desired communities consist of Palm, Star, Hibiscus, The Venetian Islands chain, North Bay Road area, LakeView in Miami Beach, the La Gorce Golf Course area, and Pinetree Drive area homes.
In the past two weeks, we've been working with offers for non-waterfront homes that fit into the above mentioned category. One of our clients just missed out on a well priced sale, just off of the La Gorce Golf course community in Miami Beach. Details of this latest sale:
Address:5601 North Bay Road, Miami Beach, FL 33140
Comments:This home is located on a corner lot in the upper North Bay Road area of Miami Beach. Completely turnkey with stone flooring, three bedrooms, circular driveway, beautifully landscaped property, two car garage, and hurricane shutters throughout. The house even has a bose sound system and an insect protection system! The buyers can move in, with no additional investment required.
Sold Price: $975,000
Original “For Sale” Price: $1,595,000 (1/2008)
Bedrooms: 3
Bathrooms: 3
House S.F.: 2,648
Land S.F.: 7,850
Sold Date: November 5, 2009
Discount from Original Asking Price: 39%
Noteworthy: The correct (and reasonable) asking price of $1,295,000 was changed on September 10, 2009, and the house went under contract via cooperating broker on September 30, 2009. Once again, the key take away is for sellers to price their homes accurately in order to get a qualified buyer and sell!
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