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Pricey Foreclosures Wash Up on the Beach

By Frank Houston in News

Wednesday, Aug. 1 2007 @ 5:54AM

Yours for a song

Looking to scoop up some prime Miami Beach real estate? This could be your year. Nine properties valued at a million dollars or more have gone into foreclosure on the Beach since the beginning of 2007.

According to research compiled by Condo Vultures, these include a prime, vacant 10,500 square foot waterfront lot on Hibiscus Island ($3 million) as well as several condos that haven’t even been completed, including one at Aqua at Allison Island ($2.6 million). More than 50 Miami Beach properties in foreclosure are worth $500,000 or more.

Donald Trump’s buildings in Sunny Isles Beach, the highest foreclosure zip code in Florida, also made the pricey foreclosures list: unit 1904 in Trump Palace ($876,000) and units 902 and 1805 in the Trump International Sonesta Beach Resort ($300,000 and $488,000 respectively). --Frank Houston

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5 comment(s) / Post a Comment

kthor says:

I think Florida Foreclosures will only get worst ... hope state does something soon to help foreclosed homeowners

Posted On: Thursday, Aug. 2 2007 @ 1:27AM

Rudy says:

Sure, kthor, the state should 'do something' for those people. Never mind that those people made bad decisions on their own and in the real world should 'maybe' take responsibility--it 'must' be someone's else's fault, right??

And those of us who had a clue about this idiocy should just send some money their (your) way in the form of government handouts?

Mmmkay, let's get right on that...

Well, you can be comfortable knowing that many other people believe in the mommy-government idea, too.

Posted On: Thursday, Aug. 2 2007 @ 2:04PM

Consumer Mortgage Reports says:

This post is just an example of the problematic mortgages or maybe borrower that thought they could afford a house with a bad mortgage or over leveraged.

Posted On: Friday, Aug. 3 2007 @ 12:00AM

Condo Fiasco says:

Hey Rudy, don't take kthor's comments too seriously. His comment about 'foreclosures in florida' was just a cheap way to promote his website. He would have said anything.

I put $70k on a condo in Miami and will lose it all unless a miracle happens. I would never expect the government to intervene and I don't think any reasonable person would either. That's what makes America great.

Posted On: Friday, Aug. 3 2007 @ 8:34AM

Doug says:

Dear Condo Fiasco,

Please contact me about your condo.

Just ask for the "vulture group".

When there is blood in the streets,
BUY REAL ESTATE.

305 759 9293

Doug

Posted On: Sunday, Sep. 2 2007 @ 7:02PM