Thousands of Miami Condos Under $50K?

The housing market is slowly making progress in some parts of the United States, but this does not hold true for Miami, FL. CondoVultures.com, a regional condominium publication claims that there are over 6K condos in the area under $50K! That’s incredible. Just 5 years ago, Miami saw one of the biggest real estate booms in the nation. That bubble unfortunately popped when the recession hit and hasn’t rebounded since.

It’s nice to know that for the price of an average SUV, one would be able to own a decent condo in Miami, FL. Some skeptics think these prices are too good to be true and thus there must be some sort of catch. There are always those high HOA fees that tend to get overlooked during the purchasing process.

Taxes and certain housing disclaimers may creep up on potential buyers as well, just make sure to thoroughly consult your real estate agent about any variables.

Although places like Miami, Las Vegas and Sacramento have some of the lowest housing prices in the nation, those interested in relocating should do their research. The job market in many of these cities is suffering and opportunities are often scarce. Before making the big investment make sure to research potential jobs, standard of living costs and other factors that may directly affect your situation.