Bank Auctions, Miami Beach Real Estate

Florida Bank Auctions- Homes at fire-sale prices

Two hundred homes went up for auction Saturday in Ft Lauderdale by banks tired of paying taxes and upkeep on foreclosed homes; yet another sign of desperation in the South Florida housing market.

Flipping through the auctioneer's guidebook you could see a ranging of Florida homes from the most modest one-bedroom efficiency condos to five-bedroom houses worth close to a million dollar.

Example:

• A three-bedroom, two-bath home in Wilton Manors sold for $161,000. The asking price during an open house last week was $229,000.

• $177,500 for a three-bedroom house in Miami Shores that sold for $460,000 two years ago went for

• A two-bedroom house in Coral Gables that sold for $670,000 in September of 2005 fetched a bid of $300,000. The buyer declined to give his name, but said he plans to rent it out.

Full article...Bank Auctions, Miami Beach Real Estate