On August 1st, South Florida bargain hunters bought 154 foreclosed Miami real estate properties totaling $9.3 million at an auction in the Miami Beach Convention Center. That averages out to $60,390 per property.
The auction company, REDC, said that one home in Fort Lauderdale sold for $20,000. That was 91 percent less than its previous high value. And in Delray a home sold for $99,750, which was 51 percent off its highest value.
REDC said the day before the Miami real estate auction, buyers in Orlando paid over $10.1 million for 139 properties averaging $72,662 per property and an industry high for this year.
REDC is set to sell more than 1,500 foreclosures during an eight-city tour through Florida. Auctions in Melbourne, Ocala and Sarasota are just a few of the cities on the schedule.
You may contact MLR Realty at 305-673-3303 for more information on foreclosures in the Miami Dade or to speak with a real estate agent regarding other Miami real estate properties for sale or for lease.
Contributed by Miami Luxury Villas
