Comments for Miami Condo Fiasco

Comment on On local news last night by HOUSINGFEAR

HOUSINGFEAR — Sat, 05 Jun 2010 22:49:27 +0000

If you look at miami condo investments blog they are reporting that 1 bedrooms in condo on brickell is now selling as low as 165,000.

I told you that walking away was the right choice. I hope you feel better about your choice because you only lost 80,000 as opposed to being 300,000 under water.

Comment on About Me by eric

eric — Sun, 06 Sep 2009 22:47:30 +0000

LOL, the last comment blames Obama for this guy for losing his deposit trying to flip a Miami nearly two years ago.

Comment on On local news last night by Vince

Vince — Tue, 23 Jun 2009 23:31:38 +0000

Your condo just isn’t worth what you paid. That is the bottom line. There is not the income levels to support so much real-estate at the current prices. The New York Times reported that there are 19 million vacant houses, condos and apartments while there are only 6 million listed. You over paid, there is an oversupply and you are hanging on tooth and nail, but it is inevitable that you will lose. “A Gloomy Outlook for Home Sales’ Big Season” in the New York Times. Published: March 6, 2009

Comment on A very successful failure by condocorrection

condocorrection — Thu, 11 Jun 2009 18:34:28 +0000

“no…we’re not allowed to do that”. I asked why. The answer was that the other units wouldn’t appraise.

Can’t imagine why she’d say “they” weren’t allowed to sell your condo for whatever you wanted to sell it for. The losses would be yours. Sounds like you could sue, unless your contract specifically states you not able to sell for less than X amount for whatever reason.

If that agent won’t legally list it, you should immediately get one that will if you feel it’s in your best interest.

Comment on Terms In Plain English by condodetective

condodetective — Thu, 26 Mar 2009 03:15:32 +0000

give us an update! did you move to argentina?

Comment on About Me by Mike Jones

Mike Jones — Wed, 07 Jan 2009 00:23:28 +0000

Don’t walk away from that Condo, you need to run. Obama is promising “Change”. That’s exactly what you are going to get. Everyone will have change, change in your pockets.

Comment on Condo Vultures by Dragana

Dragana — Sat, 27 Dec 2008 16:04:30 +0000

Hello!
Yes, maybe I am ready! Or, almost ready — I have been looking carefully and trying to find the place to move form Charlotte, NC. I spent 1 year in Miami when market was high, so I can compare the prices. I would like to buy form seller directly, avoiding all agents, vultures and sharks!
Please let me know WHERE is you apartment?
Thanks
Dragana Males

Comment on About Me by Dan

Dan — Fri, 10 Oct 2008 01:54:46 +0000

I love Miami very much but I must say that all the R/E sales and investment reps are eating their words now. The ignorance is unbelievable. Miami condo market is overpriced and over built. Period!! 25-30% drop in prices 2008-2009 is the beginning. Daniel Perez’s comment is a prime example of ignorance of markets and overall common sense. Good luck Miami and see you soon in four years.

Comment on About Me by carlos

carlos — Thu, 02 Oct 2008 03:11:07 +0000

miami as a whole is a giant cess pool, and brickell is full of dimwitted brats whose mommies and daddies cater to their every need. fuck the whole thing and get out. the people who think the market will recover in 3 years are sorely mistaken (typical blowhards who will justify their “investment” until they go broke). fact is, you bought into the hype and now you must pay or wait a whole decade at best. good luck, asswipe.

Comment on On local news last night by ted

ted — Tue, 09 Sep 2008 11:44:58 +0000

“Plaza on brickell is doing great.”

Ha! Delusional buyer. Have any sold lately for anywhere near what you paid? I think not.

Comment on On local news last night by joe

joe — Mon, 07 Jul 2008 00:41:50 +0000

Dude before you put money down you should have financing secured. you obviously wanted to profit from it and sell it later for a bigger price.
so the prices went south and you lost. so swallow it like a man. stop trashing everybody else. plaza on brickell is doing great. it is just your problem that you got burned

Comment on Recovery plan by One Ford Road

One Ford Road — Mon, 30 Jun 2008 17:11:24 +0000

I agree. Walk away. Buying would be a foolish decision.

Amanda <3

Comment on On local news last night by W.C. Varones

W.C. Varones — Sun, 08 Jun 2008 19:02:44 +0000

So what’s the conclusion? Did you walk away? I think you’ll be glad you did.

Comment on FAQs by Mo

Mo — Sun, 08 Jun 2008 10:47:47 +0000

I made a website to help prevent others from falling victim to Realtors. It details the Miami real estate crash: http://www.miamicondoforum.com

Comment on About Me by slugbelch

slugbelch — Thu, 05 Jun 2008 21:46:06 +0000

I live in Ft. Lauderdale (Tamarac) and at $285k (with $30k down), your payments will be $1,600/month and an additional $1k will be for everything else (insurance/taxes/etc.). I bought a 3 bedroom house/garage with a huge front and back yard for the same price 2 years ago. Only 10 min to the beach, big deal. Miami is indeed getting bad. I have been following all this down here and everybody is saying that bottom around here won’t hit until late 2009/2010 at the very least. People are starting to get another house while they are low $ and their credit is good, then short sale or dump or walk away the high price one. The only snag to all this is that banks are now much more stingy to give out money. I went to refinance one day and they all told me that whatever loan you get, you need to come up with 20% for starters. That has now become a basic requirement from banks down here.

In every industrial park you enter here, there are “For Lease” signs on nearly every building. People and companies are indeed getting out of here because they see no future with the high cost of living getting even higher. Fixed income people “the elderly” have experienced a huge drop off from moving down here. Don’t see it changing anytime soon, at least for another 5 years to notice any change for the better.

Get out of Miami and get out fast.