US housing/condo market

[jesseps]

I've been looking at places in South Beach Miami near the ocean.

 

Some of the places are dirt cheap.

 

I ended up finding a place right on Ocean Drive for $419k USD which was 2 bedroom and 2 baths (1200 sq.ft). From the info if I am reading it correctly its full ownership of the unit

[mtlurb]

euh, if its dirt cheap, please get me one please :-)

[jesseps]

euh, if its dirt cheap, please get me one please :-)

 

compared to other ones in the area.

 

They usually go for like $1.2 - $8 million on Ocean Drive. Now you can see why it is dirt cheap compared to the others lol

 

True for the "dirt cheap" place on Ocean you can get a really nice place in Montreal. Which is considered "expensive"

[JCC-Fromthere]

I've been looking at places in South Beach Miami near the ocean.

 

Some of the places are dirt cheap.

 

I ended up finding a place right on Ocean Drive for $419k USD which was 2 bedroom and 2 baths (1200 sq.ft). From the info if I am reading it correctly its full ownership of the unit

 

What tool are you using to do your research? I'm interested. ($419k IS dirt cheap. Even by Montreal standard, a 1200 sqft downtown condo is not going under $350k)

[m anderson]

Now might not be the best time to get into the US real-estate market. Careful...

[jesseps]

What tool are you using to do your research? I'm interested. ($419k IS dirt cheap. Even by Montreal standard, a 1200 sqft downtown condo is not going under $350k)

 

MLS (Canada)

Zillow (USA)

 

SoBe not really downtown. For me it probably be like Old Montreal. A few minutes.

 

The way I am comparing it. Some people think a $400k+ condo that size in Montreal would be expensive. If you look in that area in South Beach it be considered cheap (That is the way I see it).

[peekay]

Is it SoBe or SoFi?

If it is SoFi (Still South Beach but south of fifth ave.) It is more quiet than the craziness of South Beach but not as nice.

[Habsfan]

Now might not be the best time to get into the US real-estate market. Careful...

 

 

I would wait another 6-12 months before investing in Real Estate in the U.S. Especially in Florida. There are soooo many condo towers going up in miami that will never be sold. Patience boys. 6-12 months!

[JCC-Fromthere]

Now might not be the best time to get into the US real-estate market. Careful...

 

Au contraire! Now is the absolute best time. Prices are low. The credit crunch seems to be mostly over. The feds are going to lower the overnight rate again. Which means that in a few months, money will be cheap and confidence will rebuild, and with this, people will start buying again. It is a buyers' market right now in the US. Furthermore, the CDN dollar, supported by resources prices, might not stay where it is as temporary oil production problems go away.

 

The time is now. For me, the question is more along the line of; invest in the USA, or China... (strongly leaning towards China)

[Habsfan]

Au contraire! Now is the absolute best time. Prices are low.

 

Je suis persuadé que les prix des condos(SURTOUT à Miami) vont baisser encore et de beaucoup!