Update: Aventura Foreclosure

June 2, 2007 by Lucas Lechuga


Three weeks ago I wrote about a foreclosure that I found for a client of mine. It was a two-story 1 bedroom townhouse located in Aventura that had 859 square feet of living space and an attached 1-car garage. My client was able to get this unit under contract with an offer of $206,000 and $6,000 back at closing. The development is located in the heart of Aventura, within walking distance to Loehmann’s Fashion Island Mall and one mile of the famous Aventura Mall. The appraisal was completed yesterday and came in at $265,000. That is amazing in today’s market where properties are rarely appraising higher than the list price. Over 30% above the list price though is phenomenal.

There are a lot of great opportunities right now in Miami. Stay tuned to the Miami Condo Investments blog to learn about the latest foreclosure opportunities to hit the Miami real estate market.

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