Miami Angel Properties » miami bank owned

The Mark on Brickell Foreclosure

Ross — Tue, 27 Jul 2010 14:56:28 +0000

PRICE: $389,900 FORECLOSURE

Description | The Mark on Brickell is a luxury condominium project in a fantastic downtown Miami location. The building offers full amenities to enjoy the Brickell lifestyle including tennis courts, racquetball, gym spa, parking, security, restaurant, convenience store, valet and concierge. This bank owned property offers fantastic direct bay views of Biscayne Bay and Miami Beach. The former owner of this property paid $840,000 for this unit in July 2007. To view this luxury condo residence in this hot Brickell location – call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 1155 Brickell Bay Dr., Unit 2410, Miami - map it

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1155 Brickell Bay Dr U2410 (Right click the link and choose “Save link as”)

Ten Museum Park Miami

Ross — Tue, 20 Jul 2010 19:09:26 +0000

PRICE: $589,900 FORECLOSURE

Description | Ten Museum Park, an architectural masterpiece designed by Chad Oppenheim, is the ultimate loft home in the city of Miami. With 20 foot walls of floor to ceiling glass, this boutique condo project offers endless views of Miami Beach, the port of Miami, Fisher Island, Key Biscayne and the ocean. The building amenities includes five swimming pools, gym, yoga center, a VIP lounge, 24 hour security, valet, and Clinique La Prairie Wellness Center. Walk across the street to see the Miami Heat at the American Airlines Arena or catch a performance at the Adrienne Arsht Performing Arts Center. To view this stunning loft condo in downtown Miami, call or email us today - 305.673.5300 or info@miamiangelproperties.com.

Address| 1040 Biscayne Blvd., Unit 3704, Miami - map it

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1040 Biscayne Blvd U3704 (Right click the link and choose “Save link as”)

Bentley Bay Condo Foreclosure

Ross — Tue, 20 Jul 2010 18:39:59 +0000

PRICE: $470,000 FORECLOSURE

Description | The Bentley Bay is a modern high rise condominium that is perfectly located at the entrance to South Beach, and within minutes of the beach, downtown Miami and Miami International Airport. This bank owned property is a large two bedroom unit, with floor to ceiling windows, plenty of natural light, as well as incredible views of Biscayne Bay, Star Island, the Port of Miami, and the Miami skyline. With exquisite marble and wood flooring and a gourmet kitchen, this property is a steal! To view this stunning Miami Beach condo, call or email us today - 305.673.5300 or info@miamiangelproperties.com.

Address| 540 West Ave, Unit 1711, Miami Beach - map it

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Banks and Investors show confidence in Miami Beach real estate

Ross — Fri, 09 Jul 2010 22:44:34 +0000

Since the onset of public auctions moving to an online platform and opening up to global investors earlier this year, we have witnessed a number of changes to the old system of bidding in person at the Clerk of the Court’s office in Miami-Dade County.

The result? Substantially more properties are transferring ownership at public auction and we are witnessing some impressive all cash bids.

First, the number of bidders has changed dramatically. In the past, there would be less then 10 serious bidders at the auction, with up to 20 players on a busy day. Now, there are hundreds of “virtual bidders” bidding against each other from all corners of the globe.

Second, the bank’s representatives provided bidders with just a handful of reserve prices prior to the auction, perhaps less then 10 percent of those properties on the schedule. Now, banks are able to place their reserve price on each property up for auction in advance.

Third, the number of properties that would actually auction off has increased substantially as the online bidding system pushes them through in the thousands instead of the hundreds. For example, in November 2009, a total of 1,043 properties were sold at public auction, versus June 2010, when 4,010 properties were sold at auction via the online platform!

What does this all mean to the average investor? The banks are now having to repossess and place substantially more distressed or foreclosed Miami properties on their books. Therefore, we should expect what has been a trickle of bank foreclosures to increase to a more steady flow. Hopefully, this is going to be the motivation the banks need to diligently work at dealing with their bulging shadow inventories of foreclosed properties.

In addition to the above changes, we are also witnessing the banks having to outbid aggressive investors for certain properties, in particular, properties in high demand locations like Miami Beach. Let’s consider these two recent examples -

(1) 450 Alton Rd, Unit 1801, Miami Beach – This large condo is located in the popular Icon South Beach project in the South of Fifth neighborhood. On May 10, 2010, the property sold at auction to the bank holding the first mortgage for $1,500,100. Therefore, as bids are made in $100 increments, an investor had placed an all-cash bid as high as $1,500,000. This 4,303 SF property is now on the market with an asking price of $2.2 million. The former owner purchased the unit from the developer in June 2005 for $2,725,000.

(2) 6365 Collins Ave, Unit 3608, Miami Beach – An oceanfront 2 bedroom, 2 bathroom condo located in Akoya in mid Miami Beach, this corner unit sold at auction on March 1, 2010, for a price of $460,100. Therefore, an investor was willing to bid as high as $460,000, or $348 per SF, for this oceanfront unit. The bank REO property is on the market with an asking price of $580,000.

As these types of transactions are becoming more commonplace for certain Miami properties, sometimes I think that this supposed “Great Depression” is just an illusion. Not only are investors willing to aggressively bid for condos in Miami Beach at impressive numbers, but the banks are apparently just as, if not more bullish on our real estate.

Are you looking for a Miami or Miami Beach investment property at a deep discount? Are you looking for a discounted short sale or bank owned property? Do you need a professional property manager for your investment property? Ross Milroy of Miami Angel Properties, LLC may be reached at 305-673-5300 or info@miamiangelproperties.com.

Modern South Beach Condo

Ross — Thu, 01 Jul 2010 00:20:17 +0000

PRICE: $367,000

Description | A generous two bedroom two bathroom condo in the heart of South Beach with its own private roof top deck. This property has been meticulously renovated to offer you a contemporary and modern condo in a superb location. A corner unit, with tons of natural light, wood floors, several curves and lines. Walk to the beach in a matter of minutes and enjoy breakfast on Lincoln Road, this location is simply fantastic. To view this modern South Beach condo, call or email us today - 305.673.5300 or info@miamiangelproperties.com.

Address| 1250 Drexel Ave, #2 and 4, Miami Beach - map it

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1250 Drexel Ave _2 and 4 (Right click the link and choose “Save link as”)

Brickell on the River Miami

Ross — Tue, 29 Jun 2010 20:10:41 +0000

PRICE: $369,900 CLOSED SALE $330,000

Description | This corner unit is situated on the 35th floor of the luxury Brickell on the River condo project in downtown Miami. With three bedrooms and two bathrooms, this bank owned property offers loads of living space together with fantastic views of downtown and the bay. To view this foreclosure condo in the sky in downtown Miami – call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 31 SE 5th St., Unit 3515, Miami - map it

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Luxury Mediterranean Miami Beach

Ross — Sun, 27 Jun 2010 18:51:48 +0000

PRICE: $2,750,000

Description | A luxurious waterfront Mediterranean mansion in the heart of Miami Beach. This two story home built in 2005, features marble flooring, large windows, soaring ceilings, a gourmet kitchen and spiral staircase to the second floor master suite. With a tropical oasis, huge outdoor entertainment area, free form swimming pool and dock, this home is a boater’s dream. To view this large single family residence in Miami Beach – call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 4442 Prairie Ave, Miami Beach - map it

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Brickell Bay Foreclosure

Ross — Tue, 15 Jun 2010 15:16:00 +0000

PRICE: $279,000 BANK OWNED CONDO

Description | The Club at Brickll Bay is located in the heart of the Brickell Financial District in downtown Miami. This bank owned condo is on a high floor and offers open views to the south of both the city and Biscayne Bay. The unit has been upgraded with marble flooring in the living areas and it is in move in condition. To view this foreclosure opportunity in the Brickell area - call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 1200 Brickell Bay Dr., Unit 3123, Miami - map it

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1200 Brickell Bay Dr U3123 (Right click the link and choose “Save link as”)

1800 Club at Bayshore

Ross — Tue, 15 Jun 2010 14:43:59 +0000

PRICE: $187,000 FORECLOSURE

Description | A one bedroom, one bathroom new condominium located in the 1800 Club Condo located just minutes from downtown Miami and Miami Beach. On the 39th floor, this condo offers fantastic views of Miami as well as upgraded wood flooring and ceramic tiles in the living areas. This property has also been approved for Fannie Mae Home Path financing and may be purchased with only a 3% down payment. To view this bank owned property in this hot Miami location – call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 1800 N Bayshore Dr., Unit 3904, Miami - map it

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1800 N Bayshore Dr U3904 (Right click the link and choose “Save link as”)

Meridian Lofts South Beach

Ross — Fri, 11 Jun 2010 19:40:22 +0000

PRICE: $335,000 CLOSED SALE $330,000

Description | A large and open modern loft with lots of natural light and polished concrete floors to create your own space for your new South Beach home. The Montclair Condo is located one block off of Lincoln Road, the New World Symphony, and a few minutes walk to the beach. This building was constructed in 2005, and features covered parking, security, a courtyard pool area and large balconies. To view this loft residence in this hot South Beach location – call 305-673-5300 or email us info@miamiangelproperties.com.

Address | 1700 Meridian Ave #205, Miami Beach - map it

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1700 Meridian Ave _205 (Right click the link and choose “Save link as”)

Miami Angel Properties » miami bank owned

The Mark on Brickell Foreclosure

PRICE: $389,900 **FORECLOSURE**

Ten Museum Park Miami

PRICE: $589,900 **FORECLOSURE**

Bentley Bay Condo Foreclosure

PRICE: $470,000 **FORECLOSURE**

Banks and Investors show confidence in Miami Beach real estate

Modern South Beach Condo

PRICE: $367,000

Brickell on the River Miami

PRICE: $369,900 **CLOSED SALE $330,000**

Luxury Mediterranean Miami Beach

PRICE: $2,750,000

Brickell Bay Foreclosure

PRICE: $279,000 **BANK OWNED CONDO**

1800 Club at Bayshore

PRICE: $187,000 **FORECLOSURE**

Meridian Lofts South Beach

PRICE: $335,000 **CLOSED SALE $330,000**

PRICE: $389,900 FORECLOSURE

PRICE: $589,900 FORECLOSURE

PRICE: $470,000 FORECLOSURE

PRICE: $369,900 CLOSED SALE $330,000

PRICE: $279,000 BANK OWNED CONDO

PRICE: $187,000 FORECLOSURE

PRICE: $335,000 CLOSED SALE $330,000