I just browsed Miami via Zillow.com - For the most part, any home valued at less than 250K is a Cracker-Jack box or a condo.
That's simply not true. you have to know zipcodes in Miami and their corresponding areas and price points to get an idea of what you can get in Miami. As I said suburbs like Cutler Bay(in my day Cutler Ridge), North Miami Beach, Homestead, etc have a more middle class standard of living. Also some of the 'cracker boxes' you are talking about are your standard 1500-1800 sq foot standard south florida living. They generally are a bit smaller sq footage on the inside and people generally lush up and pool up the backyards and they are used as additional living space because of the weather conditions. Those same houses are also much older. For the smaller home, the lots is generally bigger for Miami then the newer builds that are 2 feet of distance short of being condos. Miami is a like a lot of beachfront communities in that prior to the days of excess when it comes to housing, generally one had a modest home where they could do their basics because they spent a lot of their times living outside. It's one of the benefits of living in an area like that. I know I could tolerate 1100sq foot in Miami better then 1100 sq foot up here in the great lakes where you are inside almost half the year.
Now all that said, when the crash came down, home values did lower significantly in the area. It's actually far more affordable to live down there then it has been in years. My dad's home is standard south florida fare...mid 2000 sq feet, pool, enclosure on pool, nice lot because it's an older one story home, etc and his is now worth under 250k--at one time it was valued at 500K and he bought it years ago at 173K. Now, the thing about Miami too is you can have a nice middle class to upper middle class home up the street from a home worth millions. People buy lots of 2 or 3 homes there(or use to) and build gigantic homes.
Anyway, interesting little tidbit on that note. My brother used to caddy a lot of the celebrity golfing events that would go on in the area when he was in high school. He went to school with more then a few who are dating, married to, or children of various sports stars or celebs.
I got the lowdown on the 'bitch or not'.
He loved doing that but he's a sports nut. He could probably watch paint dry if there was some competition in it.
I just took a peek at my last home I lived in with my parents in Miami...181K--2000sq foot, covered pool, 3/2...it's in one of those bedroom communities I mentioned;-) Before the bubble burst that was up to about 350K. It makes me happy though to see those prices and the area more affordable. One of the ideas I've toyed with depending on how things go in the next few years is moving back down there closer to family. And the prices I'm seeing for areas I know are acceptable for my standard living are actually affordable. Man, what I wouldn't love to walk back out the beaches and jetty's someday.
