In South Florida, there are houses you can almost drive away

New York /
Sep.September 25, 2009 03:42 PM

From the South Florida Web site: For about the price of a Buick, realtor Sammy Giordano will put you in a cozy, two-bedroom home in Port Charlotte, in Charlotte County. “It’s a great investment property,” said Giordano, a broker with Horizon Realty International in Venice, of the 900-square-foot home, with public utilities, central air conditioning, new paint and carpeting, listed for $29,900. “Or it would be great for a single mom with a child.” Giordano’s listed home has a leaky roof over the master bedroom. If you don’t want to fix it, Adrian Waring, a broker with Douglas Realty & Development, has about 20 single-family homes in move-in condition in Cape Coral, in Lee County, for under $50,000. And there are other five-figure priced houses in the swollen inventory of one of the hardest hit regions of Florida’s housing market crash. “The market got ahead of itself to where it basically collapsed,” Waring said of the price escalations in 2005 and 2006 and the current prices. “[Now] the cost of a new car is about what some homes are going for.”


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