South Florida’s under-$50,000 inventory dominated by short sales: report

For South Floridians with a tight budget, there are more than 5,400 townhouses and condominiums and 600 single-family homes on the resale market for under $50,000, of which lenders control roughly 15 percent, a new report from real estate brokerage and consultancy Condo Vultures, based on data from the Miami Association of Realtors, shows. Short sales account for another 42 percent of the inventory. The greatest amount of the low-priced inventory is in Fort Lauderdale, which has 2,400 properties that fall into that price range. West Palm Beach had 2,100 properties for under $50,000, and Miami had 1,500, Condo Vultures said. TRD