Certainly a good location, a plot on the islands would have sold for more than that a few years ago. Taxes are high but have dropped as prices have declined. Better rental prospects than spain and year round too. Personally I wouldn’t want to stay long in Miami, fab place for a couple of weeks 😀
Yes, couldn’t live there myself but looks a good spot for rental income. Actually Zillow has some sort of price estimate feature (look just below the main advert) which seems to think its 70k over-valued.
Its a great site, look at this http://www.zillow.com/homedetails/5703-Sunberry-Cir-Fort-Pierce-FL-34951/70415837_zpid/ 5 beds, brand new, $99k. Or this, 6 bed thing for 77k http://www.zillow.com/homedetails/408-N-7th-St-Haines-City-FL-33844/47406533_zpid/ — I bet that last even has a local crack house where one can partake in the local custom of getting stoned and carjacking sum mofo.
Good stuff, gotta love the US of A.
$77K? it was probably worth 300k a couple of years ago and describe as an excellent investment opportunity. You are assuming that price has any relation to the desirability in relation to what you could buy in the UK or Spain. When credit is no longer available, prices of assets collapse, 180k houses sell for 35k. It could happen in Spain quiet easily, with 1.5million spare properties – almost as much as the ‘US of A’, after all Florida has all the advantages of Spain (the weather).