6,000 Homes in South Florida for 50K or Less

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You won't find any shortage of dirt cheap homes on the market in South Florida.

According to a report Friday from CondoVultures.com, Palm Beach, Broward and Miami-Dade counties boast more than 5,400 townhouses and condominiums and 600 single-family homes for sale at $50,000 or less.

Broward leads the pack with 2,400 properties. So far this year, buyers have scooped up roughly 7,000 homes at below $50,000 across South Florida, more than half of the sales were in Broward.

Peter Zalewski, principal of Condovultures.com states: “At the peak of the real estate bubble, parking spaces in new condominium towers were sold at prices that today can purchase homes,"

While prices have plummeted, many of these properties are listed this low because they need serious renovations. That makes investors more willing to buy them than families who plan to live there long-term.