(CBS4) MIAMI With florida real estate home sales moving along at a sluggish pace over the last year, South Florida real estate has become a buyer's market.

Currently, there are 6 times more homes for sale across the tri-county area than there were two years ago.

So CBS4 reporter David Sutta set out to find out just how far a potential buyer's money would go in today's market. Teaming up with florida real estate agent at Coldwell Banker, Sutta set out to find the best values in Broward and Miami Dade counties.

On the low end of the spectrum, the first home they looked at was listed at under $250-thousand.

On closer inspection, a potential buyer can see what they're paying for at this one bedroom apartment in Oakland Park complete with a dock slip. The price has been dropped almost $85 thousand from its original list price, noted Weiser, but the buyer will have to pay in elbow grease to fix it up. Just about everything needed to be updated.

"You're buying a shell," said Weiser. "You're buying something you do what you want with - in a great location."

In Miami Dade, for $252 thousand you may lose the water, but gain 3 bedrooms in this house in West Perrine.

"One thing about this property that gives it value," said Bryan Schaeffer, "is that there is room for a pool."

As buyers move into the mid-spectrum, around $550-thousand, things change dramatically.

"When we get to this price point," said Weiser, "people expect something totally, totally different. They want something more finished."

For $525-thousand, a buyer can purchase a townhouse in Sailboat Key in Broward complete with 24-hundred feet of room spread over three floors and just about everything inside is new.

"The reason why this is such a great bargain," said Weiser, "is because a couple of years ago, we would have been asking probably 30 to 40-percent more for it than we are now."

In Miami Dade, the savings continue. With a discounted price of more than a $100-thousand off the original asking price, buyers can check out a home in the Kendall neighborhood of Calusa.

"One of the key selling features of this house other than the community and the neighborhood," said Coldwell's Bryan Schaefer, "is the fact that it has a very, very nice tropical backyard."

Finally in the million dollar market, there are no shortages of luxury homes in florida for those interested in florida real estate investment and florida residential real estate.

In Ft. Lauderdale, a million dollars puts a buy on florida waterfront property, namely Bermuda-Riviera.

"This is deep water access," said Coldwell's Cheryl Kane, "with the ability to walk to Ft. Lauderdale beach.

The 3-3 home, which has been marked down nearly $200-thousand from its original price, has enough dock space for a 65-foot yacht.

"Basically, what is going on in Ft. Lauderdale real estate," said Kane, "is that we've rolled back to our 2004 prices. The value is phenomenal, the selection is phenomenal, and it's a great time to buy."

That same million in Miami Dade a buyer can achieve serenity in Coconut Grove.

"This is one of my favorite areas in all of Miami," said Schaefer. "This is one of the few areas of florida real estate that sustain its market value year round, year after year."

The 3-thousand square foot turnkey home has a view of the pool area from almost every room and Schaefer considers it one of Miami's best values.

"This miami property is probably the very best priced," said Schaefer, "it will sustain its value probably for a longer period of time... and probably do wonderfully through all the difficult times we may be seeing in the near future."

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