Condos for less than a new car

Home prices are plunging, and some of the best bargains are condos. Here are 8 that can be purchased for less than the cost of a new Prius.

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Deerfield Park, Fla.
Deerfield Park, Fla.
Price now: $25,000

Beds: 1
Baths: 1.5
Square feet: 770

Description: Money Magazine recently rated Deerfield Beach the top place to live for affordable homes. It's just north of Fort Lauderdale on the Atlantic Coast and less than an hour from the attractions of Miami.

The condo is spacious and has a half bath, a screened porch, wood floors and is in move-in condition, according to agent Jana Brittenum of Keyes Real Estate. The corner location in the complex gives it nice garden views.

The condo community has good recreational facilities with a swimming pool, clubhouse and exercise area, but maintenance charges are a modest $180 a month.

The last time the unit sold was in 2005 when it went for $115,000. Why so inexpensive now? For one thing, it's a short sale, which the lender will have to approve. Also, the condo association's bylaws prohibit renters, so any buyers would have to want to live there.

For more information: Trulia
NEXT: Miami, Fla.
Last updated August 02 2010: 3:50 AM ET
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