What Can You Buy With $100,000 in Today's Real Estate Market?

Great Deals on Homes for $100,000

And there's a pool in the backyard and an added sunroom.

These four houses are all for sale in the $100,00 price range. "The bargains are there," said Ron...

These four houses are all for sale in the $100,00 price range. "The bargains are there," said Ron Shuffield, the president of EWM, one of the biggest real estate companies in south Florida. "Not across the board, but certainly for buyers who are willing to do their homework, work with a Realtor to do their homework, be ready to buy."

(Courtesy Troy Funk, Rick Brenkus, Larry Kriedberg, and Beth Silber)
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Not far away in a Dallas suburb, Downs showed us a three-bedroom home with "a nice-sized kitchen" and a pool.

Originally listed for $139,900, the home is now reduced to $99,000.

"This is a great deal because of the size of the home being over 2,000 square feet. You've got the pool -- it's a diving pool. You've got an attached spa. You've got extra space for your pet," Downs said. "It's just a really great deal and it's in a mature neighborhood."

It is amazing to see what a $100,000 can get you these days: like a bank-owned three-bedroom bungalow outside Los Angeles for $98,900 or a newly renovated home in Cincinnati, listed at $100,000, granite kitchen included.

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Sobering News in South Florida

As we continued our quest in Miami, Shuffield offered a sobering snapshot of the south Florida real estate market. Three years ago there were 14,000 condos and houses on the market in the Miami-Fort Lauderdale area. Today there are 78,000 properties to choose from.

He took us to the Watermark Condominium, a 27-year-old complex in north Miami, just blocks from the ocean.

Agent Allison Cotter was eager to show us what $100,000 would get us here.

"We have an absolutely wonderful one-bedroom apartment," she said. "It's absolutely fabulous. Nice white floors, lots of space big closets. One of my favorite parts is the balcony."

The current owners bought it in 2004 for $135,000. It's listed at $95,500. But in six months there hasn't been a single offer. Cotter thinks a drop of $10,000 might bring in the buyers. But continuing to drop the price can be a difficult pill to swallow for the owners.

"Can I tell you, I have people who actually break down and cry," Cotter said. "When I tell them the news what their apartment is worth. And they literally break down and cry. It's terrible. That's probably been the hardest part of my job right now is telling people the truth."