The South Florida condominium market may be ripe for investors given the current conditions of the market. The large number of foreclosures should be advantageous to those looking to invest in the South Florida market.
As we discussed in a previous article, there are new Acts in place to help the large scale investors. However, there are still deals for smaller investors and homebuyers looking for a favorable price.
Median condo prices fell as follows:
Broward County: 14% year-over-year slide in August 2010 to $73,000
Palm Beach County: 24% year-over-year decrease in August 2010 to $84,900.
Where do we go from here?
Some analysts expect prices to fall another 5% to 10% before reaching a stage of price stabilization. These analysts believe it will take a year or more before prices increase consistently.
Individual markets and submarkets are important to follow when you are looking to buy or sell a home. A person who understands these markets is very important when taking on a big decision, such as buying or selling a home.
If you are looking to buy, sell, rent or invest in the South Florida real estate market, please feel free to contact me.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100
http://michaelfriedman.rmlsfl.mlxchange.com/?Page=7395217 <--property search link to cut and paste into your Web browser
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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