|
Below I posted an interesting article to read from the Florida Association of Realtors website. I wanted to share this with all of our readers. If the prices have not HIT bottom they sure are awfuly close! In most markets around the country times are tough, everyone knows this. You would be surprised at the deals that we are seeing here in the Florida Keys. If you haev dreamt about moving anywhere or investing in a second home, you might want to at least start looking you might be surprised at what you find. Here in Key Largo we have several markets to fit your particular real estate needs. Condos, fractional-ownership, single family homes, new contruction, vacant land, what ever you need! In the mobile home market we are seeing 2002 prices, that was before our big real estate boom! We thought we might not ever see these prices again! We are seeing closings happen more and more often these days. So far 2008 has been great for our go-getter agents here, at Prudential Keyside Properties it seems like we have several homes pending under contract at all times! While handing over keys to very happy new-home buyers and investors alike. Our sellers are happy to be able to move on with thier lives whatever their reason may be, downsizing, upgrading, change of scenery, job relocation. There is always a reason sellers want to sell. Buyers: Make an offer you might be surprised! Bottom prices: I don't know; bottom line: It's a great time to buy in the Florida Keys!
Real estate vultures think Florida condo prices have hit bottom
MIAMI – Sept. 4, 2008 – Trying to time the real estate market and planning to buy once it hits bottom? Get your checkbook.
Condo Vultures LLC owner Peter Zalewski believes the recent purchase of 120 condominiums in Miami’s 50 Biscayne Blvd. tower, by the Philadelphia-based private equity firm Lubert-Adler Partners LP and Related Group of Florida, will usher in a wave of investors looking to snap up distressed properties in the region.
Jack McCabe of McCabe Research & Consulting LLC believes these vulture buyers are an indication that the housing market has bottomed out, and he believes ongoing foreclosure sales could extend the bottom for a few years. He says that vulture investors plan to spend $30 billion or more on distressed housing in the Sunshine State.
However, Lewis Goodkin of Goodkin Consulting Group says prices need to be reduced to about 50 cents on the dollar to attract investors.
Downtown Miami will see the opening of 11,551 condos this year, which is a five-year supply, according to MetroStudy regional director Brad Hunter.
Source: Bloomberg (09/04/08) Ivry, Bob
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688 |
Buying in the Keys 
