International buyers are returning back to Florida in numbers especially to downtown Miami condos. Empty condo buildings just a year ago are almost sold out now. Half-price condo tags are definitely a lure for foreign buyers with cash. Most investors plan either keep their condos or rent them out until the market completely recovers.
The same trend is obvious in Naples as well. Very poorly populated a year ago conversion condo communities like Reserve at Naples started to sell very fast. Almost all foreclosures are gone now and there is a turn for short sales which will propbably drop their price again soon. Short sales are notoriously slow and quite frequently lead to foreclosures. Naples high end market is definitely bound to shed more dollars off their price tags still. However there is some hope for upscale homes too coming from the North.
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