"Shocked the system" with a price drop $136,000 on the Miami Beach apartment.

I'm in shock myself. The apartment was listed originally at $535,000 and now it is on for $399,000. It is a huge drop and a big loss as far as I'm concerned, as I'm the owner.

   Over $136,000 drop in price. Is this occurring all over in our Miami market? And is it indicative of the glut with all the new building, or is it the fact that there isn't a lot of new businesses moving here?

  I just keep thinking with our dropping dollar, Europeans should be flocking to our shores.

  What is your opinion?

 
Post is included in group: SoFl Rainers

5 Comments on "Shocked the system" with a price drop $136,000 on the Miami Beach apartment.

It's happening everywhere.  We've had to drop prices in California or just wait to sell.  It's crazy right now. 

11/29/2007 10:14 AM by Chris Fisher of StagersLIST.com Buy Stage Sell (StagersLIST.com)

Lois, I have had the same thought regarding international investors. When marketing a listing, why not go global. After all the internet can reach every nook and cranny of this big blue ball. Hope this link can help you achieve that.

                                                          

11/29/2007 12:11 PM by Rob Baldwin, Santa Clarita REALTOR® (Pinnacle Estate Properties)

Wow!  That is a H*U*G*E reduction and hopefully it will create a frenzy of buyers headed YOUR WAY!  We are all suffering...too bad you're not Canadian looking for a home in Miami!

11/29/2007 06:08 PM by Real Estate Specialist | Brandon, FL | Susie Roscoe (Signature Realty Associates)

Wow!  That is a H*U*G*E reduction and hopefully it will create a frenzy of buyers headed YOUR WAY!  We are all suffering...too bad you're not Canadian looking for a home in Miami!

11/29/2007 06:08 PM by Real Estate Specialist | Brandon, FL | Susie Roscoe (Signature Realty Associates)

Many are coming and they know that they can get things at rock bottom prices right now -

11/29/2007 08:03 PM by Bill & Barbara Jo - Florida Realty Professional - AHWD (Charles Rutenberg Realty)

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Real Estate Trainer: Lois Geller Marketing Trainer/Speaker/Author (Mason and Geller Direct)
Lois Geller Marketing Trainer/Speaker/Author
Aventura, FL
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