Warren Buffet's CEO wason TV tday saying single family property in Florida is still strong, but not the condos.  You may have trouble unless they are very discounted.

Thanks for the info Heath! Most of the condos are at a 50% discount, do you think that's enough?

ROTF!!!! Warren Buffet's CEO evidently doesn't have any single family residences in Florida that he's trying to sell. I can't get rid of them for more than about 50% on the dollar. It's true though, selling condos is worse. They're practically giving them away down here. I am an investor in the Tampa Bay area and network with other investors here and out of state. If you would like to share what you have I will gladly let others know about it.

Thanks Karen, I'll give you a call with details. And yes, I think everyone in Florida is trying to sell something!

Condos galore. How do we as realtors think that situation is going to play out in the end?

International buyers are coming to Florida by the droves and buying up everything at 50%. I think that the property management companies are going to profit greatly in the near future. Those with the cash will have a huge rental portfolio. And there will be more renters than ever because they've lost their homes. Not a pretty picture of a cycle of real estate, Huh?

Valerie, I think that once that cycle goes full circle, things will return to a somewhat normal state. Once all of the excess properties have been bought up, the prices will once again begin to rise. Many of the people who have purchased these homes will want to sell to make their profits. Its all in a day's work. Real estate, like the stock market, has its ups and downs. Life goes on.