Miami was named the number one hot spot for retirees from the Six Most Promising Cities for Retirees, according to Fortune-CNN Money, followed by Las Vegas, San Diego, Tampa, Denver, and Phoenix.

Among the cities where retirees do not have to cross international waters to enjoy a vacation lifestyle were Aventura, Bal Harbor and Sunny Isles Beach.

Southeast Florida is one of the real estate regions that have been mostly impacted by the foreclosure pinnacle of existing home sales due to the overwhelming defaulting loans from the real estate boom in 2005.

Real estate analysts speculate that the market will overturn between 2 to 3 years from a suffering market that has prevailed in the past but eventually will pick up again.

At this time, buyers are encouraged  and should take advantage of the overflow of existing properties, and the fact that it is still a low market with properties selling as low as over $150,000 below market value. Property value will never go as low as they were in the 1980's maybe even the late 1990's but taking advantage of the low market cycle of today, retiree's can find great deals in Southeast Florida.

No more the Miami Beach that it used to be but South Florida can offer many new real estate development projects, newly renovated community condo's attractions, restaurants, cafes, the beaches and nightlife.

For more information on Hot Retirement Spots in the Southeast Florida region, including Hollywood, Hallandale, Aventura, Sunny Isles Beach, and Bal Harbor, please contact dperez@majesticproperties.com or call 561-929-4439.

Source: Fortune, CNN Money.com