The Florida Real Estate Market Is Having A Terrible Year.
(Please read-on, the story gets much more positive!!)
Everybody knows this. Its no surprise.
Florida has the third worst real estate market in the country. Only California and Nevada are worse off.
Overall, Florida Real Estate Prices have fallen 12.4% in the last 12 months.
The 'Sky is Falling' on Florida Real Estate and we're coming into hurricane season.
How can a real estate agent make it in Florida? By finding the GOOD and telling people about it. A lot!
"Prices have fallen in the Great State of Florida, what better opportunity to 'Buy Low and Sell High!' There are great bargains to be had."
Of the 20 worst performing markets in the country over the last year, Florida has 7 of them. However, real estate is a long term investment. ALL 7 of these markets have STILL experienced at least a 30% gain over the last 5 years, despite the troubles over the last year according to the Office of Federal Housing Enterprise Oversight 2nd Quarter 2008 House Price index (page 27) Real Estate is not stock. You're not supposed to sell it on a daily, weekly, monthly, or even yearly basis. Looking at Florida, you don't have to hold it for 5 years to be very profitable, despite the troubles of the last year.
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Metropolitan Statistical Areas and Divisions
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5-Year
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Naples-Marco Island,
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45.2
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Port St. Lucie,
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33.58
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Cape Coral-Fort Myers,
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37.49
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Fort Lauderdale-Pompano Beach-Deerfield Beach, (MSAD)
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49.87
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Bradenton-Sarasota-Venice,
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37.80
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Palm Bay-Melbourne-Titusville,
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45.07
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Punta Gorda,
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33.42
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The Nation's housing market is about to get a big shot in the arm from the recently signed Housing Bill. Florida Real Estate will not stay down forever. It is too good a place to live! Buyers will start coming out when they feel the bottom is near. They'll start buying the best deals and the market WILL RECOVER.
;)
;)
Perhaps, but it's those who purchased at the height that are feeling the pain.