I was just visiting Miami when I talked to a firend who indicated that real estate sales are slowly picking up in the Miami area. There are a lot of Miami foreclosure houses and condos in the Miami area, but many first time home buyers seem to be taking advantage of the whole situation. Interest rates are the lowest in years. this is another prime motivation for people who have never bought a home to jump into the market.
There seem to be some people who are moving up into bigger homes, taking advantage of the huge discounts available out there. Some of these buyers could not afford homes of this size, just a few years ago. An investor friend of mine has been scooping up properties in the Miami area. Some agents are seeing a lot of international buyers who are taking advantage of the soft real estate market here, together with a very weak Dollar.
There seems to be some light at the end of the tunnel, as pending home sales are increasing, and many of them seem to actually be closing. I just hope to see many more houses in Atlanta go under contract