The South Florida Real Estate market has been going down since the beginning of the year. One obvious reason is due to the torrid pace the market was going through during 2004-2005. Sellers were are trying to get more than the appraisal amount cause buyers were in frenzy and abided with the sellers wishes. Starting at the end of 2005 article after article was posted in every newspaper publication about how the housing bubble was about to burst. Buyers started getting afraid to buy figuring that market would continue to fall.
But now I suddenly see a change coming. I have noticed articles now are becoming more encouraging towards our market. For example;
September surprise: Housing starts rise 5.9%
By Bob Willis
Posted October 19 2006
Existing home sales could start bouncing back in 6 months in S. Florida
By Paul Owers
South Florida Sun-Sentinel
Posted October 12 2006
I see the tides are turning and I see the market turning around sooner than we think. Let’s hope for all of this is true, I am looking forward to a bright future for our profession.
Carlos “Chaz” Mena