I just received the Bank of America's report for Miami's market and it continues to reinforce the idea that this is the right time to Buy. Buyers do not need to wait until prices hit bottom because, as it we have previously seen before, we do not know if this is going to happen and speculation and greed are not very good friends for investors. The market is already good to buy and only G'd knows when conditions will change.
Please take a look at the following report I think it is helpful to understand the reality of our market and also to assist our buyers in finding and grabbing very good opportunities.
Highlights of the report include:
How Do the Recent 30 Days Compare to the Prior 30 Days ...
Home Prices:
2% increased
29% remained the same
80% Decreased
Prices continue lower; builders' discounts appear more aggressive
Traffic unchanged at weak levels as buyers are convinced prices will fall.
They believe that demand likely exists in Miami at the right price given population growth in the area, but sellers' expectations appear unrealistic according to their survey.
Source: Bank of America market report dated November 1, 2007. Bank of America Securities LLC
adriana f.
Your Green Friendly Realtor
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