We all wonder how long the current market situation is going to last and when are we going to see the first signs of recovery in Market Trends for South Florida Condos and Homes. The new regulations for loan modifications might help some owners who have either lost their jobs or have seen their income substantially reduced. Other owners are seeking to refinance, which might entail higher costs but peace of mind in the long run.
Some are weighing the option to file for bankruptcy to have their loan reduced (big companies are already supporting this plan). There are still too many factors affecting the current South Florida real estate market - and the nation's in general - to determine the success or failure of any of these solutions.
Everyday I hear the same questions: Are we gearing towards the right direction? When is this going to end? Which option should I entertain? Government is placing ambitious plans on the table and time will tell if we are going to see the results we all expect ...
I only know that new condo buyers and/or investors have a large inventory to choose from and great opportunities to grab.