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I live in the what experts call the worst real estate market in the country, South Florida. Miami and Ft. Lauderdale are in the top five markets in the US in foreclosure rates, number of unsold homes relative to population, prices have declined 25% or more in the past year and have recently been predicted to decline another 20%-25% this year.
However, though an acquaintance, who is a high end real estate broker in the area, I have learned that no less than 5 homes have sold in the past 60 days for between $5.2 Million and $12.5 Million dollars.
All were private sales, none were foreclosure sales. One was even a sale of a condo just under construction.
So where there was 7 homes on the market less than 60 days ago with prices between 5M-12M there are now only 2. They were all beachfront.
Some sales are so recent there are still listed online at realtor.com even though they are sold.
So what does that say about the economy, and not only people’s ability to spend money but their willingness to do so.
Remember the 3 rules of real estate, location, location and location.
Well here are the 3 rules of domaining. Quality, Quality and Quality.
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I live in the what experts call the worst real estate market in the country, South Florida. Miami and Ft. Lauderdale are in the top five markets in the US in foreclosure rates, number of unsold homes relative to population, prices have declined 25% or more in the past year and have recently been predicted to decline another 20%-25% this year.
However, though an acquaintance, who is a high end real estate broker in the area, I have learned that no less than 5 homes have sold in the past 60 days for between $5.2 Million and $12.5 Million dollars.
All were private sales, none were foreclosure sales. One was even a sale of a condo just under construction.
So where there was 7 homes on the market less than 60 days ago with prices between 5M-12M there are now only 2. They were all beachfront.
Some sales are so recent there are still listed online at realtor.com even though they are sold.
So what does that say about the economy, and not only people’s ability to spend money but their willingness to do so.
Remember the 3 rules of real estate, location, location and location.
Well here are the 3 rules of domaining. Quality, Quality and Quality.
Send PM
Discuss
Tell a friend
Bury
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...How Can I got it? I think it is which I have't seen....in a related story, citizens are stuffing money under their mattresses...laser pointer,green laser pointer, high power laser pointers
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