Fort Lauderdale Real Estate Area A Bargain According To CNN Money
Recently CNN Money named the South Florida area as one of 6 markets across the Country where they see bargains for buyers.
The CNN Money article finds that excess inventory spells big discounts for prospective buyers and that deals are everywhere to be had. We live in South Florida and I have to tell you, they are absolutely right!Our inventory levels are as high as 3 years in some Fort Lauderdale real estate locations. Once the hot bed for real estate speculators, the real estate market here has gone from Livin La Vida Loca to the Viennese Waltz. Actually it’s been more like an elementary schoolyard version of real estate musical chairs, with a lot..a whole lot of homeowners left standing when the music stopped.
Prices are down, way down, in some locations as low as 30% from year over year levels. According to the S&P/Case Shiller home price index, while median condo prices fell 10% in December. Sales have nearly ground to a halt: Condo and single-family-home sales plunged 40% last year.
In this extreme buyer’s market bank owned properties here in the Fort Lauderdale real estate area and to points as far south as Miami and all over South Florida, inventory abounds and buyers have all the leverage.
While some chic Miami Beach condos can still command top dollar with prices above $1,000.00 per square foot, that air is rarefied. Throughout the Fort Lauderdale real estate market and all over South Florida you can now find great deals on fine homes at prices from $250.00 a square foot and below.
Whether you are looking for a luxury waterfront mansion or luxury condo or a bank owned foreclosure property, or if you are relocating to the Fort Lauderdale real estate area, you can search for a new home for free by clicking any of the links below.
If you find anything that you are interested in or if you have any questions about any of the homes or neighborhoods, please email me or give me a call. The easiest way to contact me is to simply use the contact form below.
I look forward to hearing from you and good luck with your search.
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