Updated over 9 years ago on . Most recent reply
Florida real estate be be cooling off...
I've noticed the Miami real estate market is cooling off. Asking prices are coming down and the competition isn't as fierce. I have been on the sidelines sipping on my pina colada waiting for a more buyer friendly environment. I think we are getting close.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=4&id=343746
Most Popular Reply
#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
No Natalie. Nothing like the blowout in 2007. There is a big difference. The mass speculation coupled with poor lending standards that had bartenders buying 2M in RE is the big difference. OVER 50% of our buyers are cash buyers. Underwriting standards have been upgraded. We are in no danger of a mass destruction of property values unless we had an external event such as a terrorist attack, etc that affected the entire country. I am still willing to buy today and my last purchase was in June of this year.