Irina, Home Buyer in Hollywood Beach - Qu...

With gas $4 and down economy we expect new crisis, do you think properties will devalue again in Florida?

Asked by Irina, Hollywood Beach - Quadoman, Hollywood, FL Sun May 1, 2011

Market is really soft still with high gas and no exit from poor ecomomy do you think someone playing market in near Miamy Florida? It is very unresonalbe jump and I think it will go quickly down. Rate is also still very low. It seems to me that someone playing on the market and peoples money again. What is your opinion

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7
Hi Irina!

Homes closer to metropolitan areas that are near public transportation will be in greater demand.
1 vote Thank Flag Link Sun May 1, 2011
Bill is right, not only have sale prices started to raise but the quantity of sales and pending sales are up from last year, and as interest rates increase, so does the urgency for many buyers, leaving fewer and lower quality options out there. There is always the
1 vote Thank Flag Link Sun May 1, 2011
Irna,

As inflation take over, one of the effects is that prices will increase.....I believe we have already seen this as everything is becoming more expensive.....right?

The fact of the matter is that this rule will not only apply to fuel, services, food, and products in general but HOMES as well. Thus, inflation could help the struggling home prices.........

Bill
1 vote Thank Flag Link Sun May 1, 2011
As long as active listings inventory remain as low as it is, then sale prices will continue to rise. There is a high demand with low supply in South Florida right now. Foreign investors and baby boomers looking to reitre are fueling the purchases and rise in prices. I don't think the economic factors mentioned will affect real estate values as much due to current low inventory. And as the ecenomic crisis in Europe continues, those people will continue to invest in South Florida while they still maintain buying power and greater appreciation.
0 votes Thank Flag Link Wed Nov 21, 2012
Irina,

Hi! Real Estate is very local. Cities such as Weston and Doral have risen in price. There is very little on the market and the banks are controlling prices. Basic economics lets you look into supply and demand, small amout of supply and a large demand will make prices rises. Interest rates are also rising.

Good Luck!

Susan Penn, PA, SFR, CDPE http://about.me/HomesForSale_SusanJPennPA
EWM Realtors® | A HomeServices of America Company | An Affiliate of Berkshire Hathaway
2000 Main Street, Suite 103 | Weston, FL 33326
T: 954.306.7337 | C: 954.557.5993 | F: 954.515.0200 | penn.s@ewm.com | http://www.ewm.com
0 votes Thank Flag Link Sat Sep 1, 2012
I LOVE TO SMOKE DA CRACK CAUSE IT HELPS ME TO PREDICT DA FUTURE......SOCIALISM FOR DA RICH AND CAPITIALISM FOR DA POOR LONG LIVE AMERICA!!!!!!
0 votes Thank Flag Link Fri Apr 27, 2012
I believe that we can not predict the future, but what I can tell you is that the real estates market in South Florida, is on high.

http://www.trulia.com/blog/luis_lozada/2011/02/ee
0 votes Thank Flag Link Fri Jun 3, 2011
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