A broker I once worked for gave me this piece of advice. "You can tell when we hit the bottom once were back on top." I'm not sure about the market in Florida but in California unemployment is on the rise and so are mortgage defaults, I think prices might just dip a little more in the future.
Realty World & Associates
So the answer is NO. We have not bottomed out on prices yet. I see 100-200 price reductions per day in my little area.
Scott Miller, Realty Associates, Boca Raton, FL
If we actually see the Tax Credit monetized and some real mortgage restructure options for the distressed homes on the horizon...things should be getting better.
ReMax ACR Elite Group, Inc