House values have declined in the Mims area since 2006. There are now single family residences that can be purchased for under $100,000. Depending on the location of the property in Mims will determine how much the property has decreased in values. The sales have been slow in Mims but they are begging to pick back up! We are seeing that prices are beggining to level and the phones calls/emails are starting to come back.

Dear Carol: Yes, unfortunately, many real property values have gone down over the past two years in Brevard County, Florida, especially in niche markets like exclusive, high-end oceanfront condos. We have seen a huge surge in foreclosed properties and short sales. Now, more than ever, is the time to buy! I am a real estate investor in addition to being a real estate broker and have already purchased one amazing property at a great value recently and am scouring the market every day looking for more extraordinary deals. If you would like specific depreciation information, please feel free to contact us.

Best,
Mark Palace, CEO/Founder
Palace Properties International, Inc. http://www.PalacePropertiesOnline.com
321.773.5611
321.704.9305

House values have not declined in Florida. Much of what you are reading or seeing in the media has to do with people who purchased houses using subprime mtgs at the height of the market, and then expect to resell within a couple years.

The other issue is that the sellers market that drove high appreciation rates right after the hurricanes, due to low supply and high demand, are gone.

I think the market is correcting itself after the boom days. It is not declining, it is going back to normal. some agents who are fairly new to the industry aren't familiar with this and think it is declining.

Is this Mims, Florida? Maybe one of our esteemed Florida realtors can help with this question.