It is hard to answer that question. Sunny isles is very different from Hollywood and Hallandale.
We are not in a bubble, but rather a correction. If it was a bubble, then prices would have dropped more than 50%. Prices have fallen approximately 25% generally speaking. Sunny isles with all its new construction has signifcantly more inventory in its price point. As long as their as much excess inventory to the current market, then prices will continue to fal. But other variables can help bottm the market out, such as a repeal of property taxes for example. And the state legislature is in session discussing possible other amendments to address the tax situation.
Any questions email me at pheller@bellsouth.net - Wed Apr 23 2008, 10:12