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Market Conditions in 33706 : Real Estate Advice

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Fri Nov 11, 2011
Caroline York answered:
Timely question so today, November 11, 2011 there are still a few unkonowns that could lower our prices again. We know that the banks are holding on to inventory they foreclosed on earlier. So even though our current inventory appears to be stabilizing in pricing we must watch carefully to see what the banks are planning to do with their inventory. Two weeks ago I did some research and found 84 properties over the price of $500K along the beaches (from Passe-a-grille to Madiera) that are in the foreclosure process but have not yet been taken over by the banks. How those properties are going to affect property prices remains to be seen. I think we can all say that if prices are lowered the percentage of decrease will not even come close to what has already happened between 2008 and today. ... more
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