Florida real estate be be cooling off...
I've noticed the Miami real estate market is cooling off. Asking prices are coming down and the competition isn't as fierce. I have been on the sidelines sipping on my pina colada waiting for a more buyer friendly environment. I think we are getting close.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=4&id=343746
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#5 Wholesaling Contributor
- Real Estate Broker
- Naples, FL
No Natalie. Nothing like the blowout in 2007. There is a big difference. The mass speculation coupled with poor lending standards that had bartenders buying 2M in RE is the big difference. OVER 50% of our buyers are cash buyers. Underwriting standards have been upgraded. We are in no danger of a mass destruction of property values unless we had an external event such as a terrorist attack, etc that affected the entire country. I am still willing to buy today and my last purchase was in June of this year.