Market Conditions

The real estate market in South Florida has always seemed to follow the pattern of boom then bust. At no time was this more evident than when the national real estate crisis took place. South Florida led the way with foreclosures and loan delinquencies. As the dust has begun to settle it appears that South Florida is leading the way once again but this time toward recovery. The international nature of South Floridian buyers, the instability in the national economy, and weakness in the currency have  served to only strengthen the interest of foreign buyers. These buyers have been buying inventory as quickly as the banks and sellers can put them out. This has led to not only a stabilization in pricing in most areas, but a visible increase in certain market areas. This international generated activity has drawn domestic investors into the market as well. It is as likely for me to get a call from a buyer from a block away as from one on the other side of the globe. While that is not an unusual occurrence in South Florida it is what has been responsible for the rebound seen here and not many other places throughout the country. As trouble brews any place around the globe and people seek to find a refuge for themselves and their money they seem to ask themselves “Where would I like to live”? South Florida always seems to be very high on that list, and for that reason we are leading the way for the recovery of the entire U.S. economy.