There is a light at the end of the tunnel in Miami Beach Real Estate and that light is no longer an incoming train! The bottom HAS been reached and none to soon. For the last 9 months, sales have increased over last year by double digit proportions. Last month alone, condo sales in Miami increased at a staggering rate of 37% over last year. The average price of beach front real estate INCREASED last month by over 1.2 % Thats welcome news to owners who have seen prices plummet, even on the beach by about 35% since 2006. Lower interest rates, a weak dollar, the fear of inflation and decreased prices have all combined in a perfect storm to bring sales sizzling back to life. Keep in mind that over 75% of these sales are foreclosure or short sale properties. Short Sales are where the bank is selling distressed properties by owners for less than the loan amounts in leu of foreclosure. Its all good news for Miami Real Estate.
If you have been holding back on making a good real estate investment, you should not be waiting any longer or you are going to miss this cycle. Prices WILL go up. Inflation WILL go up, Interest rates WILL go up. You cant print 2 trillion dollars in funny money in Washington D.C. and NOT have that happen. One of the few hedges against a devalued currency and inflation IS real estate. DONT MISS OUT or the light you see WILL be train of regret!
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