Any advise on buying Luxury waterfront condo in Sunny Isles Miami area? (real estate)

[condo4me]

I'm looking to buy some 2-3 bedroom Luxury condo.
1700+ sf
The prices I see, pretty much in the $1mil- $1.4mil+
minimum range, with direct ocean view and all that. Is the prices
for that type of property drop a little at all? I mean is now right time to
buy? Really I don't think waterfront properties will ever decrease in value.
Anybody remember what the prices were at the TOP in 2004 ?
Any decline since then? What is the best way to get one?
Pre-construction or re-sell?

Thanks for advise.

[tallrick]

Sit tight, I have a feeling you'll get some good deals on condos in two years.....

[Need_affordable_home]

Originally Posted by tallrick

Sit tight, I have a feeling you'll get some good deals on condos in two years.....

If the condos are still standing! Theres a thread about predictions of the big hurricane(s) I would never pay a million for any real estate except a mansion and only if its hundreds of miles from the coasts with no major disaster in the area.

[CiXeL]

the realestate market down here is ready for a spectacular collapse. we're expecting to start paying rent to a bank any time now because so many people down here are defaulting and we think our landlord will be in the same situation.
combined with how much growth in miami was based on realestate i feel mid 2007 we will be in full out recession. good jobs are also being swallowed up down here by people escaping the economic hell of michigan and the midwest.
i keep applying for tech jobs only to get the same answer over and over "sorry, filled in-house". people are only hiring their buddies because jobs are that scarce.
short of some dubai-style growth in miami in the keys i think we're in for a rough year. all it takes is a major hurricane to roll into miami proper and its game over. people like to say that it cant happen but they said that about new orleans for decades too.
they're also building lots of flimsy cheap wooden houses in the keys miles from the 1935 hurricane monument AT SEA LEVEL!
suicide boxes being sold for millions. ive taken pictures and submitted them to newspapers telling them how dangerous and stupid it is but noone seems to care.

[traysea]

Cixel--
If you are looking to move-- what would u do? Where would you consider moving to? I am considering moving back to FL, but a lot of the "issues" with Florida give me pause. Living in KY now.. and even thought it's a little boring... my job pays the same here as it would be in florida..(work for a fortune 10 co) but my house in KY 3x less- plus I'm only 15 minutes to downtown Cincy /even at rush hour. read ur website-- are you still doing Lotus (pervasive/mobility/etc) projects? Or was that Toyota only? Just curious.

[CiXeL]

honestly i dont want to give up on my dreams here of getting into agriculture (tropical fruit growing) or reef conservation but if i have to move back to southern california and life with my parents for a bit so be it. im running out of funds. probably got about a months rent left in me so whatever happens will probably happen soon plus whatever the penalties are for breaking a lease.
advice - its not the correct time in the economy to move if youre simply bored. at least bored is stable, thats alot more than alot of people have these days. id welcome boredom. trying to financially stay afloat is no fun and with the added challenge of finding job that accepts a english-only speaker sucks. if youre bored, save up money and travel to other countries once or twice a year if you can afford it. i wasnt financially stable in LA but i had family there. i was hoping to find financial stability here due to the lower cost of living but i jumped out of the frying pan and into the fire. all im looking for would be some place where i could be financially secure, indulge in my hobbies, have friends and be able to do some travelling. i was lotus notes admin for awhile at burgerking corp hq.