[Carbondated]

Originally Posted by SoFLGal

If you have several months of increased sales that's a good sign the market might be on an upswing, is it not? I'm not saying that we're out of the woods but it's just a good sign. As of yet we have not seen this. I was just trying to point out that myself and everyone in my office have seen a lot more activity (contacts-showings, etc) in the past few weeks.

Can I ask what price range these homes are in? What kind of buyer are they? First-timers, vacation homes, "investors"/remodelers?

[Miami580]

The numbers in Palm Beach and Broward are a far cry from the National numbers:

"Existing-home sales remained slow last month in Palm Beach and Broward counties as South Florida's housing downturn continues.

Sales in each market fell 28 percent from last February, the Florida Association of Realtors said Monday. Palm Beach County had 401 sales, down from 560 a year ago, while Broward had 360 sales, down from 498.

Broward's median price of $307,700 dropped 15 percent from $362,200 last February. Palm Beach County's median of $344,600 was off 8 percent from last February's $374,300. The median means half sold for more, half for less.

Meanwhile, South Florida's existing condominium markets were hit especially hard last month.

Broward's median price was $139,700, down 28 percent from $194,800 a year ago. Palm Beach County's median of $159,300 fell 24 percent from $209,600 last February.

Condo sales declined 18 percent in Broward and 5 percent in Palm Beach County."

[sunrico90]

Just find out that the MLS listings are not allowed, so please don't post link to MLS listings.

Thank you.

[crystalblue]

Home Sales Unexpectedly Rise (http://www2.tbo.com/content/2008/mar/25/bz-home-sales-unexpectedly-rise/?news-money - broken link)

Bay area numbers.

I havent been on this thread for a while, so, whats the consensus on when the prices will bottom out?

[Wild Style]

^^

South Florida home sales were still low. This national average thing they keep talking about is a "blip" as others have said. Even with this blip it doesn't reflect reality in every given market, especially not down here. As for where prices will be, people have said it 1,000 times. with 20% down 2.5 to 3 times annual income for a given area. It will not be the same across the board. For example the average income in Biscayne is different from the average income of a person in Plantation. That will dictate where prices will end up.

link

[hsullivan]

What are the best ideas to sell property these days. The market is horrible.

[SKB]

Originally Posted by hsullivan

What are the best ideas to sell property these days. The market is horrible.

That question has such an obvious answer. The problem is sellers don't want to face what that answer is.

[JohnVosilla]

Originally Posted by hsullivan

What are the best ideas to sell property these days. The market is horrible.

Make sure it is up to date and shows well. Almost forgot, make sure it is priced at where it needs to be in March 2008 to move it, not a rose colored glasses price picked by a realtor in order to get the listing or a fantasy summer of 2005 FSBO price..

[JohnVosilla]

Originally Posted by crystalblue

Home Sales Unexpectedly Rise (http://www2.tbo.com/content/2008/mar/25/bz-home-sales-unexpectedly-rise/?news-money - broken link)

Bay area numbers.

I havent been on this thread for a while, so, whats the consensus on when the prices will bottom out?

It depends on the area and property type. Some of the hardest hit areas of the nation like a Cape Coral or Pt St Lucie have single family homes at 2001 prices and are near a bottom price wise but will take a good 18-24 months for the market to get in balance again. Other parts of Florida are way behind and not close to a bottom.. Condo implosion everywhere has a ways to go due to much tighter lending especially on heavy investor concentrated complexes, an even larger oversupply, plus HOA liquidity issues resulting in special assessments and (or) sharp rises in monthly dues..

[Hero]

Home sellers more realistic | floridatoday.com | FLORIDA TODAY

Kathy Watson of Baytree originally was asking $269,000 for a three-bedroom investment home between the ocean and river in Indian Harbour Beach. Now, the price is $214,000.
While Watson doesn't have a contract yet, she does have something that seemingly has been missing for the last two years: potential buyers.
"For two years, you don't get any calls, and then, all of a sudden, you start getting many calls," she said.

can't wait for the April - June thread