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Old 04-29-2009, 08:36 AM
 
789 posts, read 2,356,116 times
Reputation: 129

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Florida real estate: Life among the toxic assets

But it's not just the more affordable homes that are moving. Consider Bruce Mark, a 47-year-old who moved back to South Florida with his family last year. Mark purchased a five-bedroom home in Plantation in December. The 5,000-square foot house sold for $645,000 in 2000 and then $950,000 in 2003. Mark bought it for $534,800.
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Old 04-30-2009, 07:36 AM
 
Location: Fort Lauderdale
423 posts, read 1,506,008 times
Reputation: 93
I see this all day... although aggressively priced properties do get sold in days, often time at above asking price. This is specially true for single family homes in suburbs that were built in the last decade or so... specially within the price range of 250K - 350K. Bigger properties are above 400K are still sitting in the market even though they were 'worth' close to a million at the peak.

Volume has also picked up in the eight months, also while the prices are still edging down, the downward pressure has certainly slowed. Hopefully we will stabilize sooooon!!
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Old 04-30-2009, 12:37 PM
 
789 posts, read 2,356,116 times
Reputation: 129
Quote:
Originally Posted by rkumar3 View Post
I see this all day... although aggressively priced properties do get sold in days, often time at above asking price. This is specially true for single family homes in suburbs that were built in the last decade or so... specially within the price range of 250K - 350K. Bigger properties are above 400K are still sitting in the market even though they were 'worth' close to a million at the peak.

Volume has also picked up in the eight months, also while the prices are still edging down, the downward pressure has certainly slowed. Hopefully we will stabilize sooooon!!
not soon enough...oh well I'll continue to visit...

here's an interesting bit on jobs... The Geography of Jobs - TIP Strategies
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