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Old 09-08-2009, 03:00 PM
 
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Where would you say the real estate prices in the fort lauderdale area are going to go from today, Sept 8 2009?
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Old 09-08-2009, 05:16 PM
 
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Quote:
Originally Posted by GiantRutgersfan View Post
Where would you say the real estate prices in the fort lauderdale area are going to go from today, Sept 8 2009?
Down for the entire South Florida
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Old 09-08-2009, 06:33 PM
 
Location: Broward County
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FLAT. We have reached bottom...trust me on this.
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Old 09-09-2009, 03:54 AM
 
Location: Parkland, FL
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Slight down to flat. There is just an insane amount of inventory on the market. Once this gets eaten' up over time, that's when we might see appreciation again. I just can't see this happening for at least 5 years.
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Old 09-09-2009, 05:35 AM
 
Location: Weston Florida
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[quote=HowGoesIt;10672773]There is just an insane amount of inventory on the market. quote]

Are you a broker? Where did you get your "inventory" count?

Inventory is being reduced significantly - and homes, especially foreclosures, are in bidding wars right now....

Home prices wll be up next Sept 9th....
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Old 09-09-2009, 06:46 AM
 
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[quote=triplenet;10673181]
Quote:
Originally Posted by HowGoesIt View Post
There is just an insane amount of inventory on the market. quote]

Are you a broker? Where did you get your "inventory" count?

Inventory is being reduced significantly - and homes, especially foreclosures, are in bidding wars right now....

Home prices wll be up next Sept 9th....
I know many banks are delaying their foreclosures...so the inventory is not gonna get smaller, banks are just being smart about it, they don't want all that inventory out there and compete with each other. It makes sense. They need offfers and they are taking all the cash they can. Perfect time to live rent free or buy dirt cheap if you have the cash. Some areas have probably reached bottom but many haven't.
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Old 09-09-2009, 07:12 AM
 
Location: Weston Florida
84 posts, read 295,641 times
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You are correct... The banks learned a lesson and are putting out inventory at a much slower pace to keep price stability.... That is why I believe we are at or near the bottom....

12 months from now things will be much different...
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Old 09-09-2009, 07:34 AM
 
Location: Fort Lauderdale
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Inventory has actually reduced considerably compared to last year and most of what is in the 'inventory' is over priced/unrealistic stuff. This is why when a decent houses with decent condition and price are selling in 1 - 3 weeks. As others have mentioned a good bank owned foreclosure usually gets 10 - 30 offers!

If you have cash it is relatively easier to buy a bank owned bargain, if not it will just take more time, effort and patience.
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Old 09-09-2009, 10:08 AM
 
8,376 posts, read 28,594,379 times
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Originally Posted by heydade View Post
FLAT. We have reached bottom...trust me on this.
We still have another wave of foreclosures that have not occurred yet...
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Old 09-09-2009, 11:21 AM
 
789 posts, read 2,356,116 times
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Quote:
Originally Posted by compelled to reply View Post
We still have another wave of foreclosures that have not occurred yet...
Yup ~~ especially if the economy doesn't rebound. Remember, there are homes that are being foreclosed on because they're loosing jobs. And there are no replacements insight. It's not just the homes that folks had no business buying in the first place relative to their salary.

I think the property taxes r going to slow down the buying process. I have a friend who recently cancel going through with a 300k purchase when he realized how HIGH his taxes would of been.
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