Southern Florida Condo Market Set to Take a Dive
The condo marketplace in Southern Florida is coming to a screeching halt as the speculators have left and the developers are looking at an over supplied market. Speculators, or flippers, have been very active in the south Florida condo market driving up prices and demand at a record rate.
Many pundits attributed the velocity of the market to foreign demand and relocation. Now that interest rates have declined and the market slowed, many of the condos that have been recently built are just partially filled and those that bought to flip are try to sell desperately.
Today, though, the meteoric rise of condo development is on the verge of crashing down to earth. The seemingly unstoppable juggernaut has come face-to-face with economic realities making even the most maverick developers gun-shy. As supply outpaces demand, prices already are leveling off and values of newer condos could tumble by 30 percent or more by the time the market hits bottom, experts say.
“The condo market isn’t just breaking lightly,” Miami real estate consultant Lewis Goodkin said. “It’s screeching to a halt.” As a result of rampant overbuilding, lenders are leery of financing condo construction, forcing developers across the region to cancel, delay or revamp projects. via the South Florida Sun-Sentinel.
I would appreciate if you would forward information on whether land contracts qualify for the tax credit.
Thanks, 
I have lived in Texas all my life, and I'm surprised that Texas as well as Oklahoma and Kansas are ...
I think $1 home is a toy. I don't even imagine to have a house which is worth $1. 
Yo u guys don't no wat ur talkin bout Florida had most crime fade county little haiti opa locka west ...
I don't recommend CL in most cases...I use it for hiring, finding baby stuff, computers and bikes...anything else is a ...
I bought a statue tonight to bury in my yard for a quick sale on my house. I already found ...
Obtaining a viable news source would also be a welcome addition. Lets not pretend that rival political parties are not ...
CL is a crazy mess sometimes. I'll get response emails on a daily basis that are nothing but scammers. Get's ...
We get about 1 call every month related to a real estate scam on Craigslist. I try to visit my ...
If anyone thought this was going to go away in a few years they were just fooling themselves. It took ...
