Buyers are coming back into the market, realizing that prices are lower than they have been in five years. There are opportunities that turn out to be cheaper than the rent the buyers are currently paying. Not only are there incredible deals in the foreclosures that are coming on the market, daily, but regular inventory has seen reductions in prices on a weekly basis.
More good news is that investors are coming back into the market. We need investors to help reduce the inventories. Once inventories go down, and demand goes up, prices can start to go up again.
The patterns are changing. Once the market stabilizes, we will see many more sales but we will not be returning to the pre-boom patterns any time soon. In many ways, this can be a good thing. Sellers will begin to depend on prices staying in normal range without spikes up or down and buyers will find more equity in values.
Aventura sales were up considerably in the last 30 days. One hundred and twenty five properties went into contract as opposed to only 31 sales the previous month. This is really great news!
Right now, there is a terrific buy in Golden Pointe, a waterfront townhome with a beautiful water view of the intracoastal, that sold in 2005 for $810k and is now listed at 750k and will look at offers. It is a desirable corner property with 2505 square feet, four bedrooms and a two car garage. An excellent family home in a unique and exclusive community.
Let me hear from you. Tell me about your home or the home you want to buy.