Florida Real Estate 2007

For several years Florida's real estate boom consisted of crowded houses and speculators flipping preconstruction condominiums. Since the market dropped out in mid-2005, sales have fallen and inventories soared. Property auctions and price cutting have become the way of selling and buying Florida real estate.

In Miami Florida the inventory of unsold homes in April was up 58 percent over the same period last year, but real estate brokers and agents say there are some Miami real estate properties that are still attracting buyers.

Smaller condo hotels in prime locations and large luxury condos are in demand. Prices for prime waterfront homes, including exclusive islands like Hibiscus and Sunset, which are favored by celebrities, are also stable.

For bargain hunters, Florida real estate is a chance not only to cherry-pick properties at low prices, but a great way to cash out in the future.

How would you like some
rental income?

Do you own a Florida condo real estate rental you only use part time? Why not rent it out to other respectable golfers like yourself and make some money while your at it.

Real Estate Markets In Florida

• Naples - Prices are generally holding for more desirable properties on golf courses or with waterfront access costing $500,000 and more. But bargains are available for houses below $500,000 because of a bloated inventory of standard two-bedroom, two-bath condos.

• Statewide- Condo sales fell 32 percent in March and single-family existing homes were off 28 percent compared with the same period a year ago, according to the Florida Association of Realtors.
• Jacksonville and Gainesville - Did not experience rampant overdevelopment, have not felt the impact of the downturn as much as has southern Florida, where high-rise condo construction was largely fueled by speculators.
  
  
• Sarasota- Held an auction in the city last month, 26 properties of the 90 being offered found buyers, including vacant lots for under $30,000 and condos in the $300,000 range. But high-end properties, like a $4 million gulf-front home, went unsold.