The Florida market is at a standstill. What do you think will get the market moving again?

In Market Conditions - Asked by Dennis N. - Jan 14, 2009
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Answer(s)

Brad M.
Broker/Agent
Eufaula, AL

Reduction in insurance prices, lower property taxes and property prices .

Jan 14, 2009
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Alan R.
Broker/Agent
Tallahassee, FL

Corrections by the Sellers to more realistic listing prices. Market pricing exceeded returns OF the investment for Buyers in 2005-2006, and with cap rates in the 7% range, the sales prices did not make sense. Cap Rates are still in the 7.5% range because of low interest rates in our area (Tallahassee), and, with prices coming down, commercial RE is looking attractive to investors again.

Jan 14, 2009
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Chris C.
Broker/Agent
New York, NY

Florida, in particular Miami, has always been a speculators market. Its no surprise that at present it has more than 2 yrs of inventory sitting vacant. That, coupled with high property taxes and insurance doesn't make it attractive to investors. Sellers in Florida need to wake-up and realize that its 2009 and not 2006. Until then, property values will keep declining in direct response to consumer sentiment. God forbid there be a natural disaster, then for sure values will plummet harder.

Jan 15, 2009
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Rand W.
Owner/Investor
Tucson, AZ

Much lower pricing and a loss of an enormous amount of inventory, either by more people buying them or a hurricane taking them out.

Jan 15, 2009
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Andres G.
Owner/Investor
Miami Beach, FL

Values will continue to drop through 2009 hold steady through mid '11 spike slightly a bit '12 by the beginning of Obama's second term Real Estate will return to the standard 2 - 5% appreciation.
NOW IS THE TIME TO BUY!!!!
Andres Garcia
305-496-1776

Jan 22, 2009
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