The Good: Shop Miami Beach is the fun event coming this weekend to Miami Beach. From 12 noon to 8p.m. on Saturday and Sunday a tent will be set up on 21 Street and Collins Ave. with more than 30 retailers selling clothes, accessories, watches, bags, and much more. There will be a DJ, bar, giveaways, and toss in everbodies favorite 4 letter word SALE and you’ve got yourself one fine event!
The Bad: Our home listed at 5237 La Gorce Dr. was reduced from $915,000 to $869,000 yesterday. Why is that bad? It just shows prices are still weak and price is still the big factor in bringing the buyers around. We are selling bricks and mortar! I know its location, location, location but now its price, price, price! But its a great house (4 bedroom, 3 bath, pool, impact windows)at a great location at a great price, so don’t miss out!
The Ugly: Banks repossessed more than 24,000 South Florida properties in the first 6 months of 2010. Thats about 4,000 repos per month which represents an 83% increase over the first 6 months of 2009. In Miami Dade County there was 1,800 repos per month, an increase of 125% compared to 2009! Yikes! But wait, an implementation of the online foreclosure auction system is partly responsible for the spike. It allows more properties to be auctioned off each month. If you need help with selling before it gets to that stage, give us a call. We have closed several sales and short sales over the past few months. Remember, ” Experience is Priceless“.
2 comments on “Miami Beach Real Estate:The Good, The Bad, The Ugly”