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September 2013 Archives

Real estate responsible for sharp increase in economic growth

People have flocked to South Florida for years because of the beautiful weather, an excellent cultural mix and, of course, the nightlife. But, according to a recent report, there may now be yet another reason for people to be attracted to the South Florida area: economic growth.

Residential development begins to show results

Many of our South Florida readers have probably noticed an increase in the construction of residential property in the local area over the last few years. When investors saw what they perceived to be the last of the hardest times of the housing market and the start of a rebound, it seems like they could not sign off fast enough on land development deals. Now, according to a recent article, Palm Beach County is seeing one of the early projects reach completion.

Good news for real estate buyers - more inventory available

Many prospective buyers in South Florida have found themselves in the following scenario in recent months: they have found the house of their dreams, they're ready to put in an offer and then they find out that there are already several other offers on the home. After years of doom and gloom in the national real estate market, South Florida became a hotspot for real estate transactions over the last several months - one of few in the country. However, inventory of residential property in the area, by national average standards, has been pitifully low. Sales prices have shot up increasingly as well. The result has been the scenario outlined above: bidding wars.

Cash sales are everywhere, but what role does foreclosure play?

Anyone familiar with many of our previous posts knows that the South Florida real estate market is presenting both property buyers and sellers with unique positions. Unlike many areas in the country, the South Florida market is red-hot and seemingly only getting hotter by the day. But is there any downside to the feeding frenzy that seems to have engulfed property in Broward, Miami-Dade and Palm Beach County? According to a recent report, there just might be.