Any of our readers who are familiar with our previous posts probably know that South Florida -- and in particular Broward County -- is an area of the country that is currently an exception among other downtrodden real estate markets. While statistics for the housing market nationwide continue to show stagnation, most of the figures pertaining to the South Florida housing market are showing a relatively robust rebound.
Broward County residents thinking of entering the residential real estate market have probably heard about home prices dropping throughout the nation in February, the latest month for which numbers have been reported. February marked the sixth straight month of home price declines.
The good news for the South Florida real estate market continues. Recent reports from the Commerce Department revealed that single-family home and apartment builders throughout the country requested 747,000 building permits in March, the highest rate seen since September of 2008.
Another South Florida condo-hotel is scheduled for sale on March 14 at a foreclosure auction in Fort Lauderdale. The sale of the property was ordered by the Broward County Circuit Court as part of a foreclosure judgment filed against the developer by the loan holder. The property was once linked to the famous real estate tycoon Donald Trump.