Now you can afford to live downtown Miami!

Home values continue to slide, therefore now you can find bargains you never believed were possible.

The Miami condos on Brickell are at your reach, in 2008, 70% of the closing were below $300,000. The one bedrooms at the Ambassador were as low as $79,000!!!

There are about 2,700 Miami condos on the market, the sales are about at a rate of 330 renting and 70 selling.

Yes the prices are still falling, but we started to see the bottom in the Miami real estate market, with great deal not only regarding the condos, but also for Miami Beach homes and South Beach luxury villas!

Condo prices will level out, but the volume will decrease

It looks like that the crash of the South Florida’s condos will be over by 2010, with a stabilization of the prices.
In the Miami-Dade County’s real estate market, average new condo prices will increase slightly this year, reaching $346,000. Unfortunately, the closings will continue to fall through 2012.
For what the existing condos are concerned, their prices will tumble around $ 90,000 this year and hopefully will level out in 2010 and 2011.

U.S. Home Sales, Miami Beach Real Estate

Foreign Buyers Lured by U.S. Home Sales

Attention on South Florida real estate is heating up from foreign investors thanks to falling home prices and the weak dollar.

As investment opportunities, foreign buyers have always been interested in certain U.S. markets, such as high-end Miami Beach real estate properties as well as properties in Manhattan.

However, professionals in the real estate industry have reported increased international interest in a much larger range of properties; from $60,000 single-family homes in South Florida's inland neighborhoods to $1 million waterfront villas located just miles from the Canadian border in Washington State.

Full Article...US Home Sales, Miami Beach Real Estate