Where Are Home Prices Bottoming?
Miami made the list again which I like to include Fort Lauderdale and Palm Beach counties in this too, South Florida in general. I don’t know if I would say that we are bottoming or hit bottom, I will say there are so many great deals in South Florida and once prices do bottom out you are going to see a little bit of a jump in value. That is once more of the normal sellers start selling since the bulk of sales are foreclosures and short sales.
I just feel that homes are artificially deflated where as a couple years ago they were artificially inflated. There are bidding wars going on in South Florida, a lot of cash buyers which in my opinion would mean investors, and most importantly it is affordable to buy a home now.