The Real Estate Mango

Are Real Estate Prices Still Dropping in Aventura?

Every day, I speak with someone who will ask me:

“When will the market go back to what it was before the bubble burst”?

or

“Should I wait until I can get the price that properties in my development were selling for in 2004″?

The answer is…

“We are not going back.  We are going ahead with the trajectory that we now are on.” The condos and townhouses and single family homes are selling at today’s prices, which means the price that a buyer is willing to spend at this particular time.  Everytime a foreclosure sells at a low price, it brings down all the prices in that building or subdisiion.  There are many foreclosures, now and many more coming down the pipe.

Prices are still on the way DOWN.  When they bottom out, we will be on the bottom for some time before they start to climb, again.

If you are thinking about selling at this time, look at the sales in that past three months (life comes at you fast) see how your home compares.

When Selling Your Home Consider…

• Make your home look as wonderful, as possible.
• Paint if it needs it, rearrange furniture to make it more appealing, take away personal items.
• Hire a home stager, if need be and then when you put it on the market, give it the smartest price, not the highest price.

Let me hear from you.  Tell me your particular situation with your property.  Leave a comment below on this post or email me and I will be glad to help.

This entry was posted on Friday, December 19th, 2008 at 7:02 am and is filed under Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply