South Florida home values see nation’s biggest drop in a year. Yes, this is SOUTH FLORIDA, but we are not doing any better, just not big enough to get headlines.
"MIAMI – Aug. 10, 2010 – South Florida home values suffered the worst decline of 25 large metropolitan areas in the second quarter of this year, falling 15 percent compared with 2009, according to a national real estate report.
The data, released Monday by analysts at Zillow, found that the median home value in Palm Beach, Broward and Miami-Dade counties fell to $146,500, down nearly 7 percent from the beginning of this year and a whopping 52 percent from housing’s peak values in 2006.
Nationally, median home value, including townhomes and condominiums, dipped 3.2 percent from the same time in 2009"
AND THE “OIL BELOW THE SURFACE: “Zillow found that 44 percent of South Florida single-family homes with mortgages are underwater – real estate slang for owing more on a loan than the home is worth.”
TALK TO TED If you are sitting on an investment property, waiting for the price to come back up or if you have an “Over-Priced Turkey” listed way above what the Flagler Property Appraiser says is it’s “Just Market Value” you are making a mistake. ‘Talk To Ted’ about a strategic default or a for-sale-by-owner at the market price to limit your loss on this fast-depreciating asset.
2 comments:
i was comparing it to the data i have from the other months..it shows much difference
Thanks. Point me to your data. Us home owners need some optimism from somewhere
Post a Comment