Miami Real Estate always has an inconsistent forecast on them for reasons I can't even think of. It's really hard to know better yet to predict the forecast on what Miami Real Estate will be, simply because it comes to the territory. In recent years the sum of the sales and rent of the real estate condos and homes have rose then dipped made it to the middle and sometimes maintained an average line. But for this year, experts such as Jack McCabe, a well-known industry analyst predicts that the Miami Real Estate will have a crappy future to look forward to. It is not certain but experts always make strong points.

Reality is that nothing is consistent in this world. Everything moves, the only constant thing here is changes. So as we break down Jack McCabe's analysis and prediction on this year's real estate forecast let us take a moment on dealing with such great common sense that Miami, even though is considered as one of the famous cities in the nation also suffers from unkind winds.

So, without further ado here are 3 of Jack McCabe's predictions for Miami Real Estate this 2008:

Home prices will fall by at least another 15%. - It is a given, the common thought on this is that home prices never had a smooth sailing progress in the Miami-Dade area. One time it will rise the next is it will fall a 15% dip is expected but nevertheless it is still out there on the waters to fully certifies that the dip will be that high. Of course over the years the inconsistencies of home prices are very much documented but for this one, I may have to see this to believe it. IT is still early and changes are still imminent.

Individual foreclosures will increase 300 percent from last year, when they already soared. - According to some sources, statistically wise this is a possibility. Just look at what happened last year. It is known that while the other market is getting some sonic booms, the individual foreclosure is also taking its step on booming in a way. 300% increase, will likely going to make you call your realtor and check on those mortgages, you don't want to be a part of those 300% would you?

About half of all new condo buyers will walk away from projects by the time they reach completion. - If this is somewhat close to reality, if I were the condo broker my heart would be broken, seriously it is such a big number to consider, although statistics shows that the condo market is doing relatively good, it is still not a sure thing to assume that it is as good as what the papers read. Although it's too good to be true on the eyes of the critics it may very well get a certain truth on it because the truth of the matter is condo buyer's changes their minds once in a while and it's a suffering truth.

So those are just tidbits on what expert Jack McCabe have for us in terms of Miami Real Estate this year, he still has some more predictions in which will be tackled next time. For now those numbers that McCabe have mentioned can be close to the truth or just a figure that he throws for us to analyze, although it is only a prediction it is always the best for us to be cautious on what our market has so that we won't be on the losing end.

Jron Magcale

Miami Real Estate Services

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