It is reported that right now, around 50% or so off the peak sale volume, which mirrors the last downward real estate cycle that was way back 1986-1991, when we were at 55% off the peak sales volume at its lowest point. So developers reacted more quickly to this current market. This bodes well. The only exception to this may be certain pockets of the condo market, which Dr. Fishkind didn't get into in much detail. Housing starts have slowed down at a faster during this downward cycle than in the one in 1986-1991. Also Miami-Dade County employment numbers still strong, Locals need a place to live as well and have a big impact on the real estate market, even in second-home-heavy Miami. And the employment growth was still strong in 2007 with 11,500 new jobs created, as compared with 13,200 in 2006. And population grew at a strong 15,000 in 2007.

There are few reports that high energy prices hurting second-homers that would otherwise buy in Florida; we all know that the high energy prices tend to impact a larger percentage of the states east of the Mississippi River. And when their economies are not doing as well, people from those states don't buy as many second homes here in Miami. This is something to continue to watch as the energy problems play out this year. A side note about the South Florida and Miami rental market, will Miami rent prices decline? Well I believe the answer there is yes but as developers and capable 2004-2006 individual investors refuse to sell at a loss, and as wholesale investors gobble up large numbers of units from banks and developers, they will all rent out their units and wait for the top of the next cycle in a few years.

So, with that being said I believe that the movement of the market will be in good flow. There are other factors to consider but right now, those are the main things that make me decide that the Miami estate market will be in good faith. Let us erase the mentality of believing the hype and eventually getting swallowed by it. At least let's forge some insights on whether it'll be healthy for the market to go on in this state. The future looks nice.

Jron Magcale

http://hometerra.com/home.php

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

California Home Equity Sales Contract Act - A Mine Field for the Unprepared!
When I first got started in the real estate investing business in 2006, the avalanche of foreclosures was just beginning. Before attempting my first short sale here in Southern California, I discovered I needed to comply with Civil Code Section 1695 by using a very particular type of purchase and ... more...

The Coachella Valley Housing Market
The figures relating to declining home sales in the Coachella Valley as summer begins and temperatures rise do not look good. But as with all things, even poor figures in a strong housing market make for headlines, but have little affect on reality. Here are the latest figures. First, the Statewide ... more...

Fixing How Real Estate is Sold - The Time for Change is Now
The government has confirmed that which nearly everyone in the country already knew ? the median price for homes has fallen all over the country. That's not news for the countless number of home sellers who are facing severe crises due to the length of market time. When the fallout of this market ... more...

Third Quarter Real Estate Market Report
Third Quarter Market Report Challenges, Opportunities, and Surprises, Oh My! Someone named Anonymous once said, "Many an opportunity is lost because a man is out looking for four-leaf clovers." That quote seems to sum up the real estate market - buyers seem to be looking for some sort of incredible ... more...