Wednesday, April 30, 2008
MIAMI - Housing prices in Miami are dropping down quickly; a real estate agent said "I sit on the computer everyday waiting for a new listing. There isn't much coming up but a lot going down, lot of homes on the market going down." The word "price reduction" is almost seen in every sign outside the homes, making it impossible to judge what is a good deal, especially when you see how much prices are plunging.
At the peak of real estate market in 2004, home values went up on average $1,000 a week. And this year the market is in a plunge and prices are dropping $1250 a week. A real estate agent blames the credit for the steady drop in prices and banks now demand 20 to 30% down. He said, "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
At the peak of real estate market in 2004, home values went up on average $1,000 a week. And this year the market is in a plunge and prices are dropping $1250 a week. A real estate agent blames the credit for the steady drop in prices and banks now demand 20 to 30% down. He said, "Unfortunately as much as the young people can afford the payments, which is a struggle, but more and more people can, it's hard for them to come up with the down payment"
posted by Real Estate Agent @ 5:46 AM permanent link | Post a Comment | 
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