ONLY GOOD NEWS-AGAIN
FAR (Florida Association Of Realtors) has just released its data for the period ending October 31, 2008. Housing prices are the lowest in four years. Compared to October, 2007 prices in Miami-Dade County have dropped thirty percent (30%)!!!! October was the third month in a row where falling prices led to increased (23%) sales of existing single family homes. The median price of a single family home was $246,800 in October.The President of the area's largest brokerage said that "People are seeing prices they will never see again...." 63% of all listings have an asking price under $300,000.

Talk of funding not being available is nonsense. Ditech is advertising all over the television. We can get 95% financing for qualified buyers. It is true that 100% financing to unqualified buyers and or buyers who refuse to substantiate income is not likely. However, a good to excellent credit rating and cash availability for the down payment and closing costs will get you the home of your dreams. Don't forget that the only time you will know that the market has hit bottom is after it starts to climb again..