How bad is the real estate market?

Want to know how bad the real-estate market is? Just drive down almost any street in the U.S. and you’re likely to see "for sale" signs lining the road. Come back a month later and it’s a good bet the same signs will still be there — and quite possibly a few new ones, too. But while there’s a lot of housing pain, there’s also some good news. That’s because in some markets across the country, not only have home values improved, a few have even seen double-digit growth.

So where is this miracle occurring? Believe it or not, the city that has seen the biggest increase in home values is in Florida. That’s right — the state that has seen home values plummet 52.3% from 2006 peak levels. Nearly 96,000 loans were modified in Florida through August 2011 under President Barack Obama’s Making Home Affordable program. Joblessness, foreclosures and high inventory hamper recovery in nearly every corner of the state, with rare exceptions. In this case, the rare exception is Weston, a high-income city of more than 65,000 people near Fort Lauderdale where the median home value has risen 15.1% to $280,000 from February 2009 to August 2011.

The good news is that you can actually find some very good deals right now in Florida and other states around the country. We highly recommend that if you can buy now below the current market, you are going to fare well in the long terms.

For more info contact Edward E. Cambas, Buy & Sell Real Estate Services, Inc at 786-200-8817. An Equal Housing Opportunity.