I know we’ve all heard that the housing crisis was over before but the jitters in the credit markets was an unexpected event that exacerbated the over supply in the year following the housing slump. Southwest Florida began to soften in 2004 following the active hurricane season and the housing market peaked nationwide in July 2005. The effects of almost 4 years of declining home starts, the run up in prices that led to the affordability crisis and the credit crisis, have all helped to bring down the costs of real estate substantially! Naples, Bonita Springs, Estero & Fort Myers has many great bargains that in many cases are even below the construction cost.
So, why is the true bottom here and now an opportune time to purchase real estate?
See the article on the market indicators at http://online.wsj.com/article/SB121003604494869449.html?mod=WSJBlog
Tuesday, May 13, 2008
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