Just thought that you'd might like to know that I've noticed
a small change in the Country Club of Miami these past few weeks. There have been at least four price
reductions of on market listings in the neighborhood. Now this is not necessarily a cause for alarm,
yet it is indeed an indication that the local market may have gotten a little
ahead of itself. The recent interest
rates increases could bear some of the blame, and the imbalance of supply and
demand that's driven the double digit increases over the past 18 months seems
to be easing. One of my colleagues that
works in West Broward has also noticed this in his local market. That being said, I feel that we're on the cusp
of a return to a more balanced market with historically conservative appreciation
levels , heading towards a phrase I coined in 2009; predictable equilibrium. Here's
where I wrote about this back then in my blog: http://bitsaboutrealestate.blogspot.com/2009/07/predictable-equilibrium.html
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