TopTenRealEstateDeals.com Reports New Florida Condo Boom
Summary
According to ZipRealty, a national real estate data service, the largest increases in U.S. home prices from the third quarter of 2011 to 2012 were in Phoenix, Arizona; Miami and Palm Beach, Florida.While there are several new condo projects underway in the Miami area, Walsh says that nervous builders in most of the state are afraid to jump back in the water with vivid memories of developer and contractor bankruptcies just a few years ago.Most new construction will not be completed for at least a few years when prices will likely be much higher as more baby boomers move into retirement, wealthy South Americans look for a safe haven for their money, and Canadians and Europeans gobble up the cheaper U.S. real estate.According to ZipRealty, a national real estate data service, the largest increases in U.S. home prices from the third quarter of 2011 to 2012 were in Phoenix, Arizona; Miami and Palm Beach, Florida.Most new construction will not be completed for at least a few years when prices will likely be much higher as more baby boomers move into retirement, wealthy South Americans look for a safe haven for their money, and Canadians and Europeans gobble up the cheaper U.S. real estate.