What’s Ahead for Miami Real Estate

by Isaac Benmergui, Esq on January 13, 2012

The ups and downs of the Miami real estate market seemed to have leveled off and are on a slow and steady climb upward. So what’s ahead? Will the shadow inventory of homes still in foreclosure cause a repeat of the downward spiral or will casinos get the greenlight and foreign investors keep the market buoyed?

Prediction:  Prices will remain low. Although prices have increased the past year, they’ve yet to close in on the pre-bust highs.

Prediction: Foreclosures will slow down. With the crackdown on “robo-signing,” and paperwork now closely scrutinized and more than 100,000 pending cases, some of which have been in litigation for years, foreclosures rate will level off. But the 200,000+ homes that make up the shadow inventory could depress the market again as they become available for sale.

Prediction: The Rental Market Will Spawn Sales. As more families are forced to rent and the rental market gets a boost, more investors will gobble up existing homes on the market in order to flip them to rental properties. Last year saw a 95 percent rise in the rental market.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.


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