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23 Sep 2012

Study Shows That Home Prices For Florida Real Estate Reached Bottom As Early As 2009

A recent study which measured sales for Florida homes concludes that the property
prices for real estate options within the state hit bottom in 2009 which is far earlier
than what a lot of experts have previously declared to be the lowest point for local real

The people behind the study were rather surprised to see that the price index pointed
at 2009 as being the bottom point for Florida real estate. However, 2009 was also a
time wherein investors had become increasingly interested in the opportunities that
were being offered within the region.

According to the price index, the sales price for real estate within Florida had gone up
by as much as 152 percent from January 2000 up until the peak of the property market
in November 2006. From then on, the sales price dropped 43 percent up until 2009.

Over the last couple of years, people who are engaged in the world of real estate have
been generally skeptical about the way in which median home sales prices are being
reported as reports seem to fail in providing a reliable measure for the rise and fall of
property values.

One noted flaw is the fact that median values can easily be influenced whenever large
numbers of distressed properties or luxury real estate properties have been sold within
any given month.

Florida will be using a new index which will combine data gathered from the Florida
Department of Revenue along with the prices of the same individual properties that
have been sold over time. As a result, Florida could very well be the only state which
will have its own standard price index measure. Nevertheless, many believe that the
measure is going to be far more reliable and much more accurate than any other index
used in the past.

Of course, people who are interested in specific areas within the region will want to
zoom in on regional values because there could be discrepancies if statewide values
are taken into consideration.

If you would like to learn more about the Florida real estate market situation, or if you
are interested in specific areas within the region, you are more than welcome to speak
with one of our knowledgeable real estate agents that can address your questions and
concerns in full detail.

Selda Kirkan
phone: +1.954.3056424