It’s safe to say that there’s still a significant amount of uncertainty when it comes to the Miami Beach real estate market. Thankfully however, things have been improving lately, for the most part anyway. Part of this improvement is the increased presence of short sales and improved relations between bankers and developers now that the idea of buying Miami Beach condos for less than what they cost when they were built doesn’t seem quite as absurd.
It’s true that some Miami Beach condos still sit half empty, a result of the “building boom” of the last decade. It may take a considerable amount of time for all of this excess inventory to be purchased but with short sales becoming the norm and many investors buying in bulk, the trend of improvement doesn’t seem quite as far fetched.
Even as Miami Beach has seen less business, the lights are slowly glowing brighter against the city skyline. Miami Beach real estate won’t be out of the woods anytime soon but it’s slowly but surely finding its way out.