As we’ve demonstrated in our previous post, the SW Florida real estate market is showing the first signs of recovery for single family homes. What lies ahead for the condo market?
We believe two things about the condo market:
1. The Pre-construction Condos in Toronto market will lag behind the single family market, as there is more supply and less demand throughout 2006, and many investors getting ready to close or bail in the over $300,000 range.
2. Now is the Time for Condos to Shine with condo renovations Edmonton. Condos are more seasonal, and sell much better Jan-April. We believe this year will be significantly better than last season. After season, we’ll sit back and analyze how much of a dent buyers made into inventory.
We expect single family homes to steadily improve from here on out as buyers wade back into the market, and sellers who want to sell become more realistic as to prices required to reach those buyers. Many sellers have made the adjustments, and buyers have responded.
Many are optimistic about the Downtown Riverfront District condominium market. We are not. We don’t buy the hype that most who have bought downtown are there now to live there. We believe most are investors, and that is one segment of the market that is and will be a Blood Bath. You can’t stereotype the overall market, and if we could we’d say overall we’re positive about the overall market going forward. We can segment the market, and when we do the Downtown Riverfront market is one segment we’re concerned about.
Earlier this year we talked on our radio show about the difference between a Market Correction and a Crash. Our next article will explain the difference, and the uncanny results.