A new year, but not necessarily a new market

South Florida expert panel from left: Ron Kriss of Akerman Senterfitt; Bill Yahn from the Corcoran Group; Cynthia Shelton, president of Florida Realtors; Jack McCabe, CEO of McCabe Research and Consulting; Jay Massirman of Rivergate Companies

From the South Florida Web site: Most of South Florida’s real estate industry won’t be sorry to say goodbye to 2009. Once-ambitious developers saw their empty condos sold in bulk at deep discounts and unloaded incomplete projects in foreclosure auctions or deeds in lieu of foreclosure. Caving under the weight of their troubled commercial real estate portfolios, regional banks failed by the dozens. The indefatigable flood of residential foreclosures bestowed the courts with an unmanageable case load, clogging the system. For homeowners who managed to stay current on their mortgage payments, toxic Chinese drywall rendered many of their properties both dangerous and worthless.

But as the handful of hours left in this tumultuous year for real estate wind down, many are wondering whether 2010 will be any better. The Real Deal turned to a panel of South Florida real estate experts to find out what they’re predicting for 2010.  More