The Real Deal Miami

House price to drop $5,000 a day

February 09, 2009 11:16AM

Lantana resident Bob Montgomery’s search for the bottom of the real estate market is a highly personal quest: He’s dropping the price of his house $5,000 a day until he finds a buyer. He listed it January 31 at $1.7 million, and by last Tuesday, had cut it to $1.68 million. The two-bedroom waterfront home has a Lantana address but is on Hypoluxo Island, which runs north and south of Ocean Avenue in Lantana. Montgomery owns Ocean & Intracoastal Properties in Lantana.