Buyer, investor opportunities available in South Florida
April 15, 2009 02:03PM
Buyers in downtown Miami are now competing with investors in a market where the economic collapse has created opportunities. There have been 23,000 new condominium units built in Miami since 2003, CNBC’s Michelle Kosinski reports, and 37 percent of the condos are now for sale. She profiles a few units offering deep discounts, such as one with an 81 percent price cut and another with a 53 percent price cut. Area real estate experts say the bottom has been reached for single-family homes and high-end homes, and some hope recent price increases mean the bottom has already passed.