The Real Deal Miami

Let’s make a deal… for 13 percent less money

March 19, 2010 10:35AM

Since 2009, 23 percent of homes in Miami-Dade had to cut prices to find buyers. The
trend, according to spokesperson Ken Shuman, seems to be that
owners overvalue, then overprice their properties. Last year, once
sellers realized the prices were too high, they quickly cut prices,
sometimes by tens or hundreds of thousands. Miami-Dade sellers cut
prices by an average of $69,653 from the original asking price, with
average Broward drops coming in at around 53,375. [Sun Sentinel]