Aided by low interest rates and federal tax credits, sales of single-family homes and condominiums in South Florida roared during the first three months of 2010.
In Miami-Dade County, sales of condos jumped by 46 percent in the first quarter to 1,920 when compared to the same period of time in 2009. However, median home prices fell almost 10 percent to $136,100 according to numbers from Florida Realtors.
Real estate agents told CBS4 news partner the Miami Herald that buyers who were on the fence before are now signing contracts and renters are deciding to own their own place. Buyers had until April 30 to sign a contract to purchase a primary residence and until June 30 to close on it to qualify federal tax credits.
According to the Herald, fewer than 40,000 condominiums and town houses are now for resale in South Florida. Resale units in South Florida have dropped by 23 percent compared to May 2009.
Source: http://cbs4.com/CBS4yourmoney/real.estate.improvement.2.1689894.html
The Criscitos has been selling South Florida luxury and commercial real estate for over a decade and has sold over $1 billion dollars of property. They work as a multi-lingual team speaking english, Spanish, Italian and Portuguese. They carved out a niche as a leading boutique real estate company with two distinct divisions -residential and commercial- both personally overseeing by Marcela and Anthony Criscito.
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