Nearly one in five home sellers in the city of Miami reduced prices in August, according to a report released Wednesday by real estate search firm Trulia.com. The average reduction was 10 percent, according to the report, which tracked the nation's 50 largest cities.
Miami recorded a total of $123.8 million in home price reductions in August, the report found.
Nationally, price reductions have increased for three months in a row, totaling 26 percent of all properties for sale. Home sellers have slashed prices by more than $29 billion since July, Trulia found. The average reduction nationally was 10 percent, or $33,892, in August.
Trulia's report does not include foreclosure properties, which make up less than 10 percent of properties listed for sale in South Florida.
Source: http://www.miamiherald.com/2010/09/15/1825376/miami-home-sellers-cut-prices.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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