Real Estate in Miami Florida. Is Now the Time to Buy?

Donald Trump claims “now” is the time to buy property, if only it were that easy.  Many who still have the money to buy “now” can’t find financing. If financing isn’t stopping you, consider yourself lucky and look to South Beach. Right now in South Beach properties are being sold for way less than asking price.  Take, for instance, luxury building Murano at Portofino, located at 1000 S Pointe Drive in the South Beach area of Miami Beach. Where a penthouse unit with an asking price of $12,000,000 just sold for $7,600,000. The spacious three bedrooms, five and a half bath unit is just one example of what’s going on in South Beach, there are lots more just like this. The question is, when will the real estate market finally hit bottom? The question is tough to answer but it seems like buyers are moving towards the beach. Activity is gradually picking up, more inquiries, and more viewings, will sooner or later translate into more sales.