| There is no question that the red hot
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| | that that they produce without taking all
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| south Florida real estate market is
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| | factors into account. It is easy to
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| seeing signs of cooling, but the idea
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| | publish an article bashing the real
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| that there is a bubble in the market is
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| | estate market, but it is not so easy to
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| exaggerated. The bubble talk has been
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| | undo the damage they cause. Some
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| created to a large degree by the media
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| | articles compare the MLS active and
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| with irresponsible reporting and lack of
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| | closed sales statistics from the month of
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| in depth research. There have been
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| | January 2004 to the month of January
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| numerous articles written that may only
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| | 2005. That makes it very easy for the
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| use one or two sources to gather
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| | reporter to create a large disparity in
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| information, and the rest is pure
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| | the number of condos or homes sold or on
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| speculation from a reporter with zero
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| | the market in 2004 compared to the
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| knowledge of the real estate market.
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| | numbers sold for the same month in 2005.
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| Most of these reporters have probably
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| | Once again, this boils down to
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| never been involved in any type of real
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| | irresponsible reporting.Another factor
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| estate transaction in their lives.
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| | not being taken into account is the
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| There are many factors that need to be
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| | recent trend of developer run resale
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| considered before making any kind of
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| | programs. These resale programs take
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| speculative opinions on the South Florida
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| | place when a condo project is sold out
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| real estate market.A recent article in
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| | and under construction and the developer
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| the Miami Herald said existing home sales
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| | begins to resell the condo units that had
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| plunged in South Florida as the real
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| | been pre sold one or two years earlier.
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| estate market continued to shift from
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| | These resales are not public record until
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| go-go to so-so. Nowhere in the article
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| | they close and thus are not factored in
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| did it mention that we had experienced a
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| | to the overall numbers of South Florida
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| major hurricane in October that brought
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| | real estate that has been sold. Due to
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| all business to a stand still for nearly
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| | the fact that these types of resale
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| a month. Many real estate transactions
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| | programs are relatively new (within the
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| that were set to close were delayed for
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| | last two years or so) most of these sales
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| weeks or months and some probably did not
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| | have not been recorded in the public
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| happen at all. If there is a gap like
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| | record. Developer condo resale programs
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| that in the real estate cycle for close
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| | are a very good thing for a couple of
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| to a month, the affects do not show up
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| | reasons. One, it weeds out investors
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| until a few months down the road, which
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| | that would otherwise have to wait until
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| would be roughly the month of January.
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| | closing to sell their condo and cause a
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| So it is no wonder real estate sales were
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| | flood of units on the market. Two, and
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| down for that month. Reporters and
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| | probably more important, is that pricing
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| editors should be held somewhat
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| | is controlled to a large degree.
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| accountable for the sensational articles
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