We thoroughly enjoyed the rational discussion in the Sun Sentinel about the ebbs and flows of South Florida Real Estate.
While Rosenfeld Realty Advisors is a Commercial Real Estate Broker in Boca Raton, servicing all of Florida, it would be foolhardy to think that we are not directly or indirectly impacted by the residential real estate market as well.
What this article seems to point out is a far more rational response from the market in general to market conditions on the ground. The "Mania" that the market displayed over the last decade, in our opinion is inevitable to some extent, as everyone wants to jump on the bandwagon of a winner. The problem our markets faced was not optimism, but massive balloons based in manic buying, fed with cheap and unrealistic mortgage rates.
Redfin notes that South Florida had a very short term surge in prices, and that we almost immediately settled down again. Hearing that housing prices in Boca Raton and Ft. Lauderdale have declined slightly may sound like bad news in general for the boca raton commercial real estate market, but we don't think so
We are quite pleased to see an ebb and flow, small peaks and valleys as the market get's its groove. It is far more productive for our economy to have small frequent adjustments, that are not of massive magnitude, than to have massive run ups, and crashes.
Thank You Redfin and the Sun Sentinel and +Stan Humpries from Zillow for your excellent assessment of today's market place.
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