Friday, August 04, 2006

"The worst real estate market in 20 years"This was what a local Realtor told me last week and it couldn't be more wrong. The Real Estate market in Vero Beach, FL has changed in the past year, but we are only down 30%. That may seem high to some, but we are coming off of the two best years in history and values of homes continue to increase even after 3 hurricanes in two years. With no uncertain terms we are seeing a shake up in the market. Asking prices not values are coming down and the buyers have several homes to choose from so they are not looking at every house on the market. Once this hurricane season is over and the buyers see that the values are continuing to increase and interest rates are going to continue to increase we will see record numbers again. With 75 million baby boomers retiring over the next 10 years we can't help setting records.

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