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Buyer competition for the realistically SW Florida priced properties is heating up as the best values in nearly a decade are being picked off quickly.  Many buyers who think prices will decline much further will likely be left out or forced to purchase foreclosed properties, which usually are in no where as good condition or need a huge amount of work, making them not so good values. 

While sellers who think the market prices will rebound in the next few year or months will  likely be in worse shape when they sell in the bottoming out stage (predicted until sometime in 2012-see below) or the long flat market stabilization stage. The stabile stage, which is likely to come after the bottom, lasted for 3-5 years in the last major slow market in the 1980's here in SW Florida. 

The market bottom as predicted below to be sometime in 2012 means a likely stabilizing market with little or no appreciation through 2015-2017, if the last major downturn is any indicator. Sellers need to educate themselves and decide if they believe these experts, and if they do, predict the date they think their home will be worth more than it is today.  

When they choose to live through that period of time with the property they own now, sellers might think through the costs and benefits of owning the property for that time so they can make the right choice for themselves and their family. 

Richard J. Adams P.A. a noted foreclosure defense attorney provided the information below in his latest industry newsletter.  The short excerpt below sums up the S W Florida real estate market pretty well and gives insight on what the experts who study trends today are saying about real estate.    

"In the first half of the year, foreclosures continued to ravage South Florida's housing market, with one out of every 30 homes experiencing distress, according to a report released Thursday by RealtyTrac. The Irvine, Calif., company predicted little change in the picture for the last six months of 2010 -- more than 3 million homes nationwide are forecast to fall victim to foreclosure this year, pushing home prices further down.