This posting references the wise words and thoughts of Ron Shuffield, EWM Realtors President
"As we enter 2009, it's important to note that while the changes to our residential real estate market during 2008 were unprecedented, the opportunities that are evolving today are equally compelling. When all is said and done, it’s hard to imagine that we will ever see again a buyer’s market similar to what we will experience in the year ahead. Opportunities abound to purchase all types of housing at prices that we didn't dream possible two years ago. But, we will still have to dig out the real values. 33% of the total Miami-Dade and Broward MLS inventories are now listed as short sales and another 10% are listed as REO properties. That means that we are at a point where our buyers are now finding exceptional values in almost 50% of our listing inventory. While 2008 was the year of "analysis", 2009 will be the year of a sharp increase in the number of homes sold. Our industry sold 43% more single-family homes and condos in the 4th quarter of 2008 than we did in the same period in 2007; and, we believe that we will continue to see many more sales in 2009 than we experienced in 2008. Our buyers are recognizing the values that we are now offering."
Ron Shuffield's thoughts on the credit situation and how it affected Real Estate in 2008 and what his predictions will be for 2009.
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