If you've been reading this blog for a while, you know that I visit my sister and her family every winter for a week or so. (summers here are impossible for this Northern California gal.) I am always curious about the local real estate market here.
Florida has been one of the earliest and hardest hit markets, because of both the general economic situation, and overbuilding, especially of condos in the beach areas.
I had been reading about 'packaged" purchases of large numbers of these properties by foreign investors, and I wondered if it was impacting local values.
My sister's attractive suburban single family home in Lake Worth (3 bedrooms, two baths, "Florida " room, and large lot with a pool) had reached a high of $400,000 three years ago, and is now worth about $175,000.
I'll be writing about local real estate for the next week...some contrast to the Bay area!
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