Has the cold real estate market in Florida just gone colder? Well as interest rates continue to rise there is really a possibility.
The weather for Florida's real estate seems to be gloomy, at least that's one source said in a study made by University of Florida, meaning it will may take a while for Florida locals to sell their homes in it's cold market. sources says that selling houses in part5s of Orlando may take longer, there has been warm air in one neighborhood in Daytona Beach that contrast the cooling case, Halifax River in Daytona Beach is new hot spot as reports says that investors in the area could become millionaires if given the chance in it's market.
Rumors of realtor's willing to purchase $400,000 homes for more than $1 million, an offer that can really make you think twice. The plan is to replace the homes there with multi-million dollar waterfront condos that could make the place look fabulous, still not everybody is ready to fall for the bait, as homes that are vintage circa 1920's aren't in the market for selling just yet.
Although some of the homeowners from riverfront have sold their homes, saying that the million dollar chance is really hard to pass up, there are still some people who wants to hold their property tight.
By: Dijon Wainwright
http://www.realestateportal.org/article.php?story=20060201164044231