Vulture funds may lift real-estate market in South Florida - 09/21/2008 - MiamiHerald.com

I've consistently said that when the stock market is struggling that it wouldn't be long before we see the Southwest Florida real estate market pick up. With the bailouts of Freddie Mac and Fannie Mae and AIG, rest assured that some of the money that is in the stock market starts to show up in our real estate market.

As you can see from the graph, we are above average in sales for this year with an upward trend in sales growth. As we finish with our slow season, I would anticipate that we will see more buyers come in October-November to snatch up the pre-season values.

In the article, Victor Lopez, a former Hyatt development executive and current commercial agent, said .''The bottom fishers, if you will, have been standing around the sidelines,'' 'A lot of people out there are saying: `This is our time to get in.' ''

If he's right, it would be one of the clearest signs yet that South Florida's beleaguered real-estate market had bottomed, bringing the region closer to a recovery. If vulture investors are buying, the view goes, it's safer for others to start buying as well.

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Vulture funds may lift real-estate market in South Florida - 09/21/2008 - MiamiHerald.com