Homeowners Waiting For A Real Estate Upswing

MIAMI (CBS4) - Throughout 2007, there have been reports of how South Floridians have been overwhelmed wth high property taxes and insurance rates, all happening in the midst one of the worst housing markets to hit South Florida and the U.S.

Families like the Bozas want to start a new life in South Carolina if they can sell their Cutler Bay home.

“It’s been pretty difficult. I’ve had only one person call, explained Adele Boza.

The Weisses have had their Pinecrest home on the market for months. They said they’ve
had several open houses but very few people have come by.

Some call this struggling housing market a slump, others feel it’s a crisis. Veteran realtor Hazel Goldman, who’s been selling real estate in South Florida for 30 years, said the market is simply a challenge that does have an end in sight.

She believes the slump is nearing its end.

Hazel Goldman said, “I think it’s going to be a very strong year. I think there will be less buyers on the fence, and more buying rather than just thinking about it.”

Goldman believes buyers will become more confident as early as next spring and prices will remain low, especially for condominiums.

She offers some advice in trying to sell property under the current strained conditions.

“There is a buyer for almost everything we have out there… if the seller is realistic and in tune with the competition and what they have to do to get the property sold. ”

Realtors say sellers should be realistic, make a home ready to move into for a buyer, and continue to drop prices.

Homeowners Waiting For A Real Estate Upswing
by Natalia Zea | CBS