Confidence Grows among Luxury Oceanfront Real Estate Buyers in Miami and Palm Beach

August 2, 2012

Zillow’s Home Value Index shows great signs of improvement. The index rose in the second quarter for the first time since 2007.  According to Zillow, there is a pattern of price increases that indicate the real estate market has hit bottom. Zillow is a home and real estate marketplace with information concerning homes, real estate and mortgages.

“After four months with rising home values and increasingly positive forecast data, it seems clear that the country has hit a bottom in home values,” says Zillow Chief Economist Dr. Stan Humphries. “The housing recovery is holding together despite lower-than-expected job growth, indicating that it has some organic strength of its own.

You can purchase a luxury oceanfront condo in Palm Beach and Miami for millions less than you would several years ago. This is a great time to buy luxury seaside property. This is good news for luxury oceanfront property sellers as well. If you’re looking to make a quick sale this is the time to do it. Interest rates and prices are so low that people who wouldn’t normally be on the market to purchase a condo on the beach in Miami can’t resist the opportunity.