“Suddenly everything falls back into where it were before” That is the passage my friend told me when we were discussing about Miami’s Luxury real estate market situation. We both are aware that it is hitting a downfall over the last few months and indeed it is showing its fragile side. Even the rich people are already ailing to what seems to be a real estate market meltdown. I have to agree on some points that cooperate with the idea; every market now is on the slide thanks to the nationwide crisis.
I told my friend that Miami’s number isn’t that bad when it comes to Luxury real estate the waterfront properties are stable although he did point out that many wealthy people are discounting their mansions with cutbacks he said that he knows a famous celebrity who decreases almost 14% on the price of the property they are selling. At first I though that it is nothing but when you think about it, 14% is a big number when dealt to millions, since Miami is still one of the most desirable, if not, place to live in Florida, I come to thinking that it might be better to take a closer look on it.
For most people the Luxury real estate market especially in the Miami area are the ones that they think will never going to be shaken. But lo and behold it is showing signs as early as now. People tend to look at this as a bad sign, a sign of unstable market or a sign of a hot and cold weather when it comes to real estate forecast. It is even unfair to even treat it as that, so my judgment is that the availability of the market’s numbers is the basis of the people’s thoughts. Unfair but it’s the way it is we can’t change that not a bit. But for me Miami Luxury Real Estate is still what they are to my eyes. The numbers maybe directing on the other side of the road but if you base it on the potential of the market; well you will be surprised what it can offer.
In my eyes I know that the market has its standards and I know how to understand figures and I know how to consider the numbers in the market, thus making it a must for people to invest in such market with nice numbers, I know that in time we’ll realize what potential lies on the market itself even if the numbers are going in the other side of the fence the basic thought is that Miami is Miami, it’s luxury real estate has potential and it is good I think, what me and my friend are arguing about is about in the same fence anyway. So I think I will reflect on what I believe in, numbers are just figures and it will not affect the resources, the potentials and what the city can offer.
Jron Magcale
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