NEWS
 
November, 2 2012

Brickell condo market is booming with buyers who want in before prices go up
As the last of its distressed inventory is absorbed, the Brickell condo market is booming with buyers who want in before prices appreciate further. "What is happening in Brickell is exciting," said Ron Shuffield, president of EWM Realtors. "Distressed properties are evaporating, and with three new buildings that have sold out in preconstruction, that's a solid forward-looking projection." (...) When the market turned, said Edgardo Defortuna, president of Fortune International, "almost every new building had a significant inventory of units that were never sold. Now, pretty much everything has sold, and there are few units remaining." The effect of this rapid absorption is that prices are recovering soon than expected, he said. "At 1060 Brickell, units sold in the $240-$260 per square foot range in 2009; now it's going for $350 and up. Miami Today. Week of November 1st. 2012. Read complete story here: http://www.miamitodaynews.com/news/121101/story1.shtml
 
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