Speculators drove up the home prices in Florida in 2004, 2005 and the first quarter of 2006. Suddenly the situation changed dramatically, as many experts had predicted. Many speculators and even Realtors^® did not believe in a market change and brought the same arguments you heard during the DOT.COM bubble.

Prices came down in Florida. This does NOT mean that every seller reduced his or her listing price, some even today ask above the 2005 prices, which is unrealistic. Other sellers have to sell and list their properties at the market or slightly below.

You find very similar homes in similar locations listed for about $ 200,000 and for $ 400,000. The owner who is asking $ 400,000 might even believe that his (or her) asking price is really low, as they paid a couple of years ago over half a million.

You need a Realtor^®, who knows the local markets and is working as a professional in the real-estate market for many years and has seen up and down markets.