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Fifty Cents On The Dollar Is Not Good Enough
Posted on April 21, 2008
Reuters reports on Florida. The surprisingly healthy market for oceanfront mansions and palatial condos in Florida, one of the most toxic states in America s housing meltdown, may finally be showing some cracks. At a recent luxury property auction in Fort Lauderdale, the auctioneer took home after home off the block within moments after opening the bidding when nobody made an offer. On one high-rise condo in the Miami enclave of Williams Island, a 3,100 square foot penthouse previously listed at $5.6 million, he opened bidding at $5 million, lowered his price to $3.5 million, $3 mill...
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