Expert Panel To Provide Assessment of Possible Double Dip In South Florida Real Estate

Aug. 18, 2010 - PRLog -- Dr. William G. Hardin III, Director of Florida International University's Real Estate Programs and Oliver Ruiz, Residential President for the Miami Association of Realtors® have confirmed their participation as panelists for the upcoming seminar, "Concerns Grow About Double Dip For South Florida Real Estate."

South Florida's residential resale inventory has increased by nearly five percent, or 3,300 properties, since May 31, raising concerns that a tricounty region could be headed for a double dip as more product comes onto the market.

For nine of the last 11 weeks, the number of single-family houses, condominium units, and townhouses on the resale market in Miami-Dade, Broward, and Palm Beach counties has increased, reversing a downward trend that had been occurring since the fourth quarter of 2008, according to a new report from CondoVultures.com.

As of Aug. 16, there are 68,503 residences for resale in South Florida, up from 68,254 available properties on Aug. 9, and 65,222 residences for resale on May 31, according to the report based on Miami Association of Realtors data.

A third local expert panelist who will explore the possibility of another residential market tumble will be announced soon.

Condo Vultures® founder Peter Zalewski will moderate the program.

The Condo Vultures® Seminar Series event will be held September 14 from 5.30 p.m. to 8 p.m. at the Miami Marriott Biscayne Bay Hotel on North Bayshore Drive in Greater Downtown Miami.

Please contact executive editor John Fakler at 800-750-0517 for more information.

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Condo Vultures® LLC is a Bal Harbour, Fla.-based consultancy and publishing company focused on collecting, analyzing, and communicating intelligence on the South Florida real estate market.