Downtown West Palm Beach Condo Market Update

Nov. 30, 2010 - PRLog -- I hope you are all doing well and my message finds you all in good health and spirit.
Normally when I write these market memos I am inclined to jam them with information.  “Long is intelligent, no?”  I’ve had the concept of this memo bouncing in my brain for over 2 months and I have not been able to get a grasp on exactly how to convey my message in detail and now that I am writing this memo to you I realize it needs no in depth description, or long drawn out explanation of why.  It just needs to make its point.

The Price Pendulum of The Downtown West Palm Beach Condo Market

First, picture a pendulum in your mind.  Seriously, please take a moment and visualize the Downtown West Palm Beach Condo Pendulum.

Downtown West Palm Beach Condo Pendulum
The undisturbed resting point (center) of our pendulum is called the point of equilibrium.  For this exercise we deem this point of equilibrium fair market value where supply and demand is natural.

Circa 2003 the pendulum began its cycle by moving in one direction towards appreciation via increased demand based on easy lending standards.  Looking back at that time I feel it’s fair to say that demand was strong or dare I use the word ferocious.  Therefore we can conclude and visualize our Downtown West Palm Beach Condo Pendulum swinging very far away from the point of equilibrium (fair market value) towards peak appreciation circa mid 2006.

Then our Downtown West Palm Beach Condo Pendulum began to travel back toward its equilibrium point (fair market value) and in my opinion reached it around summer 2008 just before the financial meltdown on Qtr 3/Qtr4.
Since summer 2008 our Downtown West Palm Beach Condo Pendulum has been on the cycle of depreciation (properties selling below natural value) and it is my absolute opinion that it is nearing its pinnacle point prior to its return to the point of equilibrium (fair market value).

I believe this is a very simple explanation of my perception of the Downtown West Palm Beach Condo market.  If I’m you right now I think my question to me would be something like this.  “Anthony, what makes you so sure you know where the point of equilibrium a.k.a. fair market value is?”  This answer is a bit more detailed and breaks away from my goal of a short market memo, but the short answer is based on me knowing my Downtown West Palm Beach Condos and knowing my buying customer.  If you are serious about real estate in the Downtown West Palm Beach area as a buyer, seller or just concerned member of the community it is my privlage to share my thoughts with you anytime.  888-888-2814 rings right to my cellular, anthony.pizzarelli@corcoran.com is just as good if not better and the contact form on this website is the best way for us to connect.

If you have an opinion, question or comment you’d like to share I encourage all of ya’ll to leave comment on the page I posted this to on my website http://southfloridaluxuryrealestate.net/downtown-west-pal...  and start a dialoque.  It would be great to have a conversaton where we can all share or experiences and perspectives so please take a moment and leave a comment below.


@ the same time if you're in the market I encourage you to check out these Lucky 21 Top Picks in Downtown West Palm Beach Condos as chosen by myself Mr Downtown West Palm Beach Anthony Pizzarelli.  Priced from $89,000 to $11,690,000 in all your favorite buildings like a One City Plaza Penthouse, Two City Plaza, Trump Plaza, The Slade, Flagler Pointe, Placido Mar, One Watermark Place Penthouse, Waterview Towers, Esplanade Grande, Cityplace South Tower and the Courtyards at Cityplace.

http://southfloridaluxuryrealestate.net/wpb-condos-for-sale/


Best Wishes,
a.
anthony.pizzarelli
888-888-2814


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