This article, from Channel 4 News out of Miami, shows us something that is inevitable, and bound to happen: that which goes up, must come down, and that which goes up really high and fast, must come down really low and fast, and again, that which comes down really low and fast…is seen as a great opportunity for investors!

It appears that with the continual decline in the Miami condo market (perhaps one of the if not the worst hit real estate markets in the country), investors have been watching and waiting for the opportunity to get back into this market. Like when gold drops to below $300, or oil below $55 per barrel, when condos in good locations drop to very low numbers, the investors re-enter the market. I suspect this time though, their reasoning is much more sound. Eventually commodities get so low in acquisition price, that savvy investors seem to simultaneously think, ‘opportunity’!

One complex alone has sold more than 120 units in 6 weeks time.

I have been seeing something on a much smaller scale, but yet somewhat similar in the Southwest Minneapolis, downtown Minneapolis and Uptown Minneapolis condo markets: Very low pricing (primarily due to short sales and foreclosures…due to a condo glut thanks to overbuilding and apartment conversions), and now somewhat of a buying frenzy for condos in good locations, under $150K. Howver, most of these buyers are not investors, but smart first-time homebuyers.

Either way, it is good to see them being bought, which to me is one more indicator of an at or near bottom for the lower-end, or ‘chaff’ markets.