The folks bidding up Florida home prices from 2000 to 2005 included a lot of wealthy snowbirds. Today, average Florida home prices compared to average personal incomes in Connecticut, the richest (per capita) state in the union are still out of balance.

Although prices have dropped somewhat, and will continue to decline throughout 2008, many real estate experts suggest that it is still way too early to go bargain hunting although there is always the occasional deal to be found.

With markets varying enormously from property to property, it’s important to view individual property prices within the context of a generally overvalued, or generally undervalued, market. Properties with the most scarcity value like prime Florida waterfront property usually hold up best in a slump. Contrast that with areas with little or no scarcity value at all.

Visiting the Boca Raton FL community? Contact Realtor® Caesar Parisi for information on buying or selling a home or condo in Boca Raton Waterfront Real Estate.

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