Short Sales on Ft Lauderdale Beach

We've all heard the news that the banks are holding that "shadow inventory" and will be releasing a barrage of properties sometime in 2012.  According to a recent article in the Sun-Sentinel, banks are holding those properties off the market with an eye to increasing the prices.

Currently, of the 300 condos listed in the Ft lauderdale Beach area, only 7 condos are listed as short sales, one of which is a penthouse listed for $7,499,000, and 3 units are listed as foreclosures.  Of the 55 single family homes on the market, four are listed as short sales, and there are no homes in foreclosure.

So to the question"Is now the time to buy" - I'd say yes.  If you are considering buying, now would be a good time to get in the game.  And if you are a seller, think about listing now, ther are buyers out there just waiting for property.