http://www.condo.com/Community/UserBlogPage.aspx?ID=97411Michal Bibr's Blog, Courtesy of Condo.comen©2009 US Condo Exchange, LLC.Mon, 16 Feb 2009 20:54:35 GMTMon, 16 Feb 2009 20:54:35 GMThttp://www.condo.com/Community/UserBlogPost.aspx?ID=2617d82ef59a-e1a7-45a9-81d2-7c1fd606178dMon, 16 Feb 2009 20:54:35 GMTYou can see a 57% decline in value since November 05 while renting psf is remaining flat.
In this market, and especially in Miami, we need compare real estate values to income a property can generate. Considering that historically cost of owning has been slightly higher than cost of renting, then in regular market, a 15-20% premium over the cost of renting assuming typical financing costs will help you derive at the market value of your property adjusting for other variences. ]]>