Condo crunch in S. Florida good news for bargain hunters -- -- South Florida Sun-Sentinel.com
Some exerpts taken from this article :
"The glut of condominiums for sale in South Florida is attracting a legion of bargain hunters.
Out-of-state and international buyers are descending on the area in search of deep discounts as prices continue to crater. They want to get in now and wait out the housing slump because they think the region remains a powerful long-term draw.
Flush with cash, buyers from Italy, Germany, England, Spain and other countries are scooping up condos
Amit Bagaria, a real estate executive from Bangalore, India, spent two days this month scouting for deals on behalf of wealthy Asian families. He's eyeing new buildings in Fort Lauderdale and Miami with condos priced from $400,000 to $1.5 million.
The rock-bottom prices also are luring buyers from within the United States, particularly the Northeast.
Austin Regolino, a semi-retired real estate executive from the Boston area, took advantage of plummeting prices when he bought recently at the Sea Ranch Club in Boca Raton."
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