""We're seeing a highly polarized market, with sales moving either in the lower price-tier markets that are affordable for most buyers or in the high-end markets where cash buyers make up about half or more of the sales.""
""Barely 1% of the nearly 2,400 condominium buildings in Miami-Dade, Broward and Palm Beach are approved for Federal Housing Administration loans, according to the U.S. Department of Housing and Urban Development.""
The Golden Key Condominiums in Bay Harbor Islands have successfully navigated recertification and new regulations while maintaining affordability. Despite rising prices in high-end condos, the general sales of condos in Miami-Dade and Broward continue to decline, attributed to difficulties in financing, inventory shortages at lower price points, and increasing costs. A recent report shows a polarized market, with contrasting trends in lower and higher price tiers. New legislation aims to provide financial relief to condo owners through extended inspection deadlines and other measures.
Read at Miami Herald
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