UF: Florida real estate market has hit bottom

UF: Florida real estate market has hit bottom: "UF: Florida real estate market has hit bottom
GAINESVILLE, Fla. – April 29, 2010 – Florida real estate markets show the first tentative signs of recovering from the most painful recession in the state's history, according to the latest University of Florida (UF) report.

'Results of our first quarter survey indicate that the real estate market in Florida has hit bottom and is in the process of stabilizing across most property types,' says Timothy Becker, director of UF's Bergstrom Center for Real Estate Studies.

But while most of the survey respondents report the market probably won't get any worse, few say it has actually begun to improve yet, Becker says. 'One of our respondents summed it up by stating that 'if anything, we will get less bad.''

On the positive side, private capital – both foreign and domestic – is continuing to enter the state in search of quality investment deals. As banks start to deal with their problem assets, more deals will come to market.