12-month forecast: 8.8% loss
North Miami, Florida
Median home price: $335,000
This home's price: $335,000
Square feet: 1,525
Details: Agent Jason Smith reports that there was a great deal of home buying for investment purposes in this North Miami neighborhood over the past few years. And many of the homes are being rented out.
But with prices sliding and expenses mounting, many investors may try to sell, which could flood the market ith inventory. Smith does not expect to see price gains this year.
This particular property may buck the trend a bit because it is located in a very convenient neighborhood for commuting purposes. "Traffic drives prices in this area," Smith says. Also, like many of its neighbors, this house sits on a very large lot, which could help it retain its value.
Broker: Coldwell Banker - Florida Moves