Despite the continued housing market hardships, Palm Beach real estate continues to provide unprecedented buying opportunities for intrepid and financially savvy buyers.  As everyone knows sellers are also quite willing to negotiate on price, sometimes resulting in over $45,000 dollars in savings on purchases of Palm Beach homes.

Obviously the continued news of dwindling home prices is not favorable.  But like many real estate experts have predicted, the glut of unsold Palm Beach real estate sitting quietly on the market awaiting buyers is finally beginning to come down for once as the year has progressed leading many to believe that the Palm Beach real estate market and--South Florida real estate market for that matter--are slowly approaching the bottom.  While there is still more than a year’s worth of Palm Beach condos and Palm Beach homes up for sale, the actual number has decreased considerably, brining it closer to two years.

Does this signal an impending real estate market renaissance for Palm Beach?  That’s still too early to say and for the time being there is still twice as many homeowners attempting to sell off their property than there is people wanting to buy them.  However, as was mentioned, the actual number of homes up for sale is considerably less than the figures of early 2008.

Most people will agree that a true market recovery will not be happening anytime soon since the country is still grappling and figuring out how to deal with the fallout of the poor lending practices that lead to the market collapse in the first place.  However, many realtors and followers of the housing market are looking at these recent decreases in inventory with a grain of salt and plenty of cautious optimism.  During a time when the market’s future is still uncertain and could potentially improve or get worse, any positive news is certainly welcome.