Smart Money magazine says Tampa Bay home prices are fairly valued, however, it says a bubble may exist in Florida's Southeastern region. Here's a snippet from an article in this morning's St. Petersburg Times about the Smart Money report:
Fort Lauderdale is the most overvalued market in the state, 36 percent ahead of incomes. However, California is still in a class by itself, with 10 of its metro areas 50 percent or more overvalued. Winzer says most Florida metro areas are fairly valued.
Now I understand why adult film star Mary Carey's California condo cost more than her luxury home in Boca Raton. I had trouble swallowing that one from her before, but not anymore. What to do if you're concerned about the California real estate bubble bursting after a recent purchase there? Sell and move to Florida, just not to the Southeastern part of the state.
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