In an amazing feat, WCI Communities, a builder of high rise condos and homes primarily in Florida, has emerged from bankruptcy and eliminated $2b in liabilities. Most people know WCI from their gorgeous high rise condos located along Florida’s coasts. They were based in Bonita Springs, Florida, and many of their best buildings are along the southwest coast spanning from Ft Meyers to Naples.

What makes WCI condos so unique are the floorplans that span across the building providing views of the ocean and interior. They were one of the first companies to pioneer direct elevator access to the units. The amenities in their condos were also outstanding and they did tremendous amounts of research on what homeowners wanted out of the buildings.

Maybe now they can put the housing crash and bankruptcy behind them. I am looking forward to new product and inventory!

Despite all the hoo-ha about falling prices inventory and prices on homes in Miami have actually risen in recent months. According to MDA DATAQUICK a total of 7,942 new and resale houses and condos sold in July, up 2.8% from June and up 24.4% from July 2008. While the results mark the fifth straight month of year-over-year increases, it’s the second-lowest number of sales in the region for the month of July - last year’s marked the worst July total - since 1997, when MDA DataQuick began compiling data on the Miami area.

I think Miami home prices and home prices throughout the state of Florida will begin to rise slowly in the coming quarters as inventory becomes completely depleted. Yesterday Senator Reid from Nevada introduced a bill to extend the $8,000 first time home buyer tax credit. Prices will not stay depressed for long!