Our August 2010 luncheon featuring Property Appraiser Gary Nikolits was featured in this report by the Palm Beach Post:

Property appraiser: Market values hitting bottom

By Jeff Ostrowski

WEST PALM BEACH — The plunge in Palm Beach County real estate values has slowed from free-fall to gradual downturn, Property Appraiser Gary Nikolits said Wednesday. Next year’s rate of decline likely will be about half this year’s 12.5 percent drop, Nikolits said.

The market value of the county’s 628,000 properties fell from $179.9 billion in 2009 to $157.4 billion in 2010. Property values peaked at $233 billion in 2006.

“We have pretty much hit the bottom of the market in many areas of the county,” Nikolits said during a speech to members of the Economic Forum of Palm Beach County.

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Presentation slides: PDF

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Recent Events by David F. Carr