Is now the time to buy a $1 million home?

MIAMI – Feb. 22, 2008 – The Karsentis are jumping into South Florida real estate at a risky time: Home prices are down, foreclosures are up, and for-sale signs are as common as palm trees.But entrepreneur Arnaud Karsenti and his wife, Rebecca, a doctor now pregnant with their first child, are confident that the $1.15 million home they have a contract to buy in the wealthy Miami suburb of Pinecrest, Fla., will prove to be a good investment.“I see the real estate market declining, so it’s very difficult to stick a fork in the ground and take a position on something that could be overvalued six months down the road,” said Karsenti, a recent graduate of Harvard Business School. “Our decision is long term.”

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