Florida Real Estate is a Great Buyers Market
There is no question that Florida Real Estate is appealing to people both domestically and to our Foreign Friends. In fact, in 2010, about 60% of South Florida was purchased by our foreign buyers who found Florida to be their Investment Location of Choice. Why? The reasons are many, starting with the fact that Florida is not just for sale it is ON SALE. Granted there are better cash flow markets to be found than Florida and there are currently better Growth Markets to be found than Florida. So then why are so many people finding Florida a great place to invest in real estate?
Simple Answer, Florida real estate has MASSIVE appeal and long term has a great outlook.
A recent Florida trend article stated that Florida is a haven for the affluent
- Florida s the warmest state in the USA so it is appealing to Baby Boomers
- Florida is highly sought after as a vacation destination
- Florida is highly sought after as a beach destination
- Florida is highly sought after as a golfing destination
- Florida is Home to the most theme parks of anywhere in the USA
- OK, I could go on forever but you get the idea, Florida is highly sought after!
So, if so many people want to own a piece of Florida when is the best time to buy? Simple answer, look to the investment Guru Warren Buffet who says, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
Yes, many people are fearful right now and as a Florida realtor, I am always suggesting to these fear filled people not to sell. I am, of course, out numbered by the realtors who want them to sell so they can make a commission or by the many number of people who are selling because they have no other choices due to job loss or other financing challenges they face. So if people are fearful, any great investor knows he or she must be greedy.
People across the world understand that if they want to own a Florida Vacation or Second Home a they need to take action now before the economy corrects, because as it corrects the prices will once again become out of reach for the second home owner and for an investor to attempt to profit from this highly sought after commodity we call Florida.