subject: Out of State Purchasers rush to Florida to buy Real Estate at bargain prices [print this page] Out of State Purchasers rush to Florida to buy Real Estate at bargain prices
Out of State Purchasers rush to Florida to buy Real Estate at bargain prices.
Investors who have not focused primarily in Florida are now setting their focus on Real Estate deals here in Broward and Miami Dade County.
South Beach condos are selling for as low as $70,000-$100,000 dollars. In other areas like Coral Springs or Deerfield Beach you can buy a renovated 2 bed room 2 bathroom Condo for as little as $50,000. If we have not bottomed out does it matter at this price.
Analysts do predict that real estate prices will not increase until the banks get rid of all their foreclosed properties and there are more jobs in the region.
However, foreign investors are keeping the South Florida prices from going down further according to the Miami Association of Realtors said in its November report.
"The international buyers continue to fuel market strengthening, we continue to observe positive signs," said association president Oliver Ruiz.
There are so many reasons why South Florida is attracting Foreign Capital. South Florida has great weather so attracts retierees and people wanting second homes in milder climates. South Americans see South Florida as a safe place to invest their money and Real Estate is a solid investment, The prices in South Florida are extremely low and it is doubtful whether they will continue to decline.
We have clients coming from Brazil and just leaving deposits on Condos for as low as $50,000. Our office was filled with Investors from NY trying to get in on the renatal market. Where else can you buy a Single Family Home for $65,000 and rent it out for $1,200 per month. The taxes and insurance together are only about 250 per month.
South florida's Real Estate Market makes sense. Investors are making money.
