A GREAT TIME TO BUY Print E-mail

A GREAT TIME TO BUY

       

Real Estate in Florida is feeling gloomy and it would take a very clever person to predict what will happen over the coming months or, better yet, when the crisis may end. Sub-primes, overabundant offers, a mini economic slump; there are many problems feeding this crisis, from which the psychological aspect encourages buyers and institutions alike to hold back.

 

 
 

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Could the American dream be disappearing to the more inviting siren’s song from the new strong Europe, with the Euro worth $1.50, or the "Middle Empire", which is seeing an insolent eco-nomic growth? Not so sure. Florida and Miami, in particular, have some advantages worth mentioning. The American Riviera today offers one of the best quality to price ratios in the world. So what stance should be taken when faced with this real estate crisis? Wait and see how the situation evolves or, to the contrary, try to profit from the situation by investing? To us, the answer seems obvious. Buy now and you’ll be certain to make a profit in the future.

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There are two factors that substantiate this analysis. Firstly, the ratio between the Euro, Pound and US dollar, the overabundant number of offers on the market and the mortgage crisis that are dragging prices down. Here are three promising leads for making a sound investment:

1- Property seizures (foreclosures)
The crisis has created trouble within the local economy, which is generating a chain reaction of a number of property seizures and auctions. For those who have the means, the time, and the business sense, some excellent deals can be secured. In these cases the buying price can vary between $50,000 and $200,000 for assets that, after some minor renovation work, can be sold to make substantial capital gains. As well as being a great tax advantage. 

2- resale
Offers in the resale area are as abundant and high in quality. Prices have dropped between 20 and 30% and now is the ideal time to acquire your dream flat or the villa. You can buy an extremely beautiful flat with over 100 m_ living space, well located on Miami Beach, for $350,000, which represents 240,000Û or £170,000. Barely the price of a studio in Cannes or a shoebox in London. When their owners are not using them, these assets can be made profitable by renting them (for between $2,500 to $3,000 per month).

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3- brand new
For those who prefer new builds it is also the right time to buy. There are important stocks and real estate developers are ready to offer all sorts of opportunities in order to sell their products. It is here where the most beautiful and luxuriously fitted flats, which are part of real estate development equipped with top-notch services (swimming-pools, spas, fitness, restaurants, bars, business centres...) can be found. This is the chance to buy some exceptional assets worthy of those found in Monaco, Cannes or Ibiza at prices defying all competition. This market of opportunities will go to those who are willing to react the fastest, because good deals are like all good things, they never last long.

 
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