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.
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).
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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