Sunday, December 18, 2011
Friday, December 16, 2011
Saturday, December 10, 2011
Thursday, December 8, 2011
South Florida Real Estate - I want an Oceanfront Property Deal!
The South Florida Real Estate market has certainly seen a tremendous change. This has been a ride! Specifically the waterfront properties. While we have watched luxury condominiums pop up all over the coast, they went from being sold and resold to being foreclosed upon and being sold as a short sale.
Is this the time to buy? Yes. If you are looking for a waterfront property, there is only so much oceanfront. Consider this, over the last two years there was barely financing available. Most of the buyers were cash only and they called the shots. Now, there is financing available (except for condo hotels) and list prices for short sales, foreclosure and regular sale properties have become competitive, which in turn has stabilized the waterfront market. The inventory has gone down and the Banks have gotten slightly better at handling the short sale/foreclosure process.
Not all of Florida is seeing this but the waterfront properties are selling. Buyers are coming from all over the country and internationally all wanting the same thing - an opportunity to own on the ocean...
Is this the time to buy? Yes. If you are looking for a waterfront property, there is only so much oceanfront. Consider this, over the last two years there was barely financing available. Most of the buyers were cash only and they called the shots. Now, there is financing available (except for condo hotels) and list prices for short sales, foreclosure and regular sale properties have become competitive, which in turn has stabilized the waterfront market. The inventory has gone down and the Banks have gotten slightly better at handling the short sale/foreclosure process.
Not all of Florida is seeing this but the waterfront properties are selling. Buyers are coming from all over the country and internationally all wanting the same thing - an opportunity to own on the ocean...
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