South Florida Real Estate Investing: Go or No Go?
Executive Summary: In a word: YES!
There are no less than 7 reasons why you deserve to examine the truth about investing in South Florida Real Estate. These reasons include such factors as a seemingly insatiable rental market that is only expected to increase, a highly desirable and much coveted location, interest rates that are still historically low, a bit of easing of some former issues with condominium financing, a diversified and growing economy. Moreover, remarkably there are still a few remaining bargains in the South Florida market.
Introduction: Real estate South Florida and you
As you probably now, as of late it seems as if all eyes are on the South Florida Real Estate market. Up, down, sideways you name it and you won’t have to look very far to find some talking head or “I’m the authority” pundit on TV desperately trying to convince you that he/she has the inside scoop or the Real Deal as it were on the ins and outs of Real Estate in the South Florida market. Yet don’t let yourself be swayed by those talking heads on TV. Instead pay close attention to the remainder of this article or head over to Forbes where a number of the factors you are about to learn are explained. You may even find that you actually end up understanding local conditions better than your friend who happens to be a Realtor ™.
Reasons Why South Florida Real Investing May Be For You
Reason # 1: Strong Rental Market
One undisputed fact with South Florida Real Estate that you need to know that for a number of years the local rental market has tilted towards the owner or landlord side. Whereas there was a time not so long ago when Renters could pick and choose what sort of property and where, those days are long gone.
Now, in the simplest economic terms, there are more want to be renters than there are available rentals. In other words, low supply and high demand means higher rental prices and better terms and better tenants from the owner’s perspective.
Reason # 2: Rental Market Keeps Growing
The fact of the matterY is that demand for rental housing keeps increasing. While it is true that there are a number of Rental Housing and Apartments projects under construction, the reality is that a growing population in the South Florida area is only serving to increase demand even further
Reason # 3: Location Location Location
As the saying goes, Real Estate, especially Florida Real Estate is all about Location Location Location. From the world famous beaches and oceanfront communities, quite a number of savvy investors and owners have clearly decided South Florida is the place to be.
Reason # 4: Favorable Interest Rates
Rumors and sound bites aside, even if the Federal Reserve Board does raise interest rates this year, that will not change the hard to dismiss out of hand fact that mortgage rates are still at historically low rates.
Reason # 5: Some Easing on Restrictions on Condo financing
You may or may not be aware that after the nationwide Real Estate crash (disaster) of the 2008-2009 years, obtaining condominium financing with conventional or FHA mortgages become virtually impossible, at least without rather sizable downmpayments. How sizable? Think 20% to 25%! Ouch! Not a big deal for the out of country CASH BUYERS to be sure, but a real burden for a number of others that wanted a South Florida condo. Thankfully, as of late there has been some easing for condo financing although, truth be told, that easing is at this point, building or community specific.
Reason # 6: Diversified and growing economy
You must have seen the various media reports on the good news that keeps crossing Governor Scott’s desk up in Tallahassee. Trump effect or not, he news and the reports that clearly indicate that Florida in general is long past the days of depending solely on tourist dollars for revenue. Actually, it is widely recognized today that the Florida economy is both diversified and growing at a healthy rate. Obviously that sort of fact bodes well for investors in South Florida Real Estate.
Reason # 7: Bargains Still Available
Incredibly, despite all that you read above, there are still bargains to be had in the South Florida Real Estate market. Whether from downsizing homeowners or the list of foreclosure homes , there are still a number of what you would refer to as good deals. Better yet, you will be pleased to learn that there are good deals with South Florida at all price points and in quite a number of locations. Believe it or not, there are even Real Estate bargains in the much acclaimed Weston Florida Real Estate Market
Bottom Line? South Florida Real Estate Investing Is A Go!
As you can plainly see from the above, the answer to the question of whether or not to invest in South Florida Real Estate is a resounding YES!.
KellerWilliams Realty Professionals
3696 N. Federal Hwy, Ste 101
Fort Lauderdale Fl 33308
954 895 5335