Is the Florida Real Estate Market Scraping the Sandy Beach Bottom?

Share News:

Mary Ann and Fred Davis bought a home in Naples, Florida for $200,000. 2400 square feet and 40% off what it sold for in 2005. The home is in a gated community and they plan to keep it as a second home/family retreat for years, hence no pie-in-the-sky buy and flip notions. I’ve got more friends snapping up properties in three out of four of the nation’s hardest hit markets: Florida, Phoenix, and Idaho. (Sorry, no one I know cares to buy in Las Vegas.) This home was a short sale purchase. And according to Zillow economist Stan Humphries, this may be a great time to pick up a second home as long as you keep it for many years…

Reader Interactions

Comments

  1. Charles Nuber says

    The deals are deep discounts on quality properties. A little carpet, a little paint, and a little cash one or more of these can be yours – make sure you hire a great agent that knows the area – there is no substitute for experience in the real estate arena. Oh I hear you – you can fill out a contract, most could take a stab at it – Do you know how to get out of it if things turn bad? Perhaps you learn the Super Deal property is next to the future site of some kind of toxic waste dump or will overlook a brand new dumpster for the planned shopping mall? And to think that agent could have saved you from all that and more. I can hear you now – it's a green belt not a shopping mall =)

  2. Charles Nuber says

    The deals are deep discounts on quality properties. A little carpet, a little paint, and a little cash one or more of these can be yours – make sure you hire a great agent that knows the area – there is no substitute for experience in the real estate arena. Oh I hear you – you can fill out a contract, most could take a stab at it – Do you know how to get out of it if things turn bad? Perhaps you learn the Super Deal property is next to the future site of some kind of toxic waste dump or will overlook a brand new dumpster for the planned shopping mall? And to think that agent could have saved you from all that and more. I can hear you now – it's a green belt not a shopping mall =)