Investment Opportunities: Booming Trend of Home Purchases in Florida for End of 2014
As Florida recovers from the recent real estate collapse, many are looking to the Sunshine State for new purchases of land and homes. While some of the most expensive and magnificent properties in the country reside in Florida, the expense could become an incredible investment for the future should you decide to sell. Of course this is true with virtually any home, but the trend in Florida for property sales could become profitable for those that have the money to buy into the market and sell quickly.
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Quickly Churning Homes
There are a lot of people in the United States that make a large amount of money back on their returns for buying and selling homes. The process has become so popular that television “reality” shows made a series out of flipping houses. Although the amount of money one needs for Florida homes is higher than the average of many locations, the returns may be just as amplified – especially during a purchasing trend as seen in the beginning of the fourth quarter for 2014. As 51 percent of Florida homes sales were conducted with cash, there may be greater possibility of moving the property faster.
Online Marketing for Greater Returns
The Internet provides a method for marketing products that surpasses anything humanity had in the late 1900s. Online marketing allows sellers to quickly distribute sales and deals across the globe in real-time. As foreign sales of US residential property has increased by 50 percent since 2013, marketing to these individuals may be worth the time and money invested. Since Florida currently leads the nation in foreign real estate sales, the opportunity to unload property may be greater than it is in other locales.
Apartment Construction Slows at a Greater Pace than Family Homes
According to the Associated Press, apartment construction has fell considerably since the boom of homes in July of 2014. Although there has been a surge of construction of more than 12 percent over the course of 12 months, the development of apartment complexes seems to be volatile as each month experiences extreme highs and lows when compared to the previous. What does this mean for home buyers in Florida? Less apartment complexes may lead to more family homes sold or rented merely due to the lack of location and availability. However, local population growths will play a role in how well the market develops.
Is Affordability a Problem for Your Investment?
Various professionals believe that the lack in wage growth may play a prominent role in the development and sales of homes. While many areas are pulling through the recent recession, would-be buyers may be more apprehensive to currently purchase a home. As mentioned earlier, local buyers are not your only source of revenue. While those working in the US may not afford luxurious homes in Florida, it doesn’t mean that those with money in other states or countries are unable to purchase your property.
Buying luxurious real estate may provide a strong investment for future growth while allowing you to live like royalty. This doesn’t include annual tax benefits simply by owning property. A luxurious home may provide more of an investment than you may realized when considering all of the benefits.
Guest post: Lolita Di
