South Florida Market !

As a investor form Canada, my question is why is there so much false adverting in South Florida , we hear about the market in bad shape and bank and lenders are taking back + - 2000 properties a month , where are these properties being sold at ? I was in South Fl for over a month looking and didn't find anything to buy as bulk "condo's" or Hotel/Motel properties but there is alot of false adverting, that i did find ! any clear and free properties in Broward county area people want to answer me with i would look at, Ideal property a small mom and pop, or any bulk condo's ocean.
Thank You
In Buying Property - Asked by Gary W. - Aug 26, 2010
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Answer(s)

Ted N.
Appraiser
Miami, FL

South Florida Market. It is surprising the difference in what is reported by the national press and what actually exists. There are sub-markets where the reporting is accurate. The only trouble is; Location Location, Location, still prevails and governs the activity of the wise investor owner. Remember, there is a 15-20 percent un and under employment in South Florida. That means there must be a 80-85% employed market. In Miami they have better than average family incomes. That socio-economic segment of the market tends to seek the best Locations, because they know there is no difficulty buying now and/or re-selling later. That makes sense.
I am a designated MAI appraiser, but I can put you in touch with my Realtor associate partner if you were to e-mail me at tnvaluit@gmail.com He can wisely guide you to proven market recognized "hot but overbuilt" areas in South Florida for good substantial discounted bulk inventory and/or individual unit purchase.
Thanks, Ted Norbert Jr. MAI, SRA

Aug 26, 2010
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Monica M.
Owner/Investor
Valencia, CA

Right now lenders are offering a max LTV of 65% on all Florida properties. If you plan on investing in Florida, prepare to have 35% cash down on all transactions unless dealing with bank-owned foreclosure with bank-direct funding.

Sep 8, 2010
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