Charles L. Hanes
Well, I finally got around to traveling to Florida to check out the plethora of news
articles that we read about regarding snatching up Florida properties at pennies on the
dollar and, much like the myth that the conventional media has been perpetrating about
Toronto’s “Bubble About To Burst” (we have 6 years of these articles and 6
years of record breaking sales) so goes the myth about Florida properties being available
at “pennies on the dollar”.
That said, if you are looking for quality real estate at drastic savings, then I’ve
come up with a select few developments that you will want to have a look at and evaluate.
I spent 10 days roaring around Florida southeast coast, so busy that I didn’t even
get a day at the beach, which after all, is what Florida is really all about!
Don’t get me wrong, there are some good buys available but not at pennies on the
dollar. You might find some of these bargain basement offerings at inland developments,
over in mosquito Ville (most inland properties give you screened in lanai’s due to
bugs) but when it comes to oceanfront properties you can forget about it! Quality real
estate still demand real money, after all they don’t make any more oceanfront
property and no matter how hard the economy is hit by this recent downturn in real estate
and financial crisis, you can be that the market will bounce back. You time window on
investment may stretch out to enjoy optimum returns but that again is one of the key
factors in astute real estate investments. You don’t have to be a rocket scientist to
figure out that the first to bounce back will be ocean front property as Europeans and
investors all over the world are still seriously looking at Florida as the place to be
investing.
I started up in Delray Beach, one of my personal favourite areas on the east coast of
Florida although I can tell you in all sincerity that pretty well all areas along
Florida’s “Golden Coast” can easily justify as my favourites. What’s
not to fall in love with! Golden beaches, and that ever present Atlantic Ocean, palm trees
swaying in the wind and that constant ocean breeze. As today’s temperature falls in
Toronto to 8 degrees and I pull out my fleece lined pants and winter garb, the impact of
returning home is definitely setting in. |
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I found a ton of
stuff that I absolutely fell for but let me tell you again, prices or more accurately
price reductions were no where close to what the press has been reporting. The
Pompano Beach area has some excellent value (I found one very high end development
that was selling in the $1,000,000 range offering suites at 50% off) but in Miami prices
were still in the $1,500 per square foot range. One place I was in was so busy writing
deals that I waiting for a half hour enjoying their cappuccino and finally had to leave to
visit other sites as I was on a very tight time line. I found tons of quality
developments, some as low as $400 per square foot but they were more the exception than
the rule.
The obvious downside (skipping around the cash crunch going on) was the size of the
suites. It seems that developers along the coast were compelled to build big spacious
suites running around or just under 3,000 square feet. Even the developments that pricing
was down to approximately $400 per square foot you are still looking in the $1.2 million
dollar range and when you add the monthly maintenance fees of anywhere from $0.50 to $0.75
per square foot, for Canadians who are limited to a maximum of 6 months per year, $2,250
per month in maintenance plus taxes is a heavy burden to carry.
That said, I did find some exception deals that I will be happy to share with you. If you
have been looking for a Florida winter residence or would simply like to invest in some
quality Gold Coast real estate (I found some excellent mansions as well) simply contact me and I’ll put you on my Priority
Client List where you’ll be kept informed of every good investment that I can find. I
found some excellent “value” and with group buys I can even knock those prices
down so be sure to register with me today as you read this article and be one of my
Priority Investors Group where you’ll enjoy the best prices negotiable due to my
volume offers.
What else can I say! The investments are out there and I’ve found them all. I’ll
be going back shortly to check out the Gulf Coast from Naples up through Longboat Quay and
Sarasota so please
Register right away if you are
interested in investing or wintering in this area as when I know what interest I have I
can get the ball rolling before I get down there.
That’s it for today. If you have questions or suggestions please don’t hesitate
to write me. I’ll be glad to post your questions and input and my responses. I look
forward to hearing from you. |
