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which area in florida is most likely to come back strong quicker for real estate investments?

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johnhamood

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December 19 2008 - Naples
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NTETS ZDGS 2007, "Caveat Emptor"

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I think southwest Florida is already starting to see signs of improvement, especially the Naples and Marco Island area. In Naples we had 57 closed sales over $1M in June. May was also very active with over 1000 units going under contract compared to 589 one year prior.

hahahahaha

that is a perfect example of exactly why i ignore what "experts" say regarding their local market. i have family in Naples, so i follow their market actually more closely than the Seattle area.i have family in construction, insurance, education, service, even government. NAPLES IS IN A DEPRESSION. there are no two ways about it. home prices have fallen 70% including 30% THIS YEAR.

South Florida has been hit the hardest in Florida because it was the most popular during the real estate bull market

no, it was hit hardest because 1/2 of all jobs were related to construction and tourism. the economy is dead. people cant get loans, small businesses are closing, the largest mall is half empty, construction projects stopped half finished...

all that said, if i were a in the market for an investment property, i probably would consider Naples, but i would make pretty damn sure that there was a better trend in place than -30% yoy
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November 17
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Roberto Ribas, "azrob"

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this question is from over a year ago, and south florida agent's cheered the whole year... Without noticing the irony, John comes along to continue the trend...
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November 16
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John Krol, "Broker John"

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South Florida has been hit the hardest in Florida because it was the most popular during the real estate bull market, I would look in the blue chip areas of south Florida. I personally believe in Naples FL. Prices are depreciated down beyond 2000 levels in most areas. I believe this area will come back the strongest because of it's beauty, nature, cultural events, proximity to Miami, Ft. Lauderdale,  just come down and see for yourself. You will not be disappointed.  Do not listen to the doom sayers.  They are saying it has not bottomed yet.  They probley said the same thing about the stock market earlier this year and missed a quick 30%, I have noticed a change in the real estate market down here. Naples is an international market and south Florida is the only piece of tropical real estate in the mainland US. It is the REO inventory that has been coming on the market keeping prices down is some areas (not all, some areas pricing is improving where there are not many foreclosures).  Banks are terrible in disposing real estate holdings but this will not last forever , and I am viewing this as a once in my lifetime opportunity to buy homes at a fraction of the replacement value. Do not miss this.  Find an agent with investment experience and is a top 1% producer in the area you choose to start showing you ideas.
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November 16
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You Realtor's are obviously from the area your each cheer-leading for LOL don't listen to these used car salesman, their only looking after their own diminishing commissions !  bottom line is every town in FL is still overpriced and no were near the bottom.  FL leads the nation in foreclosures and even worse notices of defaults are building sky high. If your naive enough to buy into the propaganda go ahead and buy!
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September 21
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MTtrader

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September 21
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Daniel J. Hunter, "LoveTheGulfRE"

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areas where the loses were exaggerated.  In Hudson, florida some communities went from $40k to $130k back to $45k.  Lots of potential here and in surrounding areas.  That is why so many builders have been here, and are starting to come back.  it has been a long time since Florida homes have been so affordabe.  And best of all, you can now make money buying a property to rent.  in past years that market was upside down.

why would you buy a $300,000 house only to rent it out for $1200-1500

tide has turned
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September 20
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Ken Lowe, "NAPLESREALTY"

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I believe the coastal areas in South West Florida have the best opportunity for the near term. The values plummeted drasticaly and the inventory has started to dwindle indicating tht pricing has reached a level where invstors want to return to the market.  The Collier County market has a strong traditional demand and is a smaller market which I believe will recover quickly.  I would be happy to share charts and ideas as to why I believe our market may have already turned the corner.
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September 20
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Sarah Maus, "SarahMaus"

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The Orlando area will always remain "strong" as an investment...we have the tourist attractions, close proximity to beaches, gorgeous weather, and of course, the up and coming "Medical City". 
No one knows if we have, or when we will "hit bottom".
Of course the stats show that buyers are "coming off the fence", so to speak, but half of them are investors buying up the distressed properties.
I suggest you do your homework, and work with a knowledgable Realtor
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September 05
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Juanita Futch, "jfutch"

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I would look at areas in Florida that have taken a hit as others, but not quite so bad.  I'm a Realtor in the Gainesville area just north of Ocala, and although our area was affected by the decline in the real estate market, the percentages of foreclosures and drop in prices did not seem as hard hit as others.  Maybe due to the ammenties in the area, home of the University of Florida, Shands Teaching Hospital, UF's Veterinary School, ect.? And of course waterfront properties.  Think about what Florida has to offer and where people would want to be.
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September 05
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Melissa Godwin, "MelissaGodwin"

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We are seeing a strong sign that the bottom is here or close to it.  Good buys are  here especially for those that can wait for short sales.  I am seeing more buyers than ever calling us.
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August 28
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jkonstant

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I sold and left Virginia for Florida in October 08. Despite the realtor spun media hype recently, it is bad. It is very bad. Unemplyment is rising, tax bases are declining and there are so many homes not yet on the market that have simply been abandoned that there is no way to know where recovery might begin or when itmight happen. Condo fees are not being paid and services are being cut off (water/sewer/electricity). There is serious upward pressure on already sky high insurance premiums. Tourism is down statewide and non existent in some places. It's a mess all over.Bt snce you asked, as an investor, wait a couple of years. In Brevard County we have NASA. The space shuttle program is ending next year and unemployment is going to skyrocket as well as home values are gong to really plummet. Wait it out a few years and until the new over budget, over priced Orion program gets rolling along. 2013-2015 might be good years here.
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July 08
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Roberto Ribas, "azrob"

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hilarious!!! they aren't done going down yet, not even close!!!
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July 07
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Gary Holzhausen IV, "naplespropertypro"

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I think southwest Florida is already starting to see signs of improvement, especially the Naples and Marco Island area. In Naples we had 57 closed sales over $1M in June. May was also very active with over 1000 units going under contract compared to 589 one year prior.
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July 07
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Lori Lamb, "lorilamb"

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It always seems to come back from the bottom up. Miami area I think will be one of the first Florida areas to come back.
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March 26
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Lynn Wilber, "NaplesLynnGRI"

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In my opinion, it will be the areas that are on the beach or have beach access like Pelican Bay.  There is only one beach and location to it drives prices.
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March 26
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frisky1

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The area that wasn't overbuilt.Maybe the everglades? 
when are they predicting florida will be underwater because of global warming?
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December 20 2008
 

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