Luxury Real Estate
Coral Gables' long term real estate demand has been solidified and endured the tests of time. The languishing market is an opportunity for luxury property investors to take advantage of a temporary decline in the property values. In other words, this is a luxury property buyer's market.
Buyers should find comfort in knowing that historically the luxury property market in South Florida has maintained strong stability. Even more uplifting, markets such as the one being discussed come with less risk than traditional ones which only encourages investors to pursue a venture since the market caters to buyers. Since prices have radically plummeted, the potential for purchasing a high end property at a midrange price suddenly becomes more of a reality than an unlikely possibility. The chances that an enticing opportunity such as this will present itself in your lifetime are quite infinitesimal.
Individuals should definitely be cautious if they're considering a luxury property acquisition but that doesn't mean they shouldn't explore the huge amount of homes currently on the market priced at amounts they may never be as low-priced at again. Investors usually seek out homes that are reasonably priced, but due to the anomaly of the current market slump they have become temptingly inexpensive and sellers, for the first time in South Florida Real Estate history, are compromising.
Investors that have been ignoring the luxury housing market in Coral Gables may be doing themselves more harm than good. It is common knowledge that luxury homes in the affluent neighborhood rarely, if ever dip in price despite the market's overall slump so waiting around won't garner you any substantial results as it would in some of the more inconsistent markets like mid-range priced real estate markets.
Coral Gables has the distinction of being one of the very few neighborhoods in South Florida where a luxury property seldom reaches records lows since it has consistently maintained a healthy sales and investment market that dates all the way back to the sixties and has only increased. You'd only be stifling your own efforts if you decide to wait it out like so many investors are choosing to do. The investment opportunities currently available may never present themselves again.
- Last edited October 15 2008
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