Bargains abound.
The window of opportunity to pick up a second home in Florida is certainly open. The price point for many homes currently is currently below that of the year 2000. This will not go on forever.
Once in office, the new Oboma administration policies will begin to take hold with new jobs being created in the green industries. This, coupled with the population growth, will work to reduce the existing home inventory.
Though hard to tell for some, Florida has actually been better off than other areas in the United States and should be considered carefully by savvy investors. A year ago the median sales price for an existing home in Orlando was in the $222,000 range. Just two months ago, the price point was hovering right around $169,000 – a nearly 23 percent decrease.
With perhaps a bit more downside left to go, it’s a perfect time to add a second home in Florida into a portfolio.
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