Now Is Right Time To Buy Florida Tenanted Property

(PRWEB UK) 28 February 2012

People in general tend to follow the crowd when it comes to investing, the crowd thinks that property is challenging at the moment, says Colordarcy. Sentiment however is no barometer to success in investing, otherwise more people would be making money by investing in things like Florida tenanted property.

Following the sub-prime lending crisis and the housing market crash house prices in Florida are back at levels last seen in 2004. (Source: NAR)

Investors can now take advantage of these market conditions that have aligned themselves to buy cash flow positive properties at discount prices.

Warren Buffet the billionaire investor, once said its far better to buy a wonderful company at a fair price than a fair company at a wonderful price. The same can apply to property, investors can now buy some wonderful Florida tenanted properties at a wonderful price.

This is because Florida property prices have reached their bottom, it is hard to see them falling any further and this is backed up by recent stats. Supply is barely keeping pace with demand after builders were forced to down tools on mass in the lost years between 2007 and 2010. (Source: NAR)

As recently as June 2011, a total of 10,559 homes were available to buy in Orlando via the multiple listings system (MLS). This was 35% below the figure in June 2010 when there were 16,304. With the scarcity of mortgage lending, many of those who could buy property in the past are now prevented from doing so and are forced to rent instead. (Source: NAR)

This ready supply of tenants has increasingly attracted the attention of foreign buyers. Between March 2010 and March 2011, almost a third of all Florida property sales were to overseas investors. (Source: NAR)

Loxley McKenzie Managing Director of said, This is no coincidence or anomaly but part of a long term trend we will see in 2012 and beyond. There is huge local and international demand for property in Florida.

Orlando for example is ranked number one for job growth in the USA and the population has increased 17% in the past six years. This provides a firm foundation for the future. (Source: Orlando Sentinel)

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