Where are the hidden values? [South Florida]
While Florida as a whole has taken the heat (no pun intended!) for being one of the hardest hit real estate markets, there are still segments of the market and certain neighborhoods that have held their values more than others and where investing now makes sense, since these area are also poised to be the first to come back. With location obviously of great importance, we asked local experts where they think today’s best real estate opportunities exist:
Sun-Sentinel: To what degree are you starting to see investors reenter the market?
Carl Van Eyssen (Realtor®, Campbell & Rosemurgy, Broward): We have investors out looking, but they’re holding on to their money. They’re all worried about the economy. There’s also going to be an additional three million REOs to hit the market nationwide in the first quarter, with lots of investors wondering if they’ll get a better deal if they wait a little longer. The bottom line is that we could be in a buyer’s market for the next seven years or longer. And, if you’re not in the business as a foreclosure agent, you may not be in this business soon.