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By Eamonn Curley
Orlando’s metro area once again topped all other locations across the state of Florida during the third quarter of 2010 in the percentage of foreclosed homes among its home sales, according to a report by the research firm Realty Trac Inc.
Almost 50% of the four county metro area home sales were foreclosed homes, this is a reflection of the demand from multiple sources domestically and Internationally for real estate at what is considered bargain basement prices that frankly will not last, this compares to about 35% of all sales in the State of Florida and 25% of all sales nationwide.
During the previous quarter there were almost 6000 foreclosed homes sold in Orange, Seminole, Osceola and Lake counties, second in Florida only to the Miami / Fort Lauderdale / Pompano Beach metro area, which had almost 11700 foreclosed homes among its home sales, or 34 percent of the total, California-based RealtyTrac have reported.
Real Estate in Florida at these prices and particularly in the foreclosed homes segment is getting a lot of support, demand is evident suggesting that Florida real estate has hit bottom and may well be close to a period of stabilisation according to results of a quarterly survey by the University of Florida.
We are seeing Private capital — both foreign and domestic — continuing to enter Florida in search of high-quality investments, As banks come to terms with how they are going to deal with their problem assets, more deals are likely to come to market, as you will know from my previous postings great care is required but there will be opportunities beyond that covered on our web site.
On a side note life insurance companies have started to reinvest in commercial properties after holding back for the past year and a half, these companies invest premiums from customers' policies, they are not deterred like private investors by the lack of available bank financing in the residential homes sector.
Florida presents a compelling argument for the savvy investor no matter what part of the world they reside. Our office receives interest from various parts of the world, all callers are seeking value, we have property opportunities across the foreclosed homes market that are fully vetted, clear of all liens and title issues. We do not ask you to close until we provide a pre-qualified credit checked client and a lease in place.
What is real and tangible is that we provide foreclosed home opportunities from $50,000 capable of generating up to 8% after all costs together with the prospect of capital appreciation over the medium term.
