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Land doesn't give you management and maintenance headaches


We live in exciting times! The 2008 mortgage & credit crisis is creating spectacular opportunities to buy well located land at prices up to 60% lower than 2005 prices. Rarely do buyers have the chance to buy at absolute market bottoms. Land will be the best way to participate when the Florida real estate market has its eventual price recovery. The first five of months of 2008 have shown an increase in buying activity compared to 2007, especially for lower priced lots. After the real estate boom that topped out in mid-2005 we are seeing the bottom of a price collapse that has reduced land prices 40 to 60 percent. 
Based on Florida's long term high growth rate from immigration, retiring baby-boomers, and others attracted to Florida's climate, beaches, and employment growth, this chance to buy property at these dramatically low prices will be the best we will see in our lifetimes. The need for well-located land is growing, Florida's population grew by 314,000 in 2007 and has grown by more than 2,000,000 since the year 2000.

Price cycles are more extreme in land than other real estate. We are passing the low point of this cycle, which is down 40 to 60% from the summer, 2005 high point of the last cycle. Buyers at this point in the cycle can possibly make 200% or more when prices get back to the levels of the summer of 2005. Since prices at each cycle high usually exceed the previous highs, potential gains are excellent compared to most other investments. 10,000 sq ft building lots can be bought for $25,000 to $35,000 (down from $55,000 to $70,000 in 2005)

Building lot values will increase over long periods of time because the population of Florida is growing by 300,000 + people/year and the amount of available, well located, buildable land is shrinking. Land in Florida and within a 30 minute drive of the beaches is the most likely to increase in value because that's where most of the people want to live.

Land doesn't give you management and maintenance headaches.

You've probably heard of the increasing number of foreign real estate investments in the Florida. This is not surprising. With the troubles that the real estate investment market is facing in the United States, greater opportunities in real estate investment were opened to foreign investors.

With the dollar's value in its all time low, foreign investors are finding real estate bargains in Florida. There are no shortages of deals in this market. More and more distressed properties are being sold everywhere and foreigners are pouring in millions buying these foreclosed or distressed properties. The Florida real estate has become a fairly attractive long-term investment for foreign investors.

If you're a foreigner, you would find a lot of reasons why you should invest in the Florida real estate market. Aside from the fact that the floating exchange rate has given you a lot of leverage over the bargaining table, the financial market is a pretty good reason why you should invest in the US real estate.

The financial market in the United States in relation to the real estate market is quite liberal and the restrictions against foreign investors are pretty reasonable. Furthermore, despite the devaluation of the US dollar and the wide foreclosures of a lot of property, the real estate market remains to be stable, though slightly shaky, due to foreign investors' capital appreciation. Domestic real estate buyers may not necessarily share the same opinion, but the market has remained to be strong for foreign real estate buyers. This may be largely credited to the fact that there is minimal risk for them. 

Domocare 2008

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