Looking to buy high end real estate in Florida? If so, this article is for you. High end real estate is defined as real estate that meets a certain threshold when it comes to size, neighborhood, value and luxury. It is important however to understand the difference between value and price. Some people will look at only the property that is listed in the millions as qualifying for high end, but not so. Due to the real estate market price drops in 2008 which are still affecting some areas, it is possible to find some high end properties for a much lower price provided that you know where to look. Here are some great ideas.
The first type of high end Florida 30A real estate that you should be looking for is the one listed as a short sale. What is a short sale? A short sale is a property that has been placed for sale at a price lower than the market value due to the fact that the current owner cannot meet the payments. Instead of going the foreclosure route, the bank has agreed to place the property for sale and you can benefit from that. Finding real estate placed on a short sale listing can make for a great investment, especially now that the prices are under the predicted value.
Look Different Areas
Some areas in Florida were affected a lot more than others when the real estate market took its plunge. This is the time when you need to be doing some research. In some cases you could be looking at better property in a more heavily affected area. It may be that the prices will take a little longer to rebound, but high end real estate is not a short term investment. Give it some time and your investment could pay you percentages that you have never seen in the high end real estate market.
Another great way to get a bargain when you are looking to purchase high end real estate in Florida 30A is to look at foreclosures. Yes, even the high end properties can be foreclosed and when they do they are sold for unbelievable low prices. The bank cannot afford to sit on a property for a long period of time so they will place the property for sale and when a buyer meets the bank’s price range the property is sold. You could be purchasing property for seventy percent the value of the house and in some cases even less.
Talk To Attorneys
Talking to attorneys is something that a lot of people do not do. That is a mistake as you could end up getting information on property from them. Attorneys will deal with out of state sales and with people trying to sell property for clients who recently passed away. The information that you could get from real estate attorneys can be invaluable and could get you all the facts that you need in order to make the best possible investment. Look at real estate announcements in the newspaper and check for the attorneys involved with them.