I want to invest in real estate that I can enjoy. Is Florida waterfront real estate still a good investment?

Answer 1

Florida real estate is still a great investment if you follow the old rule of buying right and selling right. Real estate runs in cycles, just like any other investment instrument, and you need to know when to take action. For example, if you can buy property today at 70%, or less, of appraised value you stand an excellent chance of making money when you sell it later and will be able to enjoy the property while you own it.

From an investment perspective, waterfront property always holds it's value better than dry-lot homes and has historically outpaced the rest of the market. The trick, however, is to buy BELOW current market value and then, if you choose, you can use the equity in the home to make repairs, improvements and even mortgage payments.

And, if you want to know when to buy, the time is NOW! There is already a trend towards rising prices for waterfront homes and "below market" bargains are getting harder and harder to find. I realize that those folks who bought properties during the height of the market cycle (during 2005) may not want to hear this, but then again, they bought when they should have sold and now they are upside down on their properties and these homes are the targets of today's investors.

For more information, I suggest that you take a look at our Yahoo group: FSIGroup (Florida Shoreline Investments), that we just started. We will be adding more content every day, but for the moment we have a good list of "below market" direct Gulf of Mexico access homes that are available for purchase.

If you have any questions, or if you believe that we can be of assistance to you, please feel free to contact me. I will always answer reasonable requests and respond to civil comments.

Thanks,
Al Olsen
Florida Shorline Investments, LLC
Dean Kenneth Properties, Inc

Answer 2

Anyone remotely aware of the Florida real estate market knows this is a big issue. No, they are not good investments.

The constant battering of storms and bad weather has got people fleeing Florida in droves... In Key West, which was once THE hot real estate market, every other house on the island has been on the seller's block for years now, and no one is buying.

This is a place where the real world and the unreal world of real estate have come up against one another.

The real world wins.

Answer 3

It depends on the purpose of your investment.
Long term hold or short term flip?

Either way my initial answer to the question was no it's not a good investment (I'm more familiar with the Panhandle), but after reading several comments of homes selling 75% below what they purchased and lots of homes on the market (buyers market), I'd have to do some more research. A buyer's market with the potential upswing is what I look for as an investor.

Answer 4

In today's market, in Florida, investing means a long term commitment. Forget about flipping in most of Florida. There is still too much inventory, and prices are still adjusting. But you can use the buyer's market as an advantage, if you are smart.

If your investment goal is to buy rental property, (or vacation property that you plan to use and sell later), and you want an investment that will appreciate over time, I think Florida waterfront properties can still offer you that. Also, Florida NONwaterfront properties that are close to the beach.

Now is a great time to buy because there are so many choices and such great prices.

Check out Venice, on the Gulf of Florida, 15 minutes south of Sarasota, 1 hour south of Tampa, 1 hour north of Naples.

It's a beachfront community that is still very affordable.

THE CLEAN BEACHES COUNCIL
IN WASHINGTON D.C. NAMED VENICE BEACH AND CASPERSEN BEACH (IN VENICE)
"BLUE WAVE BEACHES" (based on water quality, beach and inter-tidal conditions and habitat conservation).

www.searchforvenice.com for more info

Good luck and best wishes.

Answer 5

prices are falling atm.

seems that the cost of hurricane insurance has skyrocketed, as well as property taxes, so owners are more squeezed than many can recall. Some are selling because they must.


No idea when it might change course. Usually, these things stabilize for a while before they go up again, AND sometimes the stability is just a prelude to another crash.

***
Florida government is 'working' on both the tax picture and the hurricane insurance problem. As you'd imagine, success is limited and most likely will result in higher taxes/costs to anyone who can not vote here (as you'd expect of any political process).

Answer 6

As one of the answerers said it really is up to you to research and be ahead of those who do not research the market in where you might locate a property. Knowledge is power you might want to start your research here
Florida Real Estate Market Report http://news.ufl.edu/2006/12/05/real-estate-outlook/
Then if you really want to learn more about the florida real estate issues you might want to go here
http://www.realestateformnm.com/researchindividual.aspx
Best of luck on your research

Answer 7

No. I know 3 people right now that can't even give away their waterfront homes in FL. They are offering them at less than 75% of what they paid for them a few years ago (before the rash of hurricanes) and still can't dump them.

Answer 8

Try Myrtle Beach. A lot of people are coming to Myrtle Beach rather than Florida now. It is a buyer's market.

http://www.llord.exitgrandstrand.com

Answer 9

With the weird things happening around? I don't think so. Think tsunami.

Answer 10

Hello there, try with REIFax