Orlando, FL (PRWEB) January 19, 2013
The Real Estate Marketing Insider released its response to Virtual Strategy's report that Florida’s real estate market is becoming one of the more fertile for distressed properties, such as homes in short sale or foreclosure, that haven’t yet been listed or marketed. The Insider advised its readers that Florida and its distressed properties would make a great starting point for buyers looking to begin or develop investment portfolios or rental properties.
Sarasota Bay Real Estate, a Florida-area online real estate marketing firm, compiled statistics that examined the housing market nationwide in October of last year. At that time, distressed properties were unevenly distributed across the U.S.; five states contained about 45 percent of distressed properties. Florida was among these states, along with California, New York, New Jersey, and Illinois. Despite the high level of short sales and foreclosures in the area, mortgage defaults and delinquencies in Florida fell by almost 2 percent. Experts expect that the large supply of foreclosed and short-sale properties in Florida will decline as delinquencies and loan defaults continue to drop.
Despite the impending drop in distressed inventory, REMI believes that Florida is an important market to watch for prospective investors. Homebuyers who have extra cash, or have successfully paid off their personal mortgages, may be considering investing in real estate as a way to earn some extra cash. Florida is a good market to look at as a starting point. The large number of un-marketed distressed-sale properties will go for sale soon, and buyers could get great deals on them. Properties in Florida have attractive qualities, such as weather, location, and proximity to major cities, which will make it extremely lucrative for new buyers. Investors that get in at the foreclosure level and sell to new buyers could be extremely successful. The Insider recommends to readers looking at getting into the investment game to start by looking at Florida’s distressed sales.
The Real Estate Marketing Insider released a statement following news that in October 2012 Florida ranked among the top markets in the nation for distressed properties – such as foreclosures or short sales – that are yet to hit the market. REMI recommends Florida’s distressed market to readers who are hoping to start or develop investment careers, as the available properties would be cheap to procure and attractive to new buyers.
About Real Estate Marketing Insider:
The Real Estate Marketing Insider is an online journal for real estate professionals, homebuyers, and home sellers. The La Jolla, Calif.-based publication provides up-to-the-minute news, market analysis, and tips for growing real estate businesses.