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NEWS
Recent development in the real estate market of Florida is well known to most, ground zero for the real estate "bubble burst". With a glut of properties for sale, with prices still trying to reach into the sky fruitlessly, for the present, create a heightened amount of people looking to rent. With forecasts of price bottoming out 18-24 months from now, "would be" buyers are turning away from purchasing and are renting to wait and see what happens.

With this huge influx of potential tenants, sellers need to re examine their strategies. Home owners who occupy, as well as real estate speculators need to pay a mortgage in the majority of cases. These mortgages don't get paid if the property is empty. Our research indicates that close to 37% of properties are sitting vacant. The objective in today's market, should be to hold on to the property until better times return and to minimize the financial loss along the way. If a national recession becomes reality (as forecasted by CNBC and CNN), life will only be more difficult with a rush to undercut sellers and landlords to get out of mortgage obligations at any cost. A price war will begin. Probably not wise to wait until this becomes reality.

Boca Property Management can assist in these hard times to generate cash flow with minimal effort from the property owner.

November 2007

"Our commitment is to keep your investment running smoothly and profitably."

 

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