The Best Land In Florida
There's no doubt that most of the smart money is now veering toward the real estate market
which has stabilized considerably. This following the start of the US economic recovery perceived
as early as June last year. In particular, foreclosed real estate properties in Florida are of
particular interest to investors. Let's take a look on the wisdom of investing in Florida
Recession or no recession, Florida has always been a magnet for investments not only in real
estate but also in other businesses as well. The Sunshine State draws investor interest for many
reasons, among which are: a year round warm climate; a vast expanse of coastal areas for
leisure; vibrant tourism industry; business-friendly state policies; rapid appreciation of real estate
Most of these factors contributed to a building boom in Florida during the first few years after the
start of the new millennium. However, the bubble burst with the US economic recession. From
peak levels in 2005, housing prices started to slide in 2006. In Florida, there was a surplus in
construction so much so that, according to government figures, there were 300,000 vacant
homes in the state.
The high unemployment resulting from the economic crunch resulted in many home mortgages
going sour in Florida as well as in the rest of the US. In one comparative analysis, it turned out
that the mortgage delinquency rate is highest in Florida. Nearly 8 percent of mortgages in the
state were delinquent by at least sixty days, according to a report for the 2008 third quarter. The
situation on loan delinquencies has not improved. Almost 300,000 mortgages were reported
delinquent in the 2009 third quarter alone, and Florida foreclosures hit more than 80,000 for that
period. The prices of houses that were financed and already built have declined by 7 percent,
averaging $131,000 as of the third quarter of 2009.
This declining trend in prices of existing houses is reason ample enough to encourage looking
into Florida foreclosures. Banks are now eager to dispose of the real estate properties that they
have foreclosed. Fundamentally, these properties are idle assets which are onerous in terms of
taxation and depreciation cost. It would be advantageous for these banks to cash in on these
properties and invest the sales proceeds to better-yielding investments.
The Bradenton-Sarasota area has its share of many foreclosed houses in Florida. And certainly,
Bradenton foreclosures can be the apple of the eye of the most astute of home buyers. Settling
in Bradenton means living in a place which prides itself as a "Friendly City." It has an ambience
that is cosmopolitan and yet with the charm of a small town. The appeal of a Bradenton real
estate acquisition extends to Sarasota. Having a place here means close proximity to beaches
like Siesta Key, considered one of the best in America. This alone can be reason enough to seek
the Florida foreclosures that can be a gateway to not only a home but also to such a fabulous
vacation place as Siesta Key.
Jerry Piotrowicz is a real estate broker in Bradenton Florida. His business website features all
Bradenton real estate for sale.
For those seeking foreclosures, Jerry's Bradenton Foreclosures website provides free
information on all foreclosed properties in the area and is very popular with investors.
Article Source: http://EzineArticles.com/?expert=Jerry_R_Piotrowicz
Foreclosed Homes and Land in Florida
If you are looking for a good deal on land or homes in Florida,
one option is foreclosed properties. If you know of any other
websites with helpful information about foreclosures or pre
foreclosures in FL, email email@example.com and
we will consider adding a listing on this directory.