What is an investor to do?
The whole world seems to be in a wait and see holding pattern. Here in Florida we have watched the Real Estate market run up to unprecedented highs and then watched the bottom fall out from under us.
Few would argue that we have seen and are currently experiencing the bottom as far as prices are concerned.
Even the nay-Sayers have a difficult time predicting that there will be significant slippage from here and I would argue that if there is, no investment is safe. The artificial props that have kept the stock market alive are caving under the weight of this precocious market. I for one am not optimistic about its ability to continue to provide growth over time. Let’s face it; the days of consistent growth are behind us. Corporations now recognize that they must rely on consistent profits rather than consistent growth and they are having difficulty adapting and performing under this new reality.
My point in all of this is that us “Baby Boomers” need to re-think our strategies.
In the past we built up our retirement stash and a winter home was a move that was made upon retirement. Now it should be a part of your planning. With current prices running about half the cost of new construction and significantly less than national median prices, investing in Florida real estate should be a consideration. Southwest Florida properties now cash flow for the first time in more than a decade.
Invest in Quality of Life
This is a once in a lifetime opportunity to secure a retirement that for years has been little more than a dream. With prices at 40% to 60% of those just 3 years ago, the bar has been shifted and you should be thinking about securing your opportunity. Florida is and always will be a vacation and retirement destination which is why our real estate has suffered so dramatically. Most people move with the masses, retreating when others retreat and advancing when others advance. For those who go against those instincts great rewards can be realized.
It is Time to Buy
I would like to be able to say that an investment in Florida real estate can only go up but nothing in this world is certain. What I can say is that I sincerely believe that real estate has an intrinsic value that few other investments can boast. Let me assist you in your own evaluation and I am confident that you will agree.