Florida real estate has bottomed
Good news for prior and future investors in Florida real estate! According to a recent survey conducted by the University of Florida of professionals across the state, the area's real estate market has probably reached its lowest point.
The market appears to be stabilizing, survey respondents said, citing an influx of money from investors in the United States and abroad looking for the best deals. Private capital, both foreign and domestic, is entering Florida in search of quality investment deals. In addition, the survey reveals that more deals are expected to emerge as banks dispose of troubled properties.
The willingness of life insurance companies to invest again in commercial property is a positive attribute, according to the survey, but continuing dismal unemployment numbers, the difficult retail and office market and the difficulty in getting commercial banks to extend loans are all negative mitigating factors.
Given the difficult state of the Florida real estate market during the past few years, the University of Florida survey reveals the signs of stabilization in the Florida real estate market and the continuing attractiveness of investing in Florida real estate.