Boca Raton Realty – Now is the Time For You to Strike Gold
Posted by Caesar Parisi on Wednesday, April 25th, 2012 at 5:56pm.
Have you always dreamt of owning tropical, waterfront property? Maybe you'd love to add a vacation home to your real estate portfolio, either for personal use or profit? Boca Raton boasts some of the most luxurious communities in the nation, but that doesn't mean you can't find a good deal.
What is the Real Estate Market Like in Boca Raton?
Boca Raton is in a strong buyer's market right now. The recession of the past decade has made the housing market somewhat volatile, and Boca Raton has not been at all immune to that. However, this doesn't have to be a bad thing for you. In fact, with more foreclosures and short sales than ever, you're quite likely to find that rock-bottom deal that leaves you smiling for weeks afterwards.
When people need to liquidate their property, they're willing to reduce their asking price by leaps and bounds. This is why Boca Raton is a goldmine for anyone with a stable budget; if you know you can afford it, there's prime real estate to be had for extremely attractive prices.
Where Do You Find the Best Deals in Boca Raton?
Thanks to the huge amount of foreclosures sweeping across Florida, you can find houses for sale by the bank that are marked well below their real value – This is called a short sale, and it's when the bank is willing to take an overall loss to recoup at least a portion of their investment. When a bank forecloses on a property, they're sole concern is turn around time; they want to recoup as much of their investment as possible, sure, but they also want to do it as fast as possible. Keep an eye on the market in Boca Raton for a couple weeks and you'll see exactly what I mean.
Condos are another area that could potentially be very profitable for you. The nice thing about buying a condo is that you can find them for under $100K, which is basically unheard of for a house in Boca Raton. Condos are great for the investor because while you're waiting for your property values to spike you can actively recoup your investment via rental.
Important Tip to Finding Your Dream House in Boca Raton
The last thing I want to do is stress the importance of patience when browsing the real estate listings in Boca Raton. You'll be shocked at how many owners will start slashing their original asking price after a few weeks...Sellers feel anxious in this economy and don't like having a listing just sitting around without seeing any interest. So, if you see a house you like, just sit on it a couple weeks. See what happens; you might be pleasantly surprised.
All in all, Boca Raton is an excellent investment opportunity for those who can afford it in this rough economy. A strong buyer's market combined with prime waterfront property and a wide array of country clubs mean you have lots of opportunities to strike gold on the Gold Coast.
NOTICE: Champagne & Parisi is no longer affiliated with Lang Realty. Any references to Lang Realty or LangRealty.com in blog posts reflect historical fact as of the date of the blog posting and should not be construed to suggest a current affiliation.