Why Florida real estate investments are getting a lot better
Flashing lights and a neon sign are the only way to tell a florid real estate investment from a bubble.
But the real estate market in Florida, once a place of wild speculation and bubbles, is turning out to be far more stable than most investors had expected.
And while some bubbles have popped and others have popped up before, Florida’s real estate boom is one of the most stable in the country, said James Clements, chief investment officer at JCPenney.
Clements said Florida realtors are seeing a new, healthy market for properties and are seeing less volatility than many investors in the state had assumed.
And, he said, they’re also seeing more people wanting to buy and sell their homes.
That, combined with low mortgage rates, means there is less incentive for investors to go into debt and sell.
That’s helping the state’s realtORS, or owner-occupiers, get out ahead.
In Florida, it’s up to the individual to decide whether or not to buy or sell, and many do.
But for the most part, it comes down to whether they can afford to pay a deposit and get a property built.JCPenneys sales, office space and other real estate properties have also been up and rising in Florida.
The average price of a single-family home in Florida is up 7 percent to $1.9 million, according to the latest data from Zillow.
That’s more than double the national average of 3.6 percent, according a recent report by real estate data provider Trulia.JCB Realty Inc. has increased its sales and office space in the Orlando area to more than 6,000 square feet, said CEO Kevin Kavanagh.
That includes a new $3 million, 8,400-square-foot office building at the former Tropicana hotel on Tropic Avenue.
That building, at 3125 N. Orange Ave., is one block from Tropic, which is now a popular destination for tourists and locals.
The hotel is being converted into office space.
Other properties have seen increases.
The new office building of the Chicago-based company Westwood is being built on land the former headquarters of Sears.
The office building will have more than 2,400 square feet of office space, according of the company.
Jenny Smith, a real estate agent with JCPennials office, said the office market has remained strong and that many properties are still on the market for sale.
But she said many people are now turning to local brokers and other buyers, and she said she sees a decrease in sales of properties with low inventory.
For those properties with high inventory, like the new office buildings, it might not make sense to go out and buy.
But if you can’t get a home, you can still sell it and keep your investment.
“That’s where the broker is, and they’ll tell you if they have a house that they’re selling,” she said.
In fact, if you look at the top real estate broker in Florida right now, she said, it is a local broker, which means that she works for a broker.
But the market can change, and the broker can change her mind, she added.
Clement said many brokers and investors are looking for properties that have some sort of income stream that they can reinvest in their portfolio.
That way, they can avoid having to pay taxes on the income generated.
Cars and homes are the most popular types of property to sell in Florida that have been on the markets for a while.
Clements said a lot of those properties have been built with the intention of using them as rentals or living quarters for a family.
The median price of single-story homes in Florida was $1,500 in the fourth quarter, down 6.5 percent from the same period a year earlier.
But those homes are up 14.7 percent in value.
A condo, on the other hand, is up 11.5%, according to Trulia’s report.
The Florida home price index is down 2.2 percent from a year ago, but there is an increase in single- and two-family homes, according the National Association of Realtors.