About Florida Foreclosures

 

If you are looking for a good investment in this uncertain economy you may want to look at investing in foreclosed properties as interest rates are at an all time low and the stock market is no longer a safe bet. Real estate is an investment that most people understand, you purchase a home fix it up and sell it. It is as simple as that. Foreclosed homes offer the buyer the opportunity to purchase homes for as much as 40% of the market value. The current market conditions are making now a  perfect time for a small investor to purchase one or more Florida foreclosure properties for their private residence, rental or resale.

The traditional view point is that most foreclosed homes are from poverty stricken, high crime areas. This is inaccurate as during the economic downturn more upscale and beach front homes go into foreclosure as affluent people are being laid off.

While you can find Florida foreclosure homes for as much ass 40% off you more commonly will see homes at 5% below market value. You can rake in additional savings if you purchase the mortgage directly from the lender. To get rid of the property the lender may be willing to waive some of the closing costs or offer a break on the interest rate in an effort to sell the property.

If you are just beginning to invest in Florida foreclosure properties you should take the time to learn about the Florida foreclosure process so you know what you are getting into. It may seem like a lot but the time and effort you put into research and prepare for investment can translate into savings for you.

Florida foreclosure occurs when a property owner falls behind on mortgage payments. Many of the owners of these homes have gone through a long period of financial instability. Most likely the homes have not received general maintenance for some time and can have issues ranging from missing light bulbs to leaky roofs.

While the buyer may be able to get these homes at a bargain rate you have to factor in the costs to fix these issues and factor it into your offer.

The safest deals by far for inexperienced buyers are bank owned properties as there are no risks. There are no taxes no leans and no tenants to evict.

Not all foreclosed homes are previously owned properties, some foreclosed homes are brand new. Most of these homes will not be on a list and are not referred to as foreclosed homes. The slow economy had left builders with homes that at the end of the construction period they have not been able to find buyers for.

More experienced buyers can find buyers in pre-foreclosure. The buyer would need to find  a home that is about to go into foreclosure. The homeowner does not want to loose the equity in their home, so they will accept a portion of the difference between the equity and the homes market value. This requires more persistence as the buyer is most certainly being hounded by the lender and may have other legal problems and may still be living in the home. This is a high risk high reward investment and should not be taken on by a first time home buyer.

There is also the option of purchasing a foreclosed home at an auction but since there is little or no time to inspect the property before bidding on the property, you may be walking into a problem.

With good credit most banks will finance you the full amount of the foreclosed home. For Florida rental properties the banks may require a down payment.

If you buy a foreclosed home in a good area it will appreciate in value. With the rest of the economy in a bad state investing in Florida foreclosures can be the best alternative.

Interested in investing in Florida foreclosures? Click here for current listings.

Why Miami Real Estate is Still a Good Investment

As we all know property investment is always a good idea, popular cities are ever growing and always provide new ways of attracting fresh business and new real estate buyers. Lately it has become even more evident as larger cities continue to grow well beyond their original limits and incorporate what may have once been considered an uninhabitable location into prime real estate property.

In Miami, for example, the much maligned downtown area which suffered from both high crime stats and poor housing has now become the city’s performing arts district and education hub. Fashionable luxury condos have now taken over the area with gorgeous views of the bay and their own entrance to and from the famous Miami beaches.

Older landmarks like the Miami Arena, the Omni Mall and hotel have been shut down or demolished to make room for planned new developments and to accommodate the ever growing downtown inhabitants in what is now a major metropolitan district. Areas which were once filled with crumbling homes and outdated businesses have been bought up and developed into thriving districts with multi-national shopping areas with merchants from all over the world.

You may ask yourself; how does this affect me?

Consider how several years ago the real estate market bottomed out for some and their unfortunate luck became an opportunity for others. Right now Miami is again going through growing pains even in this down market, places like Calle Ocho, Aventura, North Miami Beach and several other Miami areas are now being remodeled after city districts with better traffic routes, being provided tourist venues and  popular nightlife. Investing in your own luxury condo in Miami may feel a little risky, but considering city growth and population it would only be a matter of time before the investment pays off. Also consider if you want a family condo with a pool or a playground or a luxury setting for yourself, there’s plenty to choose from.

Retirees, who were often thought of as the only inhabitants in these areas, are now leaving for locations more in-tune with their ages and fixed incomes; since Miami has boomed back into the Caribbean dream spot it once was. Meanwhile due to the perceived downturn in the market, their homes are listed for sale for weeks if not months at a time, in prime locations near and around the City, where future development is already being planned. Most are being replaced by condominiums of every kind to satisfy Miami’s new growth spurt.

Calle Ocho, Kendall, Cutler ridge, Hialeah and Homestead have been scheduled as links in a chain of remodeling the city has had planned for years and luxury condos have already been built and are awaiting the right person to live in them. Coral Gables, South Miami, South Beach and the downtown Miami district have already begun and in some cases finished their own makeovers, providing spectacular condos with great investment opportunities.

Even with the downtrodden economy and somewhat tentative times, the city planners and commissioners have seen way too much growth to turn around and have these parts of the city go undeveloped. Housing has always been the life blood of this city and has not stopped, just paused to catch its breath, progress in the right direction and become what it is today.

Most of these areas which needed better traffic routes will soon have new extensions for their highways which will in turn bring more people into the district to spend their dollars without the constant worry of traffic congestion or improperly placed off and onramps. Housing has seen a drastic change from the small apartment buildings with little square footage and no views to new and expansive family style condos, built with fitness centers and at times within walking distance to markets and restaurants. Casinos, race tracks and farmer’s markets are again finding their way into the area as well and reestablishing themselves providing much needed commerce for once struggling merchants. This is all happening in what were once deemed strictly Latin neighborhoods with their own culture, language and little if any investment value. Only now they have ample selection of Outlet Malls, remodeled public schools and business properties, all the while still retaining their Latin & Caribbean culture.

Area hospitals are again garnering respect as cutting edge in treatment and prevention, malls which in hard times were plagued by petty larceny and theft are now being controlled by local police who are ever vigil and familiar with the area.

Kendall, Cutler Ridge, Hialeah and Homestead have trains to and from the downtown art and sport venues, the beaches of Key Biscayne, the nightlife of Coconut Grove and the well known area universities. Calle Ocho-known to most as “little Havana”-is a stone’s throw from any of the cities attractions and popular areas, still has a wonderful Caribbean flavor and hosts a yearly carnival known worldwide. Beautiful condos line their streets with incredible views, local cafes, international food markets and recreational parks.

Condos in both pre and post construction mode are available, affordable and provide the city views and locations which so many in the past have dreamed of. Forget the small Art Deco style apartments which once populated the beaches with few if any having full views of the ocean, now you can have the ocean air blowing into your balcony along with the gorgeous views you have always wanted. If it’s not the ocean which calls your attention, get that Downtown Condo with a view of the Port of Miami or the bright lights of the city itself. In any case it’s the stuff dreams are made of well within your reach. Buying now will certainly save you from seeing that dream view disappear due to costs and provide you that much needed future investment you want. For information on how to purchase a luxury Miami Condo please contact the professionals at International Sales Group. For more information about relocating to Miami, please see http://miami.about.com/cs/weather/a/aa042802a.htm

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Welcome to Our Blog

360 Harbor Island Right on Biscayne Bay - Biscayne Bay offers some of the most beautiful beaches great fishing shopping and beautiful national parks.

Welcome to the official blog of International Sales Group. We specialize in the sales and marketing of luxury condominiums. We have properties in the US Mexico Puerto Rico and Panama. We represent developers and investors alike.

We are passionate about what we do and hope you will enjoy our little place on the web. If you are looking to buy, luxury condominiums in the US or desire to retire or invest in a beautiful luxury condominium in Panama , Las Vegas, South Florida or Puerto Rico please feel free to check out any of our extraordinary luxury properties for sale.

We currently have investment and luxury property ownership opportunities in the following US and Latin American cities

• Las Vegas
• South Florida – Miami, Aventura, Miami Beach, North Bay Village
• Louisiana – New Orleans
• Panama – Panama City, Panama
• Puerto Rico

For a complete listing and pictures of our properties please visit our homepage www.isgworld.com