The American state of Florida has been one hardest hit by the credit crisis in the US, and it has also been one of the most talked about too. In part this is because many Britons are familiar with the destination because of its massive tourism appeal, and in part this is because there has simply been a shocking number of foreclosures in Florida.
The media focus on the dire state of the housing market in Florida has raised awareness of the fact that there are now bargain basement homes available for sale as repossession properties – and according to one UK based property spokesperson, buyers are snapping up spacious villas in Florida close to the main attractions for less than £50,000!
If you’re wondering how you can get a piece of the action and acquire your own excellent long-term investment real estate asset, here’s how to buy foreclosure property in Florida.
You visit the foreclosures expo website and you register your interest! Yup, it really is pretty much that simple! Because there are so many houses and condos being repossessed in Florida at the moment as homeowners fail to meet their mortgage obligations and second homeowners have to let go of their holiday or investment properties to consolidate and keep their own roof over their head, so a special expo has been arranged to offload this excess property stock.
Normally foreclosure properties are listed by specialist agencies and accessed by in the know investors – but the case in Florida is very different today. As stated, such a huge volume of property has been repossessed that there is a need to market this property to a much wider audience – this is fabulous news for the likes of you and me! It means that, thanks to the expo, you can see listings of the homes for sale by banks, you can meet vendors about to be foreclosed upon who may be willing to accept an offer on their home, you can set up appointments with selling agents and you can learn all about profiting from foreclosure property.
The event is not one big auction – it is a chance for the general public to see the sort of real estate that has been foreclosed upon. It is a chance for the general public to learn from seasoned investors who buy up repossession property, all about how to make a purchase work for them. It is also a chance, as stated, for interested parties to begin the process of finding a suitable and suitably cheap house for sale in Florida.
Florida has lost none of its tourism appeal, and indeed, it has lost very little of its major investment either. Big developers and investors are well aware that the near-perfect year-round climate that the state enjoys, the theme park attractions, many golf courses and superior holiday facilities mean that Florida is an evergreen holiday destination. Therefore, they are continuing to plough money in. For a buyer like you or me this means that we can either buy a property safe in the knowledge that there is waiting short-term tenant demand on an on going basis for an investment property. Or, it means that we can buy a stunning second home for very little cash down and enjoy it year in year out – and enjoy all the benefits and attractions of Florida too.
The expo is taking place at the International Plaza Resort & Spa in Orlando over the weekend of the 7th and 8th of Feb – and it is being repeated over the weekend of the 6th and 7th of June. If you want to find a cheap yet fantastic Floridian property – now’s your chance to do exactly that, and with expert help too.