Foreign investors have been sizing up the condo market in Miami in recent months and according to Ethelbert Bascom, the president of Florida Home Sales and Investment (www.floridahomesalesandrentals.com), the housing market is also picking up. „There are more houses and townhouses being built right now than at the same time last year, he says, and adds that this shows that the market is picking up considerably. „But we welcome all positive news of the market,“ he says and adds that there are a few signs of positive developments in Miami right now.
Good profits with high returns
South Florida has always had a strong investing market for foreign investors who see the sunshine state as ideal for investment with the steady demand for Miami condos and good profits from high returns. „As long as people see the area as a good investing option they will come back and the returns will be good,“ says Ethelbert Bascom.
Local market showing positive signsIn Broward County the increase is probably the most noticeable with over 60% increase in new housing projects according to the Metrostudy research firm which was stressed in a recent article by Paul Owers in the Miami Herald. This means that the local consumer is also seeing Miami as a good option for both investment and as a place to stay. „Some community projects will give returns in the near future,“ says Ethelbert Bascom who mentions Coral Gables and the University area as an example of projects of this sort.
Fewer Delinquent Mortgages
Good profits with high returns
South Florida has always had a strong investing market for foreign investors who see the sunshine state as ideal for investment with the steady demand for Miami condos and good profits from high returns. „As long as people see the area as a good investing option they will come back and the returns will be good,“ says Ethelbert Bascom.
Local market showing positive signsIn Broward County the increase is probably the most noticeable with over 60% increase in new housing projects according to the Metrostudy research firm which was stressed in a recent article by Paul Owers in the Miami Herald. This means that the local consumer is also seeing Miami as a good option for both investment and as a place to stay. „Some community projects will give returns in the near future,“ says Ethelbert Bascom who mentions Coral Gables and the University area as an example of projects of this sort.
Fewer Delinquent Mortgages
„Another sign of the community picking up is that South Florida is seeing considerably fewer delinquent morgages this year than last year,“ which shows that the times are changing for the better here in Florida. The community will also benefit from the loan modification plan of the Bank of America, which will ensure that many properties heading for foreclosure will be saved. That in itself, will strengthen the community, and make the market stronger,“ says Ethelbert Bascom finally.
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