BEST ANSWER
FIRST ANSWER
Now is a great time for Real Estate investing in the Vero Beach area! Recently Vero Beach was selected as one of the top areas in "undervalued Real Estate". There are many bargains, and the selection is great, so investors and first time buyers are taking advantage of this very rare opportunity.
Many investors and first time buyers are quickly buying the least expensive homes. Sometimes there are multiple offers on some of the very well-priced homes on the lower end, and they will actually sell for more than the asking price. This is especially true of some of the "short sales".
As an investor, I think I would be looking at investments which seem to have been ignored by other investors. One of these areas are the very well priced condos. Right now you can purchase a 1/1 condo for around $30,000! I recently sold a very nice 2/2 on a lake for under $80K. Some 2/2 oceanfront condos have recently been selling in the high $100,000's. You can also purchase a large oceanfront luxury condo for under $500,000 (These luxury condos sold for $800,000 several years ago). I like oceanfront because of the limited amount of oceanfront space. Another area to seriously consider is homes in the $140K to $250K price range. You can buy a great home in this price range. Many sold for more than twice the asking price several years ago. Lots are also a great buy.
Do you live in the area? I would be very happy to help you in any way that I can.
Regards,
Mary Wanzer
772-359-9706
Tue Jul 7 2009, 04:49