Sep, 03 2012
The end of the year 2012 is on the horizon
This was a great year for real estate in my opinion although I am no economist.
Many of my investors properties appreciated well over 10% but were caped from property tax increases on value increasing over 10% due to fairly new state laws.
This stabilizes investor costs and rent increase for tenants as seen in the past; and did I say returns of over 10% this year.. think about that as a a change!
Speaking of change we had according to MLS data over 30,000 properties for sale in Broward county for well over 5 years now.. today last I looked its 6,000 our inventory has dropped significantly, put that with supply and demand and what do you think will happen to prices.....
Investors were the main buyers I found out there, they bought cash, although banks area again loaning to home owners....
They all bought at a low price point so meaningful wealth building I see for the buyers in the future.