Over the years Florida real estate has really gotten a lot of bad press and for reasons many realtors simply can’t imagine. There was a time when some of the prime real estate throughout the state was a bit pricey, but there is still a great deal of real estate on the water that is not only affordable, but downright ‘cheap’ in comparison to many areas of the country. Those living in and around Jacksonville may not as yet believe this based on recent news stories, but the truth is, Florida real estate can still be bought for a proverbial song and a dance. Numerous wonderful options are available, not just for tourists like Capital Resorts Group Reviews but for everyone.
Remember the Real Estate Mantra
The one thing that many people need to understand is that living in big cities, anywhere in the world, is going to be more expensive than in the outlying regions. This is true of Florida as well. Jacksonville, Orlando, Miami, Fort Lauderdale and Tampa are obviously going to fetch higher prices in real estate than towns like Tarpon Springs and Dunedin, which are all smaller communities. When you hear that a certain property sold for a huge price, the first thing to consider is exactly where that property is located. Remember the real estate mantra – location, location, location. This is why those properties sell for so much.
Large Properties Fetch More – Smaller Properties Fetch Less
In recent news in the Florida Times-Union, two huge properties sold for more than $20 million, one of which sold for almost $65 million. So, at first glance, it appears as though Jacksonville has some of the costliest property in the nation. However, those are large apartment complexes that, if managed properly, will see a huge ROI (return on investment) over time. Rentals and purchase prices continue to rise, so investors will indeed see their investment returned many times over. However, the key to the whole equation is in terms of where that property is located in terms of size. Jacksonville is a big city and apartment complexes will therefore fetch a big price. It’s simple logic, really.
Finding an Affordable Home in Florida
Tens of thousands of people seek affordable homes in Florida each and every year. Some are successful and some aren’t but the problem just might be that they don’t understand a few tricks of the trade. Sometimes it pays to go through a real estate brokerage and other times it is better to look at the ‘For Sale by Owner’ ads. Even then, there is an even more affordable way to find great prices and that is through home auctions if you are represented by the right firm. Some home auctioneers operate in all 50 states and are thus able to find and bid on the property of your dreams. They know the procedure and if acting in your stead, they can bid based on the parameters you have set for them. Home auctions have made it possible for millions of homeowners in the United States to afford properties that they would never have dreamed possible.
The moral to the story is to forget what you read in some stories because the information may not be pertinent to your goal. When seeking an affordable single family unit, it doesn’t pay to read about the sale of a huge apartment complex. Those figures will simply scare you away from buying when you could have gotten a great deal in a buyer’s market. The truth is, Florida really does have some of the most affordable waterfront homes in the nation and they can be found if you know how to look.