Re: Investing in Flordia RE - Posted by eric
Posted by eric on March 26, 2000 at 10:21:08:
It just so happens I have a little insight into this particular topic. First, all the previous posters are correct, including the guy who said Fort Myers is the nicest part. Actually, a subset of that area, called Sanibel Island, is probably the nicest non-mountainous part of the Southeastern United States. One walk on it’s seashell-lined beaches at sunset will quell all arguments to the contrary. As for the Ft. Myers/Naples areas in general however, they are mostly overpriced, and only for the idle rich.
It is my belief that the best areas in Florida for Real Estate appreciation are Ft. Lauderdale/Broward/WPB county, Tampa/St.pete/clearwater, and Orlando. I think that it will be almost impossible to lose money buying metro or suburban real estate in these areas over at least the next 10 years. Migratory patterns are firmly established, thousands of families move here EVERY DAY. I also believe Harry Dent, author of the Roaring 2000’s, is completely correct in his discussion of RE appreciation over the next 10 years. The areas of greatest appreciation, in order, will be the southwest, the non-Californian west, then the northwest, followed by the southeast. In the northeast, VT and NH will also appreciate, but remain otherwise stagnant. Ditto the stagnation, and perhaps even decline, for the middle atlantic and the midwest. Though there is much flat land for new growth in Florida, people still need to be within an hour or two of major cities, so the laws of supply and demand should bear this out. In short, you almost can’t go wrong, IMHO. BTW, my own home has almost doubled in value in the last 3 years - though that was with lot’s of sweat equity, in a gentrifying area, market pressures still contributed substantially to this.