On Friday March 18, 2011, CNNMoney published an outrageously one-sided and completely inaccurate report:
http://finance.yahoo.com/news/Nearly-20-of-Florida-homes-cnnm-2507768369.html
"Nearly 20% of Florida homes are vacant"- as reported by Les Christie, CNNMoney Staff Writer. This compilation, (for the lack of better word since it does not qualify as a report, nor it is a story...) of names and meaningless statistics taken out of context, is a rather confusing read. All individuals quoted in this "pile of words" seem to be walking around with a crystal ball, dishing out forecasts that appear to be "accurate", yet they are completely outrageous and non-corroborated by facts! Take this one for example:
"Celia Chen, a housing market analyst for Moody's Analytics, is also downbeat in her forecasts for Florida. Not only will prices fall another 11%, she said, but the bottom won't hit until mid-2012, about a year later than the nation as a whole. Some metro areas won't get back to their pre-recession peaks until long after the present owners are old and gray. She doesn't expect Naples, for example, to come all the way back until the late 2030s. Other Florida metro areas with a 20-year wait or longer..."
Or, this one: "Housing went from being the preeminent investment of choice to toxic waste." added Richard DeKaser, an economist with the Parthenon Group. Wow!!! Mr. DeKaser needs to take a crash course in history and to remind himself what the rest of the world has known for centuries; real estate ownership has always been the most meaningful one; a symbol of wealth and power. "Under all is the land", reads the preamble to the Realtor's Code of Ethics. And this frase along, says it all.
Or, here is a real classic: "If you're buying in Florida for retirement," said Winzer, "maybe you buy next year when prices will be near the bottom. If you're buying for investment -- don't." What Winzer did not give you was the exact date, which is expected to be 12-12-2012!
What happened o using our common sense? Did we try to actually think, even for a brief moment, and try to grasp what exactly prompted real estate to be called "REAL ESTATE"? Why not "BOGUS ESTATE"- as all of those "real" specialists venturing wild guesses about the present state and the future recovery of real estate, are actually telling you it is?
To get the REAL story about FLORIDA REAL ESTATE, here are a few points to ponder:
- Tax benefits of the State of Florida: Florida is one of the only 7 states
without personal income taxation;
- Being a Landlord in Florida is by far better than any other place; domestic and international;
- Florida continues to be number 1 choice on the International market and number 6 for the domestic one;
- Compare what $500,000 buys you on the ocean, SE Coast of Florida, versus Cote D'Azure, or $500,000 in glamorous Down Town Miami, versus Paris, London, Milan, Manhattan?
- Retirees continue considering Florida, before any other place.
- Where else in the US can you enjoy 78F practically year around at such prices?
And, on a final note, there are great deals in every market. However, great deals combined with historically low interest rates, this happens only...NOW.
