If you’ve been reading the papers or following the news lately, you’ll know that the USA is having a few economic problems, to put it mildly. You possibly have had some personal experience of the effects of the economic downturn and the “credit crunch”. The Florida real estate market is also in a slump, with prices dropping. With all this going on, is it sensible to try selling your house?
The answer to this one is yes and no. If you bought a house as an investment, then hold on for a bit before listing your house. Some economists are predicting that the housing slump will come to an end this year, so if you can hang on until then, prices should increase and your investment could very well pay dividends, if these forecasters are correct.
But if you have to sell your property (for example, to avoid bankruptcy or for some other reason – maybe someone’s estate has to be dealt with), then don’t despair of finding a buyer. In the Tampa Bay and Greater Orlando areas serviced by Bahia Realty Group, we’re finding that overseas buyers are rubbing their hands together not in spite of but because of the falling housing prices in the USA. Right now is a great time for overseas investors to purchase Florida property. And let’s face it: the areas on Bahia Realty Group’s books have always been popular with tourists for a whole raft of reasons, ranging from the climate to the theme parks.
The Bahia Realty Group team has contacts with overseas buyers (and if you’re an overseas buyer, we can make the process easy for you), so if you have to sell your property, we can help you make a good sale.
Otherwise, sit tight! The slump won’t last forever.
Jenn Cook