Florida’s Lead in Completed Foreclosures is Part of An Ideal Investing Environment
Florida is still one of the leading states for pending foreclosures. But speeding up the judicial process have been successful thanks to recent efforts by State lawmakers. Florida was one of the hardest hit states during the foreclosure crisis, particularly because of speculative buying Miami, Orlando and the Gulf Coast.
But Florida now has experienced a decline in foreclosures of almost 50 percent year over year. This is great news. Even better for the market is that cash buyers (investors) have dropped off and retail buyer activity has increased. These retail buyers face some of the strictest loan qualification criteria in decades. Another good thing for the long-term stability of the market.
Florida, South Florida in particular, currently has a very unique environment favorable to investing long term.
- Florida is still one of the top 3 states with the highest percentage of foreclosures in the US.
- South Florida has improving fundamentals and a growing economy, while there’s still a strong downward pressure on prices due to foreclosures and short sales.
- Surpressed pricing + moderate supply + pent-up appreciation = ideal investing environment.
These are just some of the many reasons we love South Florida for investing in turn-key rental properties.