Foreign buyers impulsing the Florida markets.

Tuesday, December 27, 2011

At least six Florida markets made it on the Top 10 Turnaround
Town Report of, the commercial website property of the National Association of Realtors.

Though the effect of foreclosures on the last four years, the strong foreign investment on the area is helping to speed up the recovery in many local markets, including Miami, Orlando, Fort Myers/Cape Coral,
Sarasota/Bradenton and Lakeland/Winte Haven.
Miami. The number one town on the report, Miami has gone from being one of the first victims of the subprime crash to having a healthy inventory that is only half the size from a year ago. Today, Miami is only reporting one foreclosure for every 407 homes, compared to the national rate of one per every 213. And, condo sales have increased 79 percent in the first five months of this year, largely due to an influx of foreign investors.The increasing popularity
among foreign nationals, is creating a mini inflation on demand for this market that will make it harder to find good opportunities.
Fort Myers - Cape Coral. Median prices in Fort Myers-Cape Coral have increased almost 33% year-over-year, according to’s October 2011 Real Estate Trend Data. In addition, foreclosures are d
own–only one in 313 homes in September–while inventory has been reduced and foreign buyers have been attracted to the area’s real estate prices. The metro ranked third on the turnarou
nd report and is still plenty of opportunities for foreign investors. Is a less congested area for investors.
Fort Lauderdale, decrease in inventory coupled with an uptick in prices earns Fort Lauderdale the number five spot on the report. Inventory decreased almost 38 percent year-over-year, according to’s October data report. Prices have fallen about 46 percent since 2006, but are now going up.
Foreign investors are moving positions from the investment markets and Wall Street and taking strong control on the more reliable real estate market.
For more information on how to start investing in Florida real Estate, please contact Fernando Pettineroli, Realtor at

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