I was speaking with a gentleman this morning in a Cocoa, Florida store. I do take every opportunity to discuss real estate - after all, self promotion is the life blood of a full time real estate agent these days! His view of the current market was contrary to any I have heard recently.
His view.... there are benefits to all of these foreclosures and short sales. Ater considering his view I agreed that this may be somewhat true.
His position, put very simply, was that these properties being snatched up at bargain prices with subsequent renovation will be good in the long run. His position that turning the neglected properties into updated properties will be good for some neighborhoods, eventually.
Perhaps this will turn out to be true but there are many more good properties on the market that are in short sale situations where no renovation or updating will be required. These do not fit those conditions.
An interesting position...quite contrary to the general consensus! Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.