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Friday, April 03, 2009

Even the real estate market needs vultures!

I posted this on my other blog, this afternoon. I modified it a bit but wanted to put it on here as well. We need real estate investors to return to the Viera and Rockledge, Florida market!

I was out this morning early to take photos of a property in the Capron Ridge subdivision of Viera, Florida. As I was returning to the office I noticed a buzzard feasting on a diet of carrion. In some places, especially down south, it is also widely known as road kill! I thought…this is not a pretty site but it must be done.

The housing market has a bit of carrion itself – carcasses of dead deals (foreclosures and short sales). And it is not a pretty site but must be done.

Enter the real estate investor. By metaphorically referring to investors as Turkey Vultures, I do so with respect for the task that must be done.

So, as the prices have dropped and the foreclosures, short sales and inventory of distressed properties has risen, I say “get to work, investors – it is not a pretty site!

If you are a real estate investor looking for some attractive deals, Viera and Rockledge have some really nice opportunities. Of course, only you know what capitalization rate you lust have to get your desired return. I am only suggesting you look look in the central Brevard County area.

Gary Waters, Century 21 Baytree Realty, Rockledge, Florida.

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