2011 was such an interesting year for the South Florida real estate market as various trends were noted by experts who had kept their eye on the struggling market which had experienced a rise in sales volumes, drooping prices, and such a strong demand which was particularly coming from international property buyers — many of whom were willing to pay in cash.
Beginning with the incredibly strong demand from international property buyers, it had definitely been a very promising trend for the South Florida who had found the volume of sales leading to over $3.5 billion worth of cash which had been spent by these property buyers on real estate that they were able to acquire from the property market at bargain rates mostly due to the fact that many of these deals had involved foreclosed properties.
As far as the foreclosure issue is concerned, the numbers continue to grow which now sends off a clear indication that more and more people will indeed find it to be in their best interest to take advantage of the great deals which are being made available at the present time. Should the issue on foreclosures keep going at a steady pace, the chance for people to purchase bargain deals could very well extend further out into the future.
Now, when it comes to the actual property prices on the real estate options that are found on the South Florida real estate market, people can expect prices to go up as growing sales have led to a shrinking inventory which, in accordance with the laws of supply and demand, push property prices up.
Alongside the growth in the number of sales and the fact that the current inventory is shrinking, there is worry of yet another wave of foreclosures which, as mentioned earlier, could mean that property buyers will have even more opportunities to own South Florida real estate properties at discounted rates. Of course, such opportunities are sure to be made note of by many of today’s investors which come from all around the world which is why it is also expected that 2012 is sure to bring even more foreign activity as all signs point to yes on the property market.
If you have been thinking about what opportunities await you on the South Florida real estate market, you will have many different aspects that you can look at in order to find out whether or not it will be in your best interest to act upon these options at the moment. Nevertheless, 2012 is looking to be another interesting year as people look forward to learning how things will unfold in the upcoming months.