While Arizona and Nevada are excellent; Texas, Oklahoma and a slew of other states, are relatively stable. It’s Florida that embodies the post-recession sweet spot.
The home prices in Florida markets are still way below the bare construction costs. Even though there is steady price appreciation, values are still very attractive relative to new homes. We have already touched upon the reason: the foreclosure process in the state of Florida is judicial and has been extremely slow. As a result, the flow of homes into the marketplace is more steady than in Trustee Sale markets.
Despite the great demand, this balancing out of the supply of homes has created a more tampered growth environment for the state of Florida. Many great markets will emerge after the recession effects wear off. For now, the sun shines on Florida!
Don’t forget to visit us at our incredible 1-Day Expo THIS SATURDAY, March 8th, near the San Francisco Airport. Details are on our website: www.icgre.com. We will have rare speakers, tons of education, lots of Q&A and many experts present. In addition some of the hottest markets in the nation will be represented. A day not to be missed!