A lot of people are concentrating too much on Miami, Miami Beach, South Beach, or Coral Gables for a home investment. If you're looking for a quality home in a good location then you might want to check out the offers available in Boca Raton real estate.
One of the primary reasons why Boca Raton real estate makes for a great property investment is the overall value of the homes there. The city's demographics is similar to that of West Palm Beach -- luxurious and expensive despite the low prices of homes in the city today, the market is currently on its recovery stage so you can be sure that your new home will fetch a good price in the future.
Current Market Yields Cheap Home Prices
That's right; the prices of homes in Boca Raton real estate can be considered as cheap compared to its peak values a few years back. This is the perfect time to make an investment if you're looking for quality homes sold in affordably low price. If you check the values online, you will see that homes with above average quality are being sold below $300,000. So if you have a home investment budget of $500,000 then it's quite possible to get a luxury home or one of the suites in a high rise condo with amazing view and luxurious amenities in the city.
To give you a brief overview on the state of the real estate market in Boca Raton, previously-owned properties from sellers decline in price by 7.7%. This closed the median price of homes under this listing at $300,000 -- which was originally $310,000 on previous months. Foreclosed properties, on the other hand, are seeing an increase in value as the number of foreclosed homes and bank-owned properties dwindle down in the city -- closing the current market price at $260,000 after a 25% increase in figures. New homes don’t offer much in terms of selections and base price of these properties remain stable at $730,000.
One problem commonly encountered by home buyers and investors is that there aren’t too many selections for a quality home investment. Having tons of choices for you to ponder home is a great way to compare selection to end up with a quality purchase. One thing is for sure, there are plenty of choices for you to choose from in Boca Raton real estate. According to current market figures, there are roughly about 6,000 homes for sale in the city -- gives you enough elbow room to look for the perfect home with the perfect price tag.
Foreclosure For Future Profit
If you’re looking into property value for the purchase of a home then Boca Raton real estate should cater well to your wants and needs. A signal is the rise in value of foreclosed properties in the city, almost on par with previously-owned properties from their respective owners. Delving into an investment in the foreclosure market guarantees an increase in price in the future -- and getting it at a cheap price is definitely a good idea.
William W. Teho, Jr.
Boca Raton Real Estate