In the aftermath of what many considered the most devastating recession in this country since the great depression, opportunities to buy and invest in real estate are many; and the prices at which land, homes and investment properties can be bought are at all-time lows in many markets. Such is the case in Florida, where properties – especially those referred to as high-profile – that were once beyond the reach of many buyers, are now available at drastically reduced prices as a result of an overabundance of them.
Whether or not the reasons for such cheap prices are logical, the fact remains that prospects for making the deal of a lifetime on a piece of Florida real estate have never been better; and despite ongoing conjecture and rationalization from some pundits and so-called experts, the fact remains that there are peaks and valleys that exist in most free market systems. The supply and demand phenomenon drives market fluctuations and, as such, creates ups and downs, as well as winners and losers.
Those who were active in the real estate and/or mortgage business in the 1980s will recall that the function of supply and demand has been in full swing over the last two and a half decades. From the latter part of a 1980’s decade which began the explosive increases in real estate values, to the nineties decade when values peaked, and through the 2000’s decade when market prices again exploded (due to the availability of easy subprime money) and the result was what we now refer to as "the great recession."
It is safe to say that during the build-up to this recession many businesses and individuals amassed great wealth, some in real estate and a significant amount in stock markets from New York’s Wall Street to London’s FTSE (footsie) and Japan’s Hang Seng and Nikkei, as well as other markets throughout the world. In fact, there was pride and elation shared by many in the country – including a former president – who believed that the rate of home ownership being at "...an all-time high in America" was a good thing; and from those who participated in wealth building during that pre-recession period, complaints were almost non-existent.
That having been said, the fact remains that there was a mortgage crises which led to that recession and American home owners lost Trillions of Dollars in the form of equity (wealth) from their homes as a result; but differences between the build-up and subsequent crash of the market seem to indicate that, had the market been left to its own catalyst of supply and demand instead of being driven by artificial means (influx of easy money like, zero down payment loans, no income or asset checks, etc.), the crash and recession might have been avoided.
Today’s market conditions merely reflect the result of activity which had taken place before, and for many prospective buyers this may be the best time to buy, whether they have an interest in a home, investment property or a piece of land in Florida. Some of the best deals to be gotten may be on land lots which are currently priced at ten percent (10%) of their pre-recession values, including lots with close proximity to popular and beautiful Florida beaches. As this market with the low prices and affordable prime properties was made possible by the crises of recent years, it makes sense to seize the opportunity presented here, since it is uncertain when bargain prices such as these will be seen again, if ever.