What is happening in our market today?

By josephine on Jan. 22, 2009.

What Can You Buy With $100,000 in Today’s Real Estate Market?

Today, it is extremely common to find ourselves in a middle of conversation about the current financial crisis, but it also seems to be a bit contradictory that in the same conversation we also hear that today is the time to buy. We assume that during a financial crisis no one is buying much of anything; however Warren Buffet, Chief Executive Officer for Berkshire Hathaway, says that the time to buy is when everyone else is too fearful to do so.

When it comes to Miami or Miami Beach, “the epicenter of the real estate boom and bust”, buying properties is indeed a good investment now. It has been for the past couple of years, and now we are seeing that people interested in purchasing income properties, can actually cover their mortgage and expenses with the rent itself. So, how far does our money go today?

Our company’s chief executive Officer, Ron Shuffield, a highly knowledgeable person when it comes to South Florida real estate, appeared last week on Nightline to discuss about our real estate market and how far can $100,000 take anyone. During his interview Ron cites: “With the economy today, there are opportunities for people to buy at prices that people didn’t dream, even two years ago, that they would be able to see these kinds of prices.”

We have being hearing about the amazing buying opportunities that will be available since the bust of the real estate bubble 2 years ago. Some people have already taken advantage of such great deals, but some are holding back waiting for prices to keep on dropping to finally buy their dream house. I strongly belief the time to buy is NOW! Just as Ron mentions in the interview, the prices in today’s market are truly amazing. The dream of owning a house is finally achievable for many families and this is something we need to take advantage of.

As you will see in the video, the houses that are selling for $100,000 today are brand new ones; some in private enclosed communities and some even with a pool in their backyards. Opportunities like the ones shown in the video are found throughout South Florida. Bargains can be found even in our beloved Miami Beach. I thought it was a great interview and decided to share it with you. I think is definitely worth watching and hope you enjoy it!