What is In Store for South Florida Real Estate In 2008

By: Kris Koonar

When we speak of South Florida, it refers to the southeastern part of Florida State comprising of the counties of Miami-Dade, Broward and Palm Beach, which include the Gold Coast region. Real estate strategists are of the opinion that the real estate market in Florida is going to be very profitable in the year 2008 even though this market has experienced some problems during 2007. The rate of mortgage closure during this period was quite high; however, experts analyzing the market agree that 2008 will definitely see a turn around although with some price adjustments during the early part of the year.

Beginning 2008, investing in South Florida real estate is going to be a wise move. Boca Raton, Fort Lauderdale, and Pompano Beach and other areas that have already been booming real estate investment havens since the last several years are expected to continue following the trend.

Broward county real estate investment is said to have very good potential for growth because of many reasons. The Broward County School District is the fifth largest school district in the US with an extensive network of schools, colleges and universities with a large student population. The county also has one of the largest public library systems in the country. Due to its beautiful beaches, excellent weather and a government that is tourist friendly, it is a popular destination encouraging a regular influx of domestic and international tourists. More students and tourists with housing needs cater to a flourishing real estate market.

The Miami-Dade County, more commonly referred to as just Miami is another excellent place for making a real estate investment in 2008. With provisions for all modern amenities to cater to people's benefit and extremely advanced infrastructural facilities that include highly developed transportation systems leading to easy and heightened connectivity to all states, it is a favored destination for people to settle. There is a street grid stretching from Miami throughout the country since over half a century. More that 16000 single family homes and over 25000 condominiums available for sale along with predictions for a boom in the real estate market in 2008 presently categorize it as a buyers market. Now is the time to buy one of the picturesque houses in Miami before the opportunity ends with the approaching New Year.

Palm Beach County offers great investment property by way of beautiful waterfront condominiums in Palm Beach along with other property. The place derives its name from the multitude of palm trees and beaches in the area. Due to the fall in Palm Beach county property prices, it makes sense to invest in real estate there keeping in view the expected up trend during 2008. Another good way for real estate investment in Palm Beach County is to buy foreclosure property. It is now easy to locate such property, as many agencies provide daily reports on all foreclosure listings in Palm Beach County for a little fee. This can let you directly contact a seller to negotiate a sale before the property is sent for public auction.

In view of the general fall in real estate prices in the country, making a real estate investment in profitable areas like South Florida can provide a positive growth to your investment in 2008, which you can expect to be good if it not spectacular.

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