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Florida Real Estate Gets Affordable

Finally after years of bad news about real estate, there are slight signs of good news emerging. One such sign is that property values that were through the roof have come down, making houses affordable for people who didn’t have a shot in the last few years.

Palm Beach County, on the Treasure Coast, is one such place bursting with opportunities.

nvestors are beginning to smell opportunity in the flood of foreclosures in Palm Beach County and the Treasure Coast. Lenders filed 1,951 default notices in Palm Beach County in March, down from 2,175 in February but well above the March 2007 level of 940 foreclosure filings.

John Freeland, head of Palm Beach Realty Advisors in West Palm Beach says he has been snapping up foreclosed properties for half the price they sold for two to three years ago.

“If anyone is looking to invest, definitely right now is the time,” Freeland said. Freeland recently bought a Lake Worth duplex for $82,000, and he’s scouring Port St. Lucie for homes that once sold for $200,000 but now are available for $80,000 or less.

Now might just be the time for savvy investors to get in on the latest Florida real estate gold rush.