Sarasota Real Estate Market News

More are renting in South Florida as international investors snap up distressed homes

By choice or by force, more people in South Florida’s foreclosure-ridden housing market are renting, rather than owning, their homes.

In an ironic twist on economics, that dynamic is actually helping the resale market. According to sales reports released this week, South Florida is on track to set a new sales record this year.

The reason: investors.

The majority of today’s homebuyers are not first-time owners or growing families, but opportunistic investors. International buyers and locals with cash are making money in the region’s distressed market by buying up foreclosed homes and turning them into rentals.

Read more HERE

October 27, 2011 - Posted by | News related to Investors, News related to the Market

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