"Time to Buy?"

Great article from Assetz^® Property News Service:

http://tinyurl.com/cvj4vq

..."According to Business Week, the latter is a likelier scenario. The news provider suggested: "From European hot spots in Croatia and Montenegro to less exotic investments in Florida and the south-west US, now may be the right time to buy." It reasoned that lower prices are making the difference, quoting head of international residential investment at Savills Charles Weston-Baker. He stated: "Where people can get a good deal, they're grabbing the bargains. Price falls are putting property back within the grasp of investors."

This may indeed be the case for Florida, where, for example, the Orlando Sentinel recently noted that there has been a large increase in sales in the city, with half of these either being foreclosed properties or ones that have been short sold, which means the bank will accept a price less than the mortgage is worth. Local realtor Patrick Higgins told the paper that lenders have become "more responsive" to such possibilities.

Nor is the story of what is happening in the city merely anecdotal. The Orlando Regional Realtor Association figures for housing transactions in February of this year showed a 28.1 per cent rise on the same month in 2008."...