From: "Robert Morrisette" 
Newsgroups: misc.invest.real-estate
Subject: Re: Florida real estate
Date: Sat, 19 Feb 2005 23:44:18 GMT


"Biwah"  wrote in message
news:BE3CB0FD.55539%biwah@hotmail.com...
> On 16/2/05 10:15 pm, in article 4213bff9.593721506@shawnews,
> "user@127.0.0.1"  wrote:
>
> >
> > The above article of information is from www.business2.com
> > It was stating the Top 20 Boom towns in USA, and the reasons for it.
> >
> > Job demand will favor the "haves" -- the most skilled, best-educated
> > segments of the workforce -- over the "have-nots" in low-skilled,
> > low-impact, rote positions.
> > Vegas will be attracting the 'have-nots'.
> >
> > The 'Creative Class' are the 'Knowledge Workers'.
> >
> > Above all, the information posted is a good reference point to the
> > future demographics of the area. 2/3's of investments are based on
> > demographics. That is how to identify the growth markets of the
> > future.
> > Demographic change is transforming family and other social
> > relationships.
> >
> > Are there 5,000 people per month buying homes in Vegas?
> > Are there 5,000 people per month renting homes in Vegas?
> > Are there 5,000 new dealer jobs being offered each month in Vegas?
> > How many people per month are moving OUT of Vegas?
> > What are the demographics of the 5,000 people per month that are
> > moving into Vegas?
>
> Being an absentee landlord bears risks in and of itself.
>
> Even markets which have been consistently profitable change over time, get
> more competitive, hold traps for the unwary. See the FT article about the
> narrowing of margins for buy-to-let in the UK. It's no longer possible to
> make a profit buying "off plan" from developers in the UK -- which is
> exactly why developers are now offering a "guaranteed 6%+ profit" -- but
> what do you do after the two-year honeymoon is up, the property hasn't
> appreciated, and mortgage rates on your ARM have gone up?
>
> One can move to short-term letting of studios and one-bedroom apartments.
In
> any market, those hold the least risk.
>
> But I have to smile when I see people touting particular cities and
regions.
> It's true that Florida and Nevada are one of the most durable profit
centers
> for real estate, and have been for decades. But money is made and lost
> everywhere. The greatest danger is to buy where you don't know the market
> and have to rely on "experts" who have agendas of their own. And, worse,
if
> you have to rely on agents. There have been numerous scams where firms
offer
> the whole buy-to-let package. And your house/apartment winds up vacant, or
> trashed, or with a sitting tenant who won't/can't pay, or in foreclosure.
> Bankruptcy courts are full of people with shattered dreams.
>
And "Nervous Nellies" say "I should have bought that property."