2006 is a year that the vast majority of the residential development community would like to forget. Inventories grew as the market slowed to a crawl. The unfortunate combination of increasing supply and restricted demand created one of the strongest Buyer's markets in recent history and all evidence points to a continued sluggishness in sales for the coming year.
So we are now entering the absolute best time to buy as not only are prices coming down but developers are willing to offer substantial incentives in order to move their inventory. These incentives can come in a variety of forms, from a year or more of HOA's paid, to cash back at closing, cash back after closing, guaranteed rental of your unit for a year or more, club memberships and even cars! A developer in West Palm Beach recently offered a lease on a brand new Mercedes for closing by a certain date!
This means that in 2007 the savvy investor will be able to secure excellent deals by finding developers that are willing to offer more incentives in order to move their inventory. Since we have been following this trend for some time we have been able to find and negotiate some incredible deals for our investors. Some of you may have received our emails on a deal we have in Tampa that we are getting at 20% below market! We will continue to focus on the incentives that the different developers are offering and provide them for you here. The market is down right now, this is the time to get the best deals and buy low because as history shows us, it will not stay down for long.
So we are now entering the absolute best time to buy as not only are prices coming down but developers are willing to offer substantial incentives in order to move their inventory. These incentives can come in a variety of forms, from a year or more of HOA's paid, to cash back at closing, cash back after closing, guaranteed rental of your unit for a year or more, club memberships and even cars! A developer in West Palm Beach recently offered a lease on a brand new Mercedes for closing by a certain date!
This means that in 2007 the savvy investor will be able to secure excellent deals by finding developers that are willing to offer more incentives in order to move their inventory. Since we have been following this trend for some time we have been able to find and negotiate some incredible deals for our investors. Some of you may have received our emails on a deal we have in Tampa that we are getting at 20% below market! We will continue to focus on the incentives that the different developers are offering and provide them for you here. The market is down right now, this is the time to get the best deals and buy low because as history shows us, it will not stay down for long.
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