Investors looking to pick up properties at 35 to 50 percent discounts off previous asking prices need to look no further than parcels within the Miami real estate market. Statistics show that Miami-Dade has the country’s largest inventory of unsold, unoccupied condo projects, with 25,000 sitting for sale. That’s a five year supply at current purchase rates. Plus there are another 19,000 units at some stage of approval or construction.

Unfortunately, many condo projects are tied up in litigation, which can complicate the ability of owners or developers to close deals. Plus financing is much harder to negotiate. Most banks have lists of local projects where they won’t lend under any circumstances. Private mortgage insurers have left the Miami-Dade mortgage market, citing the inability to build profitable portfolios..

Cash is king when buying a home or Palm Beach condo unit. High leverage loans are mostly unavailable. So, investors with cash can acquire units at half the previous price.

A perfect waterfront community, The Addison Condo offers 170 fabulous units amidst the two towering condominiums that are simply sensational. Caesar Parisi is available to help you be an informed home buyer or home seller in today’s changing Boca Raton real estate market.

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