Foreign investors and lenders aren’t the only ones to turn bullish on U.S. real estate. Distressed asset investors all over the country are snapping up properties at bargain prices.
For example, sales of Southeast Florida condominiums and single-family houses jumped 17 percent in November from a year earlier, according to the Florida Association of Realtors.
Buyers snagged bank-owned properties, foreclosures and homes from owners willing to sell at deeply discounted prices.
“We have been predicting for some time that the number of South Florida residential transactions would surprise most people,” Peter Zalewski, principal of Condo Vultures, a real estate consulting firm in Bal Harbour, Fla., said in a statement.
“Early indications are that the December closed sales numbers will be just as strong as November’s if not stronger. We are getting reports that many all-cash buyers are moving into the market.”
Buyers closed on 1,623 condos and houses in Miami-Dade and Broward counties in November, compared to 1,391 transactions a year earlier.
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