|
The Current Market (May 2008)
Port Saint Lucie has seen annual price rises of around 20% per annum over the last 3 years. The house prices have now stalled
and eased back with the "credit crunch" situation. There is also a glut of vacant unsold houses which need to be sold before
the market will move upwards again. This has lead to the amazing deals that you can get on land and property right now. The
longer term outlook is still good because of the great location of Port St Lucie. Land prices have dropped way back so there
is a great opportunity for capital growth with very little risk. New house building has now almost stopped, this will clear
the backlog of vacant homes and should restore confidence. According to the PSL news Oct 25, home prices are still falling
(17% over the year) but that only means the growth potential is even greater when it turns round, dont miss it! THE FED DROPS
INTEREST RATES AGAIN! House sales are still sluggish at the start of 2008 but there is a definate upturn in the rental market.
There is still a large inventory so rental prices are still low but the tide is turning. The Fed has cut rates 7 times in
8 months, now 2%, should be interesting to see what happens. We estimate that the dollar will go no weaker but the pound probably
will, SO NOW IS THE TIME TO BUY
|
