New Condos Online's finance and consulting division, NCO Capital, represented at the Distressed Real Estate Conference in Miami this week. The show was a great success for all in attendance. The best part about the conferences and the most valuable goal is the educational factor. Real estate professionals, condo developers, consultants, investors, and agents attended the show to learn more about the coming months and years and how to weather the volatile housing market.
As most of us know, distressed real estate concerns homes, condos, and development projects that are in financial disarray and/or having difficulty moving product. A market such as this sets a great foundation for condo investors to buy at a discount and utilize some creative exit strategies. The builders do not always win in this scenario but there are great opportunities for both the condo builders and buyer/investors to get what they need.
Over the next year there will be a multitude of condo investments on the market to buy in bulk or as single unit opportunities. This is why investment groups and developers alike are raising capital and starting their own funds to purchase distressed real estate while the price is right. In my opinion, there will continue be buying opportunities for savvy condo investors throughout the rest of the year and into next year.
Let us not forget however about all the great opportunities in the world of new construction condos. As the Fed continues to lower rates, buyers will have increasingly good financial options to lock into. Low rates couple with slightly lower prices creates a win-win for all buyers...and the agents representing them!
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