The New York Times has been coming through with some good (relevant) articles for boomers relocating or buying second homes. Today, they tackle the process of buying a new home or condo before its built.
“Buying into a development before construction has begun is not a new phenomenon, but with the slowdown in the real estate market — and in condo sales in many areas — the rules are changing. A few years ago, the incentive to condo buyers was clear: You would buy early, sit back and, by the time the building was in place, be pretty certain that the unit’s value had increased substantially. But the days of buyers lining up for a condo in a building that might be years from completion are long gone — and developers are facing a new reality.”
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My daughter who lives in SW FL sent email with this subject line:
More planeloads of assholes – and they are all moving here.
Linked to story about growth in Lee Co. (Naples) FL
Ft. Myers is the new Naples. High rise condos are selling out before being built. Flippers.