Originally from Montreal, Canada
Lived near NY City for over 20 years and now, Naples for over 8 years.
At YOUR service.
Transnational Referral Certification
CIPS (Certified International Property Specialist)
Our clientele is from:
- The United States – Midwest, Northeast, Mid Atlantic and the South
- Canada, mostly from the Provinces of Québec and Ontario
A short history of home prices volatility in South Florida
- Baby Boomers and Foreigners buy a large percentage of South Florida Homes.
- Baby Boomers in the US are defined as those who were born in the 1946 to 1964 period.
- When the economy was doing good in the late 1990’s and early 2000’s, many of the Baby Boomers were anticipating retirement at an early age of 55 to 60 years old. The ones living in the Northern States started flocking to the Southern States including Arizona, California and South Florida.
- Boomers wanted to get away from the cold and spend more time at the beach or in a drier climate. Then, in the 2003 to 2007 period, came the investors, speculators and everyone else taking advantage of easy credit. All of this created a rapid expansion of prices which came to a crash, when credit was tightened.
- During that period, many could not afford the rapidly rising home prices and finally resigned themselves to rent for the winter months rather than buy.
- With home price cuts of 50% and even more, the Baby Boomers got another chance of realizing their dreams of buying a home in the South.
- Since 2009, Baby Boomers have been buyers and Foreigners, especially Canadians with their strong currencies, have been buyers. The low prices created by the foreclosures and short sales have attracted a plethora of investors and speculators alike.
- That is the reason why the inventory of homes for sale is presently (late 2011) very low in South Florida.
- Traditionally, low inventories have a tendency to create price stabilization and eventually price appreciation.