Lakeland – Winter Haven Florida Worst City for Real Estate Investing – I beg to differ.
Just recently I read Ms. Levy’s Forbes blog about Lakeland-Winter Haven Florida being the worst city of real estate investing. This article did not sit well with me and I did read it more than once. While the national news is saturated with negative housing news, remember real estate is local and when it comes Lakeland-Winter Haven, FL (Polk County) I felt I needed to clarify a thing or two.
Below is the quote from her blog:
“I know something else about it, too. Glittering ponds or no, you should not buy a home in the Lakeland-Winter Haven Metropolitan Statistical Area if you’re interested in selling it at a profit any time soon, according to new data from Cary, N.C.-based Local Market Monitor (LMM), a real estate research firm”.
Ms. Levy failed to mention a timeline other than the generic timeline of “any time soon”. If she is referring about flipping a property within 6-12 months, I would have to agree.
I beg to differ otherwise. I think the Lakeland-Winter Haven (Polk County) area is a great place to invest in Real Estate and definitely a great place to live, prices are low and if you are wiling to hang on to a property – and that is the most determining factor and rent it out or do owner financing, it is definitely worth it. As a Realtor® I would never advise an investor to flip a property in today’s market and the experienced investor is well aware of the situation in the Lakeland-Winter Haven (Polk County) area.
From an investor’s standpoint of view, I want to point out that of all the Lakeland-Winter Haven, FL (Polk County) homeowners who are delinquent in their mortgage payment should give indication that the amount of renters coming into the rental market is increasing. Along with tightening lending requirements, many borrowers who were qualified earlier to buy a home, may not be qualified now. Adding to this mortgage mess, record unemployment rates, bankruptcy, and divorce – surely not everyone can move back to mom and dad.
This makes this a great scenario for an investor who is willing to buy cheap homes in Lakeland-Winter Haven (Polk County) area as there is a growing number of prospective tenants looking to rebuild their lives and their credit, all this while holding on to their investment.
This simple statement by Warren Buffett applies not only in the stock market; it also applies to real estate investing:
“Be fearful when others are greedy, and be greedy when others are fearful.”
In today’s Real Estate Market – bad news is good news; it lets you invest a slice of America’s dream at a much-discounted price.
Copyright © 2010 By Petra Norris *Lakeland – Winter Haven Florida Worst City for Real Estate Investing – I beg to differ