I was out this morning early to take photos of a property in the Capron Ridge subdivision of Viera, Florida. This was for a broker price opinion (BPO) – an opinion of value.
As I was returning to the office I noticed a buzzard as we call them in Florida feasting on a diet of carrion (from the Latin caro, meaning meat). In some places, especially down south, it is known as road kill - the carcass of a dead animal!
I thought…this is not a pretty site but it must be done. The housing market has a bit of carrion itself – carcasses of dead deals (foreclosures and short sales).
And it is not a pretty site but it must be done. Enter the real estate investor. By metaphorically referring to investors as Turkey Vultures, I do it with respect for the task that must be done.
So, as the prices have dropped and the foreclosures, short sales and inventory of distressed properties has risen, I say “get to work, investors – it is not a pretty site but it must be done!
By the way…did you know that Turkey Vultures are protected in Canada and The United States? Should not the real estate investor be protected as well? How about it lenders? While you tighten the reins keep in mind these investors will need a place to "store" their profits!
Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida, proudly serving buyers and sellers in the Viera, Suntree and Rockledge areas of Florida's Space Coast.
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Gary, every creature serves its purpose. =) I am finding that in our area investors are buying up the less desirable properties that owner occupants are shying away from. It's a beautiful thing. Every property is finding it's buyer.
Maggie - I agree, thanks. That is what I thought yesterday as when I noticed the creature on the street!
Yes investors are out...we are seeing multiple offers if the price is right! My husband wants to know if the road kill is a kitty :( growing up we used to call road kill sail rabbits..an older comedian used to describe it that way! My memory is going I can't remember the comedian.
I have recently looked at our sale prices and I must admit...whether an investor or 1st time homebuyer there are great deals everywhere...great post.
Midori - Road kill = gull! There are deals out there and they are being snatched off the road like fresh road kill!
Gary - good point... it DOES have to be done.
Thanks, Sally. Until it is done, the markets will not bounce back.
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