What “real estate” area in Florida will most likely bounce back (economy) the quickest?

jonboy13032: What “real estate” area in Florida will most likely bounce back (economy) the quickest?
Im looking to invest in real estate in florida, i know there are alot of good deals right now, but not sure which area will recover the best quickest…..thanx for your opinions!!.

Answers and Views:

Answer by Mr. Fix-It
Fla is one of the hardest hit states in the nation….Now is a great time to buy—but God only knows with the flood of foreclosures and short sales when and if recovery will take place….If we could see the future for fact on this–we would be millionaires.

Answer by sethichino
If you’re concerned about losing money on a transaction stick to the lowest priced properties. These homes have taken the biggest hit already and so you have some price protection on the bottom. If you’re looking for the most bang for your buck, then stick to higher end properties because once they recover you have more of the bank’s money working for you than your own. Higher end properties carry more risk, so it’s up to you to determine your tolerance.

My advice though is to not treat it like a quick trade because real estate in general is pretty illiquid and has high transaction costs involved. If you’re looking to get in and out quickly stick to stocks or options instead. If you do plan on owning something for a couple of years, pay attention to the rent/own ratio to figure out what kind of return you can get on your money while waiting. Ultimately though it comes down to how quickly you think a recovery will take place and how much risk you’re willing to accept.

For example, a $ 100,000 home that can produce $ 1,000 per month in rent is less risky and can offer higher income returns than a $ 500,000 that is producing $ 3,000 a month in rent. If property values in general rise though, you’ll make more in appreciation on the $ 500,000 property than the $ 100,000 property. If you’re in it for 3 years or longer, I’d stick with the cheap properties and try to buy as many as you can.

Answer by MavistheMaven
Look for areas where property is undervalued. Don’t expect property values to return to their previous over-inflated values, though.