# Entrepreneur of the Week Adi Gal # Post 4 And then came the Corona! South Florida is an area that comes all year round…

# Entrepreneur of the Week Adi Gal # Post 4 And then came the Corona! South Florida is an area that comes all year round…

# Entrepreneur of the Week Adi Gal # Post 4 And then came the Corona! South Florida is an area that comes all year ...
Then came the corona!
South Florida is an area where the sun shines all year round. In summer it is very hot and in winter it is perfectly warm. The tourist season here is winter. During the tourist season the fluctuations here are very noticeable. How is it expressed? So every year in early fall "winter birds" people come here from Canada, New York and the cold North American states to South Florida. They are usually looking for short term rentals. But because of the cold waves and storms in recent years many of them are looking to buy cheap apartments here. Have a vacation apartment.There are whole neighborhoods here that look like abandoned because they are all populated by seasonal tourists "and winter birds"
As in the rest of the world, when Corona arrived in Florida there was insane uncertainty here. Stress and fear of the unknown. Closed Courts There was a partial closure for two months, no schools and no places of entertainment. Tenants have come under pressure, property owners have come under pressure and of course the market has stalled. In terms of real estate this was a very temporary brake. Very quickly people from all over the US realized they were going to get stuck at home and if already at home then there is nothing about South Florida in the world. Thousands of people from New York and the surrounding area spread their wings, left everything and just came here. They came with a car, a truck and rented houses for a year. The goal: private houses with a pool. In addition, people who live in buildings and even luxury buildings on the sea realized that there was a problem here. The sea is closed. The buildings closed everything they had to offer - pools, gyms and all the luxuries that luxury buildings offer. Impossible and then the rush started.The market went into a frenzy.Add to this situation the ease with which you can get financing and the cheap interest rates.And that is and there is no need for more! The market is boiling.
Even before Corona, the state of Florida was the number one immigration destination in the United States. Everyone wants to live here and whoever comes does not leave. And now in the Corona era, just as there are some companies like ZOOM that have only benefited from the Corona the Florida housing market has also benefited greatly.
So now half a year after the flood and what are the observations as of today? I think at least until next March the Florida market will continue to be hot. The coming winter will bring with it a lot of people to Florida to enjoy the weather that South Florida has to offer and that means more properties will be rented and more properties will be sold. In addition people who come here are potential customers for buying investment properties. Rents are soaring allowing investors to pay a little more on properties and still enjoy real returns.
So in the meantime we are optimistic. The upcoming election could change a lot here. If the corona refuses to disappear and eventually the economy shuts down again, Florida could find itself in an economic crisis which will push down prices. Keep in mind that in conversations with banks and agents that deal with foreclosed properties there is a huge list of properties that will be auctioned off. At the moment because of the situation they are obliged to hold them until the end of the year but as it seems, early next year they will go on sale and this may give investors an opening to find opportunities.
Adi Gal

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Limor Brody
Limor Brody
1 a month ago

Deer Brody

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