The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: bentway who wrote (19725)	4/24/2004 7:26:19 PM
From: MoneyPenny	Read Replies (1) of 306849

Where I live in SW Florida, investors only buy new pre-construction to flip. It is a mainstay of the business here. We are talking large percentages of condominiums being purchased for this purpose. The concept is to have a contract on the unit before you close. Most of the big developers make sure that new buyers get renters their first year. After that they are on their own and many just forget it. WCI, Bonita Bay, Centex, etc. are very big here. We are talking the 500k and up vacation/winter residence. Message 20019616 news-press.com We are talking maybe 2000 units of high rise condominiums in a small city with no infrastructure or retail to support. I am thinking of a penthouse for my husband and I bought at deep discount in a few years. Money Penny

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