I'm trying to find out more about selling pre construction condos. I've visited various web sites and read about what the advantages are to buyers, but I can't seem to find anything that gives any sort of guidelines to realtors. If anyone has any experience in this market I'd love to hear from you. I have a ton of questions I'd like to ask. I'm a realtor in North West Florida and the condo market is crazy right now so I'd like to be able to get in on the action.

I am a Realtor in Pensacola, Florida, and believe me, it is true, the condo market is HOT, HOT, HOT. People from all over the world are coming to buy condos, and the prices escalate rapidly. New one, are being build at a much higher price. I too would like some guideline or tips on selling condos, and preconstruction condos. My email is kenworksforyou@earthlink.net

Same as any other real estate... meet with the owners /developers.

Most will have on-site reps who will often not be responsive to other agents but some will offer Agent incentives. Some will have exclusive listing agents but will work well with buyers agents.

If you have the $$$ you may be able to develop an exclusive representation and have an on-site office. This normally requires you to chip in on a significant amount of advertisement cost.

Condo Conversion- Condo Re-conversion and over 55 communities. I beleive those are the 3 strategies Reed has in his books. The regularity and styles of condos up here are probably nothing like the communities in the south, southwest. I would think condos and townhomes etc. are a odd duck to invest in, unless in areas where they are more common. I will have to read those pages again though.

P.S. Great Forum!

Pre-construction condo purchases can be good buys. The advantage are lower than market sales prices. Developers/builders will aggressively price pre-construction condos to get the best construction loan rates. For example, if they can get a certain percent of the units sold during a construction timeline, they gain in better finance rates.



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If you are honest, you don't have to remember anything ... Mark Twain

I am a Realtor in Ft Lauderdale and we are having a flurry of Condo Tower developments in this area, many that are being presold before construction (at 20 - 25% discount) with the hopes of flipping them for the profit as soon as the towers are sold out. You have to be careful not to buy in areas that are becoming saturated with available units because that is driving down the resale prices in some areas.

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Jacky
Residential & Commercial Realtor
Ft Lauderdale, Miami, Palm Beach and surrounding areas in south Florida

Hi all,

I am looking into the south FL craze of buying pre-construction condo and fliping it. I'm worried that the Marketis saturated. I don't which one (I'm thinking of beach club 3 or Trump one. My investment for the deposit is 150 to 200G's but the fact is, if I had to close it would break me and I have a famaily. Is the still a good market or is the hype just to get you in....Thanks

If you do not know the market and the product... then you are not investing... your simply gambling.

Don't confuse the two...

Thank you for bringing me back to earth.
This would be my first investment, maybe you can give me some insight on how I go about determining if this is substantial investment and not a gamble. Thanks

I am selling a new project in Miami, pre-construction, you can reserve a unit now!

before it goes out into the market

Just curious... why would this development not be on the market?

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If you are honest, you don't have to remember anything ... Mark Twain

Is not in the market yet, always a new project sales in-house, that means , friends , family ,etc.. we havent do any marketing campaign. the marketing begins in January 2005, but you can reserve a unit now.

I am looking into preconstruction as well but I don't like the Miami Market it seems prices at inflated, Money magazine had an article about the beach condos on a bubble that was about to burst. That's scared me away.
I know the limited amount of beachfront makes it more desirable but I don't want to be stuck closing on it either. Though I could it would hurt.

I was looking at a property in Orlando we found that seems interesting. NOT downtown, I need rentals or to sell and it seems too much saturation and not enough people to buy or even rent long term.

I was looking near Disney. I mean they have all the visitors why not. My friend bought a beachfront unit and had great luck the same person he worked with is pointing to this one. But I'm still scared.

I'm doing my homework but how do you know when to jump in?

I am also looking for help in the pre-construction field here in south alabama. I am dabbling a bit in it now but need more knowledge to do more than that... CE topics cover a million other subjects except this one! anyone willing to educate? leyapnrealtor@aol.com

Most agent that sell preconstruction online post projects but do not give any
advice on population growths, market trends and percentage gains for the real
estate markets in their respective areas. We not only provide you with
information about the preconstruction projects and the timing on when to buy
them, we educate or clients so they are confident in us and our ability to guide
them through the buying process.



For more information about preconstruction and the facts we can help.
MiamiRealEstateTrends



Preconstruction Real Estate Condos in Miami and Fort Lauderdale



South Beach Condos for sale

Here are my two cents on investing in pre-construction.
1. I stick with single family homes (condo’s can get sticky when it comes to financing and the development hasn’t turned over to the HOA yet) Your experiences may be different.
2. Your best investments, in my opinion, will come from planned development where there are many new homes being built and few to no older homes in the area. I don’t like to see appraisals compared to the shacks on the other side of the tracks. I will track county development for schools, roads, grocery stores, banks, and shopping malls.
3. Invest in a community where there will be at least 300 home sites. The more homes in the community, the more sales in the future. With a constant stream of sales in a community, there is a better flow of comps and a better chance of appraisal being in your favor.
4. If possible, move into the property for 1 or 2 years. Since many of the cookie cutter homes will not allow investors.

Anyone using a buy and hold strat. with new condos ? There are many new condos that will be complete in the next two years here in Des Moines. If anyone has experence in doing this I would love to hear about it. Some of the units here are less then 100k. Renting the units should not be a problem.