 "Three cheers for investors!"
The above title is probably not something you´re likely to hear the Occupy Wall Street protesters shouting. Nevertheless, the economic situation in the US would be a lot worse without investors.
 I find it ironic that people used to enjoy boasting about their property purchases to friends and families during the boom. A conversation starting with "You have a property in Spain?" "Good for you, but I just bought three in Bulgaria" would not have been out of place in an Irish pub in 2006. Nowadays, people keep very quiet about their property investment activity.
Discretion is good, but the irony is that property investors are much more useful to society now than they were 5 years ago. The properties they´re buying are also far more worthy of a pub discussion.
It is estimated that investors snapped up a whopping 30% of property sales in the US last year. When the property crisis was at its worst, it was investors (many from overseas) who pumped billions into the US economy. They bought when the market was at its lowest ebb when nobody else was interested. They used hard cash to purchase and fix up hundreds of thousands of properties and then rented them out to families. Nobody else would have had the confidence to buy enough volumes of property to stop the slide in prices and reduce inventory back to pre boom levels in many cities. Investor activity has revived many local real estate markets and it has given potential owner occupiers (and their bank managers) much more confidence.
I´m not suggesting that property investors have purely charitable motives - they´re in this business to make money and they certainly know how to squeeze a seller. Nonetheless, the actions of the majority of them have had a very positive impact on the market. According to the National Association of Realtors, every home purchased pumps $60,000 into the economy for furniture, home improvements and related items.
Why so gloomy?
In contrast to a lot of negative media coverage about
the real estate industry in the USA, things are really starting to look up. Journalists will always find it easy to locate a property agent moaning about how difficult the market is, but it seems to me that these people either aren´t trying hard enough or they are selling the wrong product.
The truth is that most industry specialists who have taken the time to adjust their business models to a new reality are doing just fine. I´m genuinely surprised there aren´t more positive stories in the press about this.
Suffice to say that I´ve got very little sympathy for struggling property agents. With prices at record lows, an unprecedented influx of cash investors, delicate signs of life from banks and strong signs of a recovering US economy (2.8% growth in 2011), it is a great time to buy property. Speaking of which, Torcana has a very active referral program in place - if you´d like to learn more about how to earn several thousand dollars in your spare time, just click here.
Consumers & Investors vs Workers & Citizens
The Financial Times has been publishing an outstanding series of articles based on the theme "Capitalism in Crisis". One of the trends I´m starting to understand a little more clearly is that the financial services industry and the crazy salaries earned by the top people within it are just a small part of the puzzle. A much bigger part is the role played by investors, consumers, workers and citizens. Many of us fit into all four of these roles - i.e. we invest in stocks, consume ipods, work in a bank and receive basic health, education and security from our government.
With technology and globalization, almost anything you can dream of can be identified, purchased and sold at the click of a button. A single person in a home office can probably accomplish more today than an office manager with 10 roaming assistants could have 15 years ago.
This power is presenting opportunities our parents could not even have imagined. There is a flip side to this though. If we continue to break down traditional barriers and reward companies who provide the best products at the lowest prices, then inequality and job insecurity will rise for those who can´t meet these expectations.
I think everybody has to try and adapt to this new reality. Experts and laymen alike now realize that rising living standards during the boom were mostly a mirage as they were based on cheap credit and by living beyond our means. In my view, the next 5-10 years will provide a huge amount of genuine opportunities to increase living standards and our personal wealth for real.
We can make it happen by teaching ourselves and our families how to get into the right mindset, by leveraging the myriad of tools available to us and by taking advantage of opportunities when they present themselves.
Gardens of Bridgehampton - Premium condos in Jacksonville, Florida
Jacksonville is an affluent city in the historical north eastern corner of Florida and it might just be the Sunshine States best kept secret from property bargain hunters. It is the largest city in Florida by area with an urban population of 1.3 million people and an average age of 36, one of the youngest in the country. It has been consistently one of the fastest growing cities in the USA and is currently ranked eighth nationwide for business expansions and relocations. It is also ranked number 5 of the top ten cities in the USA to retire in by Forbes magazine.
Gardens of Bridgehampton enjoys an exceptional location in Jacksonville within a short distance of major employers and highways. This beautiful community is perfectly poised to capitalize on the strong economic expansion occurring in the surrounding area. Built in 2005, this purpose built condominiums many high-end unit features, variety of floor plans and extensive community amenities place it among the most luxurious multi-family communities in the marketplace.
Jacksonville is one of the most improved apartment markets in the country, experiencing a 3.5% increase in occupancy from 2009 through 2010. The occupancy rate for Class A properties in the Jacksonville MSA is 91.6%, surpassing the 91% barrier for the first time since 2007. Sales have also been booming, with 21% more condos sold in the first half of 2011 compared to the previous year.
Quick Summary
- Location - Southside, Jacksonville, North East Florida
- Unit Types - Selection of spacious 1, 2 & 3 bed condos
- Unit Sizes - 1 beds (793-939 sqft), 2 beds (891-1505 sqft), 3 beds (1509-1553 sqft)
- Price range - From $74,000 (€57,250 / £47,750) to $120,000 (€93,750 / £78,000)
- Rental Yields - The rent roll, as provided by the seller, shows existing net rental yields from 7-8%
- Facilities - Clubhouse, business center, pool, fitness center, cinema, coffee bar, car wash
- Features - Large balconies, crown moulding, walk in closets, 9 ft ceilings, alarm, wifi, appliances
- Aftersales - Completely hassle free purchase with full aftersales and management services offered
Next Steps
The sellers have provided a detailed 23 page brochure on Gardens at Bridgehampton which includes:
- Introduction to Florida & Jacksonville
- Community Description
- Management Services
- Floorplans & Sitemap
- Location History
- Jacksonville employment, industry and education
- Transportation, dining and shopping options
Just click on the link below, complete the enquiry form and the complete brochure plus the price/availability list will be automatically emailed to you.
Note: If the blue download button above is not working for you, please click here for the brochure. If that still doesn´t work, just reply to this email and the PDF attachments will be sent directly.
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