The message is about how much thorough research creates significant opportunities in real estate. It can help you fit a personal or group strategy. The below linked story about the slowdown in residential inventory in Palm Beach County FL is curious for a number of reasons.
Palm Beach County has the most unsold housing inventory in the state, according to data cited in the story. Florida currently has significant challenges for both commercial and residential real estate, with recent natural disasters and the resulting rise in insurance costs leading the way. Some experts continue to blame rates although others realize that refinancing will be an option at some point.
However, the reasons and excuses for the current situation are the common reasons given for counties and regions around the State of Florida. Being research minded, the first thing I thought of upon reading the story is that there is nothing in there to distinguish why Palm Beach County is the unfortunate leader in unsold housing. Rates are the same as other counties.
Whether it is market pricing, condition of the properties, seller reluctance, or local challenges like property taxes or zoning, there is at least one reason the problem is more widespread. It clearly takes some research to find out what the problem "really" is for that area.
If you can determine the true problem before competitors do, you could have a significant edge toward taking advantage of the most viable solution. Maybe it takes a massive refinance offering. Perhaps buying up a group of properties at lower pricing to desperate sellers provides a long-term solution for profits. Possibly insurance concerns could be addressed in some way, even if costly for the short-term.
The vast majority of people will read articles like the one below and move on, or think they should look elsewhere for real estate opportunities. The few people that have the right research person or team on their side will look into the potential for solving the problem.
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