Feb
19
Foreclosure Vacant Land In Florida
Filed Under Foreclosure
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The Congress passed the American Zone Go to attract private real estate investment in New Orleans. Why Hasna € ™ t worked?
The American Go Zone Act provides real property investors with tax incentives to fund massive rebuilding of rental housing damaged by Hurricane Katrina. Where are the speculators, real estate agents, mortgage brokers, homeowners and investors hard money?  theyâ € ™ re caught in the same mortgage crisis that has closed the housing industry nationwide.Â
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The increase in 2005 storm destroyed thousands of homes along the Mississippi Gulf Coast and real estate agents responded with the same business model that is used to inflate artificial prices in the condo market in Florida, and we all know how thatâ € ™ s work out. investment properties that donates € ™ cash flow do not stop at foreclosure. developers and real estate agents also recently moved its operations to the coast and have been trying to sell the Mississippi Go Zone properties as if the tax savings somehow negate their oversupply of over priced workforce housing homes. Whatâ € ™ s is necessary, the affordable housing problem it encountered in Florida just before the mortgage meltdown. The casino and tourism creates many jobs for entry level donâ € ™ t pay much and workers need a place to live. For the coast of Mississippi to re-emerge as a tourist destination, its workforce must Could be accommodated. New Orleans be the bedroom community for Mississippi € ™ s Gulf Coast worker shortage? Â
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Tens of thousands of new homes were uninhabitable Orleans when the levees broke, many historical gems. Now that Hurricane Gustav has made improving levees to the test, and the government demonstrated that New Orleans could be evacuated, itâ € ™ s time to come home to New Orleans. neighborhood structure is intact and most of the houses can still be salvaged. is a totally different situation in New Orleans. housing pre-Katrina, New Orleans was a city with high income population with small investors owning income-producing real estate that was passed from generation to generation, unfortunately many did not insurance and now canâ € ™ t rebuild. Structurally sound shells can be purchased for land value, their exteriors restored to its architectural charm original and adapted on the inside with all new systems and interior finishes for a fraction of their replacement COST.O
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The Institution Brookings estimates that in August 2008 that New Orleans is now confronted with 65,000 vacant or blighted properties, properties can be gutted, rehabilitated and rented profitably and efficiently. Itâ € ™ s good business decision, a good choice for the environment (Whatâ € ™ s more environmentally friendly than a gut rehabilitation?), and itâ € ™ s the right thing do. The real estate market is ready for New Orleans homeowners have explode. invested billions of dollars of insurance or money in your Road Home homes and FEMA has spent billions more on public infrastructure. the American Go Zone is about to be the hottest property market in country. Find tenants isnâ € ™ t theyâ € ™ re problem. displaced throughout the country and theyâ € ™ re ready for home. They want to come home to the jobs they left behind, tourism, restaurant and posts French work in hospitality Quarter. the Paya € ™ s not much, but when Thereâ € ™ s affordable, energy efficient property rent in the tram line, which doesnâ € ™ t have much.Â
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The tax incentives are good, but investment real estate cash flow needs and thatâ € ™ s been hard to do in the Gulf of Mississippi Coast. Itâ € ™ s a good time to invest in New Orleans?
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American Go Zone
About the Author
Rick has been an active real estate developer, home builder, restoration contractor,and real estate investor for over 25 years. Rick uses his experience to develope software taylored to the residential construction industry.
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