In 1992, the Florida real estate market was in shambles. Failed savings and loan banks and the Gulf war lead to one of the most depressed real estate marets in the history of South Florida real estate. The Resolution Trust was a government agency set up to liquidate the real estate portfolios of the failed banks, but the process was slow and costly. That was when I coordinated a program with the RTC to package the notes and mortgages of these assets and sell them in bulk to investors. Within one year of my plan going into effect, the real estate market turned around.
Real estate in South Florida and the Boca Raton area have turned the corner. Buyers are grabbing up properties, although the country clubs homes have been slow to catch up and prices are still at bargain levels. This provides great opportunities for buyers who enjoy the country club lifestyle. I predict that the country club homes will appreciate 20 to 40 percent over the next 3 years.