The Florida housing market has never looked so appealing to international investors according to the overseas property portal Homesgofast.com. The UK based company has just returned from a week with realtors in the Miami and Central Florida area to see for themselves what’s on offer to overseas property buyers.
Nicholas Marr CEO ‘ Our visit has shown us with our own eyes that buyers can achieve true value for money in Florida at this time. Only 12 months ago we saw stunning homes in the Orlando area being fought over buy enthusiastic buyers pushing prices up. Today similar properties are now available in their plenty and have dropped dramatically in price. Property developers are offering a variety of incentives to buyers ranging from payments of Home Association fees, discounted mortgage finance and higher calibre fittings for new homes. We even saw resale property in Central Florida that included the owner’s boat and Jet Ski. The Florida market appears to be very competitively priced offering big homes for little money’
With the drop in the housing market in Florida over the past year, the boom in condo availability has become a great advantage to potential purchasers and these are offered at extreme value for money.
For those looking for life in the sun without the worry of owning and tending to a piece of land, but still with the security of owning something, condominiums are nice alternatives. You get to own the unit without having to put in the work to maintain the exterior and grounds. If you are only going to be living in it for part of the year, you can often rent it out to vacationers and travellers. In this part of the world these folks come year round, although the summer is the biggest season for them – usually when part time residents won’t be here.
Because there are so many units on the market and still being finished, builders are making very attractive concessions to potential buyers. According to a recent article in the Florida Real Estate Journal (www.frej.net ), the properties in the middle of the price range, those priced over $200,000 and less than $1.5 million, have been hit the hardest. This means that it is an ideal time to purchase, as it is a buyer’s market in a big way.
One of the hardest hit areas for builders and sellers of condos is the popular Miami Metropolitan area. With the housing boom going so strongly here as little as a year ago, many new developments are still under construction and just coming on line. If you are looking for a new condo/apartment in the Miami area, this is definitely a prime time to buy. Randy Rieger, owner of the Housing Trust in Coconut Grove, Florida, is quoted in the Real Estate Journal as saying of condo developers: “Many have dramatically lowered their price of their properties as a way to pay off their own loans.”
With so many condominiums available in South Florida, now is a great time to look for your stress free living unit. And to top it all off, for Europeans their money goes farther than it has in a long time. As the dollar continues to see new lows against the Euro and Pound, people who have these currencies can get a lot more based on the conversion rate. Finally, getting here is a piece of cake with three major international airports serving Central and South Florida in Miami, Orlando and Tampa Bay, as well as a smattering of smaller airports.
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