British bargain hunters are searching for properties in Florida before the market results in an inevitable lack of bargains according to a leading mortgage company at The British Home Group
Lee Weaver of Florida based Mortgage Company The British Homes Group. “Some prices will change here and there, but movement is expected to be minimal. What will start to disappear very quickly is the choice of properties,”
Joanna Leverett of Savills, a British estate agency which works with US agents to negotiate deals for British buyers “The general feeling among buyers is they’ve waited long enough. It helps that sterling is strengthening slightly against the dollar,”
The country’s leading house index, the S&P/Case-Shiller All-National, shows that prices rose by an average of 80% between 2000 and 2006. In the past three years they have plummeted by a third, taking them to little more than the values of a decade ago.
One of the features that are a refection of the Florida housing market are Foreclosure Bus Tours where British property investors are taken on a tour of Florida bargain property
Searching for a property priced at £150,000 in Florida on the overseas property website at Homesgofast.com reveals numerous bank owned property. Properties available ranged from a 6 bedroom houses to luxury villas near Disney World. One bargain that stood out was a five-bed, three-bath home near the Medieval Times theme park which has 2,300 sq ft of living space and a pool. It was valued at $438,850 in 2005 but is now $215,000 (£130,000).
More Florida bargain here: Property in Florida
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