Saturday 13th November 2010
What Goes Down, Must Come Up
According to a report, Florida property for sale is sometimes going for as little as $47/square foot.
Such bargains are available because of the degree to which Florida's real estate markets have suffered due to the financial crisis. These low prices mean that Florida currently presents a great opportunity for UK buyers to take advantage of the low prices.
Even homes in otherwise high demand developments with nearby facilities including golf, beaches and of course the sun are going cheaply and investors also get to take advantage of the low interest rates and a weak dollar. Prices now are so low that luxury homes are being sold for half of what they would have been sold for 5 years ago and with prices only likely to go up in the future, investment in a Florida home will almost certainly prove to be a sound investment in a few years from now.
University of Central Florida's economics professor and forecaster, Sean Snaith, added "For international buyers, 2010 will be a great time to buy in Florida. The imbalance of supply and demand puts the buyer in the driving seat. Large inventory, pricing power and the continuing weakness of the dollar when compared to other currencies mean awesome deals in the housing sector".
NBC recently reported that Florida's Sarasota was the best place for a home property investment throughout the nation.
With such major European attractions like Disney World and Universal Studios, central Florida should rebound quicker than other areas in the region. Currently, condos make excellent cash investment opportunities as some are even being sold at below the cost of construction. The reason for this is that it is more difficult to obtain finance on a condo than it is on a house.
With prices at their current level, property investments in Florida represent fantastic value for money. With so many modern facilities in the region as well as luxurious features such as beaches, golf, fine dining and the weather investors in Florida get more value for their money than investments in Europe.