So why is Central Florida still the popular place to visit?
With retail prices in the UK rising, people are looking elsewhere in order to satisfy their buying needs, but Florida? Designer and high street name bargains are abundant in Central Florida outlet villages and malls. Excellent exchange rates and cheap non-peak airline costs are persuading people that the trip across the Atlantic is worthwhile and affordable for all. The Disney Parks are still busy and so to are the shopping malls, packed with Brits cashing in on the outstanding deals and are often on a buying frenzy.
Are the current bargains in Central Florida limited to retail purchases?
These fantastic deals defiantly extend to property sales. With a glut of vacation homes available, many people can pick up a good sized furnished home with a pool in a great location for under $200k. Many of these properties will also be in a property management program that can provide an alternative rental income on their investment. If a buyer is wisely looking for a long term investment, Central Florida and Orlando is defiantly the place to find it. Forget trying to make a quick buck by selling in six months to a year but consider a long term investment that could be utilized for the family and friends holidays for the next five years at a very small investment. Many people are also looking for larger properties for immigration purposes, of which there are equal numbers and deals to be negotiated.
More than 21 million people visited the Sunshine State from July 1, 2007 to September 30, 2007, a 4.8 % increase over a year ago when memories of past storms sent tourism numbers down sharply.
“It shows the impact of two years of no hurricanes,” said Nicki Grossman, Broward County’s tourism chief and vice chairman of Visit Florida.
Tourism has been a source of economic good cheer in recent months as the state’s construction industry shed jobs amid plunging real estate sales. Passenger arrivals were up 9.3 % in Florida airports during the third quarter, and hotel room rates rose 5.7%.
Disruptions in the mortgage market and tightening credit continued to impact Florida’s housing sector in October. Statewide, sales of existing single-family homes totaled 9,165 last month while 12,846 homes sold in October 2006 for a decrease of 29% in the year-to-year comparison, according to the Florida Association of Realtors® (FAR).
The national median sales price for existing single-family homes in September 2007 was $210,200, down 4.9 % from a year ago, according to NAR.
Sales of existing condominiums in Florida also decreased last month, with a total of 2,819 condos sold statewide compared to 3,508 in October 2006 for a 20 % decline, according to FAR. The statewide median sales price for condos last month was $192,400, down 8 % from October’s 2006’s condo median price of $209,500. NAR reported the national median existing condo price was $221,700 in September 2007.
The key to any long term investment is the location. It is imperative that the agent representing you is actually representing your best interest. Points to consider are:
- The previous, existing and future use of the location
- The facilities available and planned
- Residential zones and uses
- Local schools and environment
- Crimes rate
- Unemployment rate
I have worked in the industry for over 30 years and originated in the UK as a Chartered Surveyor. I moved here to Central Florida in 2002 and opened a Home Inspection company to assist buyers obtain a good investment. I later opened a Real Estate company to ensure clients where receiving the best expertise, help and service when purchasing their dream home.
I now assist many British, European and American clients find their long term financial investment property in Central Florida. I have acquired a worldwide network of commission based referring partners from Estate Agents in the UK to financial advisors in the Middle East. To become a referring partner for any Florida locations please contact me for further details.
To contact me and arrange your fee consultation click the contact button below
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