Forget Me Not: 5 Reason to Remember Florida

Posted by Jude Buttle on Thursday, August 28, 2008

Florida is famous for its Disney rides and sun-kissed oranges, but has the fun and zest gone out of its property market, or is the sunshine state still a desirable place for bargain hunters?

Cinderella's Castle - photo by Zesmerelda

Why Florida's Still Hot

The credit crunch in America has hit properties hard, with banks scared to lend and potential buyers unsure of the market. But smart investors are reaping the benefits of a weak dollar and a downturn in the US economy, by snapping up affordable real estate while the going is good.

Rather than fear the current climate we assess why now may be as good a time as any to consider investing in the Floridian sun.

1. Lifestyle

The mix of sun, fun and the English tongue had led to thousands of British investors spilling into Florida and it can never be emphasised enough that the ‘sunshine state' is one of the most attractive destinations in the world for tourists and those looking to relocate.

With its cosmopolitan cities, world-class beaches, golf courses and general sporting facilities, Florida offers an attractive, affordable lifestyle to buyers from anywhere in the world.

With the allure of more than 300 days of sunshine per year it's a major vacation location and its Disney Theme parks are always a firm, family favourite.

2. Affordability

Florida is one of the less expensive states to buy in and properties there are attracting increased attention from UK investors. With the pound doubling up against the dollar after tremors within the US sub-prime mortgage market, Brits are taking advantage of depressed prices to snap up bargain homes in the sun.

In the meantime, developers are being forced to go that extra mile to close a sale, with many offering leaseback deals, inclusive furnishing packs and all financial costs covered as added incentives. 

Brandon Petty of Brandon Petty Realty, says: "Being a new home builder and real estate investor myself, I can see both sides of the market.  There is no better time to buy a house.  Interest rates are very low and developers are willing to discount houses to clear inventory.  It's time to get off the fence and go get yourself a good home with built in equity."

So with prices plummeting and a surplus of inventory, there are bargains to be had for those who know how to spot a good deal and negotiate a discount - some property investors are even snapping up condominiums in sets of 20 or more.

3. Economy

The state's strong economy is another positive factor for Florida's property market. New job creation remains well above the national average, especially in sectors like professional services, healthcare, trade, education, leisure and hospitality.

Florida has always been one of the most popular states for Americans to move to. It remains a strong lure, particularly for retirees, in fact, about 90 percent of the state's population growth since 1950 - from about 3 million to more than 18 million - has stemmed from migration, with the lion's share coming from other US states.

4. Weather

What can you say about the weather apart from the fact that it's hot, hot, hot? Florida boastfully promises 360-days-a-year of sun and average summer temperatures of 32 degrees. So even though June is known as the wettest month, it just serves as a temporary respite from all that wonderful sunshine.

5. Celebrity Watch

If frequenting around famous folk is your thing, or name dropping at parties' rocks your boat, then Florida's filled with enough celebrities to keep you gossiping for weeks.

Whether you're grocery shopping next to rocker Lenny Kravitz, exercising in a gym used by Oscar winning actress Cher, or just sipping an ice tea across the table from television chat-show queen Oprah Winfrey, you're sure to spot one of the many celebrities residing in the area, where the amount of stars per capita is second only to LA.

Conclusion

So, even though gains may look unlikely short term, now could be just the right time to spot a bargain before prices begin to pick-up, allowing you to survey the stars and soak up the sun while attaining your American dream home.

 

Search for property in Florida

If you are looking for property in Florida, such as villas, apartments or other types of real estate, why not check out TheMoveChannel.com USA, which has a large number of listings from American estate agents and developers selling properties in the area: http://www.themovechannel.com/property/USA/

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