Florida investment property
Sun Sand and the Sparkling Sea your treasured memories of Florida.
Owning a property in Florida would be the best way to relive those memories again and again. A condo, or a tiny beach front flat that could give you and your family the comfortable space, where you could come and go at your will. A space, where you could return for vacation year after year.
A property in Florida by all means, could also be your treasure trove. Now is the time to own your dream vacation home. At the surface, investment in Florida may not sound like the best investment advice, considering the mortgage upheaval - Hold. Take a closer look at the market trend and you will strike gold.
The mortgage crisis in the recent times has dampened the real estate boom in Florida. In some areas, two properties are now available for the price of one. It is common to see many county courthouses holding c ounty auctions during the week. Though the locals stay off from investing in properties, the money flowing in from European countries is keeping the market afloat. Investors from England, Russia, and Scandinavia have been purchasing condos in auctions and foreclosure sales as well.
The gloom in the market today could be the right opportunity to create wealth in future. A careful investment choice today could be your jackpot tomorrow. Markets are limping back and have been positive in the second quarter of this year.
Florida, blessed with a hospitable climate and miles of sandy beaches, has long been the most favored holiday destination in the world. Florida offers vacation properties to suit different incomes, styles and preferences. Multi million dollar estates, manors or the condominiums, town houses, luxury villas, single family homes and the range is endless.
Central Florida
Orlando and Kissimmee are the top tourism destinations of the world. Proximity to the theme parks and beaches, and the upscale malls restaurants and clubs makes these cities the most favored spots for investment in Florida.
Orlando offers properties that match requirements of any family size and income levels. Properties located close to the theme parks are always in demand and are a good choice
The foreclosure trend is expected to bottom out soon, and the best buying opportunities would soon become scarce. This is the time to buy the luxury villa you always dreamt.
A bounty of popular and affordable Condos and Town homes are up for sale in Orlando.
Town house communities are not only affordable, but also offer additional shared facilities such as swimming pools and parks. Vacation bungalows and semi bungalows are other convenient investment properties. With fewer overheads the condos and town houses are a good value for money than a villa. The recent trend of owning a condo hotel is a smart choice. The large numbers of property for sale make it a buyers market.
Orange County courthouse holds auctions of foreclosed properties on Tuesdays, Thursdays and Fridays in a week. This could be a good opportunity to pick up a vacation property, for investors looking at long term benefits.
Davenport, Southern dunes, Clermont, Tampa, Sarasota are other popular destinations in Central Florida, that could be considered for property investment. Although a buyers market currently, Sarasota seem to be taking a good lead in the market recovery.
North West Florida
Property prices have not registered a very steep decline following the mortgage crisis in North West Florida.
Pensacola, a hot spot on the coast, seems to be recovering from the crisis rather fast than others in the state. The volume of property sales has increased every month in the last nine months. Supply also has remained stable. Most analysts feel that the bad times are over and relief is on the way. The newly constructed properties could be a better buy, due to the heavy supply in the market. Negotiate fiercely for some handsome bargain its a buyers market out there.
St. George Island, Apalachicola, Carrabelle,, and Mexico Beach, Bob Sykes cut, Eastpoint Port and St. Joe are some picturesque towns on the Emerald Coast and offer some good buys.
North west coast properties are still undervalued when compared to other counties in Florida. A sharp upward movement in the prices is expected, particularly with ocean front and gulf view vacation properties.
Additionally, the new Panama City International Airport, likely to be opened in March 2010, is also expected to boost the property values in this area.
North East Florida
The north east area mirrors the situation in the rest of Florida. The crisis has caused a significant drop in prices, when compared to other areas in the state. Though the outlook is grim, long term investors have ample opportunities as the properties are affordable. In many cases, a five bed room luxury vacation home is available for half the price it was during the boom. Golf homes and water front properties are other property choices besides condos and villas.
Some fine properties are available in Ponte Vedra, St. Augustine, St. Augustine Beach, Vilano Beach, Porpoise Point, Crescent Beach, Jacksonville Beach, Atlantic Beach, Neptune Beach, Turtle Shores, Marsh Creek, Palencia & World Golf Village, the St. Johns River areas.
Gulf Coast properties
If you dare to look beyond the pessimistic pictures of Florida real estate market painted by the media, you shall see the tiny beginnings of recovery. The uptrend is evident in the sales figures seen over the last 6 months in the Gulf coast of Florida.
Cape Coral and Fort Myers have seen a consecutive increase in sale volumes in last six months, particularly the single family home segment
The long incredible sandy beaches and the breath taking coast line of the gulf coast are immensely popular with foreign investors. Fort Myers, Cape Coral, Naples, Punta Gorda, Bonita, Sanibel and Marco Island are all picturesque water front cities that offer excellent access to Gulf of Mexico. Most cities also provide canal systems. A variety of water front properties are available to choose from Gulf Front, River front, Sailboat Access canals, Gulf Access Canals, Lake Canals. Majority of the properties will be available on the canals. Properties closest to the gulf sell at a premium. Properties at the intersection of the canals offering a scenic view sell at higher prices. Old Florida style cottages are also in demand
There is little doubt that the gulf coast property could provide both a perfect holiday home and a long term investment. However if you are eyeing the rental income then a word of caution here - there are lot of rental restrictions in the gulf coast and it calls for a careful study.
South Florida
South Florida seems to be the worst hit by the mortgage crisis. Florida s Treasure Coast is seeing a trend of some of the most desirable and expensive properties falling to foreclosure. Some analysts predict a further 10% decline in the prices.
Miami, South Beach, and Aventura, some of the hottest markets in South Florida, took the brunt of the drop in value and demand. Foreclosures have not spared the mansions, chalets and the upscale apartments. Properties in Miami are selling at a historically low price.
Boca Raton, known for the affluent high income residents, seems to be limping back to normalcy. The prices seem to have stabilized and increased sales are being reported in the single family home sections. Everything said and done, the buyers seem to hold an advantage currently. Most activity is now focused on western outskirts that boast of some of the most affluent gated communities in the US.
Fort Lauderdale, is seeing brisk activity and the supply seem to become scarce. Water front properties and town homes at Victoria Park are hot properties.
Florida Will it see the boom again
Though some real estate analysts call the price decline as a crash, Florida still has all the elements of a booming real estate market. The growing job opportunities and increased migration are all positive indications in this direction.
As for now its a Clearance sale out there! Its not too late to join the Gold rush.
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