|
01/06/10 FLORIDA: America continues to be named as one of the best destinations for Britain's to invest in property. For a start we have the safety aspect, America has the same core values and principles as the UK, or near enough.
20/02/10 FLORIDA: America continues to be named as one of the best destinations for Britain's to invest in property. For a start we have the safety aspect, America has the same core values and principles as the UK, or near enough.
What's more in the land of the free we can buy what we want, where we want (barring a few minor caveats in some states) and on finance if we want -- though that is, as we know somewhat limited in the current climate.
America has taken some stick because of the weak pound; before Britain's could get two dollars for every pound, now they are looking at more like a dollar and 60 cents. However, that still gives them the means to buy a property and a half what they could afford in the UK.
Yes, it is true, rental income comes back in through the same conversion rate, which then gives us a reduced amount. However, bigger properties are tending to attract the bigger yields at the moment; analysts believe this is because wealthier people have been less affected by the crunch. Thus, Britain's are likely to be able to find an American property in their budget, with a higher yield than a UK property.
Of course the capital growth potential is also a factor. Many analysts are forecasting a stronger return to growth in the US housing market than in the UK, despite the recent growth in the latter -- especially in places like Orlando and Chicago. |
|
01/06/10 FLORIDA: Getting a bargain property in the sunshine state
If you want a bargain, buy a holiday home in Florida - estate agents say prices are 50% to 60% down on their highs of four years ago. The downturn in the US has been longer and deeper than in Europe. An analysis of prices for Guardian Money by the British Homes Group - a large estate agency specialising in discounted holiday homes and based in the Florida town of Kissimmee - says that in its part of the sunshine state, 19,000 homes are for sale at an average of 51% of 2005 values. |
|
Vultures are buying up property in Florida
Evidence is mounting that "vultures" are moving into some U.S. markets, snatching up depressed property. Nowhere is that more obvious than in Florida, a favored spot for international buyers. The number of existing homes sales in Florida rose 24 percent in September over a year earlier, the first increase in three years, according to the latest Florida Association of Realtors report. Sales of condos rose 11 percent. |
|
Florida's strong job growth and positive demographics will continue to support the demand for new homes
A flattening of the decline in the number of new home starts as well as a decrease in the number of total housing inventory indicates the Orlando area is heading in the direction of a necessary correction in the market. However, the high percentage of finished vacant inventory remains troublesome, said Crocco.
Although housing sales slowed, lot production continued through the end of the first quarter. In most areas of Central Florida, as in many other Florida markets, the ratio of lots to starts has reached an all-time high. In the short term, this situation warrants some attention; however, the long-term outlook remains bright.
Florida's strong job growth and positive demographics will continue to support the demand for new homes, as reflected in the pace of new home closings, said Crocco. However, home pricing must be perceived as more affordable in order to recapture demand from retirees and first-time buyers.
|
|
|
|
