Florida Real Estate, Tourism and Immigration News

One of the biggest building booms to hit the area is so new that investors are being told to consider condo-tel units as a lifestyle purchase rather than another investment in their portfolio.

These units, if built in the Orlando area, over 15,000, would make the Orlando area the densest concentration of units in the country.

Condo-tels are a great way of owning a vacation home while often having it backed by an internationally recognised hotel chain. These homes differ from timeshares as a timeshare property has many owners where as a condo-tel room has one owner who can chose to rent their unit as part of a hotel business plan.

The issue is that hotel room rates and occupancy levels fluctuate so the investment is only right for certain people, after all several hundred thousand dollars for a hotel room is a lot of money but it works for some people as a lifestyle choice more than an investment.

As reported by the Orlando Sentinel.

Read the full story here

The value today soared to $1.96/£1.00 – only 2 weeks ago the value was falling to around $1.92/£1.00…

Now could be the time to buy Florida property at this great rate!

In the wake of ‘Tonight with Trevor McDonald’ last week where the episode was titled: Florida Beached. Issues covered were horror stories from Brits who had bought in the sunshine state.

This highlights more than ever the need to get accurate, timely information to help you buying your holiday home in the sun. The British Homes Group has a dedicated team of professionals who can assist you in buying and financing your Florida home. We will give you the advice which is best for you where we can. If we are unable to answer your queries we will try to put you onto someone who is best qualified to do so.

Despite scaremonger reports, Florida has a stable economy and its property is relatively cheap by international standards – with a new Governor who is waging war on reducing property taxes and insurance rates. It is an established and mature market, unlike many European counterparts.

Whilst many UK press agencies speak of a "Housing Crash" it has to be kept in mind that the US is the third largest country in the world and like the UK there are areas, which suffer more than others. Florida has generally in the past been immune from the brunt of a correction as many buyers are foreign nationals. In the Orlando area especially there has been an increase in prices where as some other areas are suffering a small decrease in prices.

Inventory is high in the Orlando area, prices are stable, interest rates are low and the area has an economy, which is still growing – with hundreds of people moving to the area every day!

The best advice we can give is: Call us, we can put you on to the right Realtor in the area you want and get you talking to a Mortgage advisor who will be able to offer you the best product to suit your needs.

Current exchange rates are relatively stable for the Pound and the US Dollar even in light of the recent market correction. In mid March the rate is hovering around the $1.93-$1.95 to the £1 mark. However you only have to look back to mid march last year where the Dollar was hovering around the $1.75 to the £1 mark, after falling from a level similar to today.

What does this mean? This means that US Dollar investments from a £GBP perspective are very cheap. With relatively low interest rates and an exchange rate nearly brushing the $2 to the Pound mark now could be one of the best times to buy a Florida property.

To put this into perspective, $250,000 is a good starting point for a villa with pool in the Kissimmee, Davenport area at today’s exchange rate (3/19/07 – $1.94/£1) that equates to: £128,462.

The median home price in Orlando has increased to just above this level, to $255,000.

A BARGAIN!

What would £128,000 buy you in the UK? Well, according to the Land Registry, not a lot. The latest figures from them (Jan 2007) show that the Average Price for a terraced house in England and Wales is £136,106. – That is the cheapest average price. A detached property average price on the list was £266,770!

What would the £128,000 buy you here in the Orlando area? Well, it does depend on location, but if you looked in the popular Poinciana area near Kissimmee you could have a 2005 4 bed 2 bath detached 2 story corner lot executive home with over 2800 sq. feet - nearly 3 times the size of the average UK home of around 1000 sq. ft!

We specialise in the British mortgage which is a sterling mortgage for your Florida property, which has a minimum deposit level of 20% – much lower than US Lenders.

In short, for around a £25,600 deposit you could have your dream home in the sun!

GET IN CONTACT WITH US TODAY FOR YOUR FLORIDA DREAMHOME!

0800 096 5989

A 342,000 Sq. feet retailing center in Clermont will give south Lake County its first movie theatre, expected to be 16 screens this theatre will give Clermont and Minneola Residents a movie screen that is more accessible than previously, where they would have to travel to the West Oaks Mall some 25 minutes away on Hwy 50.

New Home developments are springing up in the area, particularly around the Hartwood Marsh Area. This area is further away from the Disney parks than most, but offers a different pace of life, offering a small community feel yet with the amenities of a larger town. Clermont is that largest city in Lake County and is one of the fastest growing areas in the USA, with its famous chain of lakes and rolling hills it offers a true ‘alternative’ Florida.

Orlando Suburb to get 285 single family homes in a multi-million dollar development by Centex Homes.

Centex Homes, a division of Centex Corp. extered into a contract on Feb. 20th to buy 75 acres from Ocoee for 12.5 million.

The development will be next to Lake Apopka and the homes would be part of the larger 390-acre Ocoee Cornw Point Development that abuts Lake Apopka. Plans for the project include a news elementary school and a 10-acre waterfront village centre on Lake Apopka with a small marina, restaurants and small shops as well as a 30-acre community park.

The style of homes will be "new urbanist" – Similar to Celebration and Baldwin Park. – A real small town feel of mixed designed with neighbourhoods within walking distance.

Most Brits have never heard of the City of Mount Dora, just under an hour north of the bustling city of Orlando is a different world, of horse ranches, open orange groves and pasture amongst green sub-tropical rolling hills.

Mount Dora is nestled up against Lake Dora, a prime location for fishing and boating. This historic town is famed for its antique markets and it art. With downtown full of quaint shops and Donnelly Park taking up a whole block. This is small town America at its very best, with boutiques, iced cream and coffee shops. The gorgeous brick buildings and southern architecture will charm all.

What better place to have a second home away from the hustle and bustle of Orlando and its theme parks. This is the alternative Florida.

Remember here at the British Homes Group we can put a Realtor in your search area at your fingertips and can help with financing accross the whole state, your property need not be a Short Term Rental Villa near Disney, it could be a victorian house in historic Mount Dora.

British Tourist Christine Brittain did not thing that her trip to the Sunshine state to shop, sightsee and visit Epcot would turn out like this.

Whilst poolside at her friends vacation home she heard screams from the neighbouring property. Brittain, her son and fellow Brits Maureen and Barry White charged into the burning house as they saved 57 yr old Clarilia Mondesir, a paralysed woman who has suffered cancer and a stroke. The Brits helped the woman out of the house and managed to grab some photos so they wouldnt be lost in the blaze.

Investigators think that an 8yr old nephew was playing with matches in his room and accidentally dropped a lit match onto his bedding. Jack Fillman, Assistant Chief for Lake County Fire and Rescue said "He panicked probably and dragged the burning blanked, leaving a trail of fire as he went running through the house"

Read the Full Story Here by Stephen Hudak of the Orlando Sentinel.

British Property owners need not fear that it will be difficult to get a good pint any longer. After a day lounging around the pool what better way to cool off than with a nice cold pint. Wouldnt it be nice to own a home here? Check out our featured listings all of which are a short drive to this pub.

This mall at the top of International Drive features over 60 specialty stores, 11 dining destinations and 4 exciting entertainment venues! It is soon to boast the famous British Pub the "Cricketers Arms" along its line of venues. This pub is one of the oldest in Orlando and is soon to call the mall its new home. They have broken ground and hope to be open by the end of the spring of this year!

So take time out from the property search and visit "A Little Piece of England" in the Heart of Orlando, Florida!