Florida Real Estate, Tourism and Immigration News

According to one of the Nation’s top Commercial Real Estate analysts, Robert Bach, the economy is still growing and Central Florida continues to make progress.  Bach believes the picture is stronger than even a few months prior.  To date there has not been a negative quarter for Gross Domestic Product Growth and the credit crisis is easing a bit.  The US Commerce Department estimates first quarter economic growth at 0.9 percent which is slightly higher than their first prediction.

Most seem to believe that turbulence will continue toward the end of 2009 with relief beginning in early 2010.  Rising oil prices could be a change factor in this equation however.  Overall nationally, certain markets are continuing to thrive.  Farm belt states are benefiting from increased crop prices while oil and gas states are thriving off the energy boom.  Recently, job loss has been tamed by growth in education and health-care hiring.  Federal tax rebates are likely to cause a short term economic stimulus as well. 

Orlando’s commercial real estate sectors, including retail, office and industrial, are holding steady.  Vacancy rates currently rank on par or better than national averages. 

Looking for your Orlando Dream Home?  Now may be the best time to invest.  Contact British Homes Group for information about multi-currency mortgages or buy to let villas in the Orlando Area.

Southern Business and Development Magazine has listed Orlando in the top two metro growth markets for 2008.  According to the magazine, the area has posted strong growth indicators for the last six years.  Economic diversity is one of the main factors lending to such strength.  The Orlando market has thriving enterprises in a wide range of segments such as: aviation, manufacturing, digital media, film and television, conventions, entertainment, tourism, distribution, simulation, photonics and optics, software and life sciences.  The life sciences segment has raised the bar for Florida growth and development with the addition of entities like the Burnham Institute for Medical Research and the UCF College of Medicine.  Several hospitals and research labs are also under construction in the Orlando area. 

Sustainable regional growth is due in large part to strong population growth and job creation as well as plans for a 60+ mile light rail system from Volusia County to Osceola County.  Last but not least is the new found housing affordability in Central Florida.  One positive result of the bursted national housing bubble.

Are you looking for an Orlando investment villa? Please use our complimentary Orlando Area MLS Search

The supply of villas for sale in and around the Orlando Real Estate market continues to grow.  While many analysts predict the market has hit bottom and will rebound into 2009, others believe we’re still at least a year out.  These are new challenges for home sellers, if you must sell now what can you do?  When the competition is tough – strategy is in order.  Following are a few proven strategies to help get your home sold in a buyer’s market:

Price:  One of the largest keys to your success is pricing your Florida home right.  In a buyer’s market the only thing that matters is what the buyer is willing to pay.  Don’t price your house at what you think it is worth, price it right for the market.  An over-priced listing will be ignored and may lose freshness and appeal over time.  Some seller’s fear pricing too low and leaving money on the table – if your house is under priced it’s possible you’ll receive multiple offers that would drive it back up to fair market value.

Market Research:  Get a comparable market analysis for your Orlando villa.  You need to know about your competition and where the market has these products priced.  Look at the most recent six month window of data, make adjustments for locations, age, sizes, upgrades, etc and come up with a range of values that makes sense based on this data.  Also see if you can get a list of the most recent sales in your neighborhood in comparison to their original listing prices. 

Internet Strategy:  Most buyers search the Internet to research buying a home.  Work with your Realtor to utilize Internet tools to your advantage. 

First Impressions:  Curb appeal is more important than you might think.  Often times buyers don’t have the ability to visualize their new home through the clutter of yours.  First impressions are key, if a buyer makes a connection on the first showing a home will often sell.  So get your home into selling shape!

Pre-Sale Inspection:  If your Orlando villa is older or in need of a few repairs you might want to consider having a pre-inspection done.  Get proactive – have those repairs taken care of before you put your home on the market so you can say you have a clean inspection report.  This can be a significant selling advantage, inspection items are often no fun for a buyer to deal with.

Flexibility:  Be prepared to deal with anything.  In this market buyers will probably expect to pay less than the asking price.  They will show up armed with market data and their own comparable market analyses.  Try to leave your emotion out of the picture, if a buyer is serious there may be a price they are willing to pay and you are willing to take.  Don’t reject a first offer flat out, present a reasonable counter offer and let them know you are willing to work with them to close the gap.  If the offer is way off base then ask your prospective buyer what data they used to determine their offer.  Often times you can use this knowledge to explain why you feel the house is worth more (for example upgrades and finishes that their comps did not take into account).

British Homes Group can help!  Contact us today for a comparable market analysis of your Orlando Villa.

Complimentary online Orlando MLS Search

Scott Mitchell, a software developer from Naples, recently developed Twisney.com – an application that allows Disney visitors to map their park vacation in realtime.  Visiting Disney?  Now your friends and family can tag along … virtually!  Mitchell’s website is a massive database allowing photo and text uploads from park visitors to map their excursions and share experiences with other visitors or family and friends back home. Using a combination of Twitter, Flickr and Microsoft Virtual Earth – Twisney users can post photo and text to the blog in realtime.  All that’s needed is either e-mail, text messaging, IM capability or a Twitter account.  If you have a mobile device you can send live reports directly from the park!

Mitchell hopes that users will share information helpful to other Disney visitors such as instant news about wait times for popular attractions.  Park visitors with mobile devices would then be able to check the status from anywhere.  All it takes is a quick email to twisney@twisney.com.

Will the idea catch fire?  Who knows, but for now Disney enthusiasts have a new technology tool to share their experiences with those who stayed home.

Take a look at Twisney.com for a demonstration and appendix of popular "virtual" Disney terms.

Relocating to the Orlando Area?  Visit BritishHomesGroup.com for an Orlando MLS Search. 

In the last few weeks the Sterling has waivered between 1.945 and 1.965, but analysts predict an increase in coming days.  Days ago the estate agency conglomerate, Rightmove,  announced that asking prices for UK property were up by 1.5% in May immediately lifting Sterling rates for about 10 minutes – the populace soon realized however that actual transactions were running at only 50% of numbers from a year ago which in turn brought rates back down.  A potential slowdown in the UK economy follows on the heels of the US economy "recession".  Many wonder whether the US is truly in recession or if the credit crisis is almost over.

Many commentators believe that the dollar will become stronger in the next 12 to 18 months due to a lag in world economy behind the US.  For this reason, the next time the Sterling approaches 2.0 may be one of the last opportunities for awhile.  Rates are expected to return back down to around 1.85 by Christmas time.  Buyers – NOW is the time to invest in your Florida dream home.  The Orlando tourism economy remains stronger than ever, yet vacancies from the credit crunch have created quite a few deals on Orlando area buy to let villas.

Contact British Homes Group today for your best multi-currency financing opportunities.

Complimentary Orlando Area MLS Search

Several home builders believe that baby boomers are looking for environmentally sensitive communities.  Boomers are hitting retirement age and many are looking for "active lifestyle" or specialized retirement communities.  Some builders are capitalizing on this trend and offering eco-friendly and energy-wise homes.  Below are some features you might expect to find in an eco-friendly home:

• green-fiber recycled insulation
• motion sensor triggered lighting
• energy efficient windows and appliances
• electric vehicle charging stations
• solar powered fans
• Solar hot water systems

Shea Homes, one of the nation’s largest home builders, is debuting in the Florida retirement market with Victoria Gardens in DeLand.  They are building similar homes in California, Arizona and Washington.

An AARP survey found that nearly half of all boomers consider themselves environmentally aware.  Fortunately going green doesn’t necessarily mean boomers will have to give up any luxuries.  In fact they are looking for luxury living in combination with energy efficiency.  Many may even be willing to pay a premium for such luxuries combined with environmental awareness.  Although boomer buying patterns haven’t yet substantiated this sensitivity – it seems to be the next "trend" in retirement living.  Will other Florida real estate communities follow in the footsteps of Victoria Gardens?  This remains to be seen, but with average energy reductions from 40-75% it seems likely. 

Please contact the British Homes Group for Orlando real estate or home loan information.

Complimentary Orlando MLS Search

According to a recent article entitled, "The Housing Crisis is Over" by the Wall Street Journal, analysts believe it is likely that April 2008 will mark the bottom for the US housing market.  While many make take this as difficult news, what it really means is that the trend is no longer worsening.  All indicators point to a slow and steady return to health.  According to national trend, home sales peaked in July of 2005.  This "bust" has lasted nearly three years yet numbers indicate 15-year lows. 

So what does this mean for the Florida Property Market?  What will stop the decline?  Technically the tables will turn due to sheer affordability.  Boomers are all coming into retirement ages and Florida is an increasingly popular place for those folks to retire.  Tourism and the local economy in the Orlando area remains strong.  Affordable home prices will drive the market back to health slowly but surely.  In fact, the boom made housing unaffordable for many Americans and International second home owners.  Home prices increased so much that people could just not afford to live in them, and thus those people stopped buying altogether.  Since the boom, prices have fallen approximately 10-15% while incomes continue to grow slowly.  The levels have come back into check. 

According to the Wall Street Journal, "In the past five major housing market corrections, every time home sales bottomed, the pace of house-price declines halved within one or two months".  While the news has been extreme during the last several cycles, the message here is that things likely won’t get worse.  The market is beginning it’s slow correction and we are heading out of this crisis.  In the meantime, Florida is a buyer’s market – there are many deals to be had – especially for Brits looking at investment properties.  With the combination of the market crisis and the strength of the Sterling, there has never been a better time to pursue buy to let properties in Florida.  For sellers, it looks like the key is time.  There is no place to go but up.

For more information about buy to let properties, Florida Villas or currency converting mortgages, please contact the British Homes Group.

Online Orlando Area Property Search   

Buy to Let properties are common for those looking to invest in their Florida dream home.  However, where you look for that home is imperative in the Orlando area.  Not all counties allow for managed short-term rentals.  For this reason Polk County is one of the most popular areas for investing.  As part of the famed "four corners" Polk neighbors Orange County where Disney is located. 

Davenport is a charming locale that is part of Polk County AND neighbors Disney World.  It offers the best of both worlds!  Surprisingly, this area has remained relatively unchanged despite the massive growth and tourism to the north.  Some call Davenport, "The Gateway to the Ridge" as the Lake Wales Ridge hills originate here and stretches south for 100 miles – the setting is quite lovely.  Situated along US 17 and just east of US 27, convenience to the tourist giant is key for healthy rentals.  Davenport is actually only two square miles in size, yet it is the center of a booming residential area.  Disney’s rapid expansion in combination with acres of vacant land formerly used for citrus growers has created the perfect environment for many new subdivisions to thrive. 

Recently, The Heart of Florida Regional Medical Center relocated to a complex just west of the Davenport area which has also helped to stimulate growth.  This area is largely popular with UK buyers as it offers a healthy buy to let market and provides a myriad of recreational opportunities.  Citizens enjoy a public swimming pool, two tennis courts and basketball complexes, four ball fields, and several children’s parks.  The town also supports a summer youth recreation program and an adult sports league.

For more information about available Davenport properties, Davenport school profiles and more please contact the British Homes Group or use their complimentary Orlando Area MLS Search

When it comes to Disney, you can’t help but think of the king of the jungle.  Walt Disney’s Animal Kingdom offers a rare glimpse into the lives of many animals.  This massive park was build in 1998 with the utmost care and conservation effort. They recently celebrated the 10-Year anniversary of their inauguration.  The 500 acre park is five times the size of the Magic Kingdom and reportedly cost Disney $800 million to build.  It is also the largest single Disney theme park in the world!  Here are a few things I bet you didn’t know about this family-friendly park:

• The first animals to inhabit the Animal Kingdom were giraffes and gorillas.
• The "Iconic Tree of Life" is based on the design and structure of an oil rig.  The tree has more than 10,000 leaves and 325 animal carvings
• The opening of the Animal Park was celebrated in conjunction with an increase in ticket prices for Disney World.  One adult admission cost $44.52 10 years ago.  Today the price for the same ticket is $75.62
• The Kilimanjaro Safari Attraction is not only a popular one with guests it also allows the park to keep maintenance costs low.  Zebras, elephants, rhinos, lions and more graze the land eliminating the need for mowing!  This part of the park has never been mowed by machine.
• The Park opened with only one thrill ride, Countdown to Extinction, today the Park operates three thrill rides: Everest Coaster, Primeval Whirl and Kali River Rapids
• A park-wide audio cue signals animals that it’s time to come in for the night!  Most of the animals go to shelters at night but if they want to stay out – it’s their choice.

The park is visited on a yearly basis by close to 9.5 million people making it the eighth most visited park in the world.  Disney is the heart and soul of the Orlando area.  The company helps to drive its economy and provides the oasis for rental investment properties to thrive in the Orlando real estate market. 

Please contact The British Homes Group if you are interested in purchasing Buy to Let properties in the Disney area.

Thanks to what some are calling "the credit crunch", the Florida real estate market may be flat but it could be just the right time for investors to step in and seize the opportunity.  The Orlando real estate market has only one place to go – up!  The UK buyer is in an especially unique position right now with such a weak dollar.  While the news is often negative, gas prices are sky high and the dollar is at an all time low, there are Florida real estate deals to be had for the savvy UK buyer.  Although the overall picture is portrayed as dismal, Orlando continues to gain popularity as a retirement destination and all indicators suggest the market will bounce back.

Considering the more restricted US mortgage industry, What do you need to do to obtain your Florida dream home?  Get smart.  Talk to your Realtor or Mortgage Lender about your options.  Often times you’ll find there are new requirements that are not insurmountable, but require thought and preparation.  Lee Weaver, Director of Operations for the British Homes Group suggests:

"Stated income mortgages – which don’t need proof of your declared income – are still available but at higher deposit levels.  US dollar fixed or adjustable products are common but by far the most popular is the multi-currency product because of its flexibility to switch to dollars at a later date." 

Cash buyers are in the strongest position with increased bargaining power, but cash buying also comes with a loss in tax advantages so you really need to weigh the options.  Lee suggests getting a "Good Faith Estimate" from your lender so that you have the information needed to make the right decision. 

There are also a few things to check for if you’re considering Florida Property:

• Research "developer incentives" – make sure they are legitimate and be wary of those asking for large sums of cash upfront.
• If you’re counting on rental income make sure you buy a property in a county with no letting restrictions.

For those of you waiting for devalued properties to return to health - weather the storm, baby boomers are retiring in droves and the Florida market will bounce back.

Read this great article, A Time to Buy, from the Show Issue of the recent London Exhibition, A Place in the Sun.  Please also feel free to use our complimentary online Florida MLS Search.