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.

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