Florida Real Estate, Tourism and Immigration News

While the Florida market teems with an oversupply of homes and the pound remains strong, there has never been a better opportunity for UK real estate buyers to snatch up bargain Orlando dream homes.  Our team at British Homes Group has helped hundreds of British families find vacation homes in Florida over the years.  With the pound at a 26 year high, the Brits have a significant advantage over US buyers who are not only faced with trying to afford a home but also with a difficult mortgage market.  Developers in Florida notoriously over-built, which means that there is a ton of inventory up for grabs.  The economy remains strong with healthy job growth, so this is a great area to invest in as the market will likely level when the inventory wanes.  For now, sellers are highly motivated are bargains are available for the savvy investor. 

If buying real estate overseas seems a daunting process, don’t worry – our team at British Homes Group can help.  We guarantee impartial, professional advice on the current Florida market, on sales and mortgages and much more.  Our goal is to provide the UK real estate buyer with a completely hassle free transaction. 

Our Orlando real estate team is unique in that we have both British and American professionals who are experts in both UK and US property purchase and financing procedures.  Through co-brokerage arrangements and the availability of the Florida Property Multilist, We have access to one of the largest property databases available in Florida.

Our British home loan division can also help the British home buyer with access to fixed and flexible mortgages in a variety of currencies.

Still unconvinced?  To give you an idea of the available Orlando real estate bargains – you could be the new owner of a 5 bedroom, 3 bath fully furnished Clear Creek home with a pool just minutes from Disney for only $225,000.  Now that’s the real deal.

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search 

Right Move Overseas (http://rightmoveoverseas.co.uk/) recently announced property search numbers for the first two quarters of 2008.  UK buyers performed some 10,200,000 searches for overseas property.  Searches for US properties were up 50% and averaged about 190,000 per month.  Of the ten most popular destinations, Spain and France topped the list with a combination about about 1/3 of the total searches while the USA ranked third.  Although searching is up across the board the number of physical inquires remained similar to the same period in 2007. 

UK buyers are still showing a lot of interest in what is available but many seem to be waiting for their own properties to sell or for the exchange rate to become more favorable.  Many are also waiting for markets to hit rock bottom which they believe hasn’t happened yet.

Following is the list of country rankings in terms of search popularity:

1. France
2. Spain
3. USA
4. Italy
5. Portugal
6. Bulgaria
7. Cyprus
8. UAE
9. Greece
10. Turkey

Looking for your Orlando dream home?  Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search 

The  Magic Kingdom really is quite magical isn’t it?  For those of you who have not revisited your childhood dreams in nearly two or three decades – the trip down memory lane is highly recommended.  Many of your favorite childhood Disney rides remain the same as they were thirty years ago and had your first visit been today, Disney’s secret would have been safe!  All those rides are just as appealing today as many have been updated and refreshed, but still maintain the same original charm.  Here are some tidbits for those of you who remember the wonderment:

Pirates of the Caribbean:  Still a favorite at Disney, this ride is exactly the same as you remember it with one addition – Johnny Depp!  That’s right, Mr. Depp is now a highlight, laughing and singing along with the rest of those swashbuckling fellers.  It’s a true delight (and for those of you wondering if the dangling hairy pirate’s leg is still hanging precipitously over the last bridge – you won’t be disappointed, it’s there!)

Swiss Family Robinson:  This one has not changed a bit – it’s still the same giant tree fort you remember, perhaps a little less "cool" from an adult perspective but the kids will love it. 

Jungle Cruise:  Another oldie but goodie, this ride is also exactly the same as you’d expect.  Your boat takes you down the river and through the jungle to the delight of your many animal onlookers.

It’s a Small World:  With a fresh coat of sprightly paint, the worlds within remain just as cheery and delightful as they were decades ago.  The mechanical dolls appear just as youthful and happy as ever! 

Splash Mountain:  The thrill, the rush, the wonder – still here and still creating knots in your stomach.  The fifty foot drop to the briar patch and big splash was just as scary and totally worth it! 

Big Thunder Mountain:  Another thriller, totally worth the build up.  This one was a barrel of laughs the whole way through!

There were also a few other events which added to the Disney fanfare – the fireworks were awesome, the nighttime lighted parade with floats that appeared to drive themselves was a real treat, and the fact that the park just seemed to stay open for as long as you wanted to be there was also a real surprise.  If you have the chance to get back to Orlando and visit the Magic Kingdom, it is well worth it. 

Relocating to Orlando?  Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search 

Recently Florida Governor Charlie Crist met with UK Secretary of State David Miliband, Chief Foreign Policy Advisor Simon McDonald and John Aston special advisor on climate change in London.  Crist also met with the House of Lords to discuss initiatives.  Crist was in London on a 10-day "Team Florida Trade and Business Development Mission" and visited the UK, France, Russia and Spain to encourage trade and investment in Florida.

Florida and the United Kingdom have strong economic ties: two-way merchandise trade is valued at $2.8 billion.  The UK also ranked second in foreign direct investment in Florida with a total of $4 billion invested in 2005.  Florida is also the UK’s top overseas tourism market – on average British travelers spend two weeks in Florida and $3,196.  72.5% of these British travelers visit the Orlando area. 

A year ago Crist signed an agreement with the United Kingdom focusing on climate policies and mutual economic benefits.  We’re looking forward to a continued successful relationship!

Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search

If you are like most Orlando homeowners facing foreclosure, you want to keep your home. Perhaps you raised your family in this home and have fond memories of the good times you’ve had. Maybe you have school-aged children, and you don’t want to move them out of the neighborhood or school district and away from their friends. Or, maybe you just dread the thought of packing up and moving.

Unfortunately, for about 90 percent of Orlando homeowners facing foreclosure, selling the home and moving to more affordable accommodations is usually the best option. If you were unable to make the monthly mortgage payments before, making the payments in the future while trying to catch up on missed payments can be quite a challenge.

Can you keep your Orlando home? That depends on several factors, which this article explores.

Is This a Temporary or Permanent Financial Setback?

If you are facing foreclosure because of a temporary financial setback, such as a short-term layoff or a large, unexpected medical bill, then you have a much better chance of keeping the home. As long as you can afford the monthly mortgage payments going forward, you should be able to work out a payment plan with the bank to catch up on missed payments.

Is Bankruptcy an Option?

If you’re behind on your house payments primarily because you’re buried in credit card debt and other debts not secured by your home, you may be able to file for bankruptcy and keep your home. Consult with a reputable bankruptcy attorney in your area to find out whether bankruptcy is a viable option for you and which assets you would get to keep.

Don’t dismiss the bankruptcy option before exploring it fully. A bankruptcy attorney may charge you $350 to $400 for the initial consultation, but it is usually worth the cost.

Do You Have Mortgage Insurance?

If you have been paying mortgage insurance, that insurance could offset what the bank stands to lose from your inability to pay and may make it more appealing to work out a deal with you or negotiate a short sale (accepting less than full payment of the loan), so you can sell the home and at least break even.

Is Your Bank Willing to Cut You a Deal?

The mortgage crisis has weakened the bank’s ability and willingness to foreclose, because they simply cannot handle the vast number of foreclosures. They may be more inclined to cut you a deal that allows you to keep making payments rather than foreclose on you. Foreclosure sticks them with a property they must rehab and sell, and your property’s value may not be sufficient to cover what you owe on your mortgage. Foreclosure usually costs the bank a lot of money.

Contact your bank and see what kind of deal they can offer you. They may forgive part of your debt, modify your mortgage to make your monthly payments more affordable, or work out a payment plan with you to catch up on missed payments over time or add them to the end of your mortgage.

Can You Borrow Money to Reinstate?

Prior to foreclosure, you can reinstate the mortgage by catching up on missed payments and penalties. If you have family members or friends who are in a position in which they can help you out, consider asking them for a loan to reinstate the mortgage.

Caution: Don’t reinstate unless you can start making your regular mortgage payments and have enough money to start paying back the loan from your relatives or friends.

Can You Tighten Your Belt?

If you are earning sufficient income to pay your bills but simply overspent your way into foreclosure, can you tighten your belt enough to get back on track? Be realistic. If keeping the home is going to place a significant strain on the family finances, moving into something more affordable may be your best option.

For information on how to obtain free or low-cost assistance from a HUD-approved credit counselor, call 1.888.995.HOPE or visit HOPE NOW.

Don’t Borrow Trouble

Freddie Mac’s Don’t Borrow Trouble website advises against borrowing trouble. Under duress, many homeowners panic and seek ways to borrow the money they need to bring their mortgage loan current. This can lead to high-interest loans and the possibility of signing over rights to your home to a con artist who offers what seems to be an easy solution.

Work with your lender and reputable professionals (an attorney, credit counselor, mortgage broker, your lender, and/or a Realtor) to determine your best course of action. The person who shows up at your door uninvited and offers to help is usually the wrong choice.

Ralph R. Roberts, GRI, CRS and his team of foreclosure experts regularly assist families facing foreclosure and have authored Foreclosure Self-Defense For Dummies (John Wiley & Sons).

Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search

Orlando has come a long way in a year – many of the city’s local attractions have been updated and even supplemented with new ideas and/or improvements.  Here’s a brief look at the year in review:

• IKEA debuted in Orlando, opening it’s doors in December of 2007 
• Prime Outlets got a major makeover – the Belz Outlet Mall got an extreme makeover now offering over 100 name brand outlet options.
• Disney Upgrades:  Spaceship Earth at the Epcot Center and the Haunted Mansion ride at the Magic Kingdom were updated and modernized.  Disney MGM got a new name (Disney’s Hollywood Studios) and became home to the Toy Story Mania interactive arcade ride.
• Universal Studios:  The Simpsons trumped Back to the Future this summer with a hot new simulator ride.  The Earthquake attraction was also updated to become a new ride – Disaster! which combines digital technologies and interactive components.
• Sea World launched Aquatica – a brand new family water park. 
• Gatorland broke ground on a $4 million complex which is slated to add 19,000 sqft of space to the attraction.
• Disney extends "Year of a Million Dreams" through the end of 2008.  This wildly popular program makes dreams a reality for Disney guests – daily prize winners can experience a rare treat such as an overnight stay in Cinderella’s Castle.

So if it’s been awhile since you took a family fun vacation, consider coming back to Orlando to experience all these news adventures!

Relocating to the Orlando area? 

Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search

Orlando ranked 22nd in foreclosure rates out of 230 metropolitan US cities according to RealtyTrac recently.  40,351 Orlando area properties were foreclosed in June.  Despite the gloomy news, single family home and condominium sales are quite healthy in key Orlando submarkets.  Those properties near good schools and highly sought after jobs are attracting a healthy number of buyers AND offers – including cash offers.  Areas such as the University of Central Florida neighborhoods are seeing some continuous action.

Rising gas prices have caused an effect on which Orlando area properties are attractive to buyers.  Many are focusing  on those closer to the downtown amenities.  The South Eola district of Orlando is becoming increasingly popular.

Although downward pressure on Orlando home prices may continue into 2009, the market looks like it could be making a slow comeback.  While affected investors will have to ride the wave for awhile, first time homebuyers and new investors will continue to drive demand and help to achieve long term stability in the Orlando real estate market.

Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search

Securing the number 10 spot of top cities for investment in the American marketplace, Orlando real estate offers a value many investors are finding attractive.  Although it ranked 32nd on the international market list, Brits still consider Orlando number one.  This marketplace is a great investment for vacation bound Europeans at the moment as the combination of strong currency such as the Sterling and all time lows on real estate prices make for an attractive investment.  Most real estate investors expect for the US market to recover and exchange rates to return to the rates of a few years ago.  If this happens, their investments today will produce excellent returns.  According to the Association of Foreign Investors in Real Estate, the US is currently the top nation for international real estate dollars with an expected 16% increase in foreign investment from last year’s $230 billion.

Orlando’s proximity to Disney, historic success with buy to let investment properties and generally strong tourism economy has made it the number one choice for British real estate investors for years.  If you’re looking for that Disney area dream home or even a gorgeous Florida beachfront condo, please contact British Homes Group.  They can help with multi-currency Florida mortgages as well as your Orlando real estate search. 

According to some UK overseas property websites, Orlando, Florida remains a favorite for British real estate investors.  Approximately 80% of Britons purchasing real estate continue to focus on Florida vacation homes.  Experts say that inquiries for other coastal areas of Florida have increased however.  This may be due to the fact the Florida beachfront properties have become more affordable in the last year.  Some properties have shown as much as a 25% reduction as compared to one year ago.  Gulf coast areas like Fort Myers have been attracting more attention. 

Orlando still tops the list as buy to let properties in the four county Disney area are perfect for family vacation getaways and short term rental properties.  The Orlando tourism economy remains strong despite the overall US slowdown.  With Disney as an anchor, there is little fear that real estate sales in this area won’t pick soon. 

California and New York are also getting nods from the Brits – with many homes priced at a bargain and the Sterling at record lows, US vacation homes in many areas are well within reach.

Contact British Homes Group today for information about multi-currency mortgages or for more information about Orlando Real Estate.

Orlando Area MLS Search

According to Forbes.com, real estate statistics for the first quarter of this year show that an increasing number of median-earning households have been able to afford metro homes in several markets.  This is a sign that buyers have started to respond to the shift in market affordability.  Cities topping the list of greater affordability were: Boston, Orlando, Washington DC and Phoenix.

The data used to calculate the affordability factor was from the National Association of Home Builders.  The fifty largest cities were compared to see which metro areas were changing the fastest.  Cities seeing increasing affordability in combination with a solid local economy or an influx of first-time home buyers made the list.

Technically, this is good news for the Orlando real estate market.  Although homes have gone through a massive price correction, more buyers can now afford to purchase homes.  This activity is key to strengthening the economy and getting us through the credit crunch.  In the previous market (from 01 to 06), price growth outpaced income growth which meant the majority of homeowners had to pay more than half their income to afford home ownership.

For more information about Orlando real estate, please contact the British Homes Group.

Orlando Area MLS Search