Opportunities for Europeans to buy real estate in Florida against a weak dollar may soon come to an end.  In a recent press event, President Bush vowed US commitment to keeping the Dollar strong possibly straying from the previous "hands-off" approach. 

There are but a few ways for the US government to intervene in strengthening its currency.  There is of course direct intervention - the buying of dollars in currency markets by the US government.  This has not happened during the Bush administration, who is previously known to have touted the natural progression of free-market forces.  Then again, the burgeoning cost of gas and all time lows may have them thinking twice.  The Federal Reserve could also raise interest rates, which is seen as an unlikely candidate considering economic woes.

The new dollar discussions are likely being fueled by pressure to respond to soaring gas prices.  The Federal Reserve Chairman also recently chimed in saying that the Fed is paying close attention to the situation.  Is all this talk an attempt to make currency traders think twice about betting against the dollar?  This remains to be seen, but what is clear is that the opportunities for Brits to buy Florida dream homes at a currency bargain may soon disappear.

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

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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.

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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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