Saw this useful article from John Miller in the Business Insider. Most buyers from the UK tend to buy in the short term rental areas around Disney but a lot of the points are still relevant…

10 Tips to Buying a US Home that Buyers Should Know

With the current real estate market, many people are uncertain of how to move forward with the home buying process. Many potential homeowners are desperately seeking out tips and advice to help make the home buying process easier. With the ever decreasing home prices there are incredible real estate deals on the market that makes home buying more appealing than ever.

Foreclosure Deals has released an incredible user-friendly infographic that relays real estate market trends over the last three years, specifically comparing rental prices to home prices. According to the data, home prices have decreased by 46% and rental prices have increased by 60% just over the last three years. Because of this trend, many people are seeking home buying tips when treading the current real estate waters (especially when considering the number of foreclosure deals that are available today).

Even considering those facts, buying a home in this market may appear to be too dangerous a proposition for most would-be buyers. Home prices continue to fall and more and more homeowners fall victim to foreclosure each month. With that being said, today’s market actually has tremendous opportunities for buyers – especially in today’s uncertain times.

Here are 10 tips to buying a home that buyers should know for ultimate success while shopping for new homes and taking advantage of the decreased home prices.

1. Know your timeframe

Are you looking to stay in an area for five years or more? Or are you expecting to move locations? If you plan on staying put, buying may be up your alley. Planning on moving within five years, though, may mean you should consider renting versus buying. (More on that later.)

2. Understand the ways to finance a home

In today’s market, the traditional way to buy a home still applies. Most mortgages, though, require a 20% down payment and better-than-average credit, and are subject to more scrutiny. You can still find low down payments with FHA loans, but going at 20% or more allows you to avoid expensive private mortgage insurance (PMI).

3. Prioritize your needs and wants in a home

What do you want in a home? What do you need? Prioritize these qualities, and find your home based on what is really important to you. Too many details can overwhelm you early and often.

4. Evaluate your financial situation and limitations

How much of a home can you truly afford? The old rule of thumb was three times your annual salary; now it is closer to 2.5 times your salary. Throw in additional expenditures you may have, and also consider maintenance and property taxes. If you feel buying a home may be too expensive…

5. Look at renting vs. buying from a financial standpoint

Many homebuyers – especially today – believe buying is too costly, and choose to rent instead. It may make sense for you. In fact, according to this infographic, there are more renters than buyers, and that trend will continue. Opportunities are there for buyers, though, and anyone who wants to buy has plenty of housing available.

6. Look at renting versus buying from a personal standpoint

In addition to money, you should also consider your lifestyle. Do you want to be responsible for repairs and upkeep, or prefer a landlord handle that? Or, do you want the freedom that comes with owning a home? Many renters feel they need the flexibility that comes with renting for professional reasons, too, particularly with finding jobs.

7. Consider the home foreclosure market

If you choose to buy, there are plenty of foreclosure listings out there that are incredibly affordable and available. Some may need work, but the price savings are substantial.

8. Choose a buyer’s agent

A buyer’s agent is a buyer’s best friend because he or she is interested only in the buyer’s interests, and therefore will represent you entirely. Plus, they frequently are paid by the sellers, so their services are essentially free.

9. Always ask for lower money

In this market, many prospective buyers are afraid to haggle. Don’t hesitate; throw in a low-ball bid and work from there if you can. This is a buyers’ market, and you should take advantage and get the best deal possible.

10. Seek out pre-approval

If you are financed through a lender for a mortgage, get pre-approval before you go house hunting. This is a required step in many locations for foreclosures and REO homes, and is a valuable tool to use to show sellers that you are serious and ready to buy.

Using these tips can give you an inside track to buying a home and avoid increasing rental prices- especially in today’s uncertain housing market.
____________

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

We would be delighted to act as your “Buyers Agent” here in Florida  – and better yet ………. our Buyers Agent services are free (to you)!

Best!

Bill Cowie

www.BritishHomesGroup.com

Orlando Florida (Kissimmee Office) 407 396 9914

British-American Chamber of Commerce Advisory Board

BRITISH HOMES GROUP Florida ~ Specialising in Florida Real Estate

Orlando | Kissimmee | Davenport | Windermere | Bay Hill | Clermont

New British Homes “Best Buy” Listing!

2005 1,940 square foot pool home

4 bedrooms & 3 bathrooms

Gated Community just 20 Minutes from Disney!

$164,900

FURNISHED, beautiful 4 bed 3 bath home in a well sought after community. Tastfully decorated with Tile in wet areas.

This is the Cape San Blas model and is very spacious comprising family room & formal living area. Extended pool deck, plenty of space for al fresco dining and a West facing pool.

The British Homes Group has Florida villas listed at all prices and in all locations.

Let us help you choose the best “value” for you …at the lowest price!

Good luck!

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

Source: The Move Channel.

Investors flock to flourishing Florida…

Overseas investors are flocking to Florida, as property sales in the US state flourished in the third quarter of 2011.

The latest figures from the Miami Association of Realtors reveal that sales rose by 51 per cent compared to the same period in 2010, marking the 13th quarterly increase in a row – since 2008, house sales in Miami have been on the up, while Florida’s total transactions for single family homes have increased by 12 per cent in the past year.

“Strong demand from international buyers is fuelling robust sales activity in Miami despite low consumer confidence and high unemployment,” MAR chairman Jack Levine told Property Wire. “Local sales are expected to set a record this year that should exceed the height of the boom in 2005.”

While economic worries spread through Europe, Florida is flying in the face of consumer fear, attracting global investors into the low-priced property market. Venezuela, Brazil and Argentina are the top investors in Florida’s real estate, the MAR revealed at a conference last week. Accounting for almost 40 per cent of international sales, South America’s buyers are closely followed by Canada, France, Spain and Italy, as eurozone concerns deter overseas investors.

UK buyers currently account for 3 per cent of Florida’s sales, but the state is confident that sales will be even stronger in 2012. Since 2009 when it replaced California as the most popular property destination in the US, Florida has flourished, accounting for almost one-third of international purchases of American real estate in 2011.

And Florida’s fortunes improved further still this week, with Henderson Global Investors investing $39.2 million in a new development in Fort Lauderdale. The number of foreclosures is falling too, putting yet another feather in Florida’s property cap. The Sun Sentinal today reported that distressed sales made up 48 per cent of property sales last month, 6 per cent down on October 2010.

With foreclosures down and foreign interest up, Florida’s future is looking increasingly fruity. As overseas investors continue to flock, Florida seems to have forgotten about the recession altogether.

________________________

Might be a good time to invest in Florida property…especially given the dismal alternatives!

Sincerely,

Bill Cowie
www.BritishHomesGroup.com

Orlando Florida (Kissimmee Office) 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

BRITISH HOMES GROUP Florida ~ Specialising in Florida Real Estate

Orlando | Kissimmee | Davenport | Windermere | Bay Hill | Clermont

Residential Luxury ~ Vacation Paradise

New British Homes “Best Buy” Listing!

Brand New 3-4 Bedroom Golf Course Florida Villa!

Brand New Price Reduction!

Just 20 Minutes from Disney!

Brand new Florida villa on a prestigious golf development.

Price just reduced from $244,455 to an amazing ….

$199,490!

• 3 Bedroom with 3 Bathrooms and over 2,600 square feet of living space
• Den/Office – which could be used as an additional 4th Bedroom
• 2 Master Bedroom Suites with large family room, living room and huge 3-car garage
• Located in a prestigious gated golf community with access to Club House, Fitness Centre, community swimming pool, tennis courts and golf course
• Disney and the other world-famous “Attractions” only 20 minutes away

$12,000 “Builder Allowance” – to help offset Closing Costs/Settlement Fees!

Financing Available – with a 30% down payment!

——–

Bill’s Bit ……….. “Price” versus “Value”

Here is a classic case of “Price” versus “Value”.

“Price” equals “Cost” alone.

“Value” equals “Price” plus “Quality”

For example, a Rolls Royce priced at $10,000 is usually a better value than a Ford priced at $8,000 – even though the Ford is cheaper.

The same with villas.

A brand new Florida villa, with builder warranties and guarantees, in a prestigious, well maintained, gated, golf community close to Disney – such as this – is undoubtedly a much better value than a used home in a unknown neighbourhood, often with hidden “deferred maintenance” issues and many, MANY miles from Disney.

The British Homes Group has Florida villas listed at all prices and in all locations.

Let us help you choose the best “value” for you …at the lowest price!

But best act quickly if you are interested in this one – it won’t last long!

Good luck!

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

Saw a good article in the Miami Today from Patricia Hoyos about signs of improving home prices in the Miami area.

Experts foresee rising Miami-Dade housing prices

Residential real estate experts foresee a boost in property values due to international buyers growing increasingly interested in South Florida.

Still, with a lack of inventory, financing hurdles and more foreclosures on the horizon, the real estate industry is far from its 2005 market peak.

The state of the residential market was discussed at the fourth annual Residential Real Estate Outlook Luncheon on Friday at the Westin Colonnade in Coral Gables.

The luncheon and panel discussion were hosted by the Coral Gables Chamber of Commerce in partnership with the Miami Association of Realtors and Miami Today. Michael Lewis, Miami Today’s publisher, served as moderator.

“You can see that our monthly closings and sales are inching up,” said Patrick O’Connell, senior vice president of new business development for EWM and a panelist. “All the numbers are going in the right direction now, and that’s what we want to see.”

According to a market report by the Miami Association of Realtors, as of August, condominium sales are up 53% from one year ago and single-family home sales are up 49%. Also showing a favorable number is the residential inventory, which is down to 15,405 from last year’s 25,679 units on sale. The industry generally considers a six-month supply of residences on the market to be optimal; larger numbers tend to drive down prices.

In Florida, 31% of sales are to international buyers. In South Florida, 60% of buyers are foreign nationals, said Jack Levine, chairman of the board of the Miami Association of Realtors and a panelist. Nearly one in three international transactions in the US is in Florida, and nearly one in three international transactions in Florida is in the Miami and Fort Lauderdale area.

“The buyers are coming in here and they want to buy, and the pricing is great,” Mr. Levine said “The main problems I see are in the financing side of it.”

However, financing doesn’t seem to be a big problem for many international buyers, who tend to pay mostly with cash. Mr. Levine said foreign buyers also tend to buy residences at the higher end of the market.

Panelists agreed that the number of buyers from Brazil is increasing significantly. On average, Brazilian buyers pay about 85% in cash and only need financing for the remaining 15%, with a median purchase of $215,000, according to the market report.

Many of these international buyers are purchasing foreclosed properties as investments to rent them to others, Mr. Levine said.

“The rental market is on fire,” he said.

Around 53% of international buyers are from South American countries, including Venezuela, Brazil, Argentina and Colombia. Residents of Canada, France and Italy also represent a large number of international buyers.

Lorenzo Perez Jr., chief executive officer of Premier International Properties Inc., emphasized the need for realtors to reach international buyers through social media. With the majority of social media users not being from the US, he said, the web can be an effective way of reaching potential buyers.

Because of these international buyers, panelists predict that next year property values will rise.

“We do foresee an increase in values in properties,” said Mayelin Carbajales, vice president of Mercantil Commercebank’s residential lending sales department. “It all depends on the market. Currently, in Dade and Broward and Palm Beach, we are seeing an increase in value because of the foreign national buyers that are buying there.”

A major problem currently facing the residential real estate market is having limited inventory.

Mr. Perez said there is a demand for properties, but there hasn’t been much inventory placed out there. High numbers of bank-owned real estate properties continues to be a problem that could continue to hurt South Florida’s real estate in the upcoming year. ”From a banking perspective, we are going to see an increase in foreclosures,” Ms. Carbajales said. “We are also seeing distressed borrowers.”

According to Mr. O’Connell, the universal message from his contacts in the banking industry is that a lot of bank real estate owned properties are in the pipeline. He said real estate owned inventory in the market is currently down 50% to 60% from the peak.

In the luxury homes market, he cited a 30% decrease in inventory.

Mr. Levine said he expects the real estate owned inventory to be “gobbled up as soon as it comes back up in the market.” The question remains when these properties will be listed again on the market.

Also hurting the real estate industry are banks being more hesitant to lend than in the past.

In coming months, banks are going to require higher down payments and increase credit score requirements, Ms. Carbajales said. Overall, she predicted, standards across the country for borrowers will be raised.

With the number of foreclosures still high, banks are continuing to be concerned about the risks associated with lending, she added.

The panelists said they don’t expect foreclosures to slow down in 2012. But on the bright side, they anticipate that interest from international buyers will remain strong, increasing the value of properties.

“We aren’t able to predict with crystal balls,” Mr. Levine said. “We try to pick up trends, but it’s really, really hard, especially because there are so many moving variables.”

————-

In Florida property it appears that what goes down must come up!

Good hunting!

Bill Cowie
www.BritishHomesGroup.com

Orlando Florida (Kissimmee Office) 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

Here are a few good snippets from today’s Sentinel relevant to the need for long term letting inventory in our main areas. (Orange, Osceola, Lake, Polk)

From an new investors perspective it highlights a local residential demand for long term rental inventory, for an owner that currently short-term lets their home,  perhaps a look at switching to a long term tenant?

Please call or email us if we can help with any questions or property searches.

Orlando booming rental market means good things

An investor paid cash last month for a four-bedroom, three-bathroom house with a three-car garage in the Lee Vista area and immediately had a pool of potential renters competing to move in.

“I stuck a sign in the yard, put it on the MLS and had two dozen showings within three days,” said real estate agent Bj Edens of Re/Max Town Centre, who handled the property. “Things are crazy out there … I’m expecting it to continue for a little while until we start to see the loan market loosen up.”

Today’s rental market has the hallmarks of the frenzied housing market circa 2006, when buyers were willing to ask, “Where do a I sign?” before they even walked through a property.

But this is no bubble.

This is the beginning of the correction of the market’s radical over-correction.

Ever since foreclosures started rising, so did the demand for rental properties.

Thousands of former homeowners who either ended up in foreclosure or shed their house in a short sale are frozen out of the buyers’ market until they rebuild their credit.

Perfectly credit-worthy people are choosing to rent because they don’t want to gamble on values taking another nose dive.

We’re raising a generation of renters who are scared to buy after watching their parents struggle through the housing bust.

At the same time, housing prices and interest rates are at historic lows.

All of that adds up to one very important fact that points – finally – to a healthier housing market: Investors can get good enough deals on houses and command high enough rents that being a landlord is no longer a losing proposition.

People are starting to make money in the real estate business again. And that’s a step toward normal in an otherwise depressed market.

Scott Hampton owns a company that manages about 500 rental properties and launched a new division that charges would-be tenants a $350 flat fee just to help them find a home.

“The houses go so fast, we’re finding 70 percent of the people sign up for it,” said Hampton of Hampton & Hampton Leasing & Management Inc.

Hampton, who owns the property management company with his wife, said they have hired seven leasing agents who charge fee to help tenants secure a property. People are willing to pay because they often have trouble even getting a returned phone call from landlords who are overwhelmed with multiple inquiries from potential tenants.

Another good sign for housing: as rental rates increase, more people who have good credit and can qualify for loans at today’s low interest rates will find it just makes more sense to buy.

With rents hovering between 75 cents and $1.50 per square foot, a monthly mortgage payment could be cheaper than rent.

“That will definitely be a factor again,” said Maria Rampy Blanchard, general manager of Olde Town Brokers.

She said the number of rental referrals she receives has shot up and that the good properties get snapped up quickly, which allows some landlords to charge a premium.

“The inventory is low,” she said. “They rent out almost immediately, definitely within a 30-day period.”

And then there’s the newest buzz word in the business, and perhaps the biggest sign that good rental properties are in demand – “foreclosure disclosure.”

Some renters are so desperate for a good property at a reasonable rate that they are willing to sign a waiver acknowledging the house is in foreclosure and they could be forced out before the end of their lease.

“We actually have forms for that now,” Hampton said.

Bill’s Bit: “A great time for UK Buy-To-Let investors in Orlando, or convert your existing short term lets to a long term lease?”

Please call us email us with any questions.

But better move quickly – and, of course, carefully!

Happy (bargain) Hunting!

Bill Cowie President

Kissimmee Office 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

15 US Cities Where Home Listing Prices Are Rebounding

Prices are rising in Florida.

Our cities have had the largest year-over-year increases in their average list prices, according to the latest real estate data from Realtor.com.

We make 9 of the top 10 places for highest list price increases, based on August’s data of 2.2 million listings in 146 markets.

Nationwide, the average list price is $320,325, up 2.36 percent year-over-year.

Here are the top 15 cities with the highest percentage of year-over-year increases in the average list price.

1. Miami Average list price: $640,332 Year-over-year increase: 27.4%

2. Fort Myers-Cape Coral, FL. Average list price: $443,570 Year-over-year increase: 26.27%

3. Central-FL. Average list price: $405,809 Year-over-year increase: 19.41%

4. Punta Gorda, FL. Average list price: $267,066 Year-over-year increase: 16.37%

5. Macon, Ga. Average list price: $193,520 Year-over-year increase: 15.98%

6. Sarasota-Bradenton, FL. Average list price: $466,785 Year-over-year increase: 15.86%

7. Naples, FL. Average list price: $713,087 Year-over-year increase: 15.13%

8. West Palm Beach-Boca Raton, FL. Average list price: $591,895 Year-over-year increase: 14.68%

9. Ocala, FL. Average list price: $193,360 Year-over-year increase: 12.07%

10. Lakeland-Winter Haven, FL. Average list price: $181,409 Year-over-year increase: 11.48%

11. ORLANDO, FL. Average list price: $319,419 Year-over-year increase: 10.56%

12. Portland-Vancouver, Ore.-Wash. Average list price: $314,537 Year-over-year increase: 10.52%

13. Boise City, Idaho Average list price: $212,588 Year-over-year increase: 10.43%

14. Springfield, Illinois Average list price: $174,537 Year-over-year increase: 9.12%

15. Shreveport-Bossier City, La. Average list price: $211,414 Year-over-year increase: 8.34%

Bill’s Bit:

As the market turns …a great time to invest!

But better move quickly if you are at all interested – while some of the best deals are still around!

Have a great weekend!

According to the August report from the Orlando Regional Realtor Association existing-home sales in the Orlando area showed a second consecutive month of price gains from a year earlier.

The median price in the core Orlando market was $115,000 – 15 percent higher than August 2010.

Since January of this year, Orlando’s median price has increased by 21 percent.

The median last month for bank-owned sales was $81,750; for short sales it was $96,950.

The number of foreclosure sales dropped 51 percent compared with August 2010

Short sales and regular sales were each up 32 percent.

At the current sales pace, there is a 4.3-month supply of homes available for sale, also

• total inventory was down 39 percent from August 2010
• the number of single-family homes was down 36 percent
• the number of condo units for sale was down 52 percent
• pending sales (under contract and awaiting closing) – 9,502 up from 8,945 a year ago
• the average property sold for 95 percent of its listed price, the same as in August 2010

——————————————

Bill’s Bit:

If the Orlando property marketplace is indeed turning-around, as so many different market indicators are suggesting, then now could be the perfect time for Florida property investors take full advantage of our “Buyers Market”.

Why not let us help you find your dream place in the Sun?

If you are considering buying or selling a home here in Florida please contact the British Homes Group for more assistance.

Bill Cowie President

Kissimmee Office 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

New British Homes “Best Buy” Listing!

Immaculate, Fully-Furnished 4-Bedroom Villa

Close to Disney – Private Pool

Sold for $295,000 in 2007

Now Asking $200,000!

*    Completely Furnished –  even including Binds and Window Shades

*     Private Swimming Pool with Heated Whirlpool Spa 

*     Over 2,500 Square Feet of Comfortable Air-Conditioned Living Space 

*     Luxurious Master Bedroom with 3 additional Bedrooms and Bathrooms

*     Complete Privacy with Beautiful Pond and Nature View (see above) 

*     Minutes from Disney, 3 Championship Golf Courses, Supermarket and Shops

*     Ideal for Second Home, Long- and Short-Term Rentals 

AGAIN, THIS NEWLY-LISTED BRITISH HOMES’ 

“BEST BUY” ORLANDO VILLA WILL NOT LAST LONG!

If you would like complete details on this and/or our other great villa buys close to Disney please contact MARK SHORE, our UK/Florida property specialist (from Bristol!).

Mark’s Orlando Mobile Phone Number is 863-557-6443.

Good luck – but please act quickly if you are at all interested!

If you are considering buying or selling a home here in Florida please contact the British Homes Group for more assistance.

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

Fewer foreclosed homes in Orlando

Here are some numbers on the reducing numbers of foreclosed homes in the Orlando area.

Anyone hoping to buy a foreclosed house in the Orlando area is going to have to look a lot harder than they did a year ago.

There were 656 bank-owned properties listed for sale last week, according to a weekly report from the Orlando Regional Realtor Association. A year ago, there were about three times more foreclosures listed for sale, but many mortgage default cases stalled in the courts when lenders could not produce valid loan documents.

So far the dwindling supply of Real Estate Owned (REO) properties has not noticeably pushed up prices and that’s partly because appraisals are based on sales within the past six months.

The shorter supply appears to be helping families who are considering a short sale…banks have begun to realize that shorts sales maintain value a little bit better and maintain the property in better condition and so there’s less depreciation in the community.

While the amount of foreclosure listings is dwindling, the number of both short sales and regular, nondistressed listings is growing, the report showed.

The report also shows a gap of about 6 percent between the sales price and the final asking price and a gap of about 13 percent between the sales price and the original asking price prior to any price reductions.

The average original list price in Orlando for the last week of July was $216,642, and the average sales price for that week was $189,463.

If you are considering buying or selling a home here in Florida please contact the British Homes Group for more assistance.

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914