Florida Real Estate, Tourism and Immigration News

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

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

There were a couple of good articles in the Sentinel this week where Orlando and Orange County were mentioned in future growth and recovery projections:

Orlando among nation’s next boom towns

Here’s a bit of bright news for recession-weary Central Florida:

Forbes has ranked Orlando 10th in a list of US cities poised to become America’s next boom towns.

The cities, Forbes says, have struggled through the recession but both are well positioned for strong growth once the economy finds some sustainable mojo.

Of Orlando and Phoenix, Forbes.com writes..

“They still have more jobs now than in 2000. Their demographics remain surprisingly robust. Despite some anti-immigrant agitation by local politicians, immigrants still seem to be flocking to both of these states. Known better as retirement havens, their ranks of children and families have surged over the past decade. Warm weather, pro-business environments and, most critically, a large supply of affordable housing should allow these regions to grow, if not in the overheated fashion of the past, at rates both steadier and more sustainable.”

Orlando was the only Florida city that made the top 10.

Topping the list was Austin, Texas, followed by Raleigh, N.C.

and some new growth rates based on projections from the 2010 census …

Orange County, FL expected to lead Florida growth

Orange county is projected to lead the state in growth over the next 30 years, according to new population estimates. Orange is expected to increase its population by 670,000 by the year 2040, outpacing Miami, Tampa and Palm Beach.

The new projections are the first based on the 2010 census. They show Orange County outpacing Miami-Dade and Hillsborough counties, while Osceola County is predicted to add more people than Broward County.

“The expectation is that eventually we will get out of this recession and things will return more to normal,” said Stan Smith, director of the Bureau of Economic and Business Research at the University of Florida.

Orange County also will benefit in the future from the continual movement of the state’s population from coastal areas into interior counties, said University of Central Florida economist Sean Snaith.

Florida, in recent decades, has begun to mirror California, where the expense of living in Los Angeles and San Francisco spurred growth inland, Snaith said.

“As the cost of living in the coastal areas becomes more expensive, that squeezes population growth toward lower cost-of-living areas,” he said.

Another indication, hopefully, that the recession may be truly over here in the Sunshine State of Florida.

A great time to buy!

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914
Direct (Mobile) 407 620 7777

British-American Chamber of Commerce Advisory Board

Email Us

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

THIS PROPERTY HAS SOLD.

PLEASE SUBMIT A:  Custom Search Request

BRITISH HOMES GROUP Florida ~ Specialising in Florida Real Estate

Brand-New Luxury 5-Bedroom Luxury Villa Close to Disney

A BRITISH HOMES GROUP “BEST BUY”

Just Reduced $30,000 to

$239,000!

Pool, Spa, 5 Bedrooms and Close to Everything!

• Over 2,600 square feet of air-conditioned living space
• 2 En-Suite Master Bedrooms plus 3 additional bedrooms
• Upstairs Theatre and Game Room
• Backs on to wooded Conservation Area
• Minutes from Disney, 3 Championship Golf Courses, Supermarket and Shops
• Ideal for Second Home, Long and Short-Term Rentals

FINANCING AVAILABLE

For Overseas investors (including UK) with a 30%/ $71,700 deposit

THIS SPECTACULAR BRITISH HOMES’ “BEST BUY” WILL NOT LAST!

So if you are at all interested please contact MARK SHORE, our UK/Florida property specialist (from Bristol!), directly.

Mark will give you full details on this and other great buys in the Disney area and help you with the mortgage financing arrangements if needed – all in time for you to enjoy this year’s “Season” in the Sunshine State of Florida!

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

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

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914
Direct (Mobile) 407 620 7777

British-American Chamber of Commerce Advisory Board

Request more information on this home or submit a Custom Search Request

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

By Inman News | Press Release

Nearly 40 percent of the 23 most-popular U.S. cities among non-American visitors to Trulia are in Florida, according to a blog the property search site launched today.

The blog, Trulia Insights, will feature data visualizations of housing data on a weekly or bi-weekly basis. The first such infographic details the U.S. cities to receive the biggest share of traffic on the site among non-American visitors in the first quarter. About 5 percent, or 1.4 million, of the site’s unique visitors during the first quarter were from abroad, Trulia said. The site attributed the high level of interest among international site visitors to “falling (U.S.) home prices and currency exchange rates in their favor.”

The most popular American cities were Los Angeles and New York, which were among the top five most-searched cities for visitors from the United Kingdom, Australia, France, Germany, Brazil, Italy, Russia, the Netherlands, Sweden, China and India. Nine of the 23 most popular cities were in Florida with Cape Coral, Fort Lauderdale, and Miami taking the lead.

That interest may be due to both deep discounts on the state’s real estate and a perception that the state is “friendlier to non-citizens,” the site said.

Florida cities were especially popular with folks from Canada, the country with the biggest share of traffic on Trulia from abroad. The United Kingdom had the second-biggest share, while Australia had the third-biggest share.

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914
Direct (Mobile) 407 620 7777

British-American Chamber of Commerce Advisory Board

Request more information on buying a home in Florida or submit a Custom Search Request

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