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.

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Real estate sales for homes and condos within a two mile radius of downtown Orlando increased 37% from March to April and 15% from April to May.  Overall the market was up 9.9% and 3.7% respectively.  Earlier this year, the urban segment lagged behind the overall growth trends.  Experts believe the switch is likely due to the increase in gas prices in combination with an attractive urban lifestyle. 

Commuters are looking to save on daily gas costs by walking, car-pooling, scootering or cycling to work.  The average Orlando area commute is 23.4 minutes - which equates to approximately $500/month in gas.   

Price reductions in the downtown center are helping to fuel interest.  Properties once priced at over $1 million are now selling for much less.

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

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Invest in your Florida dream vacation getaway!  Daytona Beach Condo-tel offers the perfect opportunity to buy into the FL beachfront living lifestyle.  This residence is offered at a great price and is RIGHT ON DAYTONA BEACH.  Your balcony overlooks the ocean.  The units at this beach complex are undergoing further renovation.  Defray your costs with short term rentals!  HOA Dues are $350/month and include: cable, electric, water, etc.  The unit sleeps six with two queen beds and a futon.  You also have a kitchenette for any cooking needs.  This is the UK real estate investors dream - Florida beachfront property for around £60,000!

1 Bedroom, currently offered at $120,000

Please contact the British Homes Group today for more information about 800 N Atlantic Avenue #405.  Or to search more available Orlando area real estate, use their complimentary Orlando MLS Search. 

According to Google Trends, UK Buyers are listed second as the largest group of "searchers" for foreign property investment over the web.  A new trend for UK citizens searching for investment properties in Dubai, Egypt and Bulgaria online has emerged in the last year.  British real estate searches for the popular holiday destinations of Spain, Portugal, Cyprus, France and Florida remains steady. 

Citizens of Ireland are right up there with Brits searching for real estate online.  According to the Office of National Statistics, 250,000 British people own a property abroad.

With the strength of the Sterling against the dollar, there has never been a better time for British people to find Orlando, Florida investment and buy to let properties.  Combined with the US credit crunch, many Brits can find a steal 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.

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The top Internet destination for children’s entertainment is about to get another update.  This will be the second revision to Disney.com in the last few years.  Changes are focused on introducing more video and mobile content to the site, including full-length movies, free games and cell phone activities.  Kids will be able to create their own avatars in a virtual world which they can connect to through their cell phones. 

Designers are working hard to provide kids with familiar experiences such as those they’ve already experienced in YouTube.  Video search pages will be similar to the process found on the Internet giant’s site.  Revisions demonstrate the challenges of operating during a time when technologies are rapidly changing.

Disney.com sees millions of unique visitors each month ($28.4 million in May) - their new endeavors aim to keep visitors at their site longer.  Their current average is an astounding 44.9 minutes (which lags behind Nickelodean by almost 35 minutes).  Disney will be holding streaming video "events" such as free weekly full-length movies and special showings such as "Camp Rock", a Disney musical.

Bottom line?  Virtual Disney is getting more and more interactive.  The company aims to entertain more and "push" sales of their wares less.  Video appears to be what consumers are looking for.      

Recent numbers in the industrial segment bode well for Orlando real estate.  Preliminary studies show the amount of available commercial space decreased by 600,000 square feet during the second quarter.  This is the first evidence since late last year that vacancies may be stabilizing. 

After two consecutive quarters of slow activity, quarter two numbers are a welcome change.  According to commercial Orlando real estate agents, lower prices are driving sales and despite tough times for residential lending, financing is readily available for industrial loans.  According to one study tracking industrial buildings larger than 10,000 square feet, first quarter numbers in Orange and Seminole Counties are down 29% from last year.  The average commercial sales price per square foot also shows a 16% decrease.  However, the preliminary numbers from Q2 should show an improvement.  Many believe the market is cyclical and will make a turn around in less than two years.

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

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Strategic Real Estate Advisors (Stratreal), the same company that invested in the Heron Tower project in London, plan to raise $1 billion to purchase luxury Florida real estate that has be repossessed by banks.  Dubbed "The Florida Prime Residential Opportunity Fund", investors aim to purchase oceanfront condos and undeveloped land that has been approved for housing.

Wealth funds from the Middle East as well as wealthy Europeans will likely seed the money for the fund.  The plan is to buy in cash and wait 7-10 years to sell.  They will initially target the Miami, South Beach, Palm Beach and nearby Star and Hibiscus Island markets however the fund may also look at properties in the Tampa and Orlando real estate markets.

A combination of the building boom and a collapsing mortgage market created the biggest surplus of condos in the Florida real estate market in about 30 years.  Prices have fallen almost 26% since the boom in 2006.

Stratreal hopes to pay about $400 per square foot for Florida homes, right now they estimate prices are around $500/sqft and are set to wait for the best bargain.

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

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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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For three months in a row, Orlando home and condo sales have gradually increased.  The number of pending contracts has also increased and the inventory declined a bit.  Could the Orlando housing market be on the way back up after bottoming out?  The Orlando Regional Realtor Association believes a slow shift is beginning toward more balance between buyers and sellers.  The following numbers provide a glimpse into the recently Orlando real estate market:

$214,000 - The median sales price of a home in the core Orlando area as of May

25,015 - The number of houses and condos available through the Orlando MLS.  This number marks the third biggest monthly decline since December 2006.

3,225 - Orlando homes under contract

2,010 - Orlando homes newly under contract.  Up 20% from three months ago.

5.94% - The average mortgage-interest rate in May.

121 days - The average days on market for an Orlando area home.  This is about 27 days slower than a year ago. 

Long story short, the market does seem to be experiencing the beginning of a slow rebound.  Will it last?  Only time can tell.  Europeans are helping to fuel the rekindling in recent months with the strength of the euro.  Many buyers are paying for their Orlando dream homes in cash.

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Can’t make it to Disney this year?  Get prepared for next year by touring the park in 3-D on Google Earth!  Disney’s four theme parks and 22 hotel locations are now available for a virtual excursion 24 hours a day.  Visitors will find 1,500 3D points of interest that allow them to click on images to get more information, purchase tickets, make reservations or map their upcoming vacation. 

The journey begins at the Seven Seas Lagoon in the Magic Kingdom - from here users can fly virtually just about anywhere in the park viewing streetscapes as they go.  To take advantage of this excellent new technology you’ll need to have Google Earth 4.3 installed on your local computer.  From there all you need to do is search for "Disney World". 

In the first phase of the virtual Disney project eight photographers worked for 10 days to shoot all of the surfaces in the Magic Kingdom.  Over 100,000 photos were taken to compile the 1,500 3D points of interest - a massive undertaking.   

Disney will use the 3-D technology as their primary online travel guide in the future combining elements into the online experience at disney.com.  They hope to make this the next best thing to actually being at the park. 

Please contact The British Homes Group if you are interested in purchasing Buy to Let properties in the Disney area.