Florida Real Estate, Tourism and Immigration News

Orlando Area Home Sales may have slowed but the median price is on the up again! The median price for existing home sales in the area is up 1.61% on June 2006. This is great news, however inventory is at a historic high topping 25,000 homes – inventory has risen by 41% this year alone! Now it would take 18 months to clear inventory when 2 years ago there was only 2 months of inventory.

This is great news, home values are stable and on a slight increase fueled by international buyers and wealthy buyers purchasing second homes. All taking advantage of the huge selection of home. A true buyer market.

From an international buyers perspective – especially a Brits – the exchange rate is at its best, with the dollar the weakest in over quarter of a century.

The time to buy is now!

What do you need when you are planning on one of the hottest theme park developments in a decade? You need a contractor. Not your average contractor but one that makes the magic come to life. These specialists – such as ones which build fake rocks for instance! – are aching to get a slice of the $265million Wizarding World of Harry Potter development at Universal Studio’s Orlando.

Members of the ‘theme park building trade’ are eager to get their hands dirty. The development coincides with other theme park developments around the world in response to a global upswing in visitor numbers. The Orlando Sentinel Has the Full Report.

As previously blogged about , the demand for high end homes is still very high and this section of the market is in stark contrast of the lower end which has seen a slight slowdown in recent months. The luxury home builders are finding that they cannot keep up with demand!

Anything from the $500,000 to $2 million dollar mark is selling well! The custom homebuilders are seeing a backlog in work not in weeks but months! This is great news as it shows how popular Florida property is for invesment. There are so many gorgeous locations to have homes built on and many have lake access for boating, fishing and water skiing….the true Florida lifestyle!

FAR (Florida Association of Realtors) reported that the worst of the houseing slowdown may be over with UCF’s Economics Professer Sean Snaith reporting that the market will grow in the near future through 2009. He said the may be a "slow upward climb through 2009"
This news come amongst figures of unemployment nationwide, however locally as reported previously CNNMoney picked the Orlando Metro area top in its forcasted job grow poll for cities.

All great news for the area…