Buying Property Overseas

Florida is hot for investment?

Florida has annual average temparatures of 72.4F but my recent trip to the sunshine state was not about the sunny climate it was to see with my own eyes what Florida has to offer. It seems that the Florida housing market has never looked so appealing to international investors. I have just returned from a week with realtors in the Miami and Central Florida area to see for myself what's on offer to overseas property buyers. My visit has shown me with my own eyes that buyers can achieve true value for money in Florida at this time. Only 12 months ago I saw stunning homes in the Orlando area being fought over buy enthusiastic buyers pushing prices up. Today similar properties are now available in their plenty and have dropped dramatically in price. Property developers are offering a variety of incentives to buyers ranging from payments of Home Association fees, discounted mortgage finance and higher calibre fittings for new homes. We even saw resale property in Central Florida that included the owner’s boat and Jet Ski. The Florida market appears to be very competitively priced offering big homes for little money. Speaking to realtors in Florida it is clear that the rental markets are still strong. So is this a good time to buy in Florida?

Plenty of Supply Means Prices are Good in South Florida

The real estate boom across the United States over the past several years slowed considerably in 2006. The slowing market has meant that in certain areas there is an oversupply of new and resale properties on the market. In one of the hotter markets in recent years, South Florida, this is quite true. For international investors, retirees and those just looking for a property in the sun, this is actually great news. While some isolated areas and communities still continue to remain sellers’ markets, most of the area is now a buyer’s market. That means it’s a good time for real estate investors and buyers to get involved in Florida real estate. Some of the areas in South Florida where prices are at their best are the Miami/Fort Lauderdale area on the east coast. Also on this side of the state are the Palm Beach communities, north of Fort Lauderdale. On the Gulf of Mexico side are the cities of Fort Meyers and Port Charlotte.