Florida Housing Market Still Looks Good to Overseas Investors
The Florida housing market has never looked so appealing to international investors, according to overseas property analysts. Homesgofast.com, a UK-based company, returned from a week with realtors in the Miami and Central Florida housing market to see for themselves what’s on offer to overseas property buyers.
What they found was an assortment of real estate and Florida mortgages ripe for the taking, despite a slowing market here in the U.S.
“Our visit has shown us with our own eyes that home buyers can achieve true value for money in Florida at this time. Only 12 months ago we saw stunning homes in the Orlando area being fought over buy enthusiastic buyers pushing prices up,” said Nicholas Marr, CEO.
“Today similar properties are now available and have dropped dramatically in price. Developers are offering a variety of incentives to buyers ranging from payments of Home Association fees, discounted Florida mortgage finance and higher caliber fittings for new homes.”
With the declines in the Florida housing market over the past year, the boom in condo availability has become a great advantage to potential purchasers and these are offered at extreme value for money.
For those looking for the security of owning real estate without the hassle of owning a physical structure or a piece of land, condos remain affordable and appealing alternatives.
And, because there are so many units on the market still being finished, builders are making very attractive concessions to potential buyers.
According to the Florida Real Estate Journal, the properties in the middle of the price range, those priced over $200,000 and less than $1.5 million, have been hit the hardest. This means that it is an ideal time to purchase, as it is a buyer’s market in a big way.
One of the hardest hit areas for builders and sellers of condos is the popular Miami area. With the boom going so strongly here as little as a year ago, many new developments are still under construction and just coming on line.
If you are looking for a new condo/apartment in the Miami area, this is definitely a prime time to apply for a Florida mortgage loan.
Randy Rieger, owner of the Housing Trust in Coconut Grove, Fla., is quoted in the Real Estate Journal as saying of condo developers:
“Many have dramatically lowered their price of their properties as a way to pay off their own loans.”
With so many condominiums available in South Florida, now is a great time to look for your stress free living unit.
SOURCE: HomesGoFast.com
