Florida Beached - ITV 10pm

[BRobson]

If anyone is interested this is on tonight.

This is the program synopsis: Until recently, Florida's weather and theme parks attracted British holiday home hunters in their droves - but many buyers are now counting the cost of a sudden property market crash. Mike Nicholson investigates trouble in the sunshine state.

 

[KayleeUK]

I will sky+ this thanks Jackie

 

[Netty]

Thanks jackie, i'm going to watch this, looks interesting

 

[natalielongstaff]

thanks dh will enjoy this

 

[Minniespal]

Hope it was good ~ I Sky+ it

 

[Goofyish]

V+ this last night and watched just watched it. I'm amazed how the US government are messing with peoples lives by not renewing work visas after 2 years!

 

[fizz13]

certainly was enough to put me off, very interesting,

 

[GarryK]

Very interesting and some really unfortunate stories - particularly the couple who have what seems to be a thriving pool servicing business employing Americans but they've been waiting 18 months to see if they will get their visas renewed.

However, Michael Nicholson got it spot on with his comments to the woman who moaned about "not being understood by Americans", "Americans are stupid" (yes, she did say that !!) and their "food is rubbish". He called her a whingeing Brit and that's what she was !!

Garry

 

[castanea1985]

We know too well the problems with visa renewals etc.. we were considering trying to 'get into' the US by the E2 route (buying a business), but after long deliberations, and knowing people who have lost their businesses (either by the business going sour, or by the embassy declining their visa renewal) and had to return to the UK. So we have decided not to go down that route!

We are looking at buying a property, especially whilst the £ is still strong, and it is (whatever that programme said) - a buyer's market.

Tracy

 

[Richard Bruvofetc]

Very interesting and some really unfortunate stories - particularly the couple who have what seems to be a thriving pool servicing business employing Americans but they've been waiting 18 months to see if they will get their visas renewed.

However, Michael Nicholson got it spot on with his comments to the woman who moaned about "not being understood by Americans", "Americans are stupid" (yes, she did say that !!) and their "food is rubbish". He called her a whingeing Brit and that's what she was !!

Garry

Interesting how some people "bought" last year hoping to make money on their investment. I'm not interested in buying but am interested in the "buying" philosophy. Everywhere I've read over the past 3-4 years has stated that Orlando is saturated, prices have peaked and rental is very difficult now.

With regards to the programme, we don't know the background to the businesses, but I think they said 200,000 Britons have invested in Florida and they interviewed 4 that have had problems - and a couple of those are what I would term "stupid" (eg the whinging woman and those that invested large amounts in property without doing their homework first).

 

[Kevin Stringer]

I thought much of it was sensationalism.

The section on renewing visas was interesting, especially when the lawyer said that these things are often cyclical. Sometimes they renew for 5 years, but at the moment they are much tighter.
I also felt sorry for the guy that got scammed with his visa. $215,000 is a lot of money to wave bye bye to.

As for buying to rent - I've been reading on this board for at least the last 2 years that the rental market is saturated in the Orlando area. There are many other boards dedicated solely to buying in Florida and the perils of doing so.
I would love to purchase a property in Florida, but would only do so if I could afford to buy outright. Any income from rental would have to be viewed as a bonus. Mortgaging to the hilt and then finding that you cannot rent enough weeks to cover your bills must be a disaster.

As for the woman moaning about all things American - why the heck did she move there in the first place? The food is rubbish? Well get yerself down to the supermarket love, they have enough variety for even the fussiest eater.
Calling Americans stupid (which is virtually what she did) is ill mannered and ignorant.

Apart from that, I thought the programme was great!

Kev

 

[florida sun]

Just watched it now, very interesting

 

[castanea1985]

I thought much of it was sensationalism.


I would love to purchase a property in Florida, but would only do so if I could afford to buy outright. Any income from rental would have to be viewed as a bonus. Mortgaging to the hilt and then finding that you cannot rent enough weeks to cover your bills must be a disaster.



Kev

We have looked into this in great detail, and know people (mainly US citizens) who won't buy a property to rent, as it ends up costing them! Its amazing at the monthly outgoings those people were paying! We can find lovely properties where the monthly HOA charges are around $200 per month.
Its not surprising when Realtors want to show you properties where the monthly charges are in excess of $500 per month! Then there is the annual property tax on top... and this can vary a great deal!
This is in addition to mortgage payments (if they have them!).
We are looking at buying a property just for us, family and friends, and will know exactly what costs we are incurring! We aren't looking at it as an investment, its just something for us.. if it makes money long term.. all well and good.
I suppose you can understand, buyers getting carried away, and getting sucked into the Florida Dream. If a realtor is telling them they can cover the mortgage etc...
I was dissapointed that the programme didn't focus more on the property market. Interesting though!
Tracy

 

[carolfoy]

you have the right idea Tracey, if you buy solely as an investment you'd be bound to be disappointed, property prices rising are only down to demand out weighing supply (the fundamental rule in any investment) and in a market like Florida where ever more and more luxurious properties are being put up by the minute the supply far exceeds the demand.

 

[Haworthfamily]

We watched it, hmmmm has put me off a bit, but I enjoyed watching Florida and those lovely villas - come to me ha ha ha