Is anybody else watching the Florida property market........?

[PoppyAnna]

If so, do you think it has hit rock bottom yet?

 

[Graeme]

I wasn't, until about a week ago when I realised that this year's summer in England would be about seven weeks long at best. I've got nine years left until I leave my current job with a good pension and wouldn't mind a winter bolt-hole.

 

[paulh]

I wasn't, until about a week ago when I realised that this year's summer in England would be about seven weeks long at best. I've got nine years left until I leave my current job with a good pension and wouldn't mind a winter bolt-hole.

as i work outside in constuction i see the real wether.for most this years its been a good one.quite a few good weeks already,we forget the good days and only rember the bad ones,summer isnt 7 weeks long its 3 months long(july-sept),me i prefer nicer aug/sept as would not get humidity then
Back to OP,no its got a lot to go,have a look on then sentinels wb site they have put a forecloser/sub prime search on it
Then again we have a long way to go as well
Paulh

 

[PoppyAnna]

as i work outside in constuction i see the real wether.for most this years its been a good one.quite a few good weeks already,we forget the good days and only rember the bad ones,summer isnt 7 weeks long its 3 months long(july-sept),me i prefer nicer aug/sept as would not get humidity then
Back to OP,no its got a lot to go,have a look on then sentinels wb site they have put a forecloser/sub prime search on it
Then again we have a long way to go as well
Paulh

Hi Paul,
Thanks.
I agree, d'you know I didn't even think of the Sentinels website - I'll go look and bookmark at once
We have subsribed to a foreclosure website which is great, we've found a couple of properties on there at WH which is our place of choice. I understand that the rental market has dropped a great deal too, luckily we're in a situation whereby we would be happy in the first few years to cover management and maintenance costs and any rental income and house price increase would be a bonus.
Every "buy in florida" company or website seems to vested interest, ie. to sell you a mortgage or get you out there on a trip at the chance you'll over stretch yourself. It's actually quite hard to find correct impartial information and advice.

 

[irongirlof12]

has it hit rock bottom yet? no-one can really predict that with any certainty. sure the market is not showing any signs of improvement soon and any increments will be small and slow. Might start moving up after election.

i'd say,you need to find a good house that you love, in a good location ( very important) and your in for long term investment then and only if you can afford it go ahead.

 

[PoppyAnna]

has it hit rock bottom yet? no-one can really predict that with any certainty. sure the market is not showing any signs of improvement soon and any increments will be small and slow. Might start moving up after election.

The election is one of the factors we are keeping in mind, I'm thinking if Obama gets in the US could really perk up pretty quickly......

i'd say,you need to find a good house that you love, in a good location ( very important) and your in for long term investment then and only if you can afford it go ahead.

If we do go ahead it is for the long haul and we will not be seeing it as a holiday home - primarily, it will be a business. I don't see us going out there every year (I'm hoping it will be booked during school holiday!). As my girls go off to school, a traditional 9-5 job is not something that I or my partner want for me so this is something for me to manage as additional income for the family.
As for location, we are only considering popular, well located, "proper" gated developments with excellent communal facilities, and will NOT consider off-plan villas in the current climate.

I started this thread as I thought others might be watching the market as there has been such a change and obviously there are some bargains to be had.

 

[paulh]

The election is one of the factors we are keeping in mind, I'm thinking if Obama gets in the US could really perk up pretty quickly......

.

Sadly this is a no,the cycle for the houseing market is at least 7 years fom bust to boom tradicanaly.but the slowdown could be worse than that.remeber the states started the sub pime mess and it will take a while to recover,and an election wont change it that much
Paulh

 

[Kymie]

We would like to get a property over there, but its just too much of a risk for us at the mo. Hopefully in a year or two if prices are still good we will go for it, although my long term plan is to find a way to emmigrate

 

[orchid]

I am on an owners site and one of the members is a mortgage advisor and he has said there is a growing amount of investors out there that are buying up properties on the quiet, he said prices will dip a bit more but are starting to show signs of slowing which will be good for those trying to sell. Most realtors will try and sell you a new home as they get such a high comission from the builders plus most will now not come with a furniturte package that is in itself a rip off(we saved $17k by self furnishing) If i was to get a second home i would be looking at the US27 area near the I-4 motorway as there is a lot of shops/restraunts going up like Posner Park mall and another planned near by, and i would look to buy a current rental home that is already furnished.
Places like Windsor Hills are very good and are popular but most are expected to be rented out below running costs. It is hard work to get rentals in but those that spend the time dealing with enquiries will get guests in but those that rely on travel agent bookings will find it hard to survive.
If you do decide to look into the running of a vacation rental then look on sites that owners advertise direct on and contact some and see what there running costs are inc rates home owners fees and managment fees.