ITV1 10:00pm 16th March Florida beached

btab

Earning My Ears
Joined
Sep 5, 2001
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68
Thought this might be worth a watch tonight....

Florida Beached: Tonight

10:00pm - 10:30pm

ITV1 London

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.
 
Hi Btab,

Thanks for the reminder... we are definitely watching this, as we are going on a 'house hunting' trip this summer!

:banana: :banana: :banana: :banana: :banana: :banana: :banana:


Tracy

PS. Think this thread should be on community board, though!?
 
Anyone see this? I missed it. But recall a conversation we had with some American friends that the housing market over there was in a bad way. Lots of Brits owning property really struggling. This was back in 2004.
 
We didn't see this programme, but we have heard about it elsewhere and posted a response, which is probably worth repeating our thoughts here:

"The visa issue has become extremely thorny in recent years, and the authorities don't seem too keen to unravel some of the rather arcane requirements and red tape. Having said that, if you get good advice in the first place, the problem of re-issuing visas (and having them rescinded) shouldn't arise. Unfortunately, there are people who have been badly advised and some who have been taken advantage of by unscrupulous companies who claim they can set up business visas at the drop of a hat. The simple truth is you should first consult a specialist immigration attorney (there is one we use all the time in Orlando) and then look at your finances.

As regards buying property, it is actually the ideal time to be looking to buy in Orlando, as it is a classic buyer's market just now, with plenty of stock and a stagnating price situation. If you are looking for a short-term investment, this is NOT the thing to look at. But, for a good long-term bet, Orlando property is still very good value, as long as you don't expect to make a lot of money back in vacation rentals. There is simply too much capacity in some areas, and the UK market isn't enough to fill up all the capacity. This situation WILL change in the next few years as more of the American domestic market discovers the great value and style of staying in a vacation home. At the moment, the vast majority of domestic visitors still use hotels, but the word is out about staying in homes instead, and you can expect this to become more prevalent in future."
 

:) I have to agree with Simon. Will have to watch that prog tonight as well.
 
SimonV - I love your comments regarding vacation home rental. After watching the programme on Friday night I was a tad worried that we were in for trouble (just about to complete the purchase of our townhome in Kissimmee).

I know it won't be easy but some work I will be happy if we can break even with rental income and hang on to the property until the market is on the up again.

Tracey
 
Yes, don't let anyone tell you it is going to be easy, Tracey. We have even seen some companies selling vacation homes on the basis of 'guaranteed' bookings, which simply doesn't hold water (or else they are sold at such a cheap rate you don't even cover your costs).

You can make a decent business venture of it, but you have to put in a lot of work to promote your home, and the short-term picture is still tough for many home-owners.
 
the main reason we bought dvc over a villa,was that we didnt want the hassle of renting out a property to cover costs.Would only buy if i didnt have to rent out
Paulh
 
The other thing to consider from the UK perspective is the potential future cost of flights. Without agreeing or disagreeing with the environmental issues, it is certainly a hot topic now, with carbon offsetting and David Cameron talking about taxing people for taking more than one flight per year.
Who knows what will happen, but there is a possibility that it will get more expensive to take several long-haul flights a year.
 











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