FLORIDA - time to dive back in ?

Wahaay

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On my last trip to Florida towards the end of last year I noticed a discernible shift in attitude from a year or two ago when I first invested in the Sunshine State - I felt then that the market was beginning to rebound and all the evidence since then has confirmed this.

Apart from the traditional factors of good weather and good air links there's no state income tax, very reasonable property taxes and a rapidly diminsihing supply of good properties.

I reckon anyone looking to invest should seriously consider Florida once again.

www.tampabay.com/news/growth/popula...ush-florida-past-new-york-experts-say/1269028

www.telegraph.co.uk/property/rentin...op-20-places-to-make-money-from-property.html
 

Palerider

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Florida does offer opportunities but it has a mixed GDP skewed in favour of tourism, I prefer other parts of the States having had opportunities in the wider Orlando area that I passed on with no regrets, my other U.S. investments are working delivering good yields, personal choice of course, you will have Federal taxes and of course taxes here although there is a double taxation agreement.
 

Wahaay

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Banging the drum again for Florida.
Some impressive stats just released on house sales on the Gulf side of the state which I'm sure are being reflected elsewhere.
Okay, so the feel-good factor might disappear when QE comes to an end but given the shakey state of the euro and huge problems with property investment in Spain and Italy I still feel Florida represents a great investment opportunity for those with a few bob to spare.

Tampa Bay's housing market continued to bloom last month amid the best spring selling season in years, but tight supplies of homes for sale are squeezing hopeful buyers out of deals, new Realtors data show.

www.tampabay.com/news/business/realestate/tampa-bay-home-sales-prices-continue-climb/2122418
 

Importer

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This post makes me laugh.

Ive been getting these emails from Florida property agents for about the last eighteen months. Hurry Hurry, stocks are drying up, prices are rising

The reality is far removed from this...............

I love Florida but wouldn't buy property there for all the tea in China.
 

Palerider

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The market in the U.S. housing stock in definitely in recovery and I don't really get why, there must still be thousands of foreclosures and short sales to work through. I personally prefer large City locations, and focus on one in particular, nothing in Florida excites me.

I am working with a number of realtors that have delivered for me in the past, they tell me that almost everything well located and capable of acceptable yields is going to multiple offers, an effective blind auction, I've upped offers on several Condos in the last six months or so going 20% over the asking price in one case and failed to get any of the units I placed offers on.

These are all cash buyers in this market and mortgages continue to be hard to get for U.S. residents with tight acceptance criteria.

Unconnected but I'm hearing the same thing about parts of South Dublin as well, Pat Kenny covered it last week with houses making well over asking and demand evident, I am just saying and not talking up.
 

Wahaay

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I only really know the Tampa area because I own there but it's clear that a large number of cash buyers have been coming in over the past 18 months - 2 years hoovering up the best properties.

There are still foreclosures and short-sales but far fewer than before.

What I'm also seeing is large investment firms coming in with multi-million dollar projects to buy up, fix up and rent out properties on a large scale in some of the good areas.

And the same thing that has always attracted people to Florida - that hot yellow thing in the sky - is still there and still very attractive, particularly for those in the Northern states and definitely for Canadians whose economy has fared much better in the recession.

That and the fact that Florida is one of few states in the US not to impose personal income tax means it's also still attracting large corporations and workers making a lifestyle choice to move there.

On the other hand it is also still full of old people !
 

Wahaay

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This post makes me laugh.

Ive been getting these emails from Florida property agents for about the last eighteen months. Hurry Hurry, stocks are drying up, prices are rising

The reality is far removed from this...............

I love Florida but wouldn't buy property there for all the tea in China.

So do millions of other visitors and people looking to invest.
It's why the market is bouncing back in a big way.
But after 18 months of ignorning the entreaties I'd say you've probably missed all the bargains by now.
Still, if you have the money, I reckon it's worth a punt.Certainly more so than most other places.
 

Wahaay

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I know this one is a bit of a hobby horse of mine but if anyone is thinking of investing in property the Florida market still represents excellent value.
The property I bought at the very bottom of the market in 2012 has now appreciated in value by over 25% yet I still think real estate in general in the States and Florida in particular represents good value.
Obviously the euro/dollar rate is poor but for anyone who got their money out of Ireland at the height of the financial crisis and into another currency it's a good opportunity to get it working for you rather than sitting in a bank doing nothing.

http://realtormag.realtor.org/daily-news/2015/03/20/bidding-wars-return
 

Wahaay

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Its different this time :rolleyes:
Not really.
The one constant that Florida has going for it is the weather - and a continuing market of millions of North Americans and Canadians who want to move south to enjoy it and escape bitter winters.
A four month winter rental to snowbirds takes care of all annual bills leaving 8 months a year of free holidays for the owner living abroad.
And now the US economy is booming again it's time to buckle up and enjoy another boom in house prices.
 

Jim2007

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I know this one is a bit of a hobby horse of mine but if anyone is thinking of investing in property the Florida market still represents excellent value.
The property I bought at the very bottom of the market in 2012 has now appreciated in value by over 25% yet I still think real estate in general in the States and Florida in particular represents good value.
Obviously the euro/dollar rate is poor but for anyone who got their money out of Ireland at the height of the financial crisis and into another currency it's a good opportunity to get it working for you rather than sitting in a bank doing nothing.

http://realtormag.realtor.org/daily-news/2015/03/20/bidding-wars-return

Had you invested your money in European REIT over the past three years you'd have experienced a price gain in excess of 70%, that higher return would have been achieved at a much lower risk level as it was spread over about 600 properties across Western Europe....

As best I can see from my private research material, Florida Real Estate is expected to yield around 4.5% pa while the SP500 is expected to yield 6% - 8% pa, again a higher rate of return at a lower risk.

If you want to benefit from the US property market, you'd do far better to look into something like title insurance.
 

Wahaay

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Had you invested your money in European REIT over the past three years you'd have experienced a price gain in excess of 70%, that higher return would have been achieved at a much lower risk level as it was spread over about 600 properties across Western Europe....

As best I can see from my private research material, Florida Real Estate is expected to yield around 4.5% pa while the SP500 is expected to yield 6% - 8% pa, again a higher rate of return at a lower risk.

If you want to benefit from the US property market, you'd do far better to look into something like title insurance.

But you haven't factored in the fun of owning a Florida property and the ability to hop on a plane and laze in the sun by your own pool.
Beats a Bulgarian off-plan any time.
 

postman pat

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Foreign property is comimg back!!!,,,,,then the sunday property shows....its de ja vu all over again,I think i will just make a nice cup of tea.:eek:
 

Jim2007

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But you haven't factored in the fun of owning a Florida property and the ability to hop on a plane and laze in the sun by your own pool.
Beats a Bulgarian off-plan any time.

So now it is not an investment after all.... it's a holiday home now is it?
 

Wahaay

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So now it is not an investment after all.... it's a holiday home now is it?


The two are not incompatible.
Especially in a part of the website entitled Overseas Property Investment.
The point I'm making is that all property booms are cyclical and it feels to me like Florida is rebounding pretty solidly with good prospects for current investment in the right areas.
 

Wahaay

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We finally sold our US property towards the end of last year at around 60% profit over 10 years or so.
Happy memories of sun-filled days by the pool and many trips over the years to our favourite Gulf Coast.
We started thinking seriously about selling when a big hurricane took a huge left turn about 40 miles short of the property and then age and grandkids restricted our visits.
Done right and with proper due diligence and location,location,location it can be a great adventure.
But avoid Orlando at all costs ...
 
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Thirsty

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Are you saying you sold the property for 60% more than you paid for it 10 years ago?
 
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