Bargain property to be had in Florida
Bargain property to be had in Florida
Property investors looking for a bargain have been pointed in the direction of Florida. The Daily Mail reports on the property market and incentives being offered to would-be home owners in the Sunshine State.
Florida properties are currently selling for around half the market price of two or three years ago and potential buyers can even take their place on special foreclosure bus tours, organised by estate agents.
As a result of the current state of the property market, auctions of unsold and repossessed properties are being held with no reserve price, which in turn has led to bargain prices; properties once on the market for £108,500 were reportedly recently sold for £67,100.
One real estate company is tempting buyers by offering holidays worth almost £4,000 in order to travel out and view one of its developments, as well as extras such as furniture vouchers for investors.
Nevertheless, some experts recommend waiting a little longer before taking the plunge: "Maybe it's worth hanging on. I think the pound is as high as it will get, but there's a little way to go before property prices are at their lowest," said Florida-based property consultant Jim Sullivan.
For those that do want to invest now, "the choice seems infinite", the paper states, listing several gated communities that might appeal to potential buyers. One such development is Grenelefe, just 30 minutes from
Disney World, which is soon to receive a £180 million face-lift. Studios will be available from £40,000.
Experts are also hoping to allay fears of a floundering economy in the state, pointing out that Florida attracts 52 million visitors per year and unemployment is lower than the rest of the country.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 holiday home website.
23 May 2008
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