Saturday, June 7, 2008

Why buy in Florida?

Look on the bright side
January 31, 2008 by Nancy Batchelor
Sure, everywhere you look these days, someone is reminding us of the problems with the real estate market.  Not enough qualified buyers, too much housing inventory, home prices are overvalued and the list goes on.  While many of these things are happening and while Miami-Dade County is ranking among the most overvalued markets in the country, there is a reason why those selling a condominium in Miami-Dade County should not pay too much attention to the hype.  I have just read an article in RisMedia entitled, “10 Reasons the South Florida Condominium Market is Hot” which helps to put things in better perspective.This article helps to understand what it is about south Florida that makes it an irresistible place to buy a condominium.
• 1) The weather. Half of the country is freezing cold right now while south Florida residents can languish on beautiful sand beaches.
• 2) Water, water everywhere. Many condos in Miami-Dade County offer spectacular views of the water, be they of the Atlantic ocean or of the yachts and mansions on the Intracoastal waterway
• 3) Stimulates family and friends into visiting you more often. You will become a very popular family member or friend to visit around vacation time.
• 4) Great value. Oceanfront and waterfront properties are highly sought after and rarely decrease in value.
• 5) Beaches all year ‘round. While half of the country is under snow and suffering harsh colds, south Florida residents are enjoying the beach.
• 6) Great for entertaining. Miami-Dade condominiums offer a stunning backdrop for entertaining family, friends or colleagues.
• 7) Low stress. Living by the beach gives you the opportunity to take afternoon walks after a hard day at work or just relax and watch the sunset.
•  Catch up on your reading. There is something to be said about sitting down at the water’s edge and reading a good book.
• 9) It always feels like vacation in south Florida. With palm trees, beaches, ocean and sun all around it feels like vacation time all the time.
• 10) Dining, entertainment and shopping. Not far from any of the wonderful beaches in Miami-Dade County, you will find excellent restaurants serving fare from the world over, art galleries, art boutiques and other cultural venues.
• 11) University of Miami Hospital offering world class medical care in South Florida
• 12) Miami International Airport
• 13) South Florida’s Exchange Rate
If you own, or are thinking of buying a Miami-Dade County condominium, I recommend that you read this article. 

Miami Florida

Miami Florida Real Estate by Arthur Velunza: 
Miami Florida, nicknamed "The Magic City", is one of the youngest and hippest cities in the US. Although young, Miami Fl has become one the biggest tourist destinations in the country. With its cultural diversity, incredible attractions, recreation, and year round events excitement, Miami makes South Florida an incredible life changing experience and memory.  Miami Beach Fl is a fast growing, fashionable and exciting international hot-spot. Film and music stars, art-deco museums, and shopping districts referred to as the "5th Avenue of the South" showcase the decadence and new-world architecture that lures thousands of visitors a year.  Miami Beach Fl nightlife concludes an unforgettable vacation day with a diverse array of ethnic food and American cuisine, topped off with jazz cafes and hopping dance clubs.

Buyers from South America to India are choosing Florida

OML: Out-of-state and international buyers are descending on the area in search of deep discounts as prices continue to crater. They want to get in now and wait out the housing slump because they think the region remains a powerful long-term draw writes  Paul Owers of South Florida's Sun-Sentinal
Flush with cash, buyers from Italy, Germany, England, Spain and other countries are scooping up condos here for at least 30 percent less than the cost of properties in their homelands.

Susan Gomez of Colombia visited South Florida last week and had a real estate agent show her condos in Fort Lauderdale and Miami. The owner of a language translation business said she hopes to buy in a month or so.

"The gossip in South America is that properties in the U.S. are selling for low prices and the market is good here," said Gomez, 50. "They're saying that people who want to buy should buy now."

Amit Bagaria, a real estate executive from Bangalore, India, spent two days this month scouting for deals on behalf of wealthy Asian families. He's eyeing new buildings in Fort Lauderdale and Miami with condos priced from $400,000 to $1.5 million.

"We hear that if you're interested in four or five units, builders are willing to negotiate," Bagaria said. "Good deals are not difficult to find in the market right now."

The rock-bottom prices also are luring buyers from within the United States, particularly the Northeast.

Market Outlook for remainder of 08'

Olga M Lameran:  In the latest National Association of Realtors® (NAR) housing outlook, Chief Economist Lawrence Yun predicts that home sales and prices throughout most of the nation will improve in the second half of the year, especially if access to mortgages backed by the Federal Housing Administration, Fannie Mae or Freddie Mac increases. “There are many reasons for people to get into the housing market today, and very few reasons not to,” Yun says. “With the plentiful supply of homes for sale at affordable prices, interest rates approaching 40-year lows, and the strong track record of housing as a good long-term investment, conditions are ripe for buyers.”