The American Sunshine State of Florida has always been one of the favourite destinations for travellers around the world. The alluring tropical weather, pristine beaches, and inviting landmarks in the State are too good to resist for the locals and the visitors alike. The relaxing lifestyle of Florida’s coastal culture adds to the charm of a retired life the Brits yearn for during their entire youthful life. Due to diverse hotspots, Florida is not just popular with the retired brigade, but also with the kids and youth alike.

What Makes Florida a Hot Investment Destination? Florida could be termed as the southernmost State of the United States of America. Surrounded by Sea and Ocean, Florida is every bit a coastal State that has natural richness of beauty and some scenic glory. Florida beckons with hundreds of pristine sandy beaches lined with towering palm trees and affording the best environs to relax your woes away. With year-round tropical sun warming the Floridan air, the weather in Florida presents the best of America to the world, and is a major reason for property investment in Florida.

It’s not only the weather that gravitates people from all over the world towards Florida, but the overall living standards enhanced by the recreational facilities in the State and its vicinity that are the USP of Florida. The State is home to the world famous Disneyland or Walt Disney Resort in Orlando – a favourite among children and adults alike. Besides, you get to enjoy a plethora of activities in Florida, like golfing, fishing, dining and theatre etc.

Florida is the fourth most populous State of the USA and home to nearly 16 million residents. The ever-increasing popularity of Florida as a dream destination for first and second homes is further contributing to the riches of this giant peninsular State.

Florida is not a single-community State. Thanks to its all-round beauty and better standards of living, the State attracts people from all around the world and this makes Florida a truly multicultural paradise on Earth. Further, Florida boasts of different kinds of lifestyles in different regions. For instance, the coastal lifestyle may not be the same as that of Central Florida. The Gulf Coast towns and cities are known for being more relaxed, while the East Coast of Florida is a little more fast-paced.

Florida is flocked by tourists all the year round, which makes the demand for property – both rental and disposable – in constant demand. You can easily earn regular rental income or just stay during holidays or permanently make Florida your next permanent destination.

Florida is very well connected both within and outside the country with regular flights to and from the State. With an elaborate road and rail network to support the airways, you can look forward to easy accessibility to the Florida state.

The availability of different kinds of properties to suit every kind of taste and preference is another important factor that works in favour of Florida real estate investment.

Though the legal process governing the real estate transactions in Florida is a little tedious and cumbersome, every effort is worth the time and energies spent, as you’d hardly find a place under the Sun that is so perfect in terms of living standards. Moreover, if you are prepared to hire an attorney for all the documentary spadework and other tax hassles related to owning a property in Florida, chances are that you won’t be troubled by all the legal formalities.

Hottest Investment Destinations in Florida You can easily find different properties for sale all around Florida. However, there are certain regions and cities that are more preferred by investors for obvious reasons.

For those seeking out a flurry of tourism-related activities around, the town of Kissimmee offers the best bet. Situated in Osceola County, Kissimmee’s close proximity to the Disney World makes it a real estate magnet in the region. Property in Kissimmee has a rich heritage and an enviable landscape with close proximity to some of the world’s premier holiday attractions. The town is within eighteen miles of Orlando and is ideally located to go further west and explore the golden beaches of Clearwater or the Space Coast to the east.

Miami is every bit a modern city with a vibrant lifestyle, world-class hotels and restaurants, some fabulous beaches and a buzzing nightlife. If you want the real thrill of Miami, don’t forget to invest in the beachfront property here, which range from villas to apartments to nice residential homes.

Tampa and Orlando are other big cities in Florida that are always in the pink for the real estate investors. The cities offer choicest options for some great rental income from apartments, villas, luxury, and holiday homes. Orlando’s world famous theme parks have a unique charm of their own that is so very irresistible for the adventurous Brits.

In all, Florida is a combination of everything you want irrespective of the kind of lifestyle you are looking for. From relaxed to adventurous to youthful to exuberant to childish, you can enjoy almost every activity under the Sun.

To secure yourself a Florida property for £80,000, you’ll need a cool head and the patience of a saint. Many Florida property agents are currently displaying surprisingly attractive properties at super-low prices that positively scream value for money to those of us getting excited about the two-for-one exchange rate.

Unfortunately, there are a couple of drawbacks. Firstly, in many cases, the agents in question have absolutely no intention of selling you a Florida property for as little as £80,000; they merely wish to introduce themselves to you before heading you in the direction of more lucrative Florida property options. The second is that the two-for-one exchange rate is currently slipping away; at the time of writing, the greenback is back with a vengeance, trading at around 1.83 against sterling. There’s still a long way to go before the dollar gets back to pre-credit-crunch levels, but it’s definitely heading in the wrong direction for buyers.

But just look at what comes with a Florida property: the delights of year-round sunshine; vast expanses of beautiful coastline; the world’s greatest theme and leisure parks (Walt Disney World, Universal Studios, SeaWorld, Discovery Cove, and Epcot, to name but a few). And we haven’t even started on the golf courses.

But is the tide for Florida property now turning? Have Florida property prices now fallen low enough for us to consider taking the plunge? That’s difficult to gauge in a market that’s going through such unusually dramatic turmoil. The trouble is, while the bottom has famously fallen out of the market, the top remains in denial, pedalling furiously in mid-air like Wile E. Coyote. Whether or not the coyote will miraculously run right across the chasm this time and continue on its merry way, only time will tell, but Florida property at a less rarefied level has certainly taken a huge nosedive. Lee Weaver of The British Homes Group, which specialises in providing a one-stop shop service for Brits searching for Florida property, says:  “In all our 30 years helping UK buyers find Florida property, the market has never been so full of bargains. For example, Countrywide Financial Corporation, the US’s number one home lender, is currently marketing over 1,600 Florida homes with some houses listed at 40 per cent less than their market value two years ago.”

With this in mind, Homes Overseas has done some sleuthing and come up with Florida property on the market for less than the price of a new Jaguar.

Property in Orlando is far and away the most popular with British buyers, lured by its unbeatable combination of family fun, top-quality golf courses and historically reliable rental returns. It is, in fact, the world’s biggest tourist destination, with more than 50 million visitors a year; yet surprisingly has been hit harder than most areas in Florida by the credit crunch. For example, a studio apartment is currently offered by Feltrim at Horizons at the Grenelefe golf resort. This attractive and substantial development boasts three golf courses (one of them Arnold Palmer-designed), as well as a huge water park, a marina, spa, sports and fitness facilities, bars, shops and restaurants. The apartment is newly-refurbished and is now on the market for just $80,000 (£43,500).

In Canary Island Circle, just 14 kilometres from Disney, Feltrim is offering a spacious family home with four bedrooms (yes, four) and two bathrooms, a heated and screened swimming pool and its own garden. The property sits within a gated community that boasts an 18-hole golf course and fishing lakes. This Florida property is currently on the market for just $125,000 (£68,000).

However, before you pack your bags (and your chequebook), it should be remembered that, when the price of a property seems too good to be true, it usually is. Residential appraiser Al Franks sounds this note of caution for overseas buyers: “In some places I see signs of stability, and in other places I don’t. A home may look good on paper, but then you drive by and a lot of the neighbouring homes have grass up to your knees.”

There are also pitfalls for the unsuspecting overseas buyer, such as a two-tier tax system, which is not favourable for non-residents; and the fact that, if you’re seeking a Florida property as a holiday rental, you must ensure it sits within an authorised short-term rental zone.

Golf development property is usually a good bet for those with rental returns and long-term growth on their minds, and another Orlando apartment from Feltrim, at the Southern Dunes Golf and Country Club, could prove a winner with singles and couples, as the development boasts one of the top-ranked courses in Florida. This upmarket development is well located for Disney and Orlando and has lots of on-site facilities and nearby sport and leisure amenities, including a large communal swimming pool and a fishing lake. All that, yet the one-bedroom condominium is on the market for only $115,000 (£62,500).

For those still wondering whether the time is right to jump into the turbulent waters of the Florida property market, it should be said that there are signs of change. Orlando’s residential resale market recorded its second-best sales month of the year in July, and local realtors are saying an improvement in the number of pending contracts bodes well for the rest of 2008.

Prices of property in Kissimmee are a touch higher, but in a very attractive area another large single family home on the market with the British Homes Group – and boasting four bedrooms, a luxury kitchen, swimming pool and large garage – could be yours for just $175,000 (£95,000). On the face of it, this is out of our price range; but let’s not forget that this is a buyer’s market and you should arrive ready to negotiate hard.

For confirmation that the Florida property market is truly being cut down to size, we move south down the coast, to Delray Beach, situated between the seriously upmarket resorts of West Palm Beach and Boca Raton. Here, an attractive two-bedroom apartment with vaulted ceilings is currently on the market, offering numerous facilities on the doorstep, such as a pool, gym, spa, clubhouse and tennis courts. Downtown Delray and the beach are a mere ten minutes’ drive away and the property is on the market for $145,000 (£78,800).

Of course, if you’re looking for something a little more luxurious for your £80,000, you might want to consider vacation ownership (yes, it’s timeshare, but that’s not a dirty word in the States). The high-end Starwood Hotels and Resorts has a Vacation Ownership arm that owns Sheraton Vistana Villages, a luxury resort with some 1,500 one-, two- and three-bedroom villas. The development boasts three pools plus a children’s pool, tennis courts, poolside restaurant, staffed recreation centre, two fitness centres and lavish tropical landscaping throughout, and buyers automatically gain access to Starwood’s international Vacation Network. Annual weeks at Vistana Villages can be purchased from around $10,000 (£5,450).

Those selling Florida property will always say now is the right time to buy. However, there does seem to be a groundswell of opinion pointing in the direction of at least a bottoming out of property prices by the end of the year. One thing’s for sure, if you love Florida and you can afford to throw £80,000 at a Florida property, you’ve just about run out of reasons not to buy.

Picture this: a US citizen working and residing in Florida and a non-US citizen working and residing in a different country, wishes to purchase property together in south Florida…….

1. is this possible?
2. what do you suppose are the requirements/procedures for this?
3. will they be able to get an FHA loan?
4. will they still qualify for the “up to $8000″ first time home buyers tax credit?
5. what documentation will be needed?
6. where/who do you suppose can all these questions be answered? any local bank?

SIDE NOTES:
1. this will be a primary residence
2. US national has poor credit

HELP!

If you’re thinking about buying property in Florida, then this article is for you as it will give you an overview on Florida, USA and the property market.

Florida, the Sunshine State, enjoys warm and pleasant summers, while the winters are mild, with only occasional cold spells. The state has over 1100 miles of beaches and extremely good resorts, spas, restaurants and facilities for snorkeling, surfing and golfing.

There is always plenty to do in Florida as it is home to a number of tourist attractions, such as the Kennedy Space Centre, Disney Animal Kingdom, Busch Gardens, Sea World, and Gatorland. There are a number of festivals and events periodically taking place in Florida, and all in all it makes Florida a fun place to live in.

A major portion of Florida’s population consists of Americans, African-Americans and Hispanics, with English being the most commonly spoken language. Florida is extremely well connected to other parts of the world by air, road and rail, and has a number of reputed universities and colleges.

There are number of different areas within Florida to consider when buying property:

Orlando: Life in Orlando is fun, with several beaches, golf courses and nightspots, and the famous tourist attractions of Sea World and Disney World. Most of the available properties are condominiums and villas, and the prices are rising; according to the Orlando Business Journal, family homes were priced at above $1 million in 2006.

Kissimmee: The city of Kissimmee has rapidly developed in recent years due to tourism, as it is centrally located to Sea World, Walt Disney World Resorts and Universal Studios. Kissimmee is experiencing double digit growth in property sales.

Miami: There is hardly anyone who is not aware of the beauty of the Miami beaches. The population of Miami is cosmopolitan, and is a friendly, warm place for a relaxed peaceful vacation. Its scenic beauty makes it an ideal place for buying property and then using it as a rental home for the never-ending supply of tourists.

Jacksonville: Jacksonville is a beautiful city in the north-east part of Florida, where the majority of the population is young. It is one of the largest cities in Florida and is well equipped with medical and educational facilities. Jacksonville has a comparatively low cost of living, and offers good facilities for sports, eating out, and shopping. The region has a nice combination of urban and rural life, with certain areas being extremely well developed, and other areas retaining their old-world charm. Statistics indicate that the average cost of buying property in Jacksonville was about $211,000 in 2005, which was lower than most Florida cities.

Tampa: The city of Tampa has excellent financial, medical, educational, sports, cultural, and entertainment facilities. In spite of all this, the cost of living is comparatively low, making it an ideal place for property investment. Property prices in Tampa are relatively low compared to other cities in Florida.

As you can see there are a number of excellent destinations to think about when buying property in Florida, and they are just the tip of the iceberg. To help you with your property purchase, agents in Florida would be glad to assist you; however you do need to exercise caution and discretion when appointing a professional agent. As per law in Florida, the transfer of ownership of property is carried out by Title Companies, and not by lawyers, which makes the process less risky and easier when buying property. Florida has a lot to offer everyone, whether they are a holiday maker or a resident of the states, and is an excellent place to buy a property for a second home or an investment property.

I’ve heard that if you buy property, (one owner), in Florida as an out of state resident, then get divorced, the property isn’t considered mutual property… the divorcee can’t touch it. Is that true? My father is getting divorced in MD and is wanting to know if the Florida house can be taken by the court for his soon to be ex-wife.

While all across the nation a housing slump is upon us, one area that is managing to stay relatively unaffected is the Southwest Florida real estate market. In particular, the community of Cape Coral is continuing to see development.

Rated as the fifth fastest growing city in the United States, Cape Coral is welcoming people from all over the country to their seaside paradise. The city is known for its 400 miles of canals that wind their way through the city, which makes it a true water lover’s dream. Nicknamed “Venice of America,” Cape Coral features some of the most affordable waterfront real estate in Lee County.

There are a couple of options for those interested in buying waterfront property in Coral County: freshwater and saltwater access. Homes that face freshwater canals or lakes are generally less expensive than their saltwater counterparts, offering stunning views and a relaxed atmosphere. This option is very popular with freshwater fishermen and wildlife enthusiasts.

If you prefer, you can reside alongside a saltwater canal. This is the best choice for boaters who want easy access to the Gulf of Mexico and other local bodies of water.

Cape Coral has waterfront property for a variety of budgets, from modestly designed freshwater homes to breathtaking luxury estates. The current median price for a waterfront home is approximately $250,000, which is much lower than one would expect to pay in such extraordinary surroundings.

White sand beaches and over 300 days of sunshine make this the ultimate destination for those wanting to relocate to a warmer climate. The average temperature here is a balmy 74 degrees, with winter temperatures dropping slightly to a still pleasant 53 degrees. No winter blues around here!

Recreation opportunities are plentiful, with water sports being at the forefront. Challenging golf courses, nature trails, parks, and bike paths provide dry alternatives to heading out onto the water.

Residents of Southwest Florida are exempt from paying any personal income tax, and there is also no public service tax. This means more money for your pocketbook.

Cape Coral also has the highly desired status of being one of the safest cities in the United States. This feeling of security contributes greatly to the relaxed atmosphere of the area, and is one of the reasons why this Southwest Florida city is so popular with retiring baby boomers.

Safety, recreation, low taxation; these are great reasons to move to Cape Coral. But the best reason to move here is the spectacular scenery. This is truly paradise come to life. Just imagine walking out your back door, only to have a majestic body of water beckon you to come out and play. Lie on the beach, play a round of golf, and be sure to catch a fish or two. Life is good here.

Buying a waterfront home is the dream of many people. Your dream can come true in Cape Coral.

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Kissimmee, Florida short-term rental in Indian Point.Vacation home or investment property close to the gates of Disney World, Sea World, Universal Studios, and other family-friendly attractions. Home buying opportunities have never been better for home buyers looking for a great deal in the Orlando real estate market. Prices are down and with the lowest interest rates in over 50 years, it’s a great time to buy. For a list of the best opportunities just give Teri Isner a call at (407)467-5155 or email us at teri@orlandoavenue.com.

With the credit crunch in full swing is now a good time to buy property in Florida