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Florida is a wonderful place to live. The state has abundant sunshine, great recreation and entertainment as well as superior infrastructure. The Florida lifestyle with its unique mix of superb golf courses, beaches, theme parks, theatres, smart shops and fine restaurants draws people from all over the US and abroad. Florida is also home to Disney World and Universal Studios, both of which make it a popular tourist destination.

As the demand for homes in Florida grew, housing construction intensified and a variety of quality homes came up across the state. Property prices shot up between 2000 and 2005, bolstered by demand from individuals and investors as well as the easy availability of credit. As prices touched historic highs, many found themselves priced out of the market. However, the price surge didn’t last long and houses across the state are more affordable today.

This could be the right time to find your place in the sun. Property prices are well below their peak values in 2005. In 2009, some premium properties were quoting at 50% of their 2005 values. In some parts of the state such as Sarasota, houses are available for as little as $47 per square foot. NBC featured Sarasota, which is less crowded than many other cities in the state, as one of the best places to live in the US with its theatres, beaches, fine dining and some great shopping. In Orlando, it’s possible to find high quality new builds at around $140 per square foot.

Few property markets in the US have fallen as hard as Florida. According to economists, home values will continue to decline in 2011 but not as sharply as in the past. Florida’s property boom came to an abrupt end in 2008 as the recession took hold, bringing unemployment, a severe credit squeeze and a spate of foreclosures in its wake. As demand dried up, real estate inventories piled up across the state. With new developments remaining unsold, construction almost came to a halt in 2009, creating a buyer’s market.

Excess supply continues to drive prices down. There are plenty of unsold properties, especially condominiums in south Florida. For the greater part of 2010, the median price of condominiums remained below $100,000 in Broward and Palm Beach. Prices might look up in 2011 because investors concluded a few bulk deals towards the end of 2010.

In Miami, the condominium market has been hit particularly badly and will take longer to recover because finance is difficult to come by. Cash buyers might find some good bargains under the circumstances. Real estate analysts expect central Florida, a popular tourist destination because of Disney World and Universal Studios, to recover earlier than most other locations in Florida.

Going into 2011, prices are continuing their downward trend but most analysts are not expecting the steep double-digit declines of 2009 and 2010. The general forecast is that taxable values will fall by around 1.45% on a state wide average in 2011, which is definitely encouraging considering those values fell by 11.09% in 2010.

Though sales volumes began to climb in 2009 and the gloom has lifted somewhat, industry experts are generally not expecting a robust recovery any time soon. Researchers at the Bergstrom Center for Real Estate Studies, University of Florida, found that the near-term outlook continues to be uncertain due to job losses, foreclosures and the lack of credit. However, the center director pointed to a revival of investor interest in some markets as expectations become more realistic and the gap between bids and asking prices narrows.

For those who have long wanted a vacation home in Florida, 2011 is likely a good time to shop around for well-built houses, which are nowhere near as expensive as they were in the past. With more than a few bargains to be found in south, central and north-west Florida, interesting opportunities exist for both international and domestic buyers. The good thing is that there are a number of premium properties built to word-class specifications available at more realistic prices now.

Currently, Florida Real Estate offers better value for money than many places in Europe. Properties are spacious and modern and within easy reach of excellent recreation and entertainment spots. According to analysts, those who invest in 2011 are likely to see reasonably good returns on their investment five years or more from now.

Tony Osust, director: Holprop.com Search through our large international portfolio of properties for sale and rent. Holprop.com now showcases thousands of rental and sale properties, from single family homes, commercial and recreational properties including hotels, bars-restaurants, new build or off-plan developments for sale worldwide.

See our latest Florida Property for Sale | Florida Vacation Rentals

Some consider this current situation very similar to the 1960s and they have plenty of reasons to do so. Back then you could finance a two-bedroom house for $6,999. 10 years later, a typical Florida house was approximately $15,000. Through inflation alone, that home would have cost about $32,000 by 1980. But, in fact, a typical Florida home sold for about $45,000 by 1980. It was much the same story during the 1990s. If home prices followed inflation, your typical house would have cost $66,500 at the end of the decade. But in 2000, Florida homes were valued at $105,500. The decade produced home appreciation 59 percent above inflation. Moving on to the present, a 3 bedroom/2 bathroom house in Lehigh Acres is just $31,000. If you wanted to purchase the same house a few years ago, it would probably have had a price of more than $50,000.

Although this is terrible news for sellers, we cannot hide the fact that this is great piece of information for potential buyers. Speaking of, the number of people that want to buy a house in Lehigh Acres and in all Florida is very generous. There are logical reasons for this situation as the Sunshine State offers great weather through the entire year, nice beaches, friendly neighborhood and many more. As far as the entire state is concerned, home prices have fallen about 20 percent in the past year and this trend will continue in 2011.

Speaking of the 1960s, the actual mortgage rates are easily comparable to those times which mean that the potential home buyer has a much stronger financial power. Even the smallest percentage can make a crucial difference. For example, a $100,000 home in Florida, a half of 1% could save the home owner almost $500 per year; it is not much it’s something. Buyers can get more home for the money, which is a perfect scenario for families looking to upsize.

Sale numbers are quite high, despite the current lockdown in the national real estate situation, which means that the inventory levels are dropping slowly, but surely. Real estate experts affirm that now it is the ideal time to purchase a home because prices will most likely start to rise again in the years to come, even though they will not reach the 2005-2006 prices which were overinflated anyway. This recommendation is for families that are looking to buy a new home; for people thinking of retiring and of course, for investors that have a few money saved for such special occasions – an opportunity to make a fortune in the years to come when prices will go up again.

Florida has a lot to offer to its inhabitants – it has a very strong economy, especially in healthcare and technology sectors. From a more social point of view, it is a great place for kids being a very peaceful neighborhood and offers very good schools. We will let you discover other benefits of living here after you purchase your very own home in the Sunshine State.

Article written by Adrian Padeanu. Purchase Lehigh Acres real estate at affordable prices by visiting our online real estate guide at www.floridalehighacres.com.

The real estate market has not been very nice to us over the past 3 years or so and we are all anxious to see the light at the end of the tunnel. With that in mind, and 2011 in front of us, where is the real estate market headed in 2011? Before I take my humble stab at answering this question I need to remind you I am not an economist nor do I have a PhD behind my name, in fact I have nothing behind my name. All I can offer is a whole lot of experience “in the trenches”….as a broker, investor, developer….

Real Estate is Local…

Before I begin to discuss the prospects for this year I need to remind everyone that real estate is a very LOCAL commodity. Unlike other commodities such as gold, silver, crude oil and soybeans, in which prices are pretty consistent throughout the U.S. at any given point in time, there is, and never will be, a consistent “national” price for real estate. The exact same house may sell for $900,000 in San Francisco may be only $250,000 in Detroit…Therefore all we can really talk about are generalities….what is going to happen overall, realizing there will be areas across the country that perform much better and some that perform much worse than the “norm”.

Foreclosures continue at near-record numbers…

We have seen a record number of foreclosures over the past couple of years and I’m afraid this year will not bring much change. There are many foreclosures “in the pipeline”. During the latter part of 2010 foreclosures came to a halt in many cases after allegations that there were “irregularities” in the foreclosure process by law firms and others handling foreclosures for several large lenders. This, along with the number of people that are “underwater”, meaning they owe more on their homes than they are worth, I believe is going to keep the foreclosures coming in 2011 at near-record, and at a minimum historically elevated, levels.

Recently some encouraging news has come out with regard to mortgage defaults, but I think that is just a temporary lull…I don’t see unemployment getting better, nor the economy in general, not to mention home prices are not rebounding, in fact they have continued to decrease. What I do see are people giving up…people can only hang on and survive in a bad situation so long before they decide to, as an old buddy of mine in the biz used to say, “cut bait” and move on. Therefore, as more and more people decide to “cut bait”, the foreclosures will increase. If home prices take another dip more people will find themselves underwater, compounding the problem.

Housing inventory better and worse…

The number of existing homes for sale has decreased for the three most recent reported months (September-November) to an inventory of 3.7 million homes for sale however this is still 5.4 percent more homes for sale than a year prior. Worse yet, because the rate of home sales has declined at the same time, this represents a 46.2 percent increase in the months supply of existing homes for sale.

New home inventory has decreased for the nine most recent report months (March-November) to an inventory of 197,000 homes which is a 16.5 percent decrease from a year ago. In terms of months supply, new homes are fairing better with a relatively modest 6.5 percent increase from a year ago. New home inventories are definitely the star of the show and, due to the greatly reduced pool of home-builders, not to mention the obscurity of financing for them, I don’t see this changing anytime soon.

I expect the inventory of homes for sale to increase in 2011 as a result of three things: First, from foreclosures and REO’s. Second, from sellers that, as a last-ditch effort before walking away from their homes, put their homes on the market to see if they can get them sold, and third, as a result of banks “pulling the trigger” on borrowers that they have been keeping on life support the last couple of years but now admit to themselves that the market is not going to come back in time to save them.

New home starts stagger and swagger…

While many in the media keep pointing to the decrease in new home starts and calling it a negative, I think they are wrong….at least from an inventory and demand standpoint. What’s the point in adding more inventory to the market when we can’t sell what we have already? Not to mention, most the new homes sales I’m aware of are at prices that are less than the cost of the home…this is not a sustainable business model. So, while I think it is bad in the short-term for the economy not to be building more homes, I think it is better for the housing market and home prices.

Having said that, I think we are going to see some local markets that do much better in this regard. Metros that are able to create new jobs will spark new home activity as will other areas that have a strong draw for people to want to live there whether it be no state income tax, low cost of living, quality of life, etc…

Home prices…the worst is over….

I think if we are lucky home prices will stay flat in 2011 although realistically the median prices in the U.S. will probably decrease somewhat as a result of the downward pressure caused by foreclosures (Radarlogic recently reported that distressed home sale prices were 38 percent below “other” home sale prices).

Advice to would-be home buyers or sellers…

Buyers- If you are fortunate enough to be employed, feel secure in your employment and have adequate resources to buy a home then I say BUY! In my opinion it doesn’t get much better than this! There is an abundance of homes to choose from, super low interest rates and it is definitely a buyers market! Sure, prices may fall slightly further before a recovery begins, but, assuming you are not buying a home planning on “flipping” it a week later, what’s it matter? You bought yourself a great home, at a great price, enjoy it! Prices may dip in the short term but prices will recover at some point in the future. In the meantime, you are enjoying your home, raising your family, etc.

Sellers- Homes are selling…unfortunately one-third of them are distressed sales…If your sale is going to be a “distress” sale, such as a short sale, then first, and foremost, find a professional real estate agent that knows what they are doing. This is not a time to try to suck up to your sister or brother-in-law, the neighbor next door, or anyone else that is “in” the real estate business just because they are a relative or a friend. Your life is on the line…your financial life that is and time is probably not your friend. Now is the time to find an experienced, seasoned professional….one with a thorough understanding of, and experience with short sales and other distressed sales so that they can guide you through this difficult, and at times, seemingly impossible, process.

If you are a seller that is not underwater then I would ask “why do you want to sell now?” In other words, why would you want to jump into shark-infested waters? If your reason for selling is to take advantage of the current market and move-up on the cheap, then booya to you! Go for it! This makes is a good move! Even though you may have take it hit on your current home, assuming you are moving up, you still come out ahead. For example, lets say your house should be work $240,000 in a “normal” market but to sell it you are going to need to sell it for 10 percent less than the normal value, you will take a $24,000 hit. But, if you are buying what would be a $500,000 house and that seller needs to take a 10% hit as well, which works out to $50,000, you are $26,000 ahead in the long-run.

Investors….Cash is king!

A few short years ago banks were literally throwing money at real estate investors, whether or not they were experienced or even credit-worthy for that matter and many “investors” were buying property using the “greater fool theory” meaning that it is foolish for me to pay this much but I’m confident someone more foolish than me will pay even more. Wow, what a recipe for disaster this was….however, as they say, hindsight is 20/20. (I guess I should add, I would be lying if I said I didn’t get caught up in this to some extent myself…)

Today is much different and banks are not only not throwing money at investors, when it comes to investors they are basically only making, using a term coined by a friend of mine, “courtesy loans”….loans to people that basically don’t need loans. This is probably the biggest hurdle for investors to get over and, while I see some improvement in this area in 2011, I think banks have learned their lesson and are going to continue acting like bankers and not speculators for some time.

For investors fortunate enough to have cash to invest, or financing in place, opportunity abounds! There are some great opportunities out there, particularly for the long-term investor looking to buy now in a down market, lease the property for a few years, then sell when times are better. This is a model that I like and I think holds some great reward for those that apply it properly. Again, a word of caution however, be cautious and conservative….don’t fall into the trap of thinking (or being sold on the idea that) just because you are able to buy something for 50 percent of what it sold for five years ago that you are getting a great deal. As many of us have learned, today’s value has NOTHING to do with what something sold for before….Look at today and what the property will do for you now. This is another area where working with a professional in the business that understand the investment side of things can be an immense help to you.

So there you have it….If by chance I’m right with my predictions then, overall 2011 is probably going to work out better than 2010…if I’m wrong lets hope that I’m being too conservative and 2011 is going to be much better rather me being wrong the other direction.

Find the real estate professional you want…

If you are looking for someone you can trust will have the knowledge and experience necessary to help you buy or sell in this market you can take advantage of our referral service by clicking here. Myself and my business partner have relationships with great agents and brokers throughout the U.S. and will be happy to give you our recommendation.

Dennis Norman has 30 years experience in the Real Estate Industry as an investor and developer. In addition Dennis has also been very active on the political front, particularly when it comes to issues that affect property rights and property ownership.

A passion has always been writing and sharing the knowledge gained through his years of experience with others that they might garner some benefit from the experience or lessons learned along the way.

Dennis is a regular contributor to http://www.RealEstateInvestorDaily.Com, the best source of news and useful information for real estate investors.

Tampa, a city in the southeastern part of Florida, is part of the urban municipal commonly called the ‘Tampa Bay Area’.

Real Estate in Tampa

Tampa is ranked as the largest seaport in the U.S.A. and consists of four counties namely Pasco, Pinellas, Hillsborough and Hernando County. All types of housing units can be found in Tampa. The cost of homes ranges from $100,000 to $2million depending on the type of home. Research indicates that the cost of living and of property in Tampa was relatively low but increased in the recent past. It is also generally felt that properties outside of the city are less costly, especially areas between Tampa and Sarasota. Further research shows that in 2003, approximately 10,000 houses were sold. This number increased toward the 2nd quarter of 2005 to roughly 20,000 homes. The upward trend ceased in 2006 and has been dropping steadily. In the early quarter of 2008, sales are approximately 4,000 to date.

Why You Should Buy Real Estate in Tampa

The many real estate agents found in Tampa make it easy for a buyer or tenant to find the perfect property or house that they need. There are many property management plans that are available and are also affordable. The agents will even appraise property for free to their clients; whether buying or selling, permanent or leasing. Tampa is a seaport and as such, many holidaymakers are expected to visit this fabulous city. For the person investing in rental property, tenants will always be bountiful. Investments include sale of residential property, vacant land property, commercial property or income property. Being a seaport, there is a wide variety of home-types to choose from. One can choose a waterfront property, a town house or condominium. The weather in Tampa is humid and subtropical. Highest records are 65oF to 95oF all year round. In the once-in-a-year winters, the lowest temperatures to be recorded have been 18oF. The temperature makes it worth investing in real estate. With a growth rate of 4.8% for jobs, seasonal or permanent income is easy to come by. The city is actually ranked the 12th on the list of best areas to work and live in America.

When purchasing property in Tampa, Florida, one would be buying into historic folklore and cultural diversity. Needless to say in a few years, the investment will have doubled in value and the investment would be well worth it.

Julia Vakulenko is a licensed broker associate with Tampa4U.com Realty. She has one of the hardest working Tampa Real Estate team in Florida.

Construction of condos is now a major episode in Florida’s Tampa Bay area. Condos that offer spectacular view of the Gulf are the most enticing developments. Seeing an influx of people en masse, camping out in Tampa Bay on the lookout for acquiring new condo units, one would realize that the mass appeal of Tampa Bay is really not about the Super Bowl. Most investors of the Tampa Bay condo market purchase units at pre-construction prices and then sell them at profits of as much as 25%, even before these condos are ever built. Many people say they would rather invest in condos than place their money in higher risk involvements, such as the stock market.

While a considerable number of investors have switched from stock to real estate as investments, because of projected higher returns as well as relatively greater investment security, other people buy condos as second homes with future plans to retire in beautiful, sunny Florida. Unsurprisingly, many small family-owned hotels are being snatched up by real estate developers to construct new condo communities.

Purchase popularity in the Tampa Bay condo market is seen by many as being fueled by low interest rates. The purchases, however, include buying with a mortgage, as well as with cash for condo units priced significantly higher $500,000. Prices, currently ranging from $300,000 to quite a bit more than $1 million, continue to escalate and will continue to do so as long as high demand flourishes.

In 2005, condo conversions dominated Tampa Bay condo market as 40 communities, equivalent to 14,231 apartment units, were purchased by real estate developers for conversion to condos. This figure reported for 2005 tops the corresponding figure for 2004 by as much as four-fold. However, in 2006 Tampa is witnessing a declining interest from conversion buyers after high conversion activity over the last three years.

The condo conversion craze significantly shrank the supply of apartments. The law of supply and demand triggers into action as seen in the current performance of the apartment market being experienced this year. Apartment deliveries, however, remain low, and this is because of a shortage of developable land as well as increasing construction costs. These two major factors are noteworthy in making it difficult for developers to enter the Tampa condo market. As the delivery of new rental units in Tampa continues to decline, strong rent growth at existing properties are expected to persist.

In the first quarter of 2006, Tampa’s average rent reached $819, increasing an average 5.5% over the corresponding period in 2005. Certain properties and submarkets reported boosts within the 10-20% percent increase range. Rents range from about $700 to over $1,000 per month, depending on the location. Prevailing averages are now between $805 and $834. Occupancy rates reached 98.1% in the first quarter 2006. This trailed the steady growth in occupancies since early 2003, and makes Tampa Bay one of the Florida’s most highly occupied rental markets.

The Tampa rental market showed minimal signs of new development over the past year. With developable land becoming scarce, developers moved north along the I-75 corridor into Pasco County which added approximately 1,460 rental units, showing one of the strongest increases in apartment supply throughout the state. Pasco’s growth, while significant, was still not enough to offset the more than 14,000 units purchased for conversion here in 2005.