Florida Real Estate
I have been in the central FL area for 20 years. I have been investing for the last 10. I have made bunches of money the last few years in addition ot working a full time job. I am wanting to go full time investing but I am watching the market. I believe the coasts are expperiencing the same "over built" senerio. But keep in mind that the builders have slown down and or stopped all together. True the investors have run to the stock market now and the housing inventory has increased.
The things to remember in FL is this
1) Coastal property is vertually inattainable for the masses. The cost of the property (just a lot could cost you close to 500k-2mil depending on where)
The insurance is outlandish !! And the property values have increased taxes substantially.
2) Any off beach area is a much better bet, if only 2-3 blocks
3) A possibility for living on the beach is a condo, the insurance problem is taken care of. But they are not cheap either
4) unlike other markets throughout the US, Florida still has people coming here in droves. The census bureau projects over 20 million new residents in the next 20 years. FL will be the 3rd most populated state in the nation by 2011. That will mean that housing prices will not be as negociable as you might want to think.
5) the other part that is against most people who come here, is that the wage scale in fl is less than northern states yet the cost of living is equal to if not more. But we will never have state income taxes!
Currently Ocala is on the grow and values are on the rise. i have a coworker who just bouoght a beachfront condo in cocoa beach fro about 280K. it is a real nice place too
Well good luck Yo9u will be one of those 20mill who will be coming here .
I just need to retire so i don't have to drive these road no more!
Bill