| Florida's on the move! |
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With its country club lifestyle and balmy climate, the Sunshine State of Florida has always been popular with British buyers. Credit crunch conditions though, had prices crashing down and Florida had the second highest foreclosure rate in America in 2008. However, in recent months, things have started to pick up. Although prices remain low, properties are beginning to move again as people are making the most of the bargains on offer. For UK buyers there is also the exchange rate to be considered. Although the pound has for some time now been at a low against the dollar, some analysts expect further falls which would add to the attraction of buying now. But where should you go? Florida’s two coasts have different attractions. The subtropical west coast is centred on elegant tree-lined Tampa and classy Sarasota with its orchestra and concert programmes. The east coast is defined by bustling Miami with its cruise liner port and fabulous night life – and luxurious Palm Beach. Inland of course, is Orlando, with easy access to both coasts and Walt Disney World on the doorstep. If you want to rent your villa out to help with the costs, this is a great place to buy. If you love the thought of warm seas, head west where you’ll find everything from super-smart condo units to estates with colonial style houses set amongst palm trees and landscaped grounds. Realtors in Sarasota state that prices from Tampa down to Southern Sarasota County appear to have stabilised meaning good deals for buyers whatever the price range. At the bottom end of the market you can find a lock-up-and-leave flat within a stone’s throw of the beach for less than £130,000. Realtors believe the mid market is the safest option. A detached three to four bedroom waterfront home with pool starts at £390,000. Single family homes are always a better investment than condominiums – more people want them so they will always have a higher resale value. If it’s a wilder social life you want, Miami is the place for you with its beaches, bars and nightlife. South Beach in particular has a trendy retro feel about it. Here, oceanfront property is the safer investment – whilst prices have come down 30% - 50% from their peak, they are starting to stabilise. If it’s the Orlando area you fancy, it’s worth considering a gated community for a property you can lock up and leave. £100,000 here could buy you a three to four bedroom, two bathroom home with private pool. And all within easy reach of Disney!
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