June 2011

Florida’s housing market attracts international/U.S. buyers

Florida has the eye of international buyers, according to the Florida Realtors® organization. In 2010, international buyers spent $41 million on home purchases in the U.S., but cities in Florida top the list.

It seems the entire state is popular. Trulia gives the following cities as Florida’s top 10 (listed in alphabetically order) for international buyers:

Cape Coral • Ft. Lauderdale • Ft. Myers • Jacksonville • Kissimmee • Miami • Miami Beach • Naples • Orlando • Tampa-St. Petersburg

We understand why real estate is popular with international visitors—the rental market is hot and anyone with excess cash is looking to buy while the prices are so attractive. Then they rent out their investment until they are ready to use it.

Personally, I’ve also found increased interest in the rental market from U.S. buyers as well. With three of the top 15 most visited U.S. destinations within an hour’s drive of the Tampa-St. Petersburg area, it’s no wonder that visitors want a vacation home close to the beach and those destinations of Disney World, Universal Studios and Sea World.

The beaches along our west coast from Clearwater to the north and Ft. DeSoto to the south are long and filled with white soft sand. The waters are calm with gentle waves unlike Florida’s east coast where the rough Atlantic Ocean is not so friendly. Having a vacation home in our area is having the best of Florida’s destinations along with its best beaches.

According to CNN Money, home prices are at mid-2002 levels. Today’s smart buyers realize with home prices that low, it’s time to invest in that vacation or retirement property.