Overview

Florida is the country’s most popular winter vacation spot, well-known for its most famous host, Mickey Mouse, spring-break parties, and great beaches. But if you’re looking for more than a party and a tan, Florida is trendy and culturally diverse with attractions for every passion.

Walt Disney may have begun the theme park revolution at Disneyland in southern California but the Florida resort that bears his name has helped the Orlando area become the world's theme park headquarters. With nine major parks and a slew of hotels, waterparks, restaurants and other diversions, the Central Florida region has changed the very notion of what it means to take a vacation.

Why Invest in Orlando?

• The Orlando region is rapidly becoming one of the tech centers in the world
• The Orlando region added more than 44,000 jobs last year and ranks 15th in the nation among the 100 largest labor markets with at least 240,000 non-farm jobs
• A new market study by Boston based research firm Torto Wheaton predicts the Orlando region to have the 3rd fastest job creation in the US for the next 5 years
• The population in Orlando has increased 51% since 1990 with no sign of letting up

"Orlando and Orange County are wonderfully positioned in the global economy. You are one of the world's greatest travel destinations. You have such a young population. You have economic diversity, including all the high tech start-ups. You have a great climate. In short, the Orlando area is extremely well-positioned for this new millennium."
- John Naisbitt, author, Megatrends

Summary

Florida’s official web site recorded 74.5 million visitors in 2005. Investors in Florida are growing financially successful by taking advantage of the growing preconstruction real estate market. Cities, such as Orlando and Miami, make Florida one of our nation’s strongest economic states. Florida also has many advantages, for instance theme parks, museums, beautiful beaches, and also a wide variety of military bases. As you search Florida’s Investment Properties you will see a variety of listings for every major city and various vacation hotspots. Why buy property that is more expensive and needs to be fixed-up, when you can invest in a preconstruction real estate opportunity? These real estate properties can act as your home away from home or can easily be rented out to other families during the year to provide a steady income.

Orlando is the acting central location for all preconstruction real estate opportunities at this time. Orlando is more than just another city on a map and this tends to attract tourists from all over the globe. Various attractive hotspots surround this great city allowing for opportunities for investors to make money on pre-construction investments. Orlando is just miles away from the Kennedy Space Center, Tampa, and Daytona Beach allowing for a great vacation spot for a diverse group of people.

The preconstruction real estate market in Florida is growing rapidly. The average selling price for a property in Florida rose 17% over 2005. The average selling price for a preconstruction property rose 26% in 2005. As you can see, even the traditional real estate market in Florida is growing at 6% over the national average, and preconstruction real estate is booming. Developers will sometimes cut their preconstruction project into phases allowing for someone who invested in the project during an earlier phase to pay considerably less then someone who invested during a later phase.

Why is buying a home in Florida such a good investment and will the 'bubble' ever burst?

The beaches that surround Florida being some of the cleanest and least crowded you will find anywhere in the world. The weather is warm and comfortable all year round - a guaranteed recipe for success. In Central Florida there are many of the Worlds greatest attractions which are the magnet for kids and fun seekers from all over the World. With substantial inward investment in the State, property prices are increasing at a fantastic rate! Florida has it all, wealth, employment and growth all working together to produce a very buoyant and exciting economy.

What type of property should I buy and where is the best location?

This depends on what you want from your investment and how you plan to use it. Are you after investment income or capital growth through appreciation? Are you looking for a holiday or a seasonal second home? Do you want an income by renting the property? Renting can produce enough income to cover all of the outgoings including the mortgage. For the ideal solution to your particular property needs we'll draw up your own personal property profile so that you can decide which suits you best.

Should I arrange finance for the purchase or should I buy cash?

In most cases it is better to have finance on the property. By finding a deposit of only 20% means you can keep the majority of your investments in place still earning you money. The interest on the loan is tax deductible against your income. In the case of a rented investment property the income generated can finance the purchase.

If I buy a property for rental income how many weeks must I rent to achieve a break even and what are "guaranteed rentals"?

The location, cost and type of property will have major effects on the income achievable for weekly 'short term' rentals. Very careful costing analysis must be calculated before you purchase a property for this purpose. In good rental areas the optimum property will need to be let for around 35 weeks to break even. Many people make the mistake of buying based on the promise of a "guaranteed rental income" this is a mistake for two reasons. It is an unlawful "inducement" in Florida to promise a guaranteed return on a Real Estate transaction. And, if you cannot afford to buy without achieving the minimum income guaranteed you could seriously restrict your current standard of living.

I have heard that some areas have restrictions on rentals and periods of rental occupancy, is this true?

Yes, rental restrictions and deed restrictions are rules that are specific to individual areas and developments. We can give you the correct information you need on specific areas, builders and developments to make sure that your required property usage is allowed within your chosen location. This information must be seen in writing before any contracts are signed, the information given by builders can also be checked at the County Hall records office.

I want to buy a home in Florida can Totally Florida help with all property purchases?

Yes, The Totally Florida team are professionally qualified so no matter what it is you are looking for we can help. It may well be that you do not see what exactly what you want on this web site but Totally Florida acting as your personal "Buyers Broker" will tailor it's service to your requirements and help you find the perfect property. We offer continuity and consistency and can if required give testimonials from past and present clients who have been delighted with our services.

Can I "Try before I buy"?

Yes, if required, you can visit the area and stay in a Florida home that is similar to what you are looking to purchase. We can arrange all of this for you. If you already have a visit or holiday planned we can arrange a guided tour with one of our own licensed professional area representatives. This would be without obligation or high pressure sales tactics.

Can you offer a professional Property Management Service to look after my home?

Yes, we can offer a professional Property Management Home Care service which takes care of the homes sold by us. We have the highest level of customer satisfaction possible. We ensure both homeowners and guests have time to enjoy their stays in Florida without having to worry about property related matters. The service we provide covers all aspects of the ongoing care and maintenance needed to keep your property in prime condition. We pride ourselves in caring for your home. We always give you the continuity of all related services which is needed for trouble free Florida home ownership.

What else can Totally Florida help me with?

We offer you the wide variety of services and information which you need to make an informed decision on buying the right property. We can also, through our professional affiliates, offer competent and professional advice and services in such fields as; Tax Planning, Accounting, Commercial and Business Purchases, Investments, Wills and Immigration.

Once I own a property in Florida how long can I stay there?

If you are not a US citizen you can stay in Florida for up to 6 months (186 days) in any one 12 month period. If you would like to stay in Florida longer we can put you in touch with competent Immigration specialists who can discuss other options to allow this.

Our View

A complete reverse in the market over the last 6 months has seen prices steady to a realistic level. Inventory of resale properties has soared from 3,200 to 18,400 in the two main Orlando metro areas over the last 12 months and builders are starting to see buyers brokers negotiating prices to get the best deal for their clients. Interest rates have risen an average of 1% in the year to date but for overseas buyers the exchange rate has improved to help compensate. Real estate pundits say it will be another "Bumper year" with even more US domestic buyers moving in to reside and invest in buy to lets.

Buyers who are thinking of waiting for bargains or just to watch the market must not wait too long as prices will soon start to rise again as a result of the influx of approximately 1,000 new out of state buyers (Residential/domestic) moving to Central Florida weekly, some of which are buying the older short-term rental homes to live in. This will mean there will be fewer rental homes which will help boost prices and raise rental income. There has always been a "lull" after a "boom" and then off it goes again - just study real estate trend history and think how much your house cost when you bought it against what it is worth now.

"Buyer beware" some realtors will only show you the houses they want you to buy simply because they will make more money, this is a fact. We have Realtors telling us they will not show or sell some of our properties because some of our commissions are too low, they are not acting in the best interests of the buyer or seller.

Sellers who want or need to sell quickly must "Price their homes to sell" and be the cheapest on the street, not the average or they will have to wait a long time for offers. Owners who want to just test the market by putting their homes on at a higher price may be waiting a long time for offers unless they have an exceptional property in a one off location.

Owners need to have a pro-active real estate company working for them who can market World wide, we do not just put a sign in your yard then sit back and wait for other real estate agents to bring a client along.

Please be aware of the sharp practices happening at the moment to gain listings. Owners will receive cards in the mail informing them what has been sold in their area, many of the cards imply the mailer has sold them, which is very rarely the case. It is rare that these mail shots are completely factual as they often contain inflated prices, selective sales and old sales and are therefore misleading. This is selective information to tempt you to list your house with them.

Don't get caught out - Whatever you are looking to do please talk to Totally Florida Plus for an honest, current and informed opinion without the sales "patter" - we can help you make better decisions.

2005 Homesales

Florida's housing market thrived in 2005 despite another active Hurricane season, coming close to reaching the 250,000 for annual homesales. Actual figure sold was 248,565 which represents a 2% increase over 2004 sales.

The statewide average sales price rose by 29% at year end.

Source: Florida Association of Realtors

Farmland

Demand for land by developers, investors and speculators pushed the value of agricultural land to record levels through 2005. Prices were up 50% to 88% in all regions of the state during the past year.

Source: University of Florida survey

5 Year Appreciation

The property price statewide average has topped the 100% mark over the last 5 years and is continuing to boom. An average home will now cost $235,100 as opposed to around $110,000 in 2000.

Source: University of Florida survey