Florida property crash.
06 August 2008, 05:00 PM
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Florida property crash.
Just can't believe the number of houses for sale out here, at knockdown prices.
One on the estate we're on, 4 bedroom/3 bath with spa and pool, foreclosure notice on the garage door, $189,000.
There are literally hundreds of similar properties all over the place.
Weather is steaming hot, heat index hit 102 yesterday.
One on the estate we're on, 4 bedroom/3 bath with spa and pool, foreclosure notice on the garage door, $189,000.
There are literally hundreds of similar properties all over the place.
Weather is steaming hot, heat index hit 102 yesterday.
06 August 2008, 06:11 PM
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If youe trust the weathermen, sorry trained meteorologist, out here, then maybe.
However, in the 7 days we've been here they've been tracking:
1 Tropical storm Eduardo. " Could be coming our way ", but ended up going in the complete opposite direction.
2. Numerous atlantic depressions.
3. On shore breezes.
4. North African waves that "may develop into something " But don't.
Courtesy of Bay news 9 Weather on the nines.
06 August 2008, 06:55 PM
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Quite a lot of them seem to track across the gulf up towards Houston if im right ...
Ive been in Boston in similar temperatures not completly sure id want to be in Florida in the same even with a pool but the prices are tempting its got to be said - my pa lives 2 states up and its been in the 90's there for weeks on end apparently ..!
Ive been in Boston in similar temperatures not completly sure id want to be in Florida in the same even with a pool but the prices are tempting its got to be said - my pa lives 2 states up and its been in the 90's there for weeks on end apparently ..!
06 August 2008, 06:59 PM
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the houses are built for them hurricanes anyway 
If you are planning to buy out there it is certainly a good time, although who knows if it is going to get better? the only thing that kills the ownership is the amount of time able to spend there and the distance, although it is one of my favorite places and I would buy there if I had the money.... or could get around those minor issues.
If you are planning to buy out there it is certainly a good time, although who knows if it is going to get better? the only thing that kills the ownership is the amount of time able to spend there and the distance, although it is one of my favorite places and I would buy there if I had the money.... or could get around those minor issues.
06 August 2008, 07:10 PM
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06 August 2008, 07:15 PM
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We used the site you recommended to look for Florida villas and now my inbox is choked with people desperate for us to rent their villa. I guess that explains the foreclosure notice!
06 August 2008, 07:22 PM
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06 August 2008, 07:30 PM
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Try my sisters Abracadabra in Orlando Florida | Vacation Homes | Villa Rentals | Property Sales & Management she has four villas with pools in KIssimme. Very close to Disney. For rental or to buy !!!
06 August 2008, 08:27 PM
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I've logged on tonight specifically to ask about property in Florida, been looking for a while now and thinking about taking the plunge. Does anyone own property out there?
Some cracking 4 bed pool villas around the $180-225,000 mark
Is it a good time to buy there? surely the only way is up in the US
What are rentals like?, i wouldn't be too bothered if it only rented out 1 week in the month as mortgage payments would only be around £450 a month and i could pay it even if it didn't rent at all.
Really thinking it might be a good idea? anyone share any experiences?
Some cracking 4 bed pool villas around the $180-225,000 mark
Is it a good time to buy there? surely the only way is up in the US
What are rentals like?, i wouldn't be too bothered if it only rented out 1 week in the month as mortgage payments would only be around £450 a month and i could pay it even if it didn't rent at all.
Really thinking it might be a good idea? anyone share any experiences?
06 August 2008, 09:53 PM
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The number of foreclosures is rather astounding, and somewhat worrying for those losing their homes. Some may say they have only themselves to blame, but it still isn't pleasant for them.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
06 August 2008, 09:53 PM
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Been many, many times and I know a few people who have bought and sold over there, stayed with them in their homes etc.
The market has been a bit stale for the last 3 or 4 years, more so now though. The late 80s through to about 2000 were the boom years.
I think its a great place, plenty to see and do and easy to get flights out to all over the US with Orlando airport close by. Exchange rate is good, infact great. Orlando is fairly safe in terms of the US and its very geared up to deal with Brits etal.
The main issue, is its just too far away from the UK for me.
I am watching the french market, E180k will buy some very nice houses now.
Exchange rate is not as good but I can be there in 5 hours (flight incl check in and check out etc). USA is a 12 hour trip, easily, makes it almost impossible to just pop over for a long weekend.
The other main issue is you could never retire there if you were a UK citizen, visas are 90 days and they frown at people taking weekends off in Mexico on the 89th day and coming back in again shortly after. I know some people who tried it and were kindly asked to leave the country. In a way its silly, but thems the rules.
For me, I am looking for something I can put a bit of money into now, and then pay the rest off over the next 20 years or so. Nothing too expensive so I dont notice the money gone but then when I am 50 ish I can spend as long or as little as I want there. For me rural France is the ideal solution.
Might never happen but one can hope!
The market has been a bit stale for the last 3 or 4 years, more so now though. The late 80s through to about 2000 were the boom years.
I think its a great place, plenty to see and do and easy to get flights out to all over the US with Orlando airport close by. Exchange rate is good, infact great. Orlando is fairly safe in terms of the US and its very geared up to deal with Brits etal.
The main issue, is its just too far away from the UK for me.
I am watching the french market, E180k will buy some very nice houses now.
Exchange rate is not as good but I can be there in 5 hours (flight incl check in and check out etc). USA is a 12 hour trip, easily, makes it almost impossible to just pop over for a long weekend.
The other main issue is you could never retire there if you were a UK citizen, visas are 90 days and they frown at people taking weekends off in Mexico on the 89th day and coming back in again shortly after. I know some people who tried it and were kindly asked to leave the country. In a way its silly, but thems the rules.
For me, I am looking for something I can put a bit of money into now, and then pay the rest off over the next 20 years or so. Nothing too expensive so I dont notice the money gone but then when I am 50 ish I can spend as long or as little as I want there. For me rural France is the ideal solution.
Might never happen but one can hope!
06 August 2008, 10:36 PM
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The number of foreclosures is rather astounding, and somewhat worrying for those losing their homes. Some may say they have only themselves to blame, but it still isn't pleasant for them.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
what you must all bear in mind though that Florida's version of the council tax is very expensive if your a non Florida resident.
If you reside in Florida you get a discount of 50 percent so basically if you live over here you pay double that of what a Floridian pays, it has really hurt some brits who rent out there home and a lot are selling adding further to the falling house prices over there.
My Dad pays over 3 grand a year in state tax
06 August 2008, 10:41 PM
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Well I never, something the yanks make easy(ish) for non residents! 
You still have the "joy" of getting into the US though
There has been a bit of a decline in house prices here, which is slightly good news for us as we're looking to buy a house soon.
You still have the "joy" of getting into the US though There has been a bit of a decline in house prices here, which is slightly good news for us as we're looking to buy a house soon.
07 August 2008, 12:10 AM
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Good condos can be had for 50-70k now but what worries me is that certain areas are practically ghost towns as people are selling and people who own holiday homes cannot rent them out.
Davenport springs to mind!!!
Davenport springs to mind!!!
07 August 2008, 04:26 AM
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Jods, I've sent ou a PM.
09 August 2008, 04:50 PM
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Not just florida but all over U.S. Some have dropped by 25% and repossessions are at an all time high. As mentioned above check on all property taxes and local taxes you will be liable to pay. If you dont pay your taxes then you could lose your house.
09 August 2008, 11:08 PM
#23
The number of foreclosures is rather astounding, and somewhat worrying for those losing their homes. Some may say they have only themselves to blame, but it still isn't pleasant for them.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
I'm not sure what the situation is in regards to a non-resident (or at the least someone without a work permit/visa/green card) purchasing property in the US, I can see how they could be a bit funny about it, plus I'd have thought there would be US tax implications, but I could be wrong. There is also the question of a mortgage, as again, I doubt a US bank would give you an account, let alone a mortgage.
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