Florida real estate for Canadians as an investment opportunity is one of the most lucrative real estate opportunities in the United States. Florida was the poster state of the bubble years of US real estate. It epitomized what valued property was and it followed the national trend with growth that exceeded that with inflation. From 2000 to 2006, the median price of US real estate property in the state was between $105,000 and $248,000. All that changed a year later when the US housing market collapsed.
This is the prime reason why it is so lucrative for Canadians to invest in prime properties here. The record number of foreclosures has brought an oversupply of property that exceeded the demand, plunging property values deeper. You combine this with the weak dollar and a stable Canadian currency, and you have in your hands a golden opportunity to invest in some of the most beautiful pieces of real estate in the country.
Where in Florida to Invest?
Based on data from the Florida board of realtors, the areas hardest hit when the housing bubble burst were locations along the Gulf and Atlantic coasts. Interestingly, these cities also had the highest level of appreciative value during the height of the housing market. However, areas that are located much more inland did not suffer that much price decline as those mentioned above.
There are also lucrative opportunities at active adult communities. Because the Housing and Urban Development regulates these communities, it limits the number of people below 55 years of age to live in them. Sometimes surviving family members want to dissolve the estate and are willing to sell them at really good prices, usually below market value. These properties can then be used to rent out to other retirees until you can get a return on your investment.
How to Invest?
For Canadians interested in purchasing real estate in Florida, they must first determine what budget they have for the property they intend to purchase. This is actually done by knowing the debt-to-income ratio. An ideal number would be 28:36 where 28% is the present mortgage and the rest would be revolving loans or other installment items. This would at least give a realistic picture of how much they can afford to put into the property, as real estate investment is usually a mid to long-term venture.
It is also wise to get the services of a reputable real estate agent that knows the area and the available listings. What Florida real estate for Canadians would need to have done is to get their broker to get MLS, or Multiple Listings Service, in order to be able to match the type of property they are interested in.
The State offers a wide variety of options for Florida real estate for Canadians to have the home of their dreams, from small vacation condos to prime beachfront properties that can cost a king’s ransom. Due to the collapse of the US housing market, getting these properties at an affordable price is already a reality.
If you are interested in what Florida can offer you, check out this link: www.stevemartel.com
This is the prime reason why it is so lucrative for Canadians to invest in prime properties here. The record number of foreclosures has brought an oversupply of property that exceeded the demand, plunging property values deeper. You combine this with the weak dollar and a stable Canadian currency, and you have in your hands a golden opportunity to invest in some of the most beautiful pieces of real estate in the country.
Where in Florida to Invest?
Based on data from the Florida board of realtors, the areas hardest hit when the housing bubble burst were locations along the Gulf and Atlantic coasts. Interestingly, these cities also had the highest level of appreciative value during the height of the housing market. However, areas that are located much more inland did not suffer that much price decline as those mentioned above.
There are also lucrative opportunities at active adult communities. Because the Housing and Urban Development regulates these communities, it limits the number of people below 55 years of age to live in them. Sometimes surviving family members want to dissolve the estate and are willing to sell them at really good prices, usually below market value. These properties can then be used to rent out to other retirees until you can get a return on your investment.
How to Invest?
For Canadians interested in purchasing real estate in Florida, they must first determine what budget they have for the property they intend to purchase. This is actually done by knowing the debt-to-income ratio. An ideal number would be 28:36 where 28% is the present mortgage and the rest would be revolving loans or other installment items. This would at least give a realistic picture of how much they can afford to put into the property, as real estate investment is usually a mid to long-term venture.
It is also wise to get the services of a reputable real estate agent that knows the area and the available listings. What Florida real estate for Canadians would need to have done is to get their broker to get MLS, or Multiple Listings Service, in order to be able to match the type of property they are interested in.
The State offers a wide variety of options for Florida real estate for Canadians to have the home of their dreams, from small vacation condos to prime beachfront properties that can cost a king’s ransom. Due to the collapse of the US housing market, getting these properties at an affordable price is already a reality.
If you are interested in what Florida can offer you, check out this link: www.stevemartel.com
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