Florida tipped as best for bargain property in 2010
Florida prices at bargain level
Florida is set to be one of the bargain hotspots of 2010 for real estate,
according to a new report.
As the global recession eases and the recovery begins, experts are
forecasting that investor confidence will flow back into the US real estate
market. New home sales should post an increase of around 20% from the very
low levels seen in 2009, according to the report.
It points out that few real estate markets have suffered more than Florida
where oversupply has been a major factor in driving down prices.
Foreclosures and a glut of unsold condominiums have especially contributed
to slowing down the Florida housing market.
Sean Snaith, economics professor and forecaster for the University of
Central Florida in Orlando, agrees. ‘For international buyers, 2010 will be
a great time to buy in Florida. The imbalance of supply and demand puts the
buyer in the driving seat. Large inventory, pricing power and the continuing
weakness of the dollar when compared to other currencies mean awesome deals
in the housing sector,’ he said.
The report predicts that central Florida with attractions like Universal
Studios and Disney World should experience a quicker comeback than most
other areas in Florida.
Posted: 25 January 2010
Source: Property Wire
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