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Fort Walton Beach Real Estate Law Blog

Residential real estate market in Florida to boom during winter

In Florida, housing continues to be a gold mine for sellers and investors. Sales of existing homes in the Southwest Florida area continued to go up last month, with area residential real estate prices rebounding from the flat September prices. This signals yet another solid winter for the area's real estate market.

Statistics show that real estate agents sold more than 2,100 houses and condos in Charlotte, Manatee and Sarasota counties back in October. This was a boost of more than 6 percent from the month of September. It was also an increase of more than 16 percent from the exact same period in 2013.

Florida commercial real estate drawing international interest

Property in the United States is increasingly being purchased by international buyers. The Florida commercial real estate market, in particular, is drawing interest abroad. The fact that the Sunshine State is a hot spot for buyers may give confidence to those who are interested in selling their Florida properties or buying property in a highly valued area.

Besides Florida, other parts of the country that are attracting buyers include the Southwest and Northeast. The nation's capital is also a popular area to make purchases. Not only are buyers targeting commercial properties, but they are also focusing on residential properties as well.

Commercial real estate market resurging in South Florida

In Southwest Florida, recovery from the recent recession has never looked better. As part of this recovery, the state's commercial real estate market has been steadily resurging. This market experienced hard times a couple of years ago after residential construction essentially imploded in 2006.

The commercial market's comeback is a reflection of the state's previous residential recovery. This shows that the building of homes does play a huge role in the state and local economies. When people buy houses, individuals in many sectors are able to return to work; these include electrical contractors, plumbers, drywall professionals, air conditioning contractors and lenders.

Residential real estate in Florida being purchased by foreigners

It's not just American "snowbirds" who are eyeing real estate in sunny Florida these days. Foreigners who aren't residents purchased nearly $8 billion in Florida residential real estate through June 2014. This means that purchases in the Sunshine State rose by nearly $1.5 billion during this period, research shows.

The reason that so many foreigners have been purchasing real estate in Florida is that the state's property is affordable. In addition, Florida's real estate appears profitable to many buyers. International sales made up a tenth of the state's residential market. In addition, 25 percent of foreign purchasers of homes in America buy real estate in Florida. Nearly a third of home purchases were completed by Canadians.

Residential real estate demand may increase with population rise

Florida continues to be a magnet, drawing people from all over the United States. This is a sign that the state is recovering well from a lengthy period of slow growth and economic sluggishness. It's also a sign that the state's residential real estate market will likely continue to grow and strengthen in the years ahead.

The number of people born in Florida increased by a whopping 140,000 from the year 2010 through 2013, research shows. In addition, Florida gained more than 100,000 residents in both 2013 and 2012 -- an 84 percent increase from the previous couple of years. Right now, it appears that Florida's population is growing by about 700 new people each day.

Commercial real estate market looks positive in Florida

Miami is one area of Florida that remains a hot spot when it comes to the real estate market. What's surprising is that the commercial real estate market continues to boom there despite the fact that Miami is at-risk for experiencing constant flooding later on in the 21st century. Companies, investors in real estate and residents alike continue to invest in South Florida long-term.

Miami, in particular, has been experiencing a surge that has never before been seen in the construction of real estate. For instance, a huge building featuring 80 stories is in the process of being built in the urban core of the city. Although an equities and real estate crash wiped out a lot of builders in the latter part of the 2000's first decade, the South Florida area experienced a quick recovery, thus making many investors feel that large risks are certainly worth taking.

South Florida's residential real estate prices on the rise

A real estate market where home prices are rising can be welcoming news to homeowners who are trying to sell their homes. It can also be encouraging for home buyers who would like to buy in a residential real estate area that appears to be on the upswing. Recent data shows that South Florida's home prices increased by 11 percent during the month of July when compared with July 2013.

July's increase is the second largest increase nationwide, researchers said. The price index that revealed this information measured current home sales occurring in 20 big cities. The South Florida area includes Miami-Dade, Broward and Palm Beach counties.

Florida commercial real estate may be in high demand in future

A state's demographics can have a huge impact on the success of local business. These same demographics can affect the state's commercial real estate market. Right now, Florida's demographics appear to be stellar, so the state's future will likely be bright.

It is projected that Florida this year will surpass the state of New York in terms of population. It is expected to have more than 19 million people. If this happens -- if it hasn't already taken place -- Florida will be behind only Texas, with 26 million people, and California, which has 38 million.

Commercial real estate market to grow in Florida

According to economists, Florida is expected to experience economic growth over the next several years. In particular, about four or five years of economic growth will likely take place in the commercial real estate market, as rents are slated to rise and occupancy rates will probably be lower. This is just one piece of positive recent news for the state's real estate market.

The main reason that market growth is expected include increased tourism and a surging population. This will cause retail spending to go up and will result in greater demand for distribution centers, warehouses and office spaces. The state's retail market is actually expected to outperform the entire U.S. retail market.

Residential real estate prices skyrocket in Orlando area

Several counties in Central Florida have been outperforming the whole state in terms of home prices, according to new data. The successful counties are particularly those along the corridor of Interstate 4. This may be welcome news to those who are interested in selling or buying residential real estate in this part of Florida.

The four counties around Orlando saw home prices increase by more than 7 percent during the 12 months leading up to August. The midpoint home price is $185,000. Throughout the state, house prices increased by 4 percent during the same period, reaching a $181,000 median price.