Time to buy property in America
March 22nd, 2012 |
Fort Myers has always been a great place for the Brits and Germans to buy and with prices at the moment similar to that of 2002 it is a great time to buy
Say it softly. But after years of misery, it looks as if the housing market across the pond is at long last making a comeback. If you’ve ever dreamt of owning a Florida holiday villa, or a chic Sex and the City-style New York apartment, it might be wise to buy it soon.
The latest figures show the first green shoots for the wider economy and a housing recovery. In the past six months, 1.9?million American jobs have been created, and unemployment is down from 10.4 per cent to 8.3 per cent. Economic growth is running at an annual 2.8 per cent. The car industry, often seen as a good barometer, is booming – General Motors sold 640,000 more vehicles last year than in 2010.
This is beginning to translate into optimism in the housing market. One builder, MDC Holdings, has reported a 32 per cent rise in orders for new houses. Another, Beazer Homes, predicts more orders in 2012 than in 2011.
The National Association of Realtors, an umbrella organization for estate agents, predicts that sales of new homes will rise from 305,000 last year to 351,000 in 2012, while the number of new homes to be built will go up from 599,000 in 2011 to 702,000 this year.
“This is the longest period of sustained improvement we’ve seen since 2007,” says David Crowe, the chief economist of the US National Association of House builders.
“In real terms, property prices in the US are back to where they were around the turn of the millennium, with prices in some states 70 per cent below their 2006 peak,” says Gary Young of Universal Vacations, a property management and rental company based on Florida’s Gulf Coast. Young continued “Despite the country’s vastness, however, the majority of British buyers tend to congregate in three parts of Florida. The first is along the Gulf coast, south of Tampa Bay and north of the Everglades. The resort town of Naples has 50 golf courses and the region is up market, Fort Myers has always been a great place for the Brits and Germans to buy and with prices at the moment similar to that of 2002 it is a great time to buy, yet there are plenty of bargains and with US mortgages for foreign national starting to come back into the marketplace things are set to move in an upward direction. Contact Universal Vacations today for more information on purchasing along Florida’s Gulf Coast www.univacus.com or from the UK 0800-652-7795 US & Canada 1-866-845-5226 Continue reading “Time to buy property in America” »
