REASONS TO PURCHASE A PROPERTY IN FLORIDA
Florida is an attractive destination for both international and domestic home buyers. Based on REALTORS®’ experience working with foreign buyers, the single most important factor influencing the purchase of a home is that Florida is viewed by a majority of foreign buyers (69 percent) as a desirable location. Florida real estate is viewed as a profitable investment by 21 percent of foreign buyers while 10 percent view Florida real estate as a secure investment. Other respondents mentioned favorable exchange rates as a reason for international clients purchasing real estate in Florida.
for information as to why land is the appreciating asset over time and not the structure that's built on it.
for information to see how new builds by homeowners and speculative builds by developers, investors, and contractors are affecting new residential construction.
Florida Weather & Seasons
Florida is known around the world for its balmy weather. The state's mild winters have made it a haven for retirees. Summers can be long and hot with showers providing much appreciated relief during the rainy season. Coastal areas also experience gentle breezes during the summer.
- International Trade (40% of all U.S. exports to Latin and South America pass through Florida)
- Tourism - with 87.3 million visitors in 2011 (a record number), Florida is the top travel destination in the world. The tourism industry has an economic impact of $67 billion on Florida’s economy.
- Space Industry - The space industry represents $4.1 billion of the state's economy. The average annual wage of aerospace workers is approximately $67,000. The number employed at Kennedy Space Center (KSC) alone is 13,000 and Florida ranks 4th among the states in overall aerospace employment with 33,000 jobs.
- Agriculture - Florida leads the southeast in farm income. Florida produces about 67% of the U.S. oranges and accounts for about 40% of the world's orange juice supply.
- Construction - This industry's strength results from the steady stream of new residents and visitors who are welcomed to Florida each year.
- Services - growth in high tech, financial & back office operations
- Software - many small, entrepreneurial companies
- Health Technology (medical, biotech, laboratories)
- University Research - more than $500 million per year in sponsored research at Florida universities
- (Click Here) for more information on Florida's economy
- Florida ranks low in terms of the tax burden placed on residents. Based on income, property and other state and local tax collections, the Tax Foundation research organization ranks Florida among the lowest tax states (Florida ranks #5 among the 50 states in 2013; only four states have a lower tax burden).
The Florida Weekly
. Since May 2012, the U.S. housing market has seen significant improvement in prices. In Florida, the turnaround is very clear. New residential construction abounds on the Florida west and east coasts.
Fannie Mae: Florida Housing recovery on ‘firm footing’
WASHINGTON – Jan. 7, 2014 – Year-over-year gains in Americans’ attitudes toward homeownership show that the housing recovery continues to move forward on firm footing, despite a drop in housing sentiment during the fall, according to Fannie Mae’s December National Housing Survey results
NEW YORK – Jan. 8, 2014 – Pew Charitable Trusts
– an independent, non-partisan research and public policy organization, projected expected employment growth for each U.S. state, and overall, Florida ranked fifth in expected job growth in 2014.
Since jobs and home sales go hand in hand, the growth could benefit Florida’s real estate buyers and sellers
“Florida is on a roll,”
Governor Scott said in a statement. “Cutting taxes and reducing red tape on businesses is a great catalyst for economic opportunity and job creation.”
Fla.’s housing market reflects changing conditions in Nov. 2013
ORLANDO, Fla. – Dec. 19, 2013 – Florida’s housing market reported higher median prices, more new listings and a stabilizing supply of homes for sale, according to the latest housing data released by Florida Realtors®.
Fla. leads nation in cash real estate purchases
ORLANDO, Fla. (AP) — Cold hard cash is the payment method of choice for Florida real estate buyers. New figures released Friday show that Florida leads the nation in cash purchases of real estate.Figures from the real estate site RealtyTrac shows that almost two-thirds of real estate purchases in Florida were cash sales in November. A big reason for that is the number of institutional investors buying real estate in the Sunshine State .RealtyTrac says the Jacksonville and Fort Myers real estate markets had some of the nation's highest share of real estate purchases by institutional investors.
- Number of people who move to Florida each day - 1,000
- Number of major commercial airports - 19
- Number of international airports - 12
- Number of deepwater ports - 14
- Miles of sand beaches - 1,200
- Miles of coastline - 1,800
- Number of golf courses - more than 1,250
- Florida has more golf courses than any other state
- Palm Beach County has more golf courses than any other county in the country
- Number of hotel rooms in Florida - more than 370,000
- Number of campgrounds - 700 (100,000 campsites)
- Number of people who camp in Florida each year - 6 million