Is Now The Time To Buy Real-Estate In The US? Florida Looks A Good Bet To Us

When on a recent 5-week vacation over December 2009 and January 2010, my wife, Eve Grace-Kelly, and I researched the real-estate market in Florida, with the help of a superb team from Naples. (Contact me if you want their information.) We fell in love with the Gulf Coast of Florida, especially Naples and Sarasota. We visited a few properties and decided to ‘dip a toe in the water’ with an offer on a luxury condominium for winter holidays.

Having found a high-end gated community a short drive from the gorgeous beaches of Naples (some of the whitest sand we’ve seen, including the Caribbean!), we viewed a delightful property listed as  ‘short sale’. We reviewed the ‘comps’ (comparable properties for sale and sold to assess actual sale prices achieved) with the broker and agent, a critical step when buying a home, to ensure that the place seemed a good investment and then offered 25% less than the asking price! (That’s almost 80% below the sales prices of 5 years ago!!) We heard yesterday that a counter-offer by the bank was only a small percentage above our offer, so we accepted this and should be going into escrow today!

Watch this space for updates on how the process goes for foreigners (we’re Brits) buying in America.

By the way, last weekend’s UK Sunday Times newspaper had an interesting article on how Florida was looking a very good prospect for property purchase right now. To read more, click this link.

Have a great day.

Don’t forget to check out our brand new book of top tips on how to sell your home for more money, in any market, even this one!
Click this link to find out more or visit the relevant page on this website.

Vinden Grace

Writing from a snowy Brussels, in mid-March!

Eve Grace-Kelly & Vinden Grace - Naples, Florida Dec 2009

Naples, FL condo - one of the lakes

Condo swimming pool, Naples, Florida

“House Prices fall ‘spells the end of mini-boom’ [in the UK]“?

The newspapers in England were today talking about the first house prices fall in 10 months, as reported by the Nationwide.
They say this raises fears that the so-called mini-boom (slight recovery?!) in the UK is over.

Average house prices fell in February by 1% (February’s not quite over yet though   )

The Nationwide’s Chief Economist was reported as saying that February’s fall may be a ‘temporary blip’ but could be ‘the start of a new trend’.
He is forecasting flat prices this year, i.e. no rise or fall overall.

Hometrack’s Director of Research reported that ‘our latest figures show prices have been rising in just 7% of postcodes – these largely confined to southern England’

What do you predict is going to happen in 2010 to house prices in your country and area??

Vinden Grace