Brits pour into Florida as house prices fall

British residents looking to live abroad are likely to be increasingly attracted to Florida, thanks to a fall in property prices in previously unaffordable areas.

Figures obtained by the US census bureau and the department of housing and urban development revealed earlier this week that the average American property sold for approximately £16,000 in June, while the typical price of a new home was £125,000.

Annette Reeve, director at Mayfair International Realty, said that those who have their eye on a place in Orlando will get a lot more for their money than before due to a sharp fall in prices.

"From Orlando's point of view, your pound is going so much further," she said. "You can buy a much nicer house in Orlando than you would have been able to four years ago."

Reeve added that those who are willing to move slightly nearer to the coast will be able to find properties in areas such as Cocoa Beach and Sarasota, which many would have deemed too expensive in the past.

Those contemplating moving to Florida might want to arrange to have their possessions looked after in a secure storage facility for several weeks or months.

Written by Susannah Birkwood

Long term growth is in the very near future for the Panhandle of Florida

by: Tommy Brantley of Beach Properties


While most of the Country waits for the economy to play out and recover the Panhandle of Florida has a bright spot on the horizon...a new International Airport. Located in the West Bay Sector of Panama City Beach the new airport is going to provide economic stimulation, both in terms of real estate development and business growth.

Indeed the small existing airport has hindered the area's growth while most other parts of Florida have grown immensily over the last 30 years. New airports around the State have proven to have a history of spurring growth over the long run. Just 10 years after the Southwest Florida International Airport opened in Ft. Myers, the population in Lee County grew 31.6 percent, considerably faster than the rest of the state and it continues to grow to this day.

After larger jets are able to fly to this area, more visitors will start coming from cities located in the Midwest and Northeast. Ultimately this will not only bring in more vacationers, but more businesspeople with site selection on their minds, and more real estate investors.

Currently the airport is in talks with low-cost air carriers about flying into the airport, which is a key component in spurring future development in the region. Bagging such a carrier to fly in and out of the new airport is so important that a small increase in Bay County's bed tax was approved to pay for the effort.

There will be 1,200 acres available for on-site industrial or other commerical development, including sites with direct runway access. The airport itself is only a small part of an entity called the West Bay Sector Plan, a master plan of 75,000 acres along the West Bay just northwest of Panama City. The Plan ultimately calls for the development of 37 million square feet of commerical property and 27,000 residential units. What makes this Plan so unique is that it calls for the conservation of 41,000 acres of the total 75,000 acres, including 33 miles of West Bay shoreline and 44 miles of creek and tributaries, to NEVER be developed.

An undertaking this large will undoubtedly change many times during the course of development. Starting small and branching out is the smartest way to ease into the project. Once the Airport is complete, it will attract airport services, which will, in turn, encourage hotel and retail growth. And this is just the beginning...

Tommy Brantley
tommy@beachpropertiesofflorida.com
850-699-6837 - Cell
850-213-5150 - Office
850-213-5155 - Office Fax

New Airport Info

Tommy found great new information to us about the Panama City Airport progress. Check them out:

http://www.beachpropertiesofflorida.com/news.php

Happy 4th!!

Your friends at Beach Properties of Florida would like to wish you a happy 4th of July!!