Taxable property values dropped 15 percent last year, say county appraisers, which is less than the 17 percent expected. The loss represents about $360 billion, or more than the value of Miami-Dade County.
At the peak of the real estate market in 2007, taxable property values hit $2.4 trillion; last year, total revenue dropped to $2.1 trillion. However, state rules mandate that county tax appraisers ignore local real estate sales by lenders, which effectively bars foreclosures from consideration.
Bill Furst, Sarasota County’s property appraiser, says that his county’s 15 percent property value decrease probably underestimates the true change. He points to county condominium sales, saying that the average condo sale was $152,000 in 2008, or 40 percent below the average in 2007. But when he ignores foreclosures, the drop appears less severe – only 20 percent year-to-year.
“The question is: What did the market drop?” Furst asks. “Did it drop 40 percent or 20 percent?” In better market times, foreclosures were considered an anomaly that unfairly tainted local property values. With so many foreclosures today, that rationale has been questioned but not changed.
Sarasota’s Herald-Tribune analyzed appraisal reports from 58 of Florida’s 67 counties. According to the newspaper, Lee County took the biggest property value hit, dropping 26 percent. Saint Lucie County came in second at 24 percent.
However, a single year’s numbers don’t accurately reflect total property decreases. Areas of Florida that saw the earliest drops in value may have seen less in 2008 if their market was also one of the first to show signs of a turnaround. While Sarasota County came in at No. 20 in 2008, it ranks No. 4 when comparing declines over a two-year period.
On a positive note in 2009, housing sales have increased, leading some experts to think the worst is over.
“Seeing those sales go up, I likened it to kind of removing the bodies from a battlefield,” says Sean Snaith, director of the University of Central Florida Institute for Economic Competitiveness. But “it’s definitely not over. Until we can get credit markets fully functioning, it’s still difficult to get a mortgage.”
Source: Herald-Tribune, June 28, 2009; Doug Sword
© 2009 FLORIDA ASSOCIATION OF REALTORS®
Tuesday, July 28, 2009
Wednesday, July 22, 2009
Bidding wars break out on low-priced homes
Bidding wars are returning to South Florida’s housing market, as investors and first-time buyers compete for homes and condominiums listed at $200,000 or less.
The race for properties is reminiscent of the boom years from 2000 to 2005, when multiple offers on all types of dwellings helped push prices to record highs.
Back then, a dearth of properties for sale had buyers rushing to scoop up anything they could find, for fear that prices would keep rising. Now, frustrated with a bloated inventory of foreclosed homes in disrepair, buyers go to great lengths when they spot a house or condo in pristine condition.
“When they find a good listing, people are pouncing,” said Terry Story, a real estate agent for Coldwell Banker in Broward and Palm Beach counties.
Agents say the heated competition has been building in recent months, a result of low mortgage rates and the $8,000 tax credit for first-time buyers that expires Nov. 30.
Steady sales increases during the past year gradually have worked off the inventory of available homes. Real estate agents are convinced that the overall market has hit bottom or is close to one.
Housing market researchers have a different take.
Because of mounting job losses and the lingering recession, the bidding wars are mostly confined to homes offered at deeply discounted prices. Also, housing experts say, the market needs more than investors and first-time buyers taking the plunge for a rebound to occur.
Analysts don’t expect across-the-board price increases soon and predict that prices in Broward and Palm Beach counties will keep falling, albeit at a slower rate, through this year and into 2010.
The bidding wars “are a good sign, but I don’t think it’s the sign that we’re at the bottom,” said Brad Hunter, a housing analyst with Metrostudy, a market research firm with an office in West Palm Beach.
Rising unemployment is sure to lead to more foreclosures and property sales later this year, which almost certainly will lower prices, Hunter and other analysts say.
Some observers suspect that lenders are holding back the supply of foreclosed homes, promoting bidding wars to increase prices now before the flood of new listings further depresses prices.
Banks dispute that notion. They say they’re overwhelmed with foreclosures and try to market them for sale as quickly as possible.
“The longer we hold them, the more money it costs us,” said Nancy Norris, a spokeswoman for banking giant Chase.
The bidding wars in South Florida are giving sellers more leverage after three years of buyers calling the shots.
Investor Greg Bales bought a three-bedroom home in Lauderdale Lakes three months ago for $65,000 – $1,900 less than what it sold for in 1985.
Bales, 41, beefed up the curb appeal with a new paint job, trees and other landscaping. Inside, he installed laminate floors, granite countertops, new kitchen appliances and an alarm system.
He put the home back on the market July 10 for $139,900 and fielded 10 offers, three for more than the asking price.
He selected a bid from a first-time buyer for $145,000, and the deal is expected to be complete next month.
“We would have had a bunch more offers, but my real estate agent told the people it really wasn’t worth their time if they weren’t submitting a full-price offer,” Bales said.
Eric Cormier of Philadelphia is searching for a small home for his sister-in-law in Delray Beach. He offered $120,000 cash for a house listed for $152,000, only to be out-bid by a few thousand dollars.
Another home he considered received four offers in one day.
“I was surprised,” said Cormier, 47. “I thought there was a fire sale going on in Florida.”
In some cases, first-time buyers are losing homes because sellers prefer dealing with cash investors who don’t have to fiddle with financing.
Meanwhile, some real estate agents are creating “drama pricing” – listing properties for far less than the market value to attract bidders and drive up the eventual selling price.
“It’s like ‘Ta-da’,” said Douglas Rill, an agent for Century 21 America’s Choice in West Palm Beach. “It creates so much of a buzz that it results in a bidding war.”
Drama pricing typically happens with short sales. Those homes aren’t as much in demand because buyers know that it can take months for the deals to close. In a short sale, a lender accepts less than what’s owed on the mortgage and forgives the remaining debt.
Tony Thomas, 44, is looking for a home in the $200,000 range in central Palm Beach County. He made three offers, only to be told each time that another buyer out-bid him.
His agent, Liz Golub, told him to “run like a bunny” to make strong offers as soon as properties come on the market. The strategy paid off recently when the owner of a home near Lantana accepted his offer. But because it’s a short sale, the bank must approve the deal, and that could take months.
“It’s frustrating,” Thomas said. “I have not seen the benefits of this buyer’s market right now.”
Copyright © 2009 Sun Sentinel, Fort Lauderdale, Fla.
The race for properties is reminiscent of the boom years from 2000 to 2005, when multiple offers on all types of dwellings helped push prices to record highs.
Back then, a dearth of properties for sale had buyers rushing to scoop up anything they could find, for fear that prices would keep rising. Now, frustrated with a bloated inventory of foreclosed homes in disrepair, buyers go to great lengths when they spot a house or condo in pristine condition.
“When they find a good listing, people are pouncing,” said Terry Story, a real estate agent for Coldwell Banker in Broward and Palm Beach counties.
Agents say the heated competition has been building in recent months, a result of low mortgage rates and the $8,000 tax credit for first-time buyers that expires Nov. 30.
Steady sales increases during the past year gradually have worked off the inventory of available homes. Real estate agents are convinced that the overall market has hit bottom or is close to one.
Housing market researchers have a different take.
Because of mounting job losses and the lingering recession, the bidding wars are mostly confined to homes offered at deeply discounted prices. Also, housing experts say, the market needs more than investors and first-time buyers taking the plunge for a rebound to occur.
Analysts don’t expect across-the-board price increases soon and predict that prices in Broward and Palm Beach counties will keep falling, albeit at a slower rate, through this year and into 2010.
The bidding wars “are a good sign, but I don’t think it’s the sign that we’re at the bottom,” said Brad Hunter, a housing analyst with Metrostudy, a market research firm with an office in West Palm Beach.
Rising unemployment is sure to lead to more foreclosures and property sales later this year, which almost certainly will lower prices, Hunter and other analysts say.
Some observers suspect that lenders are holding back the supply of foreclosed homes, promoting bidding wars to increase prices now before the flood of new listings further depresses prices.
Banks dispute that notion. They say they’re overwhelmed with foreclosures and try to market them for sale as quickly as possible.
“The longer we hold them, the more money it costs us,” said Nancy Norris, a spokeswoman for banking giant Chase.
The bidding wars in South Florida are giving sellers more leverage after three years of buyers calling the shots.
Investor Greg Bales bought a three-bedroom home in Lauderdale Lakes three months ago for $65,000 – $1,900 less than what it sold for in 1985.
Bales, 41, beefed up the curb appeal with a new paint job, trees and other landscaping. Inside, he installed laminate floors, granite countertops, new kitchen appliances and an alarm system.
He put the home back on the market July 10 for $139,900 and fielded 10 offers, three for more than the asking price.
He selected a bid from a first-time buyer for $145,000, and the deal is expected to be complete next month.
“We would have had a bunch more offers, but my real estate agent told the people it really wasn’t worth their time if they weren’t submitting a full-price offer,” Bales said.
Eric Cormier of Philadelphia is searching for a small home for his sister-in-law in Delray Beach. He offered $120,000 cash for a house listed for $152,000, only to be out-bid by a few thousand dollars.
Another home he considered received four offers in one day.
“I was surprised,” said Cormier, 47. “I thought there was a fire sale going on in Florida.”
In some cases, first-time buyers are losing homes because sellers prefer dealing with cash investors who don’t have to fiddle with financing.
Meanwhile, some real estate agents are creating “drama pricing” – listing properties for far less than the market value to attract bidders and drive up the eventual selling price.
“It’s like ‘Ta-da’,” said Douglas Rill, an agent for Century 21 America’s Choice in West Palm Beach. “It creates so much of a buzz that it results in a bidding war.”
Drama pricing typically happens with short sales. Those homes aren’t as much in demand because buyers know that it can take months for the deals to close. In a short sale, a lender accepts less than what’s owed on the mortgage and forgives the remaining debt.
Tony Thomas, 44, is looking for a home in the $200,000 range in central Palm Beach County. He made three offers, only to be told each time that another buyer out-bid him.
His agent, Liz Golub, told him to “run like a bunny” to make strong offers as soon as properties come on the market. The strategy paid off recently when the owner of a home near Lantana accepted his offer. But because it’s a short sale, the bank must approve the deal, and that could take months.
“It’s frustrating,” Thomas said. “I have not seen the benefits of this buyer’s market right now.”
Copyright © 2009 Sun Sentinel, Fort Lauderdale, Fla.
Tuesday, July 21, 2009
Google tweaks real estate listings on Google Maps
Google Inc. may crush all other Internet search portals, yet when it comes to real estate listings, it’s often less of a destination than a pit stop. But will that change?
The Internet search behemoth drives a ton of Web traffic to real estate sites everyday. Still, Google hasn’t made a major play for domination in the online property search market, unlike sites such as Zillow.com, Trulia.com and Yahoo Real Estate.
So when Google makes a move in the real estate space, everyone watches for clues that might signal the sleeping giant is hungry for a bigger piece of the real estate pie. Such a move came about last week, when Google decided to spruce up its popular Google Maps page to highlight its real estate search tools and also began making searches for home listings available in Australia and New Zealand.
In the short term, the move will boost traffic to other real estate Web sites, figures Bill Tancer, general manager of research for Hitwise, an Internet tracking firm. But long-term, could be a different story.
“It’s a competitive threat,” Tancer suggests.
Established online listing hubs like Trulia and Zillow aren’t quaking in their boots, yet. And they don’t appear to have any reason to, according to Google spokeswoman Elaine Filadelfo.
“We’re certainly thinking about ways to improve the product,” Filadelfo says, “but it’s more about improving user experience, as opposed to how can we become the No. 1 real estate destination.”
For years, Google invited real estate professionals and others to submit their listings of homes for sale to the site via the Google Base portal – for free. It began letting users of its maps tool look up homes for sale about a year ago.
Still, the company didn’t trumpet its real estate functions on its sparse home page. You had to dig to get to Google’s property search functions, which are primarily tied to its maps tool. Even there, the option to search for real estate listings was hard to find.
If you typed in, say, “real estate Los Angeles,” Google displayed links to real estate firms and showed a city map splayed with dots where those businesses were located.
Cue Google’s redesign last week.
Now, a real estate query on Google Maps brings up a page with a link in the top left corner advertising real estate listings search. Or you can select the search options tab and click on a drop-down menu that includes a link to search for real estate listings.
An easier way to get there from the main Google page is to enter the search term “Google housing search.” That kicks back a link for Google Maps Real Estate at maps.google.com.
This page has a search box for looking up properties currently on the market by city, suburb or neighborhood within Google Maps. Like many other real estate Web sites, users here can refine their searches according to certain criteria, including number of bedrooms, bathrooms, square feet and price range.
Type in Los Angeles, for example, and the site shows a map of the city nearly covered with red dots representing everything from homes for sale to homes that have received a foreclosure-related notice. Zoom in closer and a bubble pops up with photos, price and links for other information, including the Web site that is hosting the listing. Users also can use Google’s Street View function to get a virtual on-the-ground peek at the neighborhood for any given property.
Since Google put in the changes, Google Maps has begun driving more traffic to real estate Web sites, Tancer says.
That’s still a far cry from Google’s main search site, which Hitwise says is the No. 1 source of traffic to real estate Web sites. Last week, users looking up real estate search terms on Google.com generated roughly 24 percent of all traffic to real estate sites, Tancer said.
Greg Sterling, an Internet analyst with Sterling Market Intelligence in San Francisco, says it would be tough for Google to compete with real estate-focused Web sites.
“That would be difficult for them to do, given that there are sites ... that have much richer and very specialized experiences around real estate that Google isn’t going to compete with because they’re not going to devote the kind of resources (needed),” Sterling says.
Trulia and Zillow executives say they’re not losing sleep over the possibility, either.
“The real estate search and transaction process is very complex and very nuanced,” says Pete Flint, CEO of Trulia. “Google just doesn’t have the focus to be able to deliver an amazing experience on this.”
We’ll see.
On the Net: Google Maps Real Estate: http://maps.google.com/realestate/
Zillow: http://www.zillow.com/
Trulia: http://www.trulia.com/
Source: AP
The Internet search behemoth drives a ton of Web traffic to real estate sites everyday. Still, Google hasn’t made a major play for domination in the online property search market, unlike sites such as Zillow.com, Trulia.com and Yahoo Real Estate.
So when Google makes a move in the real estate space, everyone watches for clues that might signal the sleeping giant is hungry for a bigger piece of the real estate pie. Such a move came about last week, when Google decided to spruce up its popular Google Maps page to highlight its real estate search tools and also began making searches for home listings available in Australia and New Zealand.
In the short term, the move will boost traffic to other real estate Web sites, figures Bill Tancer, general manager of research for Hitwise, an Internet tracking firm. But long-term, could be a different story.
“It’s a competitive threat,” Tancer suggests.
Established online listing hubs like Trulia and Zillow aren’t quaking in their boots, yet. And they don’t appear to have any reason to, according to Google spokeswoman Elaine Filadelfo.
“We’re certainly thinking about ways to improve the product,” Filadelfo says, “but it’s more about improving user experience, as opposed to how can we become the No. 1 real estate destination.”
For years, Google invited real estate professionals and others to submit their listings of homes for sale to the site via the Google Base portal – for free. It began letting users of its maps tool look up homes for sale about a year ago.
Still, the company didn’t trumpet its real estate functions on its sparse home page. You had to dig to get to Google’s property search functions, which are primarily tied to its maps tool. Even there, the option to search for real estate listings was hard to find.
If you typed in, say, “real estate Los Angeles,” Google displayed links to real estate firms and showed a city map splayed with dots where those businesses were located.
Cue Google’s redesign last week.
Now, a real estate query on Google Maps brings up a page with a link in the top left corner advertising real estate listings search. Or you can select the search options tab and click on a drop-down menu that includes a link to search for real estate listings.
An easier way to get there from the main Google page is to enter the search term “Google housing search.” That kicks back a link for Google Maps Real Estate at maps.google.com.
This page has a search box for looking up properties currently on the market by city, suburb or neighborhood within Google Maps. Like many other real estate Web sites, users here can refine their searches according to certain criteria, including number of bedrooms, bathrooms, square feet and price range.
Type in Los Angeles, for example, and the site shows a map of the city nearly covered with red dots representing everything from homes for sale to homes that have received a foreclosure-related notice. Zoom in closer and a bubble pops up with photos, price and links for other information, including the Web site that is hosting the listing. Users also can use Google’s Street View function to get a virtual on-the-ground peek at the neighborhood for any given property.
Since Google put in the changes, Google Maps has begun driving more traffic to real estate Web sites, Tancer says.
That’s still a far cry from Google’s main search site, which Hitwise says is the No. 1 source of traffic to real estate Web sites. Last week, users looking up real estate search terms on Google.com generated roughly 24 percent of all traffic to real estate sites, Tancer said.
Greg Sterling, an Internet analyst with Sterling Market Intelligence in San Francisco, says it would be tough for Google to compete with real estate-focused Web sites.
“That would be difficult for them to do, given that there are sites ... that have much richer and very specialized experiences around real estate that Google isn’t going to compete with because they’re not going to devote the kind of resources (needed),” Sterling says.
Trulia and Zillow executives say they’re not losing sleep over the possibility, either.
“The real estate search and transaction process is very complex and very nuanced,” says Pete Flint, CEO of Trulia. “Google just doesn’t have the focus to be able to deliver an amazing experience on this.”
We’ll see.
On the Net: Google Maps Real Estate: http://maps.google.com/realestate/
Zillow: http://www.zillow.com/
Trulia: http://www.trulia.com/
Source: AP
Tuesday, July 14, 2009
Homebuilder Lennar: Chinese drywall in 400 homes
Homebuilder Lennar Corp. has identified defective Chinese-made drywall in about 400 Florida homes, most built in the 2006 and 2007 fiscal years, according to a federal filing.
The Miami-based company said in the filing with the U.S. Securities and Exchange Commission last week that the figure, based on accounting through May 31, represents only 2.1 percent of homes the company delivered in Florida during that time.
Lennar said it had not yet found defective drywall in any of its homes outside Florida, but continues to investigate.
The company said it has set aside $39.8 million in warranty reserves for homes that have the defective drywall and is seeking reimbursement from subcontractors, insurers and others for investigative and repair costs related to the problem.
State and federal tests have found high levels of sulfur and organic compounds in the Chinese drywall.
Homeowners across the country have sued builders, suppliers and manufacturers, claiming the fumes are ruining their houses and making them sick.
Lennar said it is named in at least 41 Florida state court lawsuits and two federal class action cases.
The company also said it filed suit in Miami-Dade Circuit Court against the entire supply chain, including manufacturers of the defective product.
Shipping records reviewed by The Associated Press indicated that imports of potentially tainted Chinese building materials exceeded 500 million pounds during a four-year period of soaring home prices, peaking in 2006. The drywall may have been used in more than 100,000 homes, according to some estimates, including houses rebuilt after Hurricane Katrina in 2005.
The federal government and state agencies, which have received hundreds of complaints from homeowners, continue to investigate potential health hazards.
Meanwhile, federal lawsuits on behalf of hundreds of homeowners from Louisiana, Florida, Ohio and other states have been consolidated, and assigned to a U.S. district judge in New Orleans.
Source: AP
The Miami-based company said in the filing with the U.S. Securities and Exchange Commission last week that the figure, based on accounting through May 31, represents only 2.1 percent of homes the company delivered in Florida during that time.
Lennar said it had not yet found defective drywall in any of its homes outside Florida, but continues to investigate.
The company said it has set aside $39.8 million in warranty reserves for homes that have the defective drywall and is seeking reimbursement from subcontractors, insurers and others for investigative and repair costs related to the problem.
State and federal tests have found high levels of sulfur and organic compounds in the Chinese drywall.
Homeowners across the country have sued builders, suppliers and manufacturers, claiming the fumes are ruining their houses and making them sick.
Lennar said it is named in at least 41 Florida state court lawsuits and two federal class action cases.
The company also said it filed suit in Miami-Dade Circuit Court against the entire supply chain, including manufacturers of the defective product.
Shipping records reviewed by The Associated Press indicated that imports of potentially tainted Chinese building materials exceeded 500 million pounds during a four-year period of soaring home prices, peaking in 2006. The drywall may have been used in more than 100,000 homes, according to some estimates, including houses rebuilt after Hurricane Katrina in 2005.
The federal government and state agencies, which have received hundreds of complaints from homeowners, continue to investigate potential health hazards.
Meanwhile, federal lawsuits on behalf of hundreds of homeowners from Louisiana, Florida, Ohio and other states have been consolidated, and assigned to a U.S. district judge in New Orleans.
Source: AP
Wednesday, July 1, 2009
Florida’s qualify of life means ‘home sweet home,’ says FAR
What does Florida have to offer? Pick up a travel brochure and some benefits are clear: Beautiful beaches. Miles of scenic parks and nature preserves. Oceans, rivers and lakes offering boating, fishing, swimming and other water recreation. A rich and varied history, which includes the city of St. Augustine, the oldest permanent European settlement in the mainland United States. Unique entertainment parks and other family-friendly attractions. Cultural activities that offer residents and visitors fine theater, music, dance and arts events. Then there is Florida’s climate featuring an average annual high of 81 degrees Fahrenheit and an average annual low of 60 degrees, giving the Sunshine State its well-known nickname and reputation.
“Florida is a great place to live and I feel privileged to call it home,” said 2009 Florida Association of Realtors® (FAR) President Cynthia Shelton. “There is so much to see, to experience and to enjoy in Florida, from the distinctive white sugar sand beaches of Destin in the north, to the family fun offered by Orlando’s theme parks and attractions, to the leisurely, laid-back lifestyle in the Keys. Whatever you like to do, you’ll find it here in Florida. We have visitors coming here from around the world to vacation in Florida. But they only get to sample what Florida offers for a brief time; when you’re lucky enough to be a Florida homeowner, there’s no end to the possibilities!”
State officials, Florida Realtors® and business recruiters agree: Florida’s unique quality of life is one of the state’s best assets. Enterprise Florida, a public-private partnership devoted to statewide economic development, notes on its Web site (http://www.eflorida.com) many of the amenities found in the Sunshine State.
• Florida beaches were awarded more top 10 spots than any other state, including the No. 1 beach in the U.S., Caladesi Island State Park, on America’s Best Beaches list for 2008. This internationally recognized ranking by Dr. Stephen P. Leatherman (aka Dr. Beach) is based on 50 criteria including number of sunny days, sand softness, algae and pollution content, safety record, and more. Leatherman is a Ph.D. coastal scientist, professor of environmental studies and director of the Laboratory for Coastal Research at Florida International University in Miami.
• The state’s park system, one of the largest in the U.S., has 160 parks covering more than 700,000 acres and 100 miles of Florida’s beaches.
• Seven of Relocate-America’s Top 100 Places to Live in 2008 were Florida cities, including one, Flagler Beach, which was named to the Top 10. These rankings attest to Florida’s high quality of life, and are based on a combination of economic data and feedback from people who live in each area.
• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates. For example, the state’s homeownership rate currently stands at about 70 percent, well above the national average. And, with data from the Florida Association of Realtors showing that $187,800 was the statewide median price for an existing home at year-end 2008, housing prices compare well to other similar states.
• Noted for its outstanding statewide system of trails, Florida was named the Best Trails State in America, winning the biennial National Trails Award in this past November from the national nonprofit organization American Trails.
• Five Florida universities were named to the Best Values in Public Colleges list for 2009 by Kiplinger’s Personal Finance. The schools are University of Florida, ranking No. 2 in the nation; New College of Florida, No. 8; Florida State University, No. 17; University of Central Florida, No. 42; and the University of South Florida, No. 75. Among other criteria, these rankings recognize schools with top academics and affordable costs.
© 2009 FLORIDA ASSOCIATION OF REALTORS
“Florida is a great place to live and I feel privileged to call it home,” said 2009 Florida Association of Realtors® (FAR) President Cynthia Shelton. “There is so much to see, to experience and to enjoy in Florida, from the distinctive white sugar sand beaches of Destin in the north, to the family fun offered by Orlando’s theme parks and attractions, to the leisurely, laid-back lifestyle in the Keys. Whatever you like to do, you’ll find it here in Florida. We have visitors coming here from around the world to vacation in Florida. But they only get to sample what Florida offers for a brief time; when you’re lucky enough to be a Florida homeowner, there’s no end to the possibilities!”
State officials, Florida Realtors® and business recruiters agree: Florida’s unique quality of life is one of the state’s best assets. Enterprise Florida, a public-private partnership devoted to statewide economic development, notes on its Web site (http://www.eflorida.com) many of the amenities found in the Sunshine State.
• Florida beaches were awarded more top 10 spots than any other state, including the No. 1 beach in the U.S., Caladesi Island State Park, on America’s Best Beaches list for 2008. This internationally recognized ranking by Dr. Stephen P. Leatherman (aka Dr. Beach) is based on 50 criteria including number of sunny days, sand softness, algae and pollution content, safety record, and more. Leatherman is a Ph.D. coastal scientist, professor of environmental studies and director of the Laboratory for Coastal Research at Florida International University in Miami.
• The state’s park system, one of the largest in the U.S., has 160 parks covering more than 700,000 acres and 100 miles of Florida’s beaches.
• Seven of Relocate-America’s Top 100 Places to Live in 2008 were Florida cities, including one, Flagler Beach, which was named to the Top 10. These rankings attest to Florida’s high quality of life, and are based on a combination of economic data and feedback from people who live in each area.
• In many ways, Florida’s cost of living is below that of other states with similar economic growth and in-migration rates. For example, the state’s homeownership rate currently stands at about 70 percent, well above the national average. And, with data from the Florida Association of Realtors showing that $187,800 was the statewide median price for an existing home at year-end 2008, housing prices compare well to other similar states.
• Noted for its outstanding statewide system of trails, Florida was named the Best Trails State in America, winning the biennial National Trails Award in this past November from the national nonprofit organization American Trails.
• Five Florida universities were named to the Best Values in Public Colleges list for 2009 by Kiplinger’s Personal Finance. The schools are University of Florida, ranking No. 2 in the nation; New College of Florida, No. 8; Florida State University, No. 17; University of Central Florida, No. 42; and the University of South Florida, No. 75. Among other criteria, these rankings recognize schools with top academics and affordable costs.
© 2009 FLORIDA ASSOCIATION OF REALTORS
Subscribe to:
Posts (Atom)