Maria Norton is the creator of Florida-Retirement.Net, a website designed for those who are considering retiring to Florida or buying second homes there. She is a licensed real estate broker and a 20 year veteran of the Relocation Industry. She provides comprehensive, personalized & free, Florida Relocation Services. She has also published 4 eBooks: A Guide to Establishing Florida Residency, The Florida Beach Book, How to Create the Perfect Retirement & How to Buy a Second/Vacation Home in Florida, which are available on the website. To inquire about her Florida Relocation Services, visit her website at http://www.florida-retirement.net.
Single family home or condo, Florida beach property is the dream of many. In today's real estate market, can that dream become a reality? Is the Florida Beach for Sale? Is now the time to buy? It is and with so many advantages to living in Florida, many thousands of people will buy Florida beach condominiums or homes in Florida retirement communities this season. Who are the people that will buy these Florida beach condominiums and homes in Florida retirement communities? First, there are Americans from the northern and mid western states who are relocating to Florida or buying second homes there mainly because of the weather. A new trend finds home owners bringing their parents with them. Since people are living longer life spans now, taking care of one's parents for as long as possible is often a much more comfortable and economical solution than having them live alone or in a group living arrangement.
The other major group of Florida second home buyers is foreigners. According to a 2005 study by the Florida Association of Realtors (FAR) and the National Association of Realtors (NAR), 15% of the home sales in Florida that year were to international buyers from over 100 different countries. 87% of the realtors who were part of the Profile of International Home Buyers in Florida survey in 2005 said that they had completed at least one sales transaction with an international buyer in the preceding 12 months. And of those, 66% of them said that international buyers accounted for 25% of the sales they transacted in that same 12 month period.
Not surprisingly, the international buyers tend to purchase homes in the larger cities in Florida. Over 30% of them buy homes in the Miami-Fort Lauderdale area alone. Orlando, Naples-Fort Myers, Sarasota, and West Palm Beach all are popular locations with foreigners as well. Less than 8% of sales to international homebuyers tend to take place in cities or locations not mentioned above.
Europeans are the largest group of internationals who purchase a vacation home in Florida or relocate to Florida, accounting for 58% of the total. One country, the United Kingdom, accounts for the majority of international buyers in Florida; approximately 1/3 of all home sales in Florida to international buyers were to people from the UK. Interestingly, foreign buyers also are more likely to pay cash for their Florida home - about 36% of them will buy this way as opposed to just 10% of Americans who are buying a second home in Florida.
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