In fall 2011, Baker Real Estate Incorporated held a seminar about purchasing real estate in Florida at the Intercontinental Hotel in Toronto, and it was so popular that we exceeded standing room only status! We knew the seminar would be a success, because of the overwhelming interest Canadians have in owning real estate in that sunny southern state, which a recent Harris poll ranks as one of the top three places to live in the U.S. In fact, 23 per cent of all foreign real estate buyers in Florida are from Canada. More than 500,000 of our citizens own homes there, and in 2010, Canadians spent $9.4 billion on homes. The final statistics for 2011 are not in yet, but they may be even higher.
Many people expect that when an area comes out of a recession, real estate takes a huge jump forward. When that does not happen, they assume the market is still down. Contrary to what you may think, NOW is the ideal time to buy, as the Florida market has been slowly improving for some time. For example, in the third quarter of 2010, there were 17,980 new home sales in Florida, while this year, there were 20,383 in that same timeframe. That’s a 13 per cent increase year over year. This is not a major jump, but if owning property in Florida is on your radar, better to act on that idea now, rather than later when prices are bound to go up.
And just think – wouldn’t it be wonderful to pack up the family and take them to Florida over the holidays? To explore our Florida properties in more detail, visit www.baker-re.com, or call us at 416-923-4621 in Toronto, or in Florida 561-447-4007 or toll free 855-BAKER11.