U.K. Buyers put Vacation Home purchases on hold

U.K. Buyers Put Second Home Purchases On Hold

It’s no surprise that the current market conditions have affected everyone around the globe but what impact has it had on the U.K. Buyers here in the Orlando real estate market? The latest trends show that the slower global economies and devaluation of the British pound given a one –two punch to U.K. home buyers looking for real estate outside the U.K.

 

While the news looks grim, there is a bright spot for everyone looking to purchase homes here in Orlando. Home buyers must first come to grips with the fact that the housing market here in Central Florida is at or near bottom. Home prices for foreclosures and short sale homes are priced at unbelievable sale prices. The Central Florida economy is strong and vibrant and future growth is very positive. And possibly the best reason to purchase real estate here in Orlando is that owning real property is and will continue to be one of the safest investments to own.

 

The smart investor is out purchasing in the current market.  We may never see home prices at this level again and the current activity shows this. September and October sales for 2008 have show both a 77% and 47% increase in sales over 2007 for Orlando area real estate. These are encouraging numbers that show Realtors that investors are out in the market and that they are purchasing homes.

 

So before you decide to put your vacation home purchase on hold, make sure the decision is a financial decision and not one of emotion. You might just find that by delaying your home purchase, you missed out of a wonderful opportunity to get in the real estate market at the best possible time.