Real Estate Matters

Every day newspapers and television headline the problems in the real estate without carefully analyzing the overall bigger picture of how the real estate market is really performing.  According to the National Association of Realtors (NAR), over the past 5 years the average homeowner has seen an increase of 50 percent  in value.  In Florida, statewide median home price has shown an increase of 52.5 percent for November 2002 to November 2007, according to the Florida Association of Realtors (FAR).  NAR projects that home prices will rise about 2 percent next year, and in coming years, average price appreciation should return to historical averages of around 6 percent.  That coupled with the fact that interest rates remain on par with the 1960's, and according the the Department of Labor, unemployment rate remains at 4%. 

Some other encouraging facts from Enterprise Florida reminds us that Florida has one of the nations strongest tourism industries, is 4th in the nation's high tech jobs, is the 3rd largest exporter of high-tech goods and services and is ranked as one of the best states in the nation to be an entrepreneur.  Yes, we do have challenges in the real estate market, but there are clear signs for optimism in the future.

International buyers can really benefit from the weaker US dollar, now approaching 1.60, multiplying their purchase power substantially.  International buyers also appreciate the relatively low costs of Florida property compared with similar homes in their home countries.  According to the 2007 NAR "Profile of International Home Buying Activity Study", Florida accounted for 26 percent of all international purchases.  Their is an enormous opportunity to showcase Sarasota's lifestyle and real estate possibilities here and is the main reason why we at Suncoast International Realty are participating the SIMA 08 Madrid Real Estate Exhibition, April 8th to the 12th in Madrid, Spain.  At the Sarasota Florida Booth we will be marketing our clients' properties as well as showcasing the unique lifestyle of Sarasota, which makes it a world destination and perfect place for a second home.  With 160,000 visitors expected in 100,000 square meters of exhibition area, 800 exhibitors from well over 28 countries and over 25,000 real estate professionals looking for potential investments, SIMA is the bridge between Europe, America, Asia, The Middle East as well as Latin America.  We look forward to using this creative marketing event to introduce and promote Sarasota properties to this vast audience.

Cheers,  Bill