The
real estate in
Florida is some of the most prime real estate in the country. Florida's beautiful beaches, diverse culture, great restaurants, and award-winning, champion golf courses make it truly one of the most desirable areas in the country to own real estate. However, the real estate market in Florida has been on a downward spiral for the past year due to mortgage fraud, over-speculating, and over-building. Although prices are still down compared to two years ago, the market is starting to recover slowly with price drops flattening out the last couple months in many areas. Inventory is slowing down, while sales are improving.
So, it is a great time to buy real estate in Florida while it is affordable. There are many opportunities for investors to purchase reduced-price real estate in Florida, especially in the Miami area. Developers are giving deep discount and incentives. Many developers were left with unsold units when buyers started defaulting last year because of declining prices in the market area. So there are many short-sale and foreclosure properties available.
Another area of real estate that investors should consider are vacation and retirement properties. Florida attracts many retirees and families that vacation there, as well as "snowbirds" from the colder climates. Florida will always be a popular vacation and retirement destination, especially with the baby boomers that are starting to retire in the area. With the many choices of retirement, gated, golf and tennis communities, and luxury oceanfront properties, Florida real estate offers it all. Investors should consider buying vacation and recreation properties as well as retirement properties.
A number of employers are also relocating to Florida including the health industries and technology sectors, creating more jobs and needs for housing.
Florida's commercial experts say the industrial sector is expected to lead the state in economic recovery. Jacksonville industrial properties, for example, are a fast-growing market. So many developers from other area of the country have been looking to buy land there. Industrial land values have increased and rents are going up as well. It is beginning to get tough to find affordable industrial land. Now is a good time to buy.
There has also been a new wave of investment at the Port of Jacksonville (Jaxport). Tokyo-based Mitsui O.S.K. Lines, Ltd. is building a 158-acre facility that will double the port's container traffic once it is completed in 2009. South Korea's Hanjin Shipping Company, Ltd. also recently committed to building its own $360 million terminal at Jaxport, which is due to open in 2011. With the new Asian carriers establishing terminals at Jaxport, there is a large amount of industrial activity that's underway. Florida's c
ommercial market is still good and is expected to grow. In the next year, Florida's main commercial markets—industrial, office, retail, and hospitality will out-perform the residential sector.
Sources:
http://www.floridarealtors.org/FLRealtorMagazine/2008/May/CommercialHotSpots.cfm
http://www.mosaicco.com/ 
