2011 Outlook For Florida Markets- Real Estate and Economy!

 

2011 Outlook For Florida Markets- Real Estate and the Economy

While there is still some negative news there is much to be upbeat and optimistic about in Florida. 

Florida still ranks as the top state in Foreclosure filings and projections of the housing prices to continue to decline at least another 5% over this year. The market is struggling to find the bottom even after most mortgages in the state are over 50% under water. 

But there is a silver lining. Once it hits bottom, that will be the bottom and we all know what goes up must come down and visa versa. 

The biggest positive for Florida is well, that this is Tropical Florida. 

When people are sick and tired of shoveling snow- yep- they think about us laying on a beach somewhere soaking the sun up in the Sunshine State. There is a reason we are called the Sunshine State. 

Snowbirds- the ones that migrate here in their cars from the northern states bring money with them to buy second homes and retirement homes with cash. Not only that- the first set of Baby Boomers turned 62 this month and they are welcome here in Florida.

About 60% of our market are ALL CASH closings. That is nothing to sneeze at! The prices are down which means more people can afford to buy a home. 

The Ying and Yang of the universe is in action at all times. 

One person's misfortune is another person's opportunity and so on and on it goes. Such is life. People are losing their homes to a short sale or a foreclosure and in the same moment of loss is a family or a young couple or a young or older single excited to find their new starter home or dream home. 

The next best thing in Florida after the sunshine and warm weather is that we have NO STATE INCOME TAX! 

So Florida is looking pretty good for those who are being taxed beyond their worst nightmares in New York and New Jersey. 

• Come on down, we say! 
• No Tax on Food! 
• No State income Tax! 
• Homestead Exemptions! 
• Agriculture Exemptions! 
• Asset Protection State! 

Our new governor Scott is already cleaning up the waste on the state level. He is already planning to shut down the Office of Drug Control- good move BTW- and has been passing out the pink slips to non productive heads of departments. He is going to run the state like a business. If the department is not productive you are out of there!  That is not going to be popular but he did not run on popularity but on cutting waste and getting Floridians back to work.

This is the first time he has ever held public office and he is not taking a penny in Salary for the office. He says he is rich enough to not take state money for this position and he is looking for business men and women to accept positions in the same manner who know how to run a business. Because running a state government should be like running a business. 

He is talking about getting rid of the corporation tax which is a good thing because we are losing good companies to Tennessee where they have a more friendly business start up environment. He is going to largely expand the school voucher program and we of course, certainly agree with that. 

Some of the other programs he is looking at is closing down the Department of Community Affairs, making state employees contribute to their pension plans and make unemployed people do community service after 3 months without a job if they are receiving unemployment benefits. 

Whatever he can do to create jobs and cut waste is his number one priority. Florida suffers from higher than average unemployment and we need companies to move to Florida to hire our people here. People call him Jeb Bush on Steroids! He does not owe any lobbyists and he does not owe any favors. He used millions upon millions of dollars to a tune of about $70 million  of his own money to run his campaign. The GOP did not like him and did not support him and when he defeated their guy, they were even less happy with him. Hopefully everyone can put their sore loser attitudes aside and help the new Governor get things done in the Sunshine State to benefit all the citizens of this great state. 

With the defeat of Amendment 4 comes some new reasons to believe that Florida is a state friendly to small businesses to mid and large businesses. There are programs under way to entice companies to move to Florida. 

So there is more sunshine on the horizon and we welcome you to the Sunshine State with Fabulous Beaches! 

Stop Foreclosure- Learn Your Options. Maybe a short sale is your best option.Florida Foreclosure Options- may be able to help you.

If you are considering the option of short selling your Wellington Fl home in Palm Beach County, Broward County, St Lucie County, Martin County or Miami/Dade County- call us today at 561-753-0135 for a confidential intake evaluation in order to estimate the possible outcomes of your short sale.

   

 

 

To  view Wellington Florida short sales  Click here. We know  Wellington Florida Real Estate and Wellington Fl Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today.

 

   

 

 

        

 

 

Copyright © By Katerina Gasset 2011*2011 Outlook For Florida Markets- Real Estate and Economy*