Some Australians looking to profit from the American real estate crash are focusing on one of the hardest hit states: Florida. There are plenty of reasons to buy in the Sunshine State: the consistently warm climate, the many theme parks, the magnificent white beaches and azure seas, a non-stop nightlife, the fascinating Art Deco architecture, and let’s not forget, the key lime pie. And then there’s the property deals.
As the American economy slid into recession and the long-lasting property boom came to an end, Florida saw real estate prices tumble 40 to 60 percent from the market high. The upside to Florida’s tough market conditions is that intrepid Australian buyers have been able to get some great discounts on properties. Favourable exchange rates, the fact that experts are predicting Australian property will remain relatively flat in 2011, and available financing options for non-residents have made many feel like this is the perfect time to invest.
Rachel Barnes, director of Property Women, is one of those adventurous Australians who have jumped on the bandwagon to invest in American real estate, purchasing five properties in the United States during the last year. “Although there are certainly more risks to buying overseas, I love a challenge,” Barnes says. “With the cost of stamp duty and land tax so high in Australia, I’m not surprised that many of us are looking for alternative markets to invest in.”
But has the tide begun to turn in Florida? Some say yes.
“The real estate market, especially well-established markets in all price ranges including luxury homes, second homes, and vacation homes has likely hit bottom and there’s no place to go but up anymore,” says Roger Soderstrom, CEO of Orlando-based Stirling Sotheby’s International Realty. Sidelined home buyers and vacation home buyers from foreign countries may very well power a real estate recovery in Central Florida this year, he added.
However, buying property abroad is a major decision and not one that should be taken lightly. Before you dive in, you’ll want to do your homework and ensure you have all the facts. For those interested in expanding their property portfolio internationally, Property Women is offering an informative and fun event, “USA Investing Information Night” which will be held in three locations: Melbourne on March 21; Sydney on March 22; Brisbane on March 23, 2011; and Adelaide on March 28, 2011. Barnes will share her experience and provide tips about different kinds of investment opportunities, suggestions on where to look and how to find the right properties for cash flow and potential capital growth, as well as how to arrange financing, and property managers.
For potential investors who want a chance to see real estate opportunities firsthand with a team of experts by their side – while sightseeing and having fun at the same time – Property Women is also offering men and women, a tour to Florida in the United States between May 9-13, 2011. Those interested can email [email protected] for more free information.
Property Women not only introduce women to a network of experts, emphasizing the importance of building your team, but also create a forum for women to meet each other, share ideas and inspiration, and support each other through their property investing adventures. It’s all about empowering and inspiring women to take control of their financial futures through smart and savvy property deals. And importantly – having fun every step of the way!
Australians Investing in the USA; Investing in the USA information nights 21/22/23 & 28 March 2011
For media information, interviews with Property Women founders Rachel Barnes or Judith Taylor, or case studies of women whose lives have been transformed by what they’ve learnt through Property Women, please contact: Rachel Barnes on 0415 175 210.
Property Women is dedicated to empowering and inspiring women by giving them the tools and networks to create pathways to success in any property market. There are many ways women can choose to participate in this process of learning through Property Women: through face-to-face workshops and seminars; a year-long “Brilliant Diamonds” program; a series of self-study CD packs; overseas educational trips to a different country each year (in 2011 they’re heading to Florida in the USA); or simply the streams of regular free tips that are emailed to a network of more than 15,000 women across Australia and New Zealand.
Property Women encourages women to have a clear goal about why they are investing and to develop their own unique strategy that serves their desired outcomes in both life and finance. Women are connected with experts in finance, tax, law, renovations, property development, property management, and property improvements and also with like-minded women who share their own personal stories of investing success and what they’ve learnt along the way. The team at Property Women believes if you’re not having fun along the way then there’s no point doing it – and this philosophy is infused into everything they do.
P: 0415 175 210