Who will push Orlando out of Recession?

Published 19 March 09 07:24 AM | Lee Rosa 

Calling expired listings daily allows my business to take an inside track on the in's and out's of our Central Florida Real Estate Market.  A few days ago, I read an article that mirrored my notes from calling:

A drop in driver's license applications from out-of-state residents show the pain out of state buyers feel from the implosion of our Marketplace.
The Associated Press noted the number of applications from outsiders has tumbled 30 percent during the past five years — dropping from more than 585,000 in 2003 to about 410,000 in 2008.

New Yorkers, who in my opinion have been affected the most from the SHIFT in the Market, have snubbed Florida in the largest numbers.  Declining at almost 50 percent.

With all the positive features Orlando has these are the Major Reasons Out of State Buyers are staying away:

1.  The recession.
2.  Housing Market (WHICH IS REBOUNDING)
3.  Hurricanes
4.  High insurance costs
5.  Battered retirement funds.
6.  The not talked about "9-11 Effect".

The 9-11 Effect is:  Immediately after the Attacks Many New Yorkers hopped off the fence and migrated to the Sunshine State, in part starting the feeding frenzy that we called "The hottest Sellers Market in History".  Since then Insurance Rates have risen and Property Values have fallen, many have walked away...

Who will help Central Florida Real Estate as Orlando is poised to be the first City to rebound in the State of Florida?

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