We rested in Florida Panhandle, Walton County, in particular, for twenty years - and we love it! World class beaches - reasonable prices - great restaurants - awesome beach houses for rent! Therefore, we are delighted with the locale, but what about the economic realities of buying property in Florida - at the moment?
Florida panhandle has a vibrant and sustainable tourism business with minimal employment. The new Panama City International Airport, which is scheduled to open in the first quarter of 2010, will make the region accessible from virtually anywhere in the country and Europe. It is expected that the airport will become the main stimulus for the economy of the region and should increase the demand for real estate.
We believe that the Florida panhandle is a safe place to invest in real estate, and that the value of real estate, although flat now (January 2008), is likely to increase dramatically, especially for holiday homes on the coast and the Persian Gulf. But this is our opinion! Here are a few other opinions on this area.
CNN Money.com ( February 12, 2007) chose Panama City, Fla., As No. 1, to invest in real estate in the United States.
American express says the Florida panhandle is one of the best places to stay in the USA. The Florida panhandle ranks second behind the Orlando area in Florida tourism. The beaches of the Emerald Coast are world-class, annually attracting more than seven million tourists - more than any other rest areas on the east coast.
Realtors in Walton County acknowledge that prices are lower than peak 2005. But they are looking at 2008, when sales are growing up, as more objects appear on the market. Many homes are priced less than building costs. “If you are looking for a property that needs to be held for the next five years, time to buy today. We are still very undervalued compared to other areas of Florida. "
St Joe's company (NYSE: JOE), headquartered in Jacksonville, Florida, is the largest landowner in Florida, owning more than 718,000 acres of land for initial development - half of them within ten meters of the coast. For many years he was a major player in the region, starting with a logging company, but in recent years he realized that the value of his land holdings was much greater than the ownership of resorts and development. So now St. Joe is in the property development business, and the main activity is in Walton County.
According to St. Paul Joe Investor Relations, the long-term outlook for real estate in Florida is very strong.
Long-term economic and demographic trends continue to favor Florida, whose economy is radically strong and diverse. It is expected that by 2030, the population of Florida will increase by three quarters (to 28.6 million people). Its population growth rate is regularly set by the population of the rest of the United States: over the past forty years, its annual growth rate exceeded the United States by an average of 100%. By 2010, Florida will transfer New York to become the third most popular state in the country.
The strong, diverse state economy regularly places the United States in value, with a dynamic tourism industry, a plethora of high-tech jobs and a reliable high-tech manufacturing sector. A large military presence with a number of occupied and expanding bases provides stability for the region's economy. In the state of Florida, Walton County has one of the lowest unemployment rates in Florida and the country.
Florida is the commercial center of the Western Hemisphere. Geographical location, as well as economic and political stability put the state in the center of trade and business through the western hemisphere. Sale of houses for pensioners remains reliable, since the state is a favorite place of relocation.
Northwest Florida’s beaches are Florida’s second favorite vacation spot, behind Orlando. The beaches of the Emerald Coast attract more than seven million tourists annually, more than any other stretch of beach in the eastern United States.
Beaches in Florida panhandle were rated as among the most impressive in the country and the world. Beaches in Walton, Bay and the Persian Gulf counties were selected for the number one ranking by Dr. Stephen P. Coicman, an authority on the beach and the author of America’s best beaches.
Northwest Florida enjoys a delightful climate, with mild winters, sunshine and clear days. The Florida panhandle is located in the US climate zone 8, in the same climate zone as resort / residential areas such as Hilton Head (SC), Amelia Island (FL), Kiawa Island (SC) and St. Louis. Simons and Sea Island (GA). The beauty and diversity of the landscape of the state are legendary. Northwest Florida has an excellent geography, culture and cuisine that is very different from Miami or Orlando.
Florida drawing tape attracts about seven million visitors annually. According to a visitor to the Florida, Florida and Department of Tourism, one third of these tourists come from families with incomes of more than $ 75,000, and 16 percent from families with incomes of more than $ 100,000.
The number of luxury holidays in Northwest Florida is growing. At resorts such as Primorye, Rosemary Beach, WaterColor and WaterSound Beach, the front lots were sold for $ 40,000 per linear foot on the beach for prosperous families who chose the Emerald Coast.
It is expected that the new Panama City airport will operate in March 2010. It will be a major international airport, opening a Florida patrol for easy access from the east and west coast to the Midwest, Canada and Europe. Previously, access to the airspace was limited to regional airports.
Economists expect the new airport to become a powerful engine for economic development in the region. Throughout history, airports have a strong reputation for increasing activity in the field of economic development.
The new Panama City Airport will be the first major airport built in the country in almost fifteen years. As a large-scale site for the new airport, it provides new opportunities and tremendous flexibility for enterprises dependent on air travel and logistics infrastructure.
There are strong analogues for the development of this airport in Huntsville, Alabama, Savannah, Georgia, Jacksonville, Navy, Fort Myers, Florida and Northwestern Arkansas. All these airports have stimulated significant development.
State of florida predicts that during its first decade, the new airport will create 8,000 new jobs and will reach 13,000 new jobs upon completion. An important comparison is the construction of a new southwest regional airport in Ft. Myers / Naples in 1983, which had a huge impact on the value of real estate. Since the opening of the airport in 1983, aggregate indicators of residential real estate in the vicinity have increased by an average of eleven percent a year.
Fortune magazine (October 14, 2007) chose St. Joe as one of the Top Ten Shares in 2008, pointing out the long-term potential of the corporation and its development business in Florida. The article says: “When real estate in Florida is really recovering, investors will kick themselves for not recognizing today the price of $ 28 for the largest private landowner St. Joe Co (JOE) - as a rare opportunity. "
In a rapidly changing economic climate, it is important to research and ask questions before choosing an investment. But the truth is that Northwest Florida is a rarity, with an amazing climate and stunningly beautiful, mostly empty beaches. When you sit on pure white sand with your feet in the sparkling clear water of the bay, pelicans and gulls fly overhead, and dolphins travel - you understand that there are many intangible intangible assets. The emerald coast is a special place - and they do not create more beach property!
