Real Estate and Property

Located offshore of the city of Sarasota and only a relaxing and short drive over the connecting North Bridge lies a wonderful, pristine eight-mile-long sub-tropical barrier island called Siesta Key. This resplendent area is an island that is settled in the cool, clear waters of the Gulf of Mexico, and is seen as a place one would imagine a perfect vacation destination would be, or even better, the perfect place to live and enjoy living all year-round.

The Beaches Are Just A Short Stroll From Modern Amenities
Residents and tourists here enjoy taking a barefoot stroll along the powdery white beach, a refreshing swim in the calm aqua waters of the Gulf, or a visit to either of the Key’s two main shopping centers, where buyers can find wonderful items ranging from fashion accessories, souvenir T-shirts, paintings and other art work, and also enjoy an evening of fine dining, relax at a nice an cozy *censored*tail lounge, and probably think of settling here for good.

The area’s real estate options offer investors a wide variety of housing choices, from luxury and upscale hi-rise condominiums that offer wonderful views of the Gulf of Mexico, to lavish waterfront estates set in a wonderful tropical surrounding, to more modest but lovely and cozy bungalows.

The area’s rise to fame has risen so fast that in only a few years, the island has become a wonderful haven for the elegant, opulent and tastefully-designed housing options, that range from waterfront estates, town homes, apartments and condominiums.

Residents Here Have Access To Wonderful Facilities And Amenities
The key’s residents and tourists are afforded complete and easy access to the area’s marinas, which offer boat rentals, charter fishing trips and guided water tours, as well as other watersports activities. In this locale, the residential developments here have facilities for docking boats and other pleasure craft.

Prospective home buyers in Siesta Key can choose from buying simple one-bedroom condos or standard bungalow and single-family units, to opulently designed waterfront properties, the prices may vary, but most home developments here start from $300,000 and go up to a million dollars or more. However, there are home developments that are available to suit every lifestyle and budget. Most of the beach front in this area is now lined up with condos.

In a recent study done by the University of Florida, it was noted that almost one in four individuals aged 55 and older who moved full-time to the Sunshine State between 2000 and 2003 started out as people taking a breather from harsh winter conditions in other areas. In addition, 30 percent of current winter vacation tourists have noted that it was likely or very likely, they would move to Florida year-round at some point.

The study also added that Florida led the country in the number of winter residents, with about 818,000 tourists in 2005, followed by Texas and Arizona. The winter residents also contribute billions of dollars to the local economy. However, with spiraling property taxes and the threat of hurricanes, Florida now faces stiff competition from other states that are starting to become attractive to retirees and young families, such as Georgia and the Carolinas.

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The city of Ocala prides itself with being in the crossroads of Florida. The city is known for its lush rolling green fields, and the large concentration of equine horse arms, which gives it the title of being the “Thoroughbred Capital of The world.” Aside from having a lush green natural setting, the area is also famous for offering residents and newcomers a healthy array of real estate choices to choose from, ranging from affordable bungalows, single-family homes, apartments, town homes, condos and even sprawling estates. The city as well as Marion County also offers residents and visitors many outdoor recreational activities and amenities, with its wide array of parks and recreational facilities.

The County Has A Large Number of Parks And Recreational Centers

Marion County’s parks and recreation system has around 45 facilities to offer tourists and outdoor enthusiasts, ranging from boat ramps to softball fields, beaches, nature and conservation areas and even dog parks.

Some of the county’s recreational facilities offer free entrance, while some charge a small entrance fee, and many offer annual passes. The Rainbow Springs State Park in Dunnellon has the state’s fourth largest spring, and is headwaters are popular destinations for canoing, swimming, snorkeling and kayaking on the Rainbow River.

Is It A Buyer’s Market Here Today?

According to real estate industry observers, the median price of homes for the second quarter of 2007 was pegged at $170,900, and this represents a slight increase from the recorded price of $169,500 for the same period last year. The National Association of Realtors also noted a U.S. median home price of $223,800 for the second quarter of 2007, as compared to $227,100 for he same period last year.

For the state of Florida, the median price for the period was $221,200, which was down from $243,300 for the same period last year. According to some local property observers, the area’s housing market is still being relatively seen as a buyers market. Sales are off quite a lot when compared to the figures in March 2006, when 614 homes were sold.

There is still a a glut of newly-completed but vacant homes, as these were bought by investors who intended to flip them but have now been caught with houses they can’t sell. According to industry watchers there are around 6,869 homes listed on the Ocala Marion County MLS as of the last quarter of 2007. Homes here that are selling, are at present priced and in the mid to lower price range, and well-priced residences are selling close to their asking prices.

So would this be a great time to buy a home here? Some say yes, while some say that it’s still too cautious to say yes. It would all depend on you to decide, however be on the lookout for some excellent and wonderful deals out there, since at the moment, interest rates are near historical lows.

Currently, the median price for homes in his city and county are already the 2nd lowest in Florida, therefore there’s tremendous potential for home value appreciation over the next several years.

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Everyone would be a millionaire if real estate investing were 100% risk free. No one would have any reason not to invest. Only those real estate investors who are not afraid to face risks and know how to deal with them will be successful in real estate investing. If you want this to be you, take a little time to learn the risks involved with investing in real estate.

Potential for Negative Cash Flow:Â Like many other investments, real estate has the potential to create losses. Whenever you complete a deal with less money than you started with, you’ve created negative cash flow. And too much negative cash flow can leave you broke.

So it’s very important that you know how to find and analyze a good real estate investment. If this is a skill you are working on, you can reduce your risk and save some time by using the services of a real estate investment firm.

Availability of Funds:Â One of the primary barriers of investing in real estate is the lack of funding. Even though you can invest in real estate without using your own money, you still need to have money from somewhere. There are many creative ways of getting other people’s money (OPM) to complete a transaction, and many good books have been written on the subject. One of the latest incarnations of OPM has been the use of corporate credit.

Time Constraints:Â Some types of investments require more time than others, for example distressed and rehab properties. Other types of investments require you to be available during business hours. If your regular job demands most of your time, you might find it difficult to make time to invest in real estate. Understand the time involved with the various types of real estate investments so you can plan your schedule around your investing.

Need for an Exit Strategy:Â Before you go into a deal, you need to have a feasible plan for getting rid of your investment property. Note the word “feasible.” Your exit strategy has to be logical and doable; otherwise, it’s not a very good exit strategy. Your plan may be to fix-and-flip the property right away, or it may be to lease-and-hold for 10 years.

Be sure to invest with a clear and specific exit strategy in mind. And always have a contingency plan in place in case situations come up that are out of your control.

Real estate investing, like any other form of investing, has some potential risks. On the positive side, these risks are associated with the potential for high returns. But with proper planning and ongoing education you will be successful as a real estate investor.

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