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Loriann M. Harrison's Blog

By Loriann M. Harrison | Agent in Pembroke Pines, FL

Real Estate is the Number One Product in Florida

LMH Luxury Real Estate

Contact:  Loriann Harrison

Phone:  954.237.0713

Fax:  305.851.4077

Email:  Loriann@LMHLuxuryGroup.com

Website:  www.LMHLuxuryGroup.com

June 15, 2012

Real Estate is the Number One Product in Florida

Luxury real estate in Broward County, Florida may not be where it once was, but it is still stimulating the local economy more than any other product.

According to a report on the state gross domestic product that was recently released by the Legislature’s Office of Economic and Demographic Research, real estate is Florida’s biggest private industry.  Florida’s total GDP (Gross Domestic Product) rose by 0.77 percent per year from 2006 through 2011 to $754.3 billion in current dollars. 

The private sector grew by only 0.1 percent a year over the five-year period.  However, while the private sector slowed down, real estate accounted for 15.6 percent of Florida’s total economy in 2011.

To compare and contrast, the table below contains a list of Florida’s Top 6 Gross Domestic Products and their performances:

Industry

% Total in 2006

% Total in 2011

2011 Value in Millions

Real Estate, Rental, and Leasing

16.8%

15.6%

$117,383

Government

10.5%

12.9%

$97,307

Health Care and Social Assistance

7.1%

8.8%

$66,254

Retail Trade

8.0%

7.7%

$58,199

Professional, Scientific, and Technical Services

7.0%

7.2%

$54,672

Finance and Insurance

6.7%

7.0%

$54,947

 

If you would like a complimentary and confidential consultation regarding the market value of a luxury home, contact Loriann Harrison. 

Loriann M. Harrison is a full-time real estate Broker-Associate, a multi-million dollar producer, a Certified Luxury Home Marketing Specialist (CLHMS), and member of the Institute for Luxury Home Marketing, a real estate trainer and a resident of SW Broward County Florida.  She is also an Inventory and Marketing Specialist and Certified Distressed Property Expert, (CDPE) specializing in assisting clients in selling distressed properties as Short sales.

Loriann has been practicing real estate since 1998, first in Long Island, NY, and now in Florida since 2004. She and her husband have been successful real estate investors since 1995 and manage a multi-million dollar portfolio.  Her no nonsense approach to analysis and research, and her commitment to excellence have made her a favorite among sellers looking for exceptional results and service in the South Florida Luxury Market Place.

Certified Luxury Home Marketing Specialist

About the CLHMS Designation


Recognized as the mark of accomplishment in luxury markets around the world, the Certified Luxury Home Marketing Specialist (CLHMS) designation assures affluent buyers and sellers that the agents who have earned it have the knowledge, experience, competence, and confidence they require.

Members of The Institute who hold the CLHMS designation have documented performance in the TOP 10% of their markets, and have successfully demonstrated their expertise in the luxury home and estate market.



Be sure to follow Loriann Harrison online:

Keller Williams Luxury Homes

LMH Luxury Group on Facebook

Florida Realty Now on Facebook

LMH Real Estate on Twitter

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