Hello Sukhvinder,

I work in the quaint town of Dunnellon, Fl. We are located about an hour and a half from Orlando just 20 minutes from the Gulf of Mexico. We have two beautiful rivers in town, filled with wildlife. We are 20 minutes from Crystal River, where Manatees come to play in the winter months. We are also only 20 minutes from Ocala the Horse capital of the world. This area has a lot to offer with out the hustle and bustle of the big city.

One of the best parts about this area is the Real Estate Market. Housing prices have dropped 34% over the last year, making an ideal time to buy in this area. We have plenty of 3 bedroom, 2 bath homes built within the last two years below $150,000. I would be happy to send you some information on some of them.

Taxes on a home with a market value of $150,000 would run about $2500 per year. Insurance would depend on the condition of the home of course, but generally in this area your looking anywhere between $900-$1800 per year. Our state legislature is currently working hard to improve tax regulations for out of state investors and second home buyers. There is a bill scheduled to be on the ballot this November that would put a maximum tax increase of 3% for out of state investors, like yourself. If you were to live in the home full time when you retire, your taxes would be considerably lower, due to the current tax breaks that home owners currently enjoy.

Please feel free to contact me if you would like information on the area and some available houses. My email address is jfrasier74@aol.com or I can be reached at 352-497-4130. I look foward to hearing from. Have a great day!

Jim Frasier
Coldwell Banker Riverland Realty

Thu Jun 5 2008, 09:20

Hi, I work with International Buyers everyday just like you who are looking for the best price for a home in Florida. I am in the Naples, Florida area and we are selling homes at 50 cents on the dollar. Your homeowners insurance would be paid for the year, so even thought it is vacant it still is insured. Taxes again are paid yearly and would also be applied the same way. Renting your property while you are gone is what most individuals do to get the most out of their investment. If I may help you to answer any other questions, please feel free to contact me via email or call me at 239-298-0600. Mary

Thu Jun 5 2008, 08:06

Sukhvinder,

As I'm sure you are aware, there are many, many real estate opportunities in Florida at thie time and the best part, is many sellers are truly motivated. This spell OPPORTUNITY for today's buyers.

The reality is in the current market you will find many options that meet your criteria. We would like to recommend your very first priority to be identifying a more specific location before focusing on the actual home. The best way to accomplish this is to plan a visit for the specific purpose of finding a location. With this achieved, it will be a simpler task to find your perfect home. Location first...home second.

We would be very happy to provide property samples in your targeted locations that might assist you in gaining a better understanding for these communities.

Please let us know if we can assist you further.

Our best regards,
The "Eckler Team"
Century 21 Almar and Associates
ecklerteam@comcast.net

Sat May 17 2008, 18:10

Dear Sukhvinder: My firm specializes in assisting international real estate investors such as yourself with your real estate pursuits here in Florida. I have especially prepared a link of brand new or very new properties that you can review to get an idea of what you can purchase for approximate 75k pounds. Regarding your property taxes question, the property owner always has to pay annual property taxes on real property here in the state of Florida...even if the home is vacant. Please feel free to contact us directly with any other questions, comments and/or concerns that you may have.

http://www.brevardmls.com/brv/maildoc/b005BT6383.html

Best,
Mark Palace, CEO/Founder
Palace Properties International, Inc.
www.PalacePropertiesOnline.com
321.773.5611
321.704.9305


About Us
Our mission is to provide the best service possible to our customers and clients and to be ever mindful of your needs. We achieve true success only by placing you first.
Palace Properties International is a member of the Chamber of Commerce, Melbourne Area Association of Realtors, Florida Association of Realtors, National Association of Realtors, World Properties, Home Builders and Contractors Association of Brevard (HBCA), Florida Home Builders Association (FHBA) as well as the National Association of Home Builders (NAHB).
Whether you want to invest in California, Virginia, the Carolinas, Florida or elsewhere, we look forward to working with and for you, your family and your friends regarding your and their real estate pursuits. We take advantage of our elite and prestigious professional real estate network of top producing, pre-qualified Realtors that specialize in their respective geographical areas.
Company history
With a rich and diverse international background, the staff at Palace Properties International speaks nine languages, has lived and traveled in over 20 countries and possess multiple advanced postgraduate academic university degrees. Kelly and Mark Palace own the firm along with several other thriving businesses in central Florida.

Local Area Information
Come visit one of America's best kept secrets and you will truly fall in love with our subtropical paradise!


Just 35 miles east of Orlando, Brevard County prides itself as the home of Kennedy Space Center, the only facility in the world that launches the Space Shuttle; Port Canaveral, the second-busiest cruise port in the world; 72 miles of beautiful Atlantic Ocean beaches; and the largest collection of endangered wildlife and plants in the continental United States. With its tropical weather, cultural activities, educational opportunities, active and passive recreation options, high-technology industries, and family-friendly atmosphere, the Space Coast offers an exceptional quality of life that residents and visitors enjoy year-round. Nearly 500,000 people call its 15 municipalities and unincorporated areas "home."

Tucked in among the other beach communities of Brevard County, Indian Harbour Beach sits on two square miles of land between the Atlantic to the east and the still waters of the Indian River Lagoon to the west. Beachfront parks are a great place for a picnic (most have running water to wash off the sand before you replace your flip-flops) and Gleason Park offers 27 acres surrounding a beautiful lake, with exercise trails, lit by Victorian lights in the early evening. Tennis is available on city courts and baseball and soccer fields are available at the city’s million-dollar sports complex.

Mark, you truly are the Somerset Oceanfront Specialist. I really appreciate the way you have worked with me as an owner of two units. I know listing with you is the right choice as you are well connected both in the local community and to the international buyers. Each time I talk to you, it seems you have my best interest in mind. Thank you!” S. Veal, MD 03/22/08
- Dr. Steven Veal, Medical Doctor and Real Estate Investor 3/23/08

I met Mark Palace at the Curves Vibrant Womens Conference and decided to have Palace Properties help me find a place to rent or buy. He had a place within an hour and I could see it that evening after work. Mark works hard for his clients and always kept in contact with me by e-mails and phone calls when I needed to talk to him. Never had to wait long for a call back. He is very professional, courteous and respectful. There are some realtors out there that should take lessons from Mark Palace, Palace Properties.
- Patricia Kane, BRPH Architects/Engineers, Inc 7/24/07

Sat May 17 2008, 15:23

Hi Sukhvinder

Your question is dependant on one simple factor. Will you personally be looking to use the property for holidays or other use before you retire? If (as it appears) you do wish to use it, then you will find that you have only one realistic option and that is to purchase in the Kissimmee area near the attractions. This is because no other area offers the year round short-term rental potential. However, if you are not going to use the property then there are many other possibilities because you can rent your property on an annual basis.

The total carrying costs will vary, even from community to community within the same areas. Real estate taxes, insurance, Home Owners Association and management expenses are the main costs you will encounter. But, for a well located and equipped villa that has the correct rental exposure and has little or no mortgage, there is no reason why you should not break-even or better.

There are a number of foreclosure or bank-owned properties that would fill your requirements that are on the market at the moment. Many of these come fully furnished and equipped, even to the point of having their own websites and some rental bookings which would be passed across to you. Of course, the job is finding them!

We are an international company with offices in the US, UK and Russia. You will find a detailed spreadsheet illustrating the various income and expenditure items on the following page of our website: www.orlandorealestate-li.com/ Just click on 'ORLANDO VILLA RUNNING COSTS'

This will give you the breakdown you are looking for. The figures apply to a specific property, but we can supply you with an analysis for any property you select.

We have access to a great range of properties in the Orlando area. You will find our contact details on our main website. www.life-intl.com . Our UK number is 0845 226 0390.

Anything we can do to help, please contact us.

Best of luck.

Geoff Berry

Sat May 17 2008, 14:10

If you wanted to buy investment property that you could rent when you are not here, the best option would be to hire a property management company to oversee the property. They take care of all of the maintenance, rental reservations, accounting, etc. To get a good look at what rental property can produce, the best source is VRBO.com! You can search this site for any location and see what rentals run when rented directly by the owner. Renting by owner is time consuming and can be a little difficult--I've been involved with it. Destin and the surrounding area is beautiful--a little more costly than Panama City Beach, but I think the Destin Gulf Coast has the most to offer. (of course, I'm partial!). Go tohttp:// www.destin-fwb.com to have a look at the area. There are many UK citizens that buy property in this area. I would be happy to send you more information. You can contact me through this site or by going to my website. Happy condo hunting!!

Sat May 17 2008, 13:32

You must maintain the property (taxes, insurance and repairs) even when you are not in residence. There is no waiver because the property is vacant. Renting the property to assist with monthly cash flow is your best solution to offset those costs. It appears you have approximately $148,000US since you want to pay cash and that will purchase a 2-bedroom condo or villa here in PCB. Please CLICK HERE to view some examples of properties for sale in this price range: http://panamacitymls.net/BayReports/listings.asp?ID=8636079786

Panama City Beach in Northwest Florida is a very popular vacation and second home spot. We offer beautiful white sand beaches directly on the Gulf of Mexico. With our new international airport scheduled to open in 2010, travel to the area will become direct and more affordable.

There are exciting new developments that will change the landscape of this region forever - there will be something for everyone form the new Oceanside Pier Park entertainment center to Wild Kingdom Animal Park to fishing at the new Pier and boardwalk! And, much more is on the horizon….

We are currently experiencing a very strong buyers market so the dollar (and more so the euro) goes a long way towards wealth building investments. PCB offers Gulf-front condos and townhomes, beach cottages, detached single-family homes, golf communities and retirement neighborhoods. We have a lot to offer!

CLICK the link below to read and learn about Panama City Beach, Florida, USA.

Search all properties that are for sale in PCB and surrounding areas here: http://www.coastal-lifestyles.com

Please let me know how Keller Williams Success Realty and I can be of further assistance.

Kirsten McAndrew, Realtor
Keller Williams Success Realty
Panama City Beach, Florida 32413
(850)819-3806
kmcandrew@kw.com

Sat May 17 2008, 11:13