There quite a few properties in the market,should you be concerned? What is your concern? That you would now be able to turn a profit? I would suggest a little research into what types of properties are being rented and wht they are renting for. This way you can make an informed decision on what type of property to buy and for how much ( due Diligence.). Davenport is a Haven for such properties.
Perhaps this link can get you started.
They are everywhere .
he good is that your pound is worth two times our dollar and the prices of our properties are low.
When our prices decide to rise say in the next two years and the pound goes down, you have a very nice equity situation.
So now is the time to buy but buyer beware.
You need to pick a vacation property that has a steady management company in place to help rent out the unit and give you the income you will need.
The best of all situations is to find a builder who actually manages their own property.
They have vested interest in making the project work.
Feel free to contact me and I can tell you about one location I know of that is owner operated and is priced right with all the bells and whistles.
They even give your unit it's own web site so you can asssist in bringing in clients to your unit .
Good vacation properties will bring in large tour groups as well as smaller stay clients to fill the units.
Hope this helps.
Have an outstanding day
There are a lot of vacation home properties in the Davenport / Kissimmee area that "vacation home properties". While your concern is valid, there are many properties in this area where investors are doing just fine with their investment. The current market is allowing investors to buy these vacation homes at prices that allow them to cover their expenses.
Most vacation owners us a management company to manage the property and book renters. To help increase the number of bookings it is recommended that you also help in the process by telling friends, family, co-workers, post in a local news paper, create a website to market yourself.
Location is going to be very important as well. Homes within a 5-15 minute range of Walt Disney World will typically get more rental weeks per year and at a higher weekly rate. Communities in this area can vary from basic features to gated communities with club houses.
The size of the house needs to be considered. A 3 bedroom my only fit a family of 6 but a 4 bedroom may fit 2 families of 10. A pool is without a doubt a requirement. Some homes use the garage as a game room which attracts families with children. Keep in mind that not every day is spent at the Theme Parks.
Management companies also vary in services and fees. It is recommended that you look at several before you decide on one. Often the home that you purchase will have a company in place and it may be beneficial to use them as they may have booking in place.
If you would like further information about vacation homes in the Davenport / Kissimmee area, I can send you more information on properties or communities surrounding Disney. You can also visit http://www.thefloridalivingteam.com and see a map of these areas and the properties for sale around there.
Real Estate Specialist
The Florida Living Team
Keller Williams Realty
020 3239 7286 london
Home prices are very reasonable here and yes, you can rent most of the properties short term (weekly). If you need more information, let me know!
One simple answer.
BE BUY THE CASINOS - within 5 Miles
I have vacation rentals on the water within 3 miles from the casinos and at 95% occupancy. Cash flowing over 600mthly. Starting at 109K - Simply incredible. Time to buy is now with the pound at record high against USD!!
As such, there is a constant flow of tourists who become natives from all over the world, with many selling their Florida or Chicago 2nd homes for a place in the Quarter...relatively inexpensive by NY standards, rentable, in a place with festivals year round. Since there never was much of a subprime market here, this has not affected this part of the market here.
It really depends on where you want to be. On the coast or around the Disney area.
This is your investment property. Do not just leave it in the hands on the management company to keep your home booked. Who wants to let out your home more than you do? Plus, you make more money on your booking rather than the management company taking a larger cut for them booking it.
Be proactive, start with a small website that shows your availablity calendar.
Make up a few business cards with your website and contact information on them.
You have to treat it as a business even though it is your Holiday home.
If you have any questions at all, please feel free to contact me at any time. (just not 5am ^_^)
I have had that concern myself. I live in one of the first mixed use developments near Disney for 16 years. Homes around me continue to rent for a week at a time on a regular basis. In the last few years many new developments design with short term rental purpose exclusively have opened up. Some WAY overpriced, but still selling. The short term market is live and strong always around DISNEY, and will continue to be.
I just got a contract signed a few hours ago, my buyer is getting a 4 bedroom, 2 bath with pool in HWY 27, Davenport for 197,500.... they were asking 219,000..... and in 2006 that exact home was selling for $290,000. After calling several management companies (and finding a good one is very important) seems the AVERAGE house rents about 20 weeks a year. Mortgage should be covered by renters. And that does not include the big plus, Appreciation after this slump will be great.
Plus right now... "Homes are on Sale! and Financing is on Sale!, why wait?" It all boils down to... work with someone willing to spent the time sitting with you and doing the research to find you the best deal.
In Florida, the Tampa Bay Area, we have a lot of "snow birds", who come down for the winter and rent. These are usually rent from after Thanksgiving, the end of November through to March. They want to escape the chilly conditions of the northern states of the U.S.A.
We also see vacationers in the summer who want to rent beach properties. This is really a great time to buy since prices are low. Feel free to contact me if you are interested in purchasing or would like some more information.