But if you're moving specifically to find the best place to buy a home, then this information may be of particular interest to you. The real estate world keeps wondering when the U.S. will finally recover from the horrific real estate crash. So far, there appears to be little sign of a recovery. The upside of this is, of course, that it is still a very good time for investing in real estate if you know the right areas. We know when to strike - now. But where?
Fortunately for us, we do not need to play a dangerous guessing game with our nest egg. Deutsche Bank did a study not too long ago and Fortune published the resultant findings of The Best Places in The U.S. to Buy a Home. Predictably, the cities that have the most affordable housing suffered the most severe real estate crashes. And then what inevitably follows is that with the extreme fall in prices, it becomes cheaper to own than rent.
The housing market in Orlando, Florida has been in a slump now for a few years. But the advantage, obviously is that you can benefit from the low interest rates and low prices of buying a home. In a recent Florida Realtors' report, Orlando home prices are cited as having a bigger price decline during the past year than even those in any other of Florida's metro areas. And Orlando's rental price as percentage of mortgage is 137.2%. There are indeed good reasons to invest in real estate in Florida.
Would you believe that there are decent properties to be had for as low as the price of a luxury automobile? This 3 Bed 1 Bath Single Family Home is listed at just $60,000. It is listed as a Short Sale. Built in 1958, the home has 816 square feet of living space and has been recently remodeled. It is located near the University of Cenral FLorida, with local access to major toll roads. The large backyard is fenced and the kitchen features light oak colored wood cabinetry, faux dark granite counter tops,a granite serving counter between the kitchen and family room, with a breakfast nook in the kitchen. A set of french doors opens onto the covered patio that overlooks the open backyard, as well as the covered path to the exterior utility room. Upgrades to the home include 24" marble colored tile throughout the common areas, light colored laminate flooring located in each of the 3 bedrooms, plus a newer roof (2004). In addition to the covered patio outback, there is also a brick paved open patio in the back yard as well. This home could make an excellent starter or investment home.
For more information on real estate deals in Orlando, look at this Relocation Guide to The Orlando Area.