America’s Money is Heading South
Wilmington, NC (Vocus) June 24, 2010
According to a Forbes.com article by Jon Bruner, “America’s Money is Heading South,” of the top 5 counties listed, based on IRS data, 3 are in Florida. Number 1 on the list is Collier County, with Nassau County (3rd) and Walton County, FL (5th) respectively.
Why is Florida gaining steam in this real estate market? Dave Robertson, President, RPI Media, Inc., whose company has been putting on consumer real estate shows for over 20 years, said it’s simple economics.
“People are rediscovering Florida”, Robertson said. “Improved winter weather, lower taxes and outstanding values are abundant”. “Many people don’t realize until they begin their retirement or second home search, that Florida has no state income tax. Couple that with homes as much as 50% below where they were, it is clear that now is a prime time to buy.”
As people from colder regions, like the northeast face increased taxes, (like the exit tax and proposed millionaire income surcharge before the NJ legislature), they are deciding to move now, it’s all about timing.
“2009 was when many people were on the sidelines and waiting for the market to find its bottom”, says Barry Weissman and Jim Parish, Realtors in Naples, FL (Collier County #1 on Forbes’ list). “Now is a great time to make an offer as the prime selling season ended in May”.
Weissman and Parish know that the peak “buying season” in Florida is the winter months when people are fed up with shoveling snow and dealing with congestion. That’s when most retirement and second homes sales occur in Florida. Now that the season has ended, buyers with the means should be able to find exactly what they are looking for at considerable values.
Robertson, who recently relocated to Southwest Florida to direct RPI Media’s interests’ in that market can testify to what’s happening, “In the 2 months I have been here, I have seen a tremendous increase in activity based on last year at this time and it keeps getting better.”
Ideal Living Magazine is the leading provider of information for people seeking second home, resort and retirement communities in the southeastern United States through publications, real estate shows, and websites. Under its parent, RPI Media, Inc, Ideal Living connects communities with prospective buyers and provides comprehensive resources for finding and comparing; golf, gated, waterfront, mountain, retirement, condominium and multi-family communities, through: press releases, direct mail, e-mail and monthly newsletters.