The Florida Panhandle A Terrific Place To Invest In Real Estate
We have vacationed in Northwest Florida, Walton County in particular, for twenty years – and love it! The best, uncrowded beaches in the country – reasonable cost – great restaurants – terrific beach properties to lease! So we are very enthusiastic about the area – but what about the economic realities of investing in Florida — at this time?
Northwest Florida has a vibrant and steady tourist business, with low unemployment. The brand new Panama City International Airport, projected to open in January 2010, will make the area quickly accessible from virtually anywhere in the United States and Europe. It is expected to provide a major boost to the areas economy, and should increase demand for real estate.
We believe the Florida panhandle is a solid place to buy real estate, and that real estate values, though flat right now (January 2008) are likely to move sharply upward, especially for oceanfront and Gulf view properties. But thats our view! Here are some other folks opinions on the area.
CNN Money.com (Feb. 12, 2007) highlighted Panama City, Florida as the #1 place to buy real estate in the United States.
American Express says that the Florida panhandle is one of its Top Ten tourist destinations in the United States. The Florida panhandle is second only to the Orlando area in Florida tourism. Northwest Florida beaches are among the best in the world, attracting over seven million visitors annually – more than any other East Coast beach area.
Real estate professionals in Walton County say that prices are less than during the peak year of 2005. But they are expecting closings to increase, as more deals become available. Many residences are priced below the cost to build. “If you are looking for a property to hold on to for the next five years, the time to purchase is now. We are still very undervalued compared to other regions of Florida.”
The St. Joe Company (NYSE:JOE), whose corporate headquarters are in Jacksonville, FL, is the largest landowner in the Florida panhandle, owning some 718,000 acres of development land – half of it less than ten miles of the coast. St. Joe has been a big player in the area for a long time, beginning as a timber company but realizing in recent decades that the value of its holdings was far greater as investment property. So now theyre in the vacation home development business, with a great deal of activity centered on Walton County.
According to St. Joe’s Investor Relations Department the long term outlook for Florida panhandle real estate is particularly upbeat.
Long-term economic and population trends continue to favor Florida, whose economy is fundamentally solid and diversified. The state’s population is forecasted to increase by three-fourths (to 28.6 million) by 2030. Its demographic growth rate regularly outperforms that of the rest of the United States: since 1970, the State’s yearly rate of growth has outpaced the national average by 100%. By 2010 Florida will pass New York to take its place as the nation’s third most populous state.
Florida’s solid, diversified economy regularly outperforms the U.S. mean, with a burgeoning tourism industry, plenty of high-tech jobs and a strong high-tech manufacturing sector. A large military presence with a number of active and expanding bases provides stability to the region’s economy. Within the Florida panhandle, Walton County has one of the lowest unemployment rates in Florida and the U.S.
Florida is the commercial center of the Americas. Geographic location, as well as economic and political stability, places Florida at the heart of trade and business throughout the region. Vacation property sales to retirees remain robust, and Florida is a favorite spot for retirement relocation.
Northwest Floridas beaches are the states second favorite tourist destination, behind only Orlando. They draw over seven million visitors each year, more than any other stretch of beach in the eastern United States.
Beaches in the Florida panhandle rate as some of the most beautiful in the country and the world. Beaches in Walton, Bay and Gulf Counties have been selected for the number one ranking by Dr. Stephen P. Leatherman, an authority on beach quality and author of America’s Best Beaches.
Northwest Florida enjoys a very favorable climate, with mild winters, lots of sunshine and clear days. Northwest Florida is located in U.S. Climate Zone 8, the same climate zone as renowned vacation areas such as Hilton Head (SC), Amelia Island (FL), Kiawah Island (SC) and St. Simons and Sea Island (GA). Floridas beauty and variety of landscape is well-known. The Emerald Coast has a distinct geography, culture and cuisine that is very different from Miami or Orlando.
Northwest Florida entertains approximately seven million visitors annually. According to Visit Florida, the states tourism and visitor agency, 33 percent of these visitors are from households with incomes over $75,000 and 16 percent are from households with incomes over $100,000.
The number of private resort developments in the Florida panhandle is increasing. At communities like Seaside, Rosemary Beach, WaterColor and WaterSound Beach, oceanfront lots have sold for $40,000 per linear beachfront foot to prosperous families who have chosen Northwest Florida.
The new Panama City airport now under construction is expected to be in operation by February 2010. It will be a major international airport, thus opening the Emerald Coast to easy access from both coasts, the Midwest, Canada and Europe. Previously, access to the area by air was limited to regional airports.
Economists expect that the new airport will become a strong economic development engine for the area. Throughout history airports have a powerful track record for increasing economic development activity.
The new Panama City airport will be the first major airport built in the United States in almost fifteen years. As a large-scale greenfield airport location, it offers unique opportunities and unmatched flexibility for companies dependent on air transport and logistics infrastructure.
Examples of how airport construction stimulates local economies may be seen in Huntsville, AL, Savannah, GA, Jacksonville, FL, Fort Myers, FL and Northwest Arkansas. All of these airports have stimulated significant adjacent development.
The State of Florida projects that over its first decade, the new airport is likely to create 8,000 new jobs and at completion a total of 13,000 jobs. An important comparison is the construction of the new Southwest Regional Airport in the Ft. Myers/Naples area in 1983, which had a tremendous impact on real estate values. Since the airport opened in 1983, total residential real estate values in the region have increased an average of 11 percent annually.
Fortune Magazine (October 14, 2007) highlighted the St. Joe Company as one of the Ten Best stocks for 2008, citing the long-term potential of the company and its development business situated in the Florida panhandle. The article says: “When Florida real estate does rebound, investors will be kicking themselves for not recognizing today’s $28 stock price for St. Joe Co (JOE) — Florida’s largest private landowner — as a rare opportunity.”
In the quickly shifting economic climate, it is important to research and ask questions before making any investment choice. Yet the truth is that the Florida panhandle is a rarity, with a delightful climate and stunningly beautiful, mostly empty beaches. As you sit on the pristine, white sand with your feet in the emerald clear Gulf water, with pelicans and gulls flying overhead and dolphins cruising by you can see that there are some very important intangibles here. Northwest Florida is a very special place – and they’re not creating any more beach property!
Helpful Tips In Making The Most Comfortable Tent Camping
Tent camping is a pleasant alternative to pricey vacations. However, for tent camping to be convenient, there are some things that you need to bring along and to understand. If you read further below, I’m pretty sure you’ll learn a lot of information on how to make camping a comfortable and enjoyable experience.
Tent camping requires you to equip yourself with the correct equipment, food, clothing and other practical tools of modern life. Here is a list of camping essentials that you should never go without.
General Equipment
Tents must have screens and windows as these allow you to see the outside of your tent and guard yourselves from insects and other animals in the wild.
Sleeping bags, air mattress, pump or camp pads. If you want to wake up without suffering from an aching back, you need one or a lot of of these things. These sleeping items will defend your back from the tough surface of the ground that could lead to a miserable painful back and body the next day.
Lantern, Fuel, Flashlights, extra batteries. Of course you will need fuel and light. Just make sure that you keep them in safe places to shelter them from getting wet or lost.
First aid kit. You may personalize your kit depending on your needs. Don’t forget to take in insect repellants and cut and scrape medicines. This is one of the most essential tools that you need to create a comfortable camping experience.
Other tent camping supplies include:
Multipurpose knife
Ground cover and tarps
Ropes or twines
Rags
Carpet for front of tent
Rain gears
Toilet papers
Soap and other bathing essentials
Kitchen Essentials
When you’re tent camping either with your friends or family, one of most worthy things that will make your experience a memorable one is having the proper food. And the talentto cook and prepare it properly. Here is a list of kitchen essentials that you should take with you on your camping trips:
Portable cooking stove. Don’t forget the fuel canisters and matches that must be sealed in a plastic bag
Camp chairs, folding tables, plates and mugs, can opener and other cooking and eating utensils.
Water supplies (Cooler and water bottles for hiking.
Non perishable food stored in a zip-locked plastic or plastic container.
Entertainment Essentials
Being away from civilization does not necessarily mean that you should strip yourself from the right to be entertained. However, during a camping vacation, entertainment may be a bit modified to be appropriate your environment. Here are some things that you may want to bring with you:
Books
Puzzles
Wildlife identification books
Binoculars
Cameras
Cards, pencils and papers
Fishing gear
Tent camping should be entertaining, not boring nor should it cause discomfort. Otherwise, it will defeat the whole purpose of “enjoying” and “relaxing” on your vacation. Aside from these guidelines creativity is also a key. Think of activities that you could do day-in and day-out, rain or shine. Set up your vacation in advance so that you will have much time to anticipate and prepare your needs.
[Top]Read Your Contract Before Booking a Vacation Rental
As more and more people become aware of the bargain vacations that are possible by booking a luxury vacation rental, vacation rentals have become increasingly more popular. As a result more and more vacation home owners have decided to add their vacation homes to the rental market.
However, many renters fail to read the contract they are required to sign, and make the mistake of signing a surprisingly one-sided contract that absolves the owner or rental agency of all liability. The renter signs away all rights to recourse if the property is inaccessible, when there is a power failure, or when vital appliances fail to work. Obviously, any one of these calamities could ruin a vacation, and renters should not have to buy expensive trip insurance to protect themselves.
Some rental contracts pressure the renter to buy breakage insurance in case something breaks during their stay. Of course all rental contracts state that the tenant is responsible for damage they have done to the property during their stay. However, we have been in business 16 years and have never had to charge a guests credit card for damages. That is because we know that some things such as furniture are prone to break from time to time. However, we always give the guest the benefit of the doubt and would not hold the guest responsible for any damage that was not intentional or malicious.
The guest is put in an extremely vulnerable position if the owner or rental agency cannot deliver on their part of the bargain, because often these contracts require that the full amount of the rental be paid at least 31 days in advance. Thus, owners are put in the unfair position of trying to get their money back after having signed away their rights in the vacation rental agreement.
A more reasonable contract would require 50% of the rental in advance and the rest upon arrival, as well as a willingness to give a full refund if the property is not habitable at the time the guest has reserved. Also, a good owner will be willing to hold that deposit and allow the guest to rebook if there is a family emergency that prevents the guests from arriving at the time they have reserved.
If the agreement is too one-sided, you should look elsewhere in booking a vacation rental.
Below are some important things to look for in reading your vacation rental agreement.
1)The contract pushes you toward purchasing trip insurance. If you are renting from a reputable owner or rental agency, you should not have to pay the added cost of trip insurance that will add 7% or more to your cost.
2)The contact pushes you toward purchasing yet another insurance, accidental damage insurance, by requiring a large deposit if you dont buy their insurance, or by holding you strictly accountable for any damage that might not even be your fault. As indicated above, we have never found it necessary to charge a guests credit card for damage because we felt that anything that was broken was not intentional. If it were intentional, the insurance policy would not cover it in any event.
3)The contract absolves the owner or rental agency of responsibility for having the property in habitable and accessible condition with all appliances working. You should avoid at all costs any property if the management refuses to take any responsibility for your not having the vacation that you have paid for.
As a final note, you should remember that the way the vacation rental agreement is written is a good indication of how you will be treated when you arrive at your destination. If you sign a one-sided agreement, you should not expect to be treated fairly if anything goes wrong. It has been our experience that sometimes things do go wrong. What separates good vacation rentals from bad ones is a good maintenance staff and a dedication by management to taking care of problems as soon as they happen.
[Top]Oceanside Vacation Rentals – An Ideal Spot For A Family Vacation
Oceanside, California is a sunny, sandy beachfront community where you could enjoy relaxing delights and recreational pursuits to your heart’s content. If you can imagine an escape full of swimming, sunbathing, and surfing along the stunning Pacific Coast, then a waterfront vacation home rental is just the location for you to begin all your adventures.
Oceanside is located along the same coastline of San Diego thus this three and one half stretch of sandy beach is just a beautiful paradise. The white sand shorelines are a sight to look at especially with the contrasting crystal blue waters which go on endlessly. You can specially enjoy this ocean paradise if you have it all to yourself in the early morning hours at Pier View North.
One of the best ways to fill your vacation with water-filled activities is by staying just steps away from the water in a beachfront home or condo rental. From the moment you wake-up, you could be sunbathing in the sand or swimming in the sea in just minutes as opposed to spending your time organizing what supplies you will need for a trip to the seaside.
With all the Oceanside activities just steps away you will be hard pressed to pull yourself away from the ocean. Your vacation rental will put you within reach of other San Diego attractions that you would not want to overlook. You can step out and enjoy areas like the world-famous San Diego Zoo, SeaWorld and Legoland.
Besides the convenience provided by the Oceanside vacation rental you can have access to breathtaking views from dusk to dawn since there may be many wall to wall windows included with your unit. You can be looking out and enjoying the sounds and sights of the ocean even while you prepare your morning coffee in your nicely stocked kitchen. Take in the sunset as you stroll along the Oceanside Pier or bask in the wonder of the beautiful evening sky line as you lay on your private balcony or patio.
While your surroundings will definitely set the tone for your getaway and make it easy to enjoy your time on the golf course, at the beach, or at the Mission San Luis Rey de Francia, the time spent indoors should be equally as relaxing and entertaining. Your Oceanside rental is chock-full of wonderful amusements like a pool table, foosball table, board games, wireless internet, a state-of-the-art media room (ideal for a movie night), as well as an expansive collection of DVDs.
Next time you want to benefit from the joys of the greater San Diego area away from the hustle and bustle of the city, make sure to set your vacation compass for Oceanside, California. Oceanside has everything you could ask for in the way of waterfront activities and excitement to go along with the convenient access to all of your favorite San Diego attractions. For a true Oceanside experience where you get to live like a local and enjoy all of the comforts of home during your getaway, book your Oceanside vacation rental home today.
[Top]Paradise Can Be Yours, Investing In Hawaiian Real Estate
Hawaii real estate is a great investment opportunity for people who want a second home, want to make some extra money by reselling a home for profit or who want to rent the home out on a daily or weekly basis for vacationers who want an alternate to hotel living. There are many opportunities to invest in Hawaii real estate and the different islands have various homes that are available for sale. Property values for Hawaii real estate are on the rise, so buying early is recommended for the lowest possible purchase price and the highest resale value. Hawaii is a popular destination for vacationers and is also a popular place for people to get a second home or to retire to. If you are looking for Hawaii real estate, check all the islands that are popular to determine which one will have the best options for you.
Kauai real estate is a valuable investment for people who are looking for a second home or retirement home. The island has many things to do and see but is not as touristy as Oahu and Maui. You will still get the old world charm with Kauai real estate that you may not have as much of on the other islands. Additionally, it has a thriving tourist population with people generally wanting to choose Kauai for a more relaxing vacation. There is sand and surf as well as historical landmarks but it is not quite as commercial as the other islands, making it an ideal place for selling Kauai real estate or having a place for a vacation rental. Hawaii real estate on the island of Kauai is a great investment opportunity. Kauai is one of the islands where Hawaii real estate is growing and many people are not selling and instead choosing to live on the island. As this trend continues, real estate prices will skyrocket because of supply and demand. You will be able to sell a home at a very large profit if you wish to do so.
Maui real estate is a thriving industry with many homes available for rent or purchase. Maui is one of the more popular vacation destination islands, which makes Maui real estate a smart investment. Maui real estate is a better vacation rental investment than a sale opportunity if you are looking for a long term return. Tourist activity on Maui is at an all time high and does not seem to be declining. You can rent your home out on a daily or weekly basis and get plenty of income to pay a house payment. Over time, the rental payments will pay off the house entirely and you have a valuable asset. Maui real estate prices are rising so purchasing early will ensure you have an appreciating asset for years to come. If you decide you no longer want to bother with maintenance and upkeep of rental properties, you can sell the house and will likely get significantly more than you paid for it. In addition, if used as a vacation rental, new owners can look at the popularity of the home and take that into consideration when purchasing.
Oahu real estate is another good investment when thinking about Hawaii real estate. Like Maui, Oahu is a popular vacation destination with many tourists visiting each year. There is a thriving economy on the island and an abundance of opportunity to make money on vacation homes. Similarly to Maui, the real investment money opportunities are in vacation rentals. Families and groups who go to Oahu often do not want to stay in a hotel and would rather have the comfort of a home. The luxury it affords is also desirable to vacationers. You can purchase Oahu real estate and get a management company to deal with the daily activities of rental and upkeep. The income generated from vacation rentals will be sufficient to pay a house note and the management fees. You can then decide if you want to keep the house long term for years of income opportunity or you can sell the place to another investor. With rising costs of Oahu real estate, you will be able to get more for the place than your original investment and have a great opportunity to make extra money.
Big island real estate is popular for investors and home buyers. Kauai real estate, Maui real estate and Oahu real estate are the three largest investment opportunities available in todays market. Hawaii real estate is increasing in value and purchasing early to turn a profit is advisable. Whether you want your own second home, want to flip the house or want to have a vacation rental, Hawaii real estate is a great opportunity.
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