The Sunshine State Isn't So Sunny


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Southeast U.S Housing Market - Florida

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The Sunshine State Isn't So Sunny

  1. 1. Southeast U.S. Housing Market - Florida<br />
  2. 2. Florida – The Sunshine State<br />Foreclosed homes seem to be a reoccurring effect throughout the United States, however Florida has one of the highest rates.<br />The reason for Florida’s high rate of foreclosures is due to the outstanding number of unemployed, ranking #2 behind Detroit.<br />Florida is however starting to get back on track; over the last year there has been a much larger growth in home sales.<br />
  3. 3. Government Aids Florida!<br />Florida along with several U.S. states have been aided by the federal government’s, first time home buyers tax credit.<br />Although with aid Florida’s home sales have risen, sales prices continue to decline.<br />
  4. 4. Miami Thriving?<br />Miami has become one of the country’s largest hot spots, bringing in new buyers.<br />Miami has been growing rapidly over the past 5 years. Bankers have taken over huge condo and housing developments, abandoned by the developers.<br />BUT, many South Floridians are <br /> having trouble through the <br /> economic woes.<br />
  5. 5. The Miami Auction<br />Auctioneers are feasting in Miami, with foreclosed home sales, creating a “bargain hunter’s” dream.<br />However buyers are not coming, because mortgages are very hard to find right now in Miami.<br />Miami’s housing market is struggling right now with a 24.2% value decline.<br />
  6. 6. Palm Beach Just Staying Afloat<br />The Palm Beach housing market is suffering greatly due to the economic crisis, and Wall Street scam artist, Bernie Madoff.<br />Madoff desecrated the economy of Palm Beach, ripping off billions of dollars from scammed investors, causing struggling client’s homes to be foreclosed.<br />
  7. 7. Madoff’s a Scab<br />Foreclosure rates have soared since the devastating scam.<br />This allowed home sales to be greater, but it is causing the value of the homes to plummet 15.1% in 2009.<br />
  8. 8. Steady Naples<br />The Naples market is becoming more and more stable as time goes on.<br />Naples is one of Florida’s higher end markets, which means they are used to the market’s peaks and valleys.<br />In 2009 Naples’ housing value decreased 14.2%. <br />
  9. 9. Fort Lauderdale Almost at Rock Bottom<br />The bottom of the market looks to be close in the FTL.<br />Condo developers are selling their remaining properties any way they can, but the bottom of the market won’t be seen till then.<br />Home values fell 11.9% for 2009. <br />
  10. 10. No More “Devil” Ray in Tampa<br />Tampa’s home sales are increasing as the foreclosure listings grow.<br />A large demand for vacation homes are helping the sales get back to stability.<br />Not only are the vacationers helping to increase sales, but first time buyers are too, thanks to the $8,000 federal tax credit. <br />
  11. 11. Jacksonville Needs Tebow’s Help<br />Aggressive banking practices is the central reason behind Jacksonville’s steady increase of foreclosures.<br />The local economy is hurting because of bankruptcies and business closings, and are looking for that one boost to bring them back.<br />Jacksonville’s housing values diminished 13.6% in 2009.<br />
  12. 12. Not So Much Fun In Disney World<br />Orlando is getting hit hard by the foreclosure rate, in an area that is the nation’s top vacation spot.<br />Thousands of empty properties sit, driving the prices down, some of which not ready to be sold.<br />Housing values fell 16.7% in 2009, due to simple supply and demand issues.<br />
  13. 13. Seminole Chopped<br />Florida’s capitol, Tallahassee, is seeing some increases in home sales due to government aid.<br />The mortgage crisis is still impacting the capitol city, driving housing values down 11.8% for 2009.<br />
  14. 14. Market Overview: 2009<br />