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This year could still be filled with challenges in Florida's real estate market with a slow economy, little population growth, and uncertainty in the retiree market.  But there are excellent opportunities for several market segments such as first-time buyers, investors and international buyers who want to take advantage of low prices, low interest rates and great deals on new home inventory. 

Especially in Central Florida, because the area grew so quickly, there are now countless short sales, foreclosures and REO's on the market, but also regular sales where sellers have priced their homes to compete with these distressed properties.  There are unimaginable bargains to be had and a wide variety of choices and the window of opportunity is definitely closing!

Developers state that the prices of existing homes have fallen below replacement costs.  That indicates that pricing has overshot on the way down, because the long-run floor for prices has to be replacement costs.   That points to prices definitely rising in the future.

Florida does not have a structural economic problem like Michigan faces with its devastated auto industry.  Florida remains a desirable destination and conditions will improve here.  Already, the supply and demand are beginning to equalize in the Orlando area and prices are beginning a gradual increase.  Buying now is a great spot to be in, as the region renews its growth in the near future.

Over the next few years, the Orlando region is predicted to have one of the state's strongest economies, in terms of population growth, wage growth and personal income.   The outlying areas of Disney will also enjoy this growth and property values will once again be going in a positive direction.  This is the right time and right place to be buying real estate . . .  it can only get better.