It's good to see that the £UK is getting stronger against the $US. It certainly helps overseas owners who have found it getting a bit pricy to keep a second home. Today's mid market price of around $1.61 pounds to the dollar is certainly better than the $1.45 rate in May 2010.
The cost of living is cheaper than the UK VAT at 20% v Sales tax at under 7% makes a huge difference. However we have noticed big increases in Homeowners Association Fees along with food, fuel and even a day hopper pass to Disneyworld costs over $100 so if you are considering buying a second home research the cost of ownership.
We think that a great deal of confidence has returned to the sales market, average prices have dropped because a large percentage of sales are bank arranged or owned. We have noticed that the bargain homes are fewer than a year ago but still available but for how long...
The homes purchased and rented were taken by long term tenants almost immediately and after paying all expenses a return of 6% is available and we feel that the prices of those homes has increased in the last 12 months.
Another home in Summerport Windermere 34786 is under contract comprising 3450 square feet under heat and air and 4300 with garaging. This home was previously sold for $577,000 and has swimming pool with solar heating, large deck and pool screen, in a gated community with residents access to a ski lake all for just $280,000. That's just £40 per square feet and that includes the heated pool and screen.
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