Wednesday, 20 May 2009 

Florida and Arizona see rise in property prices two states in the US that have been badly hit by the property foreclosure crisis are showing signs of recovery with some buyers even entering into bidding wars for bargain priced real estate.

Figures from the Florida Association of Realtors show a surprise rise in sales for the first quarter of 2009. There was a 25% increase in sales of existing single-family homes in the first three months of the year.

It is the ninth straight month that Florida has reported higher existing home sales. Sales levels in the third and fourth quarters of 2008 were higher than the corresponding three-month period of the previous year, according to FAR.

Sales of existing condominiums in Florida also increased, up 19% in the first quarter compared to the same time the previous year.

There are signs that it is foreign property investors who are leading the charge. ‘Demand for Florida property from the British market is at an all time high for our company. Since the beginning of 2009 we have received over 2000 enquiries for auction, distressed or foreclosed property as prices have tumbled and sellers and banks are motivated to move inventory,’ said Lee Weaver of The British Homes Group Florida based in Orlando.

Bio
Lawrence F. Sanek is a licensed real estate broker and owner of Castle Dream Real Estate, LLC Brooksville, Florida. He is also an engineer with experience in the structural and architectural disciplines. He has many years of experience in selling real estate and enjoys helping families relocate to Florida or to another area in Florida and to Capture The Dream. Visit his website at Castle Dream Real Estate, LLC or contact him direct at 1-888-51-DREAM (37326) or email him at Sanek

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