Investment Property in Orlando continues to attract buyers from around the Globe – and the message they are sending to local developers is clear – quality sells. Over recent years we have seen very little new property in Orlando due to the economic slow down but the market is back and the developers are responding with exciting new developments incorporating standard features that in the past were not even available as options. The following article was published recently in the Orlando Sentinel.
Builders are busy again now that the housing marking is rebounding. More importantly, buyers are buying. Sitting on the sidelines for years didn’t stop future Florida homeowners from dreaming big, with a long list of bells and whistles on their wish lists.
Now that buyers are spending money, they want what they want. Items that were once rare expensive add-ons are now becoming more commonplace. And when buyers demand it, builders deliver it, often as part of the base price of a new home. Now with the touch of a button, you can dim the lights and close the blinds as a movie screen lowers from above. Or if you are out of town, a high-tech security system lets you log onto a computer and view the inside and outside of your house from many angles.
Home construction was largely dormant during the six-year housing bust as prices cratered, buyers walked away from contracts and the backlog of unsold homes, swelled. Builders sought bankruptcy relief or went out of business entirely. But now the survivors are trying to out-do one another in an effort to capture buyers willing to pay for luxury and convenience, said Ken H. Johnson, an economist and real estate professional at Florida International University. They’re upping the ante to remain competitive with other builders,” Johnson said. “The reason they’re doing this is so they can say ‘My product is better than the other builders – choose me’.”
By Paul Owers
Orlando Sentinel
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