August 14th 2009
Tags: 55+, Active Lifestyle, Affordable Miami Retirement Communities, Affordable Tampa Retirement Communities, Best Places to Retire, Best Tampa Retirement Home Bargains, Dream Florida Retirement Homes, Dream Miami Retirement Homes, Dream Retirement Homes, Florida Retirement Bargains, Miami Retirement, New Miami Active Living Communities, Retire to Florida, Retirement Bargains, Retirement Property Bargains, Retiring in Florida, Retiring in Miami Florida, Retiring in Tampa Florida, Tampa Retirement, Tampa Retirement Real Estate Bargains, Top Tampa Retirement Community, Top US Retirement Cities, Top US Retirement Communities, US Real Estate Bargain Cities for Dream Retirement Homes, US Retirement Real Estate Bargains, Waterfront Miami Real Estate Bargains, Why Retire in Miami, Why Retire to Tampa
The beginning of the US sub prime fallout and catastrophe was the collapse of the Florida real estate market. Beginning with Miami and Fort Lauderdale, the Florida property markets starting folding. At some point, parts of Miami saw property price declines in double digits in a single month. Spreading from Miami, cities like Tampa, Orlando and Fort Lauderdale also saw the effects of a super heated real estate market place with unsustainable increases/capital gains, insufficient population, poor economic fundamentals and overbuilding of condos. With the rapid increase in Florida real estate prices, saw a complete spike the other way during the sub prime mortgage downturn, that to this day has not even started the recovery phase. Because of the huge decrease in prices, Florida’s Miami and Tampa real estate markets becomes the fourth and fifth best retirement home bargains in the US. When looking at the best real estate bargain cities for dream retirement homes in the United States, we analyzed such things as economic fundamentals moving forward, inventory, supply and demand as well as population growth. After these factors were examined, both Miami and Tampa made it onto the best retirement home bargains in the US simply because they remain hot areas for retirees, great weather, and liquidated basement bargain housing prices now. Read more about these top two cities for retirees below and see if they fit within your needs and requirements for your silver years.
The Best Retirement Home Bargains are Located in Miami Florida
Miami represents different things to different people. For retirees, the thought of buying a dream retirement home in Miami Florida in 2005 was a distant dream, never to be realized. However, because of the sub prime mortgage breakdown that hit Florida, and Miami real estate market especially hard, the city now has some liquidated property and basement bargain priced condos that may be an ideal fit for any retiree looking to live the high-style life. With over building, developers have increased the condo inventory in the Miami real estate market four fold, meaning that it would probably take at least another 2 years or so before all of the condo inventory is snatched up by prospective homebuyers and retirees looking for affordable retirement homes and bargain real estate. As one of the best cities to find real estate bargains, retirement homes in Miami are now affordable and quite attractive even to middle class earners. Life was definitely a party in Miami Florida during the boom when the city enjoyed some of the most massive gains in property prices for about 10 years, sometimes even double digit increases in a hot month. However, since the sub prime mortgage debacle hit Miami Florida, things have been less rosy in this top 6 best real estate bargain cities for buying your dream retirement home in the United States. It’s definitely a buyers’ market and will continue to be for a while. According to the latest statistics, the Miami condo real estate market is down a staggering 22% compared to last year and the sales volume has also completed stalled. 2008 say a decline in 40% in terms of Miami condo sales and single detached homes in this Florida city and the number of foreclosures and condo buyers walking away from their preconstruction condo contracts ballooned to frightening numbers, keeping lawyers very busy. Because of this implosion, the city of Miami becomes one of the best cities to buy retirement home bargains in the United States. With property prices hovering and stabilizing somewhat about 40 to 50% below market value during the peak, retirees looking for bargain retirement homes should look no further.
Why Retire in Miami? How Can You Find the Best Miami Retirement Home?
With still a huge glut of unsold condo inventory, Miami condo liquidations have increased as high-rise tower residences are now completing and Miami retirement homes and condominiums are listed in such great numbers that you can take the wait and see approach or even the low-ball offer approach to get the best deals. With such attractive condo listings and even single family homes listed at all time lows, the best city to buy a retirement home bargain will give you the best bang for your buck. Some of the most attractive retirement home bargains in Miami Florida will be in enclaves and neighborhoods that are retiree friendly and include such please as Sunny Isles Beach, Bal Harbor and even Aventura, all north of the city. If you prefer something more inland, but still within a short drive away from Miami center, retirees should look for the best liquidated home prices in such places as Coral Gables where you can buy retirement home bargains in Miami proper. Part of the intrigue for retiring in Miami Florida is the great warm weather, the beaches, the entertainment/nightlife, shopping/dining and world class amenities and services. You can get the best of all worlds if you find a bargain in MacArthur Causeway or Miami Beach, but more of the retirement homes are still overly inflated due to foreign investors. Here you can pay as much as one thousand dollars per square foot, but just several blocks away in neighboring communities, US retirees can find liquidated Miami retirement home bargains for as little as two hundred dollars per square foot. As well, the Miami retirement homes are considered to be one of the top 6 real estate bargains for retirement because there are many new properties for sale.
Tampa Retirement Home Bargains On The Rise
With a drop in Tampa housing prices by as much as 17.5% in the last year, basement bargain retirement homes in Tampa Florida are now creeping up and making the city along the Gulf Coast some of the most attractive retirement destinations for upcoming retiring adults. With active living as one of the most common themes for retirees moving to Tampa Bay in Florida, the city has seen a larger influx of adult living communities and bargain hunters in the past decade. Some realtors examine the Tampa real estate market with Miami’s and conclude that the former has values about half that of it’s larger sister, making it much more affordable retirement community for active adults. Unlike the lavish and quite pretentious manors and estate homes along Miami Beach, the Tampa retirement home bargains are in the form of single family homes and large lots that give you plenty of space. In addition, the Tampa retirement home bargains are located in quieter neighborhoods and communities, making Tampa Bay one of the top 6 cities to find your affordable dream retirement home today. During the boom years between 2001 and 2005, the Tampa property market increased double fold, making it a hot market amongst speculative investors who flocked out of the market shortly afterwards. Leaving behind their inventory and foreclosed homes, Tampa is well positioned to rebound quickly after the sub prime mortgage crisis because of its strong and diversified economy and other population fundamentals are that are absent in many of the other top 6 real estate bargain cities in our list of top retirement cities to find bargain real estate. Because the drop in property values happened suddenly and very early on, most of the hit has already been taken and some analysts even believe that the city’s median housing price should rise by twenty per cent over the next five years. For bargain retirement homes hunters in Tampa Florida, check out Clearwater or St. Petersburg that provide beautiful estate homes along golf courses. Times are a changing in Tampa, so get in on the action, do your research and find those bargain Tampa retirement homes throughout the city.
This concludes the 2 most affordable and best Florida retirement home bargain cities article. We continue our search of the top 6 real estate bargain cities in the next article which finishes with San Diego California.