Many of Florida’s real estate markets took the brunt of the recent subprime mortgage crisis. Miami, for example, experienced an historic housing crisis during 2007 and 2008 – one it will likely take another full decade to fully recover from. Of course, Florida’s panhandle took a beating from the recent Deepwater Horizon oil spill, sending some beachfront property values into freefall. The paring down of the space program has put Cape Canaveral at a disadvantage of late. And, there is the ever-present threat of hurricanes and rising sea water that should concern any potential buyer looking to invest on either coast. That said, there are still some very smart bets in the Sunshine State. In fact, the two safest places to buy luxury houses for sale in Florida right now lie right at its heart:
Lake City, Florida
Thanks to its central location, Lake City is well-sheltered from the potential hurricane threat that so much of coastal Florida is susceptible to. It offers easy access to southern Georgia and, of course, the family fun throughout Orlando. It’s also just off of a main bisecting highway and boasts easy access to both the Gulf and the Atlantic. The town has plenty of culture to offer and beautiful golf courses, lakes (as the name suggests) and parks, as well as nature preserves and historical sites. And, Lake City residents needn’t worry about luxury accommodations within the city limits – there are plenty of gorgeous gated communities with breathtaking architecture to claim as one’s own.
For example, Supreme Auctions will be offering this completely restored Estate at 234 South West Windsor Drive with no reserve at Absolute Auction on November 14th. With a main house, a one and a two-bedroom guesthouse, 11+ acres of grounds including an Olympic-sized lap pool and a 15-seat movie theater, chef’s kitchen, library, gym and more, this auction could wind up being a true opportunity to buy at your price – since there’s the possibility to purchase this pristine property before the auction. To learn more about this property, get in touch with Supreme Auctions online or by call 866-929-2243.
Still in the midst of recovery after the housing crisis, Orlando house prices are still competitively low. It still ranks strong on the affordability index and has a bustling year-round tourist economy courtesy of “the mouse”. There are many luxury houses for sale in Florida within the Orlando city limits courtesy of gated communities, luxury golf condo accommodations and condo conversions downtown. West and Southwest Orlando are two of the most stable areas to buy a luxury home – and those looking to relocate here without taking a gamble would be wisest to start there.
For instance, at 8786 Lake Tibet Ct on the Southwest Side (picture located at top of page), you’ll find a $3.8 million 6 bedroom, 6 bath Spanish style luxury home for sale with panoramic views of Lake Tibet.
All in all, Central Florida is and will likely remain one of the smartest and most stable areas in the state to buy luxury homes in Florida. The region ranks high on the affordability index; it took a relatively light lashing from an otherwise devastating housing crisis for the rest of the state; its employment rate is high; it provides great tourism year-round, attracting money from around the world and the cultural, business and entertainment prospects that come along with it; it is temperate and subtropical but also comfortably nestled away from the exposed coast, which takes the brunt of oncoming hurricanes; it’s home to the University of Central Florida, the state’s second-largest university; recreation, such as golf, kayaking, hiking and tennis are abundant; there are countless pieces of luxury lakefront property on both natural and manmade bodies of water; and, even the area’s crime rate is sharply lower than other large cities in the region and state. When it comes to buying luxury houses for sale in Florida, your smartest and arguably your safest bet it to look in the center.