[deckardc]

Prices on the Space Coast or Brevard County, where Cocoa is located, are low right now and overall it is a decent place to live. You would be about a 45 minute drive to Disney from there. I don't recall Cocoa as being a "bad" place. I think Palm Bay, a little further south, is worse.

Personally, I wouldn't buy anything in this state until late 2009 at the earliest. Prices are still dropping and they have a ways to go. Florida is the #2 state in the nation for foreclosures and nothing will lower your property value faster than a bunch of foreclosures in your neighborhood. I would hate to buy now only to have negative equity by next summer.

You will also have to contend with property taxes, which do go to help pay for local services. Since this would not be a full time residence, you would not get any tax breaks. Also, homeowners insurance is required of all properties with a mortgage and insurance prices in FL are very high, even higher than earthquake country in California. At least there is no TV licensing fee in the US. Utilities such as gas, electric, water, sewer, trash, cable or satellite are a monthly charge that you will pay directly to the service provider. Water, sewer, and trash is usually provided by the local city or county where you live and it is not included in your tax bill.

If I'm not mistaken, all mortgages in the UK have adjustable rates. In the US you have the option of a fixed rate mortgage which is far more preferable. A 30 year fixed rate mortgage is what is most common.

The exchange rate is definitely in favor of the pound right now so it may be worth it to you to buy now. You will have to make that decision but I would strongly recommend looking more closely at the housing market here. Here is an article from the London Times: The celebration is over as Floridians are battered by the housing slump - Times Online (http://tinyurl.com/2n9r5s - broken link)
There are a lot of expats from the UK in central FL and plenty of shops that sell British items so if you get a craving for mushy peas, Bovril, or Quality Street candies, it shouldn't be too hard to find here.

[deckardc]

Originally Posted by Carbondated

Can't blame him, the US Dollar is so poor against the Pound. It makes retail sales clerks in England rich enough to buy "investment" properties in the States.

It may get worse. If the Fed keeps cutting interest rates like they did today, the paper the dollar is printed on will be more valuable than the dollar itself.

[sunrico90]

If the price is correct, can you purchase as a long term investment and lease the property?

Or is better to purchase land and capitalize 5 to 10 years from now?

Many large investors are buying homes all over the nation and holding until the market turns. FOX news had a report on this last week and the investor from Las Vegas is buying all over.

I was in Lexington Ky lat month and the cost per acre was under $2K and if you do your homework and get it for less...

Here in northwest Florida an acre can be from $80K and up....

[firemed]

Originally Posted by deckardc

It may get worse. If the Fed keeps cutting interest rates like they did today, the paper the dollar is printed on will be more valuable than the dollar itself.

Kind of like the penny now !

[floridasandy]

Originally Posted by uk-mike

Thank You, Do you mean that Property prices in Florida are falling?

What other outgoings would I have. Is it similar to the UK, That there are taxes levied to cover Local Services provided by the city, alongside Gas and Electricity? What about advice on buying, What other processes are included in buying in the US(Fla)?

why don't you look on the local papers online? we have tcpalm.com and floridatoday.com in our area. then you can see home prices, crime reports, local politics, and interesting local information.

[ukmike]

Thanks to All

I am now back in the UK, Visited the original house in Cocoa, cheap and quaint but not in the best of areas. Saw a lot of Rood,

Got a Realtor in last few days, who allowed me to view some properties after seeing more from outside. Found one in Davenport very cheap, but it sold before I could arrange funds back in the uk.

A great learning curve, will be back soon with partner to look for more, It will probably be Davenport area or similar with permission to let, when we aren’t using it.

Incidentally I was disappointed with Titusville area, very run down on the bit I saw Route 1!

Are there any comments on realtors? I got some information from one who was pretty good, but then met another who comes very highly recommended by an old friend, that I found he knew!

Can you have 2 realtors?