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Positive indicators for the future of Florida’s housing market

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Home Page > Finance > Real Estate > Positive indicators for the future of Florida’s housing market

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Positive indicators for the future of Florida’s housing market

By: realtyassociates001
Posted: Oct 20, 2010


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Let’s have a look at several of the advantages and positive indicators for the future of Florida’s housing market.

Great value. All over the us, home prices have dropped almost 20 percent during the past year. The time is right. Home sales numbers are rising again — a sign that the market restoration might be underway. Circumstances are perfect for buyers to find their perfect property. The choice is plenteous in all price ranges. However as sales volumes grow, inventory levels are then likely to decline. That truth translates into this advice for prospective buyers: Do not wait too long.

Lending rates are currently at the lowest levels since the 1960s. Lower rates multiply a potential buyer’s monetary command. Even half a percent is able to  result in a sizeable difference. Prospective buyers are able to obtain more real estate for the investment, and this is therefore an ideal state of affairs for people searching for an upgrade in size.

There are incentive programs from state, federal and local housing programs which is able to  be of assistance to possible real estate buyers. Check with your home mortgage lender with reference to state and federal incentive programs.  Long-term economic as well as demographic tendencies persist in favouring Florida. During 2010, economists predicted that Florida will be the third-most-populated state in the US. Florida continues to be one of the 10-fastest-growing states in the U.S. for the past 70 years, and according to Cencus data, Florida has frequently been named as one of the top four. Population growth will continue to offer a basis for other economic growth, including new jobs and growing incomes. These trends are all positive indicators for housing growth.

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Rent to own Florida- Lease option Florida home

Over the coming years, Florida stands to profit from the migration of the aging Baby Boomer generation, approximately 80 million strong. Demographic reviews show that the Sunshine State’s mild local weather and outdoor facilities continue to make Florida a desired retirement location.  Florida’s economy, like the rest of the country, is affected by the recession. Some business sectors, though, remain promising for the Florida economy. The healthcare and technology sectors are rapidly becoming an critical economic force in South Florida.

Having a house causes increased personal well-being. Study reveals that individuals who possess their own houses are likely to exhibit elevated degrees of individual confidence and general fulfillment, which consequently helps to make householders and their children more productive members of society.  Research illustrate that kids brought up in houses owned by their families are generally more likely to remain in education and graduate high school. They are also shown to have a superior lifetime yearly income.  People who own homes have a strong financial interest in what happens to their community and are predisposed to become more involved in community and civic affairs. Studies prove that property owners also intermingle more with their neighbors and communities.

Lastly, let’s not forget the reasons that brought inhabitants to Florida in the first place, and will continue to appeal to them — gorgeous beaches, fantastic weather and a sociable business climate, with no state income tax. It’s no wonder that Florida’s amalgamation of pleasant climate, excellent leisure facilities and economic opportunity has persistently put the Sunshine State in the top 3 of Harris Poll’s “Most Desirable Places to Live” study.

realtyassociates001 – About the Author:

Homes for Sale Palm Beach Gardens been the trend in nowadays, and Homes for Sale Jupiter Island are very much comfortable. Homes for Sale Jupiter get ready to be the proud owner.

Source: http://www.articlesbase.com/real-estate-articles/positive-indicators-for-the-future-of-floridas-housing-market-3513824.html

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Article Tags:
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Marketing to Hispanics in the US – Avoid These Five Common Misconceptions

Does the number 569 million sound like a lot to you? This is the population of Latin America. How about the 46.9 million Hispanics living in the United States? Hispanics already comprise the largest U.S. minority. If you want to attract the increasing purchasing power of the Hispanic consumer, learn more about the culture. Here’s a good start.

Misconception #1: Hispanics are one homogeneous group.

Reality: The U.S. Census Bureau came under fire a while back for choosing “Hispanic” as an ethnic category representing U.S. residents originating from Spain and Spanish-speaking America. Why the clamor? Well, “Hispanic” is a cultural term, not an ethnic group. To varying degrees, Hispanics originating from Latin America are descended from European, Native American and Black African groups as well as Asian and other mixes. The U.S. government has had to modify this position. What assumptions should you modify? When you are offered a “tortilla,” do you imagine a flat corn wrap (Mexico) or an omelet (Spain)? When you meet “Spanish” people, are they truly from Spain or are they Spanish speakers from a Latin American country? Does every Hispanic sing and dance salsa, merengue, samba, mariachi, cumbia, flamenco and the tango?

Of course all Hispanics are not the same. They are Guatemalans or Cubans or Chileans or Spaniards. The term “Hispanic” refers to anyone originating from a Spanish-speaking country. This extends along a wide range of ethnicities, cultural traditions, regional dialects, diets, political and social backgrounds. In the U.S., immigration patterns from Latin America are heavily influenced by economic and political factors. People coming to the U.S. from the same regions often share common cultural characteristics, customs and behaviors but Latin America comprises incredible diversity. Even more important that their country of origin, families migrating from Latin America are distinguished in their behavior by the socio-economic class they belong to. Some are poor; some are wealthy. Some speak English; some do not. Some seek employment opportunities; others are refugees seeking political asylum. Others come to join family members already living in the U.S. Each group is influenced by distinct experiences and cultural backgrounds.

Lesson: Identify your Hispanic employee, neighbor, client or business partner as a unique individual first, and then, as sharing some common characteristics with compatriots of a similar background.

Misconception #2: Hispanic families have lots of children.

Reality: U.S. statistics do show that birth rates are higher than the average for Hispanic immigrant families. One could argue that since the majority of Hispanics are at least nominally Catholic–and that many devout Catholics do not practice modern forms of birth control–that this would explain why Hispanic families are so large. But that would be jumping to conclusions. Hispanic households typically are larger than average U.S. households; however, this is not because Hispanic couples have more children than Anglo-Americans.

Imagine that a friend or acquaintance inquires about your family. Who are you then thinking about? Your spouse? Your children? Perhaps your parents? Now ask a Hispanic how her family is doing. You will likely hear news about parents and siblings, but also the vacation trip her grandmother took with her aunts, her newborn niece, a cousin who was just married, the uncle who got a new job, and about any other relative with news to share.

Hispanics do not distinguish between ‘nuclear’ and ‘extended’ family. Every relative is part of the family. Unless there is a compelling reason to move out of a family home, even grown children will remain. Often a widowed grandparent, unmarried aunt or cousin attending city college will also live with the family, forming a multigenerational household. The great advantage is always having someone available to take care of babysitting and housekeeping duties; having additional sources of household income; and, when there is a repair needed, there is always a talented cousin or nephew to help out. It makes the yellow pages obsolete!

Lesson: It would be a mistake to ignore how close the Hispanic family is, which leads us to the next point…

Misconception #3: Hispanics share the same priorities as Anglo-Americans.

Reality: On the fateful date of September 11, 2001, all eyes were glued to the horrific image of the New York Twin Towers collapsing over and over again on the television networks. Many North Americans can recall where they were on that day and can just as easily recall the visual images and the reporting on the aftermath of the terrorist attack. What many don’t realize is that Spanish language television networks in the U.S. were also reporting on the event. It was interesting to note one unique element that distinguished their reporting.

Before beginning the news update, each on-the-scene reporter was first asked how they were feeling, and secondly, whether they had any family members affected by the attack. Curiously, although none had family members directly impacted, each came up with a relative who lived or worked in the city and, upon last report, were safe from the fallout.

Family holds the highest priority, even over one’s job. Family unity and respect are held as core values in the Hispanic culture. You may be surprised to learn that in a job interview in Latin America, it is expected that the candidate will talk about his family along with other personal information during the interview process. This gives the interviewer a notion of the candidate’s family lineage to discover if he comes from a decent background. Inversely, a job candidate is advised never to speak poorly of or complain about his parents for this would leave a bad impression. A Hispanic is a member of a family and a community first, and second, an individual with specific capabilities and talents.

Lesson: Be inclusive of all family members, whether you work in a physician’s office, a social service or government agency or you are a retailer looking for the right promotion to attract Hispanic customers.

Misconception #4: All Latin American immigrants are poor, uneducated and untrained.

Reality: Statistics may show that the majority of immigrants from neighboring Latin America come to the U.S. seeking opportunities for employment that don’t exist for them at home. Many are poor. Some are here illegally. Many seek manual labor. Some lack formal education. But there is a difference between formal education and occupational training.

In Latin America, the old-fashioned concept of learning a trade through apprenticeship is still a viable alternative to academic schooling. Many Hispanic workers are talented builders, mechanics and tradesmen. Some accept jobs that they are overqualified for because they are undocumented or because on paper, they do not officially qualify for better positions.

Some may have entered the U.S. due to political instead of economic circumstances. Among the highly educated immigrants, some are not permitted to practice the professions they otherwise qualify for due to bureaucratic obstacles. For example, expertise with the legal systems in Latin America would not qualify a foreign lawyer to practice law in the United States. Doctors, judges, engineers, scientists and entrepreneurs count among their numbers. There are laws of employment prohibiting a foreign citizen from occupying a job position for which a U.S. citizen would as easily qualify.

Lesson: Get to know your Hispanic employees and their particular capabilities. You may have a hidden pool of special talents to tap.

Misconception #5: Hispanics don’t spend much money here in the U.S.

Reality: During the recent U.S. housing crisis and economic downturn, many homeowners underwater on their mortgages abandoned their properties. An interesting statistic emerged among the data. On average, less Hispanics walked away from their mortgages. Why would this be true? For them, real estate represents a home, not an investment. Once a family has worked and saved enough money to purchase a home, it is the place where the family shares their lives together. Additional family members will find more revenue streams to contribute to keeping the house payments current.

Hispanics are not impulse buyers. They will look for value when spending their discretionary money. Even if it takes time to amass enough money, they will spend to purchase something they really want. It is true that many immigrants will send some of their earnings home to their country of origin to help support those left behind. But this demographic’s earning power is growing steadily if only due to the increasing number of Hispanics in the U.S. Those transplanted families continue to raise ever increasingly acculturated children who will adopt more of the typical North American’s spending habits. Consumerism is inevitably going to grow among Hispanics in the U.S.

Customer loyalty is high among Hispanics and brand loyalty among acculturated children will expand later if captured early. But they must be won over by value and good customer service.

Lesson: Don’t underestimate the purchasing power of Hispanics. Discover their buying habits. Target your marke

 

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