South Florida Real Estate Market

Despite the sometimes negative treatment in the media, the real estate market in South Florida is not devastated by the economic downturn.  In fact, many quality properties are available for investors and the market does offer opportunities to make reasonable purchases that will appreciate.  There are many foreclosure and bank owned properties on the market, and so prices have been steadily decreasing.

There is more buyer demand for homes between $130,000 to $170,000, though these price ranges are moving very fast.  Many tenant that are renting are beginning to realize the advantages of buying now over renting, and so these prices may start to increase.  As of numbers collected in May 2011, the number of single family homes for sale in February was 7485, in March 7119, and in April was 6804.  Meanwhile, homes sold at rates of 846 in February,  1111 in March, and 813 in April.  The numbers for condominium units and town homes for sale in February was 13,111, in March 12,138, and in April 11,399.  Those units that sold were 1375 in February, 1689 in March, and 1371 in April.

Some top news includes the increasing number of foreclosures, where prices may be hiding profits.  Some auction buyers overpay document stamp taxes to make a home’s sales price appear higher in county records.  At the same time, South Florida and the rest of the state lead the nation in potential job growth.  Wells Fargo recently issued a report indicating that the state has a positive economic future once it shakes off the still lingering effects of a recession.  Mortgage rates rose for the fourth straight week, with a 30-year fixed mortgage increasing to 4.91%.  Still, according to Freddie Mac, these rates were remaining below 5%.  Cash purchasers are, of course, not affected by mortgage rates, more earnest money, quick action and a pre-approval could give borrowers an edge.

Top South Florida Restaurants

South Florida and the surrounding areas offer several options for dining style and cuisine from all over the world.  Foodies can experience Little italy in Key Largo at Giorgio’s Café Largo, at 99530 Overseas Highway in Key Largo.  The restaurant specialties focus on the actual home recipes, and the restaurant is a local favorite boasting the largest menu in town.  There is a semi-private dining room for special events, and the kitchen specials emphasize seasonal and local ingredients.  The wine list is extensive and features some exquisite selections.  Homemade tiramisu and cannoli are always a diner’s favorite.  The DiGiorgio family started the business in 1968, but relocated to Key Largo in 1992 with three decades of restaurant experience to the area,  With convenient access to various local seafood, the menu began incorporating more specialties.

Another Key Largo favorite is the Pilot House Restaurant at 13 Seagate Boulevard.  The Pilot House Marina is within close proximity on secluded Lake Largo a quick drive from downtown Key Largo.  It also borders on John Pennekamp Coral Reef State Park.  Diners can enjoy elegant waterfront dining in the new Pilot House fine dining room or sit and relax at the more casual Tiki Bar and Grill.  For boaters, 33 slips are available and can accommodate power or sailboats up to 65 feet in length.   House specialties include the spectacular Philadelphia Cheese Steak and the fresh grilled mahi mahi dinner basket, both of which come with crisp French fries.

For great seafood at a great price, visitors to South Florida should check out the Key Largo Conch House, at 100211 Overseas Highway in Key Largo.  The restaurant prides itself in fresh local seafood brought in daily and everything on the menu is homemade - including all desserts, soups, and salad  dressings.  The Key Largo Conch was established in 2004 as a family business that has been prominently featured in the “Best of Key Largo” newsletter.  In fact, the restaurant’s conch fritters were featured on the Food Network.

Key Largo Conch House is located in a cute little house in South Florida, and offers seating in the outdoor garden, on the porch, and inside.  Besides their famous conch fritters, other guest favorites include conch chowder, conch salad, and fish tacos.  Parking is plentiful, prices are reasonable, and the service is prompt and friendly.

Fun Activities and Historic Landmarks of South Florida

There are so many fun excursions and sightseeing opportunities in the South Florida area, but a few really stand out.  First, families and animal lovers will enjoy the Dolphin Research Center at 58901 Overseas Highway, Grassy Key, Florida.  Kids and adults of all ages will get a chance to meet the Center’s dolphins and sea lions.  Guests can get a little wet and up close in the Deep Water and Shallow Water Dolphin Encounter and Dolphin Dip programs.  There are also sessions to be a Trainer for a Day, Researcher for a Day, Play with a Dolphin, Paint with a Dolphin, Dolphin Explorer and Meet a Dolphin.  Younger children will have a blast at the new Sprayground, which is an adventure where a giant seahorse, whale flukes, palm trees and other tropical sculptures shoot jets and streams of water while dolphin, whale, and manatee sounds play.

However, no visit to South Florida would be complete without a trip to the Everglades National Park, a gem in the U.S. National Park System.  Everglades National Park is a wonderful place to explore wilderness, waterways, and more.  The park is huge expanse of approximately 1.5 million acres, where visitors can spend a morning photographing birds, or an afternoon spent hiking and seeing alligators take advantage of the warmth of sunny south Florida skies.  Wrap up the day with an evening enjoying the warmth of your campfire.

The diverse habitats at the park allow for fun outdoor activities such as hiking, biking, fresh and saltwater fishing, and camping in the ultimate wilderness.  Throughout the park, visitors can explore the natural beauty on canoes and kayaks.  In many areas of the park, trails wind through the diversity of the habitats within South Florida.  With a wide array of land trails, Everglades National Park offers guests opportunities for leisurely walks, extended hikes and bicycle treks.