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Best of the crop outside Florida
Whil st the American dollar remains relatively puny against the pound and euro there are excellent opportunities for certain types of property in particular locations in the States. Combine this with great value for money particularly against comparable British properties, excellent build quality and a well established conveyancing process and it’s clear to see why interest in American property remains high.
The continued popularity of American property is all the more obvious when measured against more speculative property alternatives in other countries, where there may be risks associated with future political uncertainty, compulsory purchase of land by local Mayors or concerns over legal title to property.
Few countries can offer such an enormous diversity of climate, landscape and activities to choose from, how many countries have land masses covering two oceans! As an American anthem highlights - From sea to shining sea
Just consider the exciting range of opportunities in different locations New York or Los Angeles for those craving cosmopolitan dining and shopping opportunities - how about Hawaii for a tropical Island Paradise, or Colorado if ski slopes are the key consideration.
Although it is true that following a period of breathless price increases some of the favourite property hotspots are cooling down, from growth figures that in many cases exceeded 40% last year, there are still favourable options. However fears of an overheating market borne out by rising levels of inventory mean it is better to be cautious of areas that have attracted a lot of speculative investment over the past three years
Positions can change very quickly as anyone enticed to either Las-Vegas or Central Florida last year would realise. Whereas during 2005 glitzy adverts flagged up the opportunities in these locations, this year is more a case of the grim reaper highlighting a potential fall in prices. Yet misleading articles in the UK press continue to flag up potential performance in the face of overwhelming evidence to the contrary.
So what are the key considerations for tracking down property in the States at the present time - to a large extent these depend upon your motives –
For thoseconsidering Immigration; where job opportunities, climate and education feature high on the required list, California and Florida remain top choices. Favourites with those Brits crossing the pond include Sarasota on Florida’s Gulf Coast where you are looking in the region of £225,000 for a 4 bedroom house with a pool and Santa Barbara California where you need to at least double that figure.
For those of you looking at a second home, or a holiday/ investment home to rent out and taking into account flights from the UK the choice is enormous – here are a pick of the crop.
Fort Collins 60 miles from Denver Colorado has just been voted Americas best place to live in the latest survey by Money Magazine. This accolade is a precursor of active interest by American with itchy feet and a desire to move and thus usually rising property prices.
An unpretentious College town of 128,000 with the vibrancy of a City, sited at the foot of the Rocky Mountains the historic heart of the City has been restored. Indeed the old town area was the original model for Disney’s Main Street however in Fort Collins you get the real thing including sculptured fountains, galleries, festivals an array of nightlife and even a number of micro breweries but without Mickey or Donald, just some very friendly citizens.
The areas schools are excellent and the town enjoys low crime rates, 60 miles of cycling and walking trails, 200 days of sunshine and some great kayaking.
Properties prices range from £200,000 to the Millions if you really want to splash out.
Dallas Texas may have been associated with glamour of the Ewing’s, it’s certainly a Dallas is a great city much favoured by migrating Brits after that larger than life Texas style and grandeur. Americas 9th largest city with 1.2 million people the City has undergone a renaissance. The 6 billion dollar transformation of the downtown area designed for people who enthuse about culture and architecture has contributed towards Dallas being home to the largest urban arts district in the country. Plus, all over the City you'll find historic museums, beautiful architecture, rare collections of artwork and stirring performances.
When the sun goes down, evening entertainment heats up in this Texas City. Several entertainment districts are hubs of energy, live music flows in the famed Deep Ellum area, and if you feel like dancing, there are plenty of places to groove into the night.
There are direct flights from the UK into Dallas Forth Worth airport from the UK. The economic diversity of the Dallas area, low tax rates, it’s location as a transportation hub for the USA and the fact that unlike some areas it does not have an overvalued property market make it an attractive proposition. Property covers all price ranges from downtown conversions popular with young professionals in the to the equivalent of the Southfork Ranch for those JRs amongst you!
In Arizona, house prices have recently been outstripping every other state. Over a 12-month period, the leading gainer was Phoenix, where prices were up 38.4 percent from a year earlier. Phoenix the fifth largest City in the USA with 1.4 million residents offers a unique Southwest culture and a desirable, if hot climate, Greater Phoenix is also one of the world’s top golf destinations and home to numerous four and five diamond resorts.
Greater Phoenix serves as the airline hub of the southwest, and is the destination of choice for about 12 million travellers annually; again there are direct flights from Britain. Some of the region’s unique offerings include the incredible Sonoran Desert through Jeep tours and balloon rides; Hiking or biking some of Greater Phoenix’ numerous mountain trails; Partaking in Greater Phoenix’ western and Native American history at a variety of area attractions; and day trips to scenic Arizona locales, such as the Grand Canyon and Sedona. Year-round sunshine and mild temperatures make Phoenix America’s premier desert city.
Again as a College City, popular vacation spot and a hot employment centre there is a strong demand for housing with prices again covering all price bands.
Surf andexquisite scenery are the qualities that most visitors equate with San Diego. Nestled in the southern-most corner of California’s coastline, the city is blessed with sun year round and temperate weather during most of its winter months. Many travellers come here just to bask in the warmth and experience what it is like to live in a Southern California paradise.
Surrounded by long sandy peninsulas (which the locals call ‘islands’), San Diego provides the optimum setting for many American vacations. Pristine beaches (such as Coronado Island’s secluded waterfront) and trendy upper-class shopping districts, overlooking the bluffs of San Diego’s ‘jewel’, La Jolla, are two of the unique characteristics of this city.
The Downtown area is home to the old Gas lamp Quarter, with its 19th-century stately houses and jazz. Until the mid-1970's, San Diego's Gaslamp Quarter was a seedy red-light district habituated almost exclusively by sailors on leave from local military installations. But a huge development project has turned the zone into a buzzing centre for night life, and surrounding downtown neighbourhood like East Village, Hillcrest and Little Italy are now peppered with cranes putting up new loft buildings, destination restaurants and high-end boutiques.
Property in California is towards the higher end of the American property price range but with the States popularity both with American and Overseas buyers this is not surprising.
Hanover is located on the western side of New Hampshire in the scenic Upper Connecticut River Valley. The river forms the border between Vermont and New Hampshire. Areas The Town has a population of 10000 and is the home of Dartmouth College, which was established in 1769. The Town charter was granted in 1761 and the first permanent settlers arrived from Connecticut in 1765. Hanover is near some really great centres including 2 hours from Boston, 3 hours from Montreal, and 5 hours from New York City Property includes some lovely traditional white clapboard New England houses in the price range of £300,000.
Saint Augustine Florida the nations oldest City is also considered by many as one of the nations most charming. Convenient for Orlando airport the City a delightfully different feeling to many American Cities with a delightful historic district with cobblestone streets and quaint cafes, bars, popular with tourists. Again the tourists and the College students provide for a wider range of rental opportunities that the saturated holiday rental market in Orlando and property prices cover all bands.
Lake Tahoe California is a winter ski resort that’s also a great outdoors resort in the summer, providing for year round rental income, there is a great range of rental property starting from £150,000. Lake Tahoe really is a beautiful year round town and if you prefer the outdoor life and don’t mind the longer drive from the airport it’s an area worth considering.
One final caveat to these great possibilities – considering them as lifestyle options and medium term investments is one thing however if considering any property as a short term investment bear in mind that positions can change surprisingly quickly, therefore always check the latest position from an independent specialist before making that investment across the pond – at the present time the right resale property can be a better buy than off plan.
Andrew Bartlett is a certified independent American emigration and property Specialist, he writes articles on America property trends, has constructed a property consumer web guide www.AndrewBartlettFlorida.co.uk and provides independent advice to British clients on locations, properties, Agents and investment trends.
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