At Vacation Pool Homes, we do a lot more than provide Florida vacation homes for guests and tourists. We are also a full-service real estate company that focuses on vacation rentals in the Orlando area. We’ve been in Florida for some time, and have seen the housing market continuously rise since 2011. Vacation homes have become one of the most popular, and profitable, investments in recent years for a couple of reasons. More and more travelers are choosing the affordable luxury of a vacation rental as opposed to a hotel, and more and more people are traveling every year. Pairing that with the hot real estate market in Florida, and the vacation appeal of Orlando, it’s a better time than ever to invest. Let’s look at some market numbers to help prove our point.
Increasing Home Values
Two years ago, Orlando found itself leading the nation for the highest number of foreclosures. However, it has made an immaculate turnaround and is seeing some of the greatest real estate gains in the country currently. According to the Orlando Regional Realtor Association, the average Orlando home price increased by 7% from last May (2016) to this May. While the market has been growing steadily since 2011, this is a significant increase in just twelve months. In addition, that report also found that home sales have risen by 14 percent in that same time period, and the inventory of available homes continues to go down, making it a hot market to invest in due to high demand.
One of the most important aspects of investing in real estate is taking stock of reliable future trend predictions. As most of you know, the housing market tends to rise and fall throughout the years, sometimes drastically and unexpectedly. However, Orlando has a low unemployment rate that is expected to continue to drop.
Additionally, the tourist industry in Orlando continues to boom, making it the ideal place to invest in rental property. In 2014, Orlando became the first US destination to see more than 60 million visitors in a year, coming in at 62 million tourists from all over the world. In 2015, that number rose to 66 million visitors, and in 2016, they saw 68 million visitors. Again, more and more people are traveling each year, and specifically they are coming to Orlando. And Orlando continues to deliver, with Disney World and Universal both expanding their theme parks in recent years, and the city offering more affordable lodging options for tourists.
So what does all of this mean for the real estate market? Home values in several Orlando counties are expected to increase a whopping 5.7 percent in the next year. That’s the highest percentage among the nation’s 100 largest metropolitan areas, according to Zillow, and 1.1 percent more than the expected national average.
But the excitement doesn’t stop at Orlando. A study done by the real estate analyst company Ten-X lists that while Orlando is in first place for expected growth, Palm Beach, Fort Lauderdale, and Tampa took second, third, and fourth place, respectively. These four Florida cities were previously areas that saw extreme devastation during the recession, and are making quick and efficient comebacks. Looking even further into the future, housing market experts expect that the value of homes will to continue to grow, as the median home value is still 17 percent below its 2007 peak before the housing crisis.
Move Fast, Or Miss Your Chance
The chairwoman of the Orange County chapter of the Central Florida Realty Investors nonprofit organization, Krystal Little, said that speed is the key to securing a home investment in Orlando. Little claimed that she saw a townhome hit the market, and within hours, had signed a contract to buy it. With just a new paint job and some cosmetic improvements, she is planning on selling it again in a few weeks at a 15 percent return on investment. Investing in this market, especially if you live out of town, requires a real estate company that is familiar with the fast Orlando market. That’s where Vacation Pool Homes comes in!
Thinking Of Investing In Orlando Real Estate? We Can Help!
At Vacation Pool Homes, we are so much more than a Florida vacation rental company. We also have a full-service real estate team that is available to help you make a smart investment in the hot Orlando and Florida real estate market. Once you purchase your property, you can also choose us as your property managers and let us take care of everything from finding guests to rent your home, to cleaning, landscaping, and handling guest payments. As people who are in the vacation rental business, we know what renters are looking for in a vacation home. Whether you’re looking to buy a fixer-upper and flip it, or searching for a long-term vacation rental investment, we can help you find the home you’re looking for. Contact us today to let us know what you’re looking for, and we’ll put together a personalized report of homes and developments that fit your budget and investment goals.