Video: Miami's Version of the Hampton's
Welcome to Vero Beach, Fla., where the rich come to live and play. "On the Money's" Mike Hegedus reports.

It’s official: Now’s the time to buy

 Prospective homebuyers in Florida should act now. The state’s single-family residential housing market has stabilized after a year of declining sales and the price is right, according to a new University of Florida study. The quarterly survey of experts in the real estate industry completed in January shows that the share of respondents observing a drop in single-family housing prices has dipped, while a growing number prices staying even with inflation, says Wayne Archer, director of UF’s Bergstrom Center for Real Estate Studies. “We see that as a benchmark,” he says. “When prices maintain the same level as inflation, then we’re probably in some kind of equilibrium. It indicates the market is stabilizing.” Exception: condominiums which experts say are overbuilt and prone to speculative and naïve investors.
More info: http://floridarealtors.org/, keyword “UF.”

This article is available to view at http://www.floridarealtors.org/NewsAndEvents/Headlines/upload/headlines_3_12_07.pdf



Top 10 cities: Where to buy now

The real estate slump could get worse before it gets better. But these 10 markets offer great opportunities for those who have the patience to buy and hold.

2. Vero Beach, FL

64%
Projected gain in home prices (5-year)

Median home price

2006: $235,000
2011: $386,000		 Population

2006: 131,000
2011: 147,000		 Per capita income

2006: $44,400
2011: $51,200

Balmy weather, low property taxes, and a cost of living 3% lower than that of nearby West Palm Beach make this coastal town an affordable alternative, with sandy shores and the best surfing on the East Coast.

"Vero Beach is at high risk in the short term but will move up in the long term," Cochrane says.

Here's why: A Florida Atlantic University study says Indian River County and its two closest neighbors will need a projected 154,000 new homes during the next 25 years to house the growing population and replace old structures. A Manpower Employment Outlook Survey predicts growth in construction, manufacturing, and retail jobs too. Per capita income growth closely shadowed that of Martin County, Florida's second-wealthiest, and is gaining on that of Palm Beach County, the state's richest.

CAUTION: Projected job growth in the region will revolve mainly around lower-wage work, which can dampen home values.

The full story is available at
http://money.cnn.com/popups/2006/biz2/newrules_bestinvest/index.html



Alex MacWilliam Real Estate 2901 Beachland Blvd. Vero Beach, FL 32963
772.713.7973 | Fax.: 772.234.8126
Email.: Craig@VeroBeachHomesForSale.com
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