Central Florida Set for Housing Rebound

For the first quarter of 2009, only six states saw an increase in home sales, and Florida was among the lucky few. According to Central Florida real estate agent ""Amy Ruff"":http://www.amyradfar.com,  thanks to the lower price entry for quality homes and the $8,000 tax rebate for new homebuyers, it looks like buyers are making their way back into the market to snap up extraordinary deals on Central Florida homes.
Florida real estate as a whole had a less-than-stellar performance in 2008, but the central part of the state seems to have started recovering quicker than other regions. Toward the end of 2008, Central Florida real estate actually saw a 15 percent increase in sales.
Ruff, who has been selling residential and commercial properties in the region for over a decade and amassed over $100 million in sales, says the area's close proximity to Orlando and its popular theme parks, along with the beautiful weather and upscale, family-friendly neighborhoods make Central Florida a choice location to buy a home. From luxury condos in Heathrow, Longwood, and Winter Springs to waterfront property in Windermere, Ruff says people are returning to Central Florida not only to buy first homes, but to purchase vacation properties.
Ruff explained that the first quarter activity shows promise for the Central Florida real estate market, with foreclosures, short sales, and REO auctions set to boost home sales in the region even further.
Stanley D. Smith, a University of Central Florida finance professor, agrees that positive signs are beginning to peak through the gloom in the regional housing market. Smith released his """"June 2009 Update: Real Estate Appreciation Report for Central Florida"":http://www.mbacf.org/pdf/2009/Central_FL_RE_Appreciation_JUN_2009_Update.pdf,"" last week, in which he noted that the latest quarterly appreciation rates for single-family homes are positive, or at least, losses are near zero.
""This glimmer of hope looks stronger than last quarter,"" Smith said, ""and reinforces the possibility that the losses are at or near the end.""