You might be a snowbird and not even know it!
The term snowbird actually defines a person, not a bird! To those who aren’t familiar with the word, a snowbird is, in fact, a nickname name for the Dark-eyed Junco bird, but in terms of people, it’s used to describe a group of seasonal travelers (usually retirees) who migrate to areas with warmer climates during the winter months. These areas include states such as Florida, California, Arizona, Texas, or elsewhere along the Sun Belt of the southern United States, as well as Mexico. All in all, anywhere that is warm during the winter cold season is where the snowbirds will be.
How does impact Central and South Florida?
Over the last couple of years, communities in Central and South Florida have seen a dramatic change. This is due to the fact that the increase in snowbirds has also lead to a demand for more real estate properties and development as well as better roads and safer streets. Snowbirds have also become a crucial part of Central and South Florida’s economy. With tourism making up for about $67 billion dollars in Florida’s economy, the snowbirds also have a large chunk of that money invested in tourism. Many people like to take advantage of the real estate tax laws here in Florida (which are more relaxed than northern states) and invest in vacation rentals. Alas, when they travel back north, they rent their vacation properties. If you’re interested in buy a home soon, make sure you read “5 Signs That You’ve Found The Right Home”.
What does this do to the real estate market?
At this instant, mortgage rates are lower than they have been within the last decade. This is very attractive to both first-time buyers and s seasoned investor. Another factor that has to be taken into consideration is the lack of inventory. Lack of inventory favors sellers because they can negotiate prices knowing that there isn’t much more to choose from. This makes real estate in Florida (at the moment) a “seller market”. According to Florida Realtor Magazine, by 2025 one in every five people living in Florida will be elderly. The numbers are measured by the average age that people usually retire. This means, these retirees, either already have a vacation home or a now finally going to begin looking for one. The only way to find out is to wait and see what turn the market takes.
Top 3 Most Affordable Snowbird Destinations
1. Clearwater, Florida
The land of clear waters offers the best value snowbird vacation rentals in addition to thriving downtown nightlife and popular shopping district. It is perfect for snowbirds looking for a place to return to on a yearly basis, as the city’s rapid growth means that there will be something new to explore every time you visit this top Florida snowbird destination.
2. New Symrna Beach, Florida
Not only is New Symrna second in affordability but it is often referred to locals as “Florida’s secret pearl”. New Symrna was also voted best small city for arts. With a combination of art galleries, cafe shops, and nightlight activities; New Symrna Beach is a fun and vibrant town that offers a quieter scene than its northern neighbor, Daytona Beach.
3. Haines City, Florida
Florida takes the top three spots on the affordability chart. Haines City is located inland as opposed to coasted like our first two destinations. There are bodies of water though, lakes of course. What makes Haines City an attractive location is the prices of homes as well as its 20 distance to Legoland and 40 minutes to all major theme parks.
If you’re thinking of buying a home or looking for a new and improved place to rent, please contact Premium Properties Real Estate Services at (407) 380-2800 or visit www.premiumproperties.com for more information.
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Here at Premium Properties, we’re always looking for the best ways to help our clients. That’s why we are the best real estate company in Central Florida!
Any questions? Please feel free to reach out to us:
Premium Properties Real Estate Services
564 N Semoran Blvd Orlando, FL 32807
Call us (407) 380-2800 or visit www.premiumproperties.com