Tampabay.com
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OCTOBER 20, 2008

Hope springs eternal in breasts of Florida real estate appraisers

The University of Florida's Bergstrom Center for Real Estate Studies seems to have discovered a dimly lit cranny where Florida real estate professionals express booming optimism. Here's an outtake from recent survey results:

The national economic crisis has failed to rattle Florida real estate experts, who, despite serious concerns about the availability of financing, remain surprisingly calm about market conditions within the state, a new University of Florida survey finds.

The most recent quarterly survey of Florida real estate trends completed in September shows the investment outlook for various types of properties remains steady, said Wayne Archer, executive director of UF’s Bergstrom Center for Real Estate Studies.

“People who have responded to our surveys have not lost their faith in Florida as a place to be and a place to invest,” he said. “We have 40 pages of comments from our respondents, and although the dominant theme is the disruption of financing, perhaps the second theme, as one person put it, is people being on the sidelines with full pads and helmets just waiting to jump back in.”

Although Florida’s housing crisis is worse than other states, over the long term Florida stands to benefit from the migration of new residents, particularly as baby boomers age, Archer said. The Sunshine State’s mild climate and outdoor amenities make it an attractive retirement destination, despite high property taxes, insurance rates and hurricanes, he said.

The latest survey is based on 392 responses and is 12th in a series. It is the only Florida-centered survey of leaders and professional advisers in the real estate industry. The largest group of respondents was appraisers, about 51 percent, followed by brokers and other service providers.

To UF's credit, most of the rest of the press release deals with the shaky state of Florida real estate, making particular mention of Miami's condo glut. So why the Everything's-Coming-Up-Roses lead in?

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Housing market news is the focus of the (Un)Real Estate blog. It offers an inside look at the Florida housing market and real estate news, with a focus on Tampa Bay. Its goal? Simple: To help you keep a roof over your head without losing your shirt.

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