South of 49 is a good read.
I am in Florida (Orlando area) right now. Today I toured :
A 2900 sq. ft. brand new 2 storey home with jacuzzi and pool; all for $155,000.
2 beautiful newer condo`s, 3 bedroom, pool, games rooms, furnished. $70,000 each.
These were not short sales just bank owned.
I project a 2.5% CAP rate and a free vacation. A few headaches and some currency uncertainty. Not sure if Florida is for me right now...Also today there was a hurricane 30 minutes away and severe storm watch !
Some say the market is bottomed out in Florida. Others project a 20% or more drop in prices still this year. One thing I can tell you is that there is no shortage of inventory around here right now and no shortage in sight.
Good luck !
Scott