This may not be news to those of us living in Central Florida right now, but Orlando is booming. Orlando is one of the fastest growing regions in the United States right now. According to the Metro Orlando Economic Development Commission, Orlando is in a great position for the future.
FEATURE: Florida’s economic engine continues to hum. In fact, a Torto Wheaton Research study predicted that job growth in Orlando during the next five years will occur at the third-fastest rate in the country. The study also indicates that Orlando has the strongest economy in the state and is the 13th strongest out of 361 metro areas in the country. If Florida were a country, it would have the 15th largest economy in the world and the eighth largest in the Western Hemisphere.
BENEFIT: Business leaders in Metro Orlando can rest assured that they are in a region with a solid economic base and room to grow. This also provides a sense of security that family members will find plenty of job opportunities in their respective fields. fDi magazine included the Metro Orlando region among its prestigious ranking of “North American Cities of the Future.” The strong economy in Metro Orlando has also allowed local companies to look at ways of expanding their options by adding new product lines or services. In the May 2007 issue of CNN’s Business 2.0 magazine, Orlando ranks as the #1 location for “America’s best jobs in the hottest markets.
What does this mean for homeowners? It means that this is the time to buy. More jobs means higher demands for housing which will drive prices higher. The strong growth in this region is the primary reason that we have seen such high appreciation of home values over the last 20 to 30 years, and the future will be no different.
Now is the time to take advantage of lower interest rates, Amendment 1, and decreased home price. I guarantee these prices will not last indefinitely. Central Florida is poised for growth, and now is the time to make your move.
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