Top > Business > 2006 > March > 2006-03-15

Bringing Back the Central Florida Real Estate Business

Florida used to be the best in the business for buying and selling property. Everybody wanted to own, buy or sell a home in Florida because it meant a great long-term investment. However, it seems that this year the real-estate business in Central Florida dropped a bit, and in order to kick it back into high-gear one real-estate company is working hard.

This year`s stalled property market in Central Florida is starting to bring out some generous incentive deals from builders who already have plans for new home communities on the drawing board, and who now need to find buyers for them quickly before construction gets under way. Platinum Properties, developer of upscale Citrus Gardens in Orlando, made the first move at the weekend, but it is likely that other builders will follow their lead very soon.

Several ambitious plans for new vacation home communities that were put on the drawing board during the frantic seller`s market of the last two years are now at risk as buyers shy away from the area. For example, a buyer who purchases on Platinum Property`s new development at Citrus Gardens in Orlando, Florida, can get $15,000 back at closing. This is in addition to the incentives offered by the builders. Details of new incentives were announced by the developer of Citrus Gardens at the weekend.