Hi,

I know Florida has seen some of the biggest drops in property prices over the past year or two. Looking on rightmove, there are many apparently decent sized 3 bedroom properties on sale for < $200k, though I'm assuming prices still have some way yet to fall. That being said, I'm wondering if it might be a good place to buy a rental property in a few months time, either near Orlando/Kissimee or somewhere along the Gulf Coast.

I'd appreciate your opinions, particularly with regards to whether there is oversupply, rental yields, good areas etc.

Thanks a lot,

daddyg

Hello daddyg,
I recently read an article by Bill Gross in which he says that US properties will be 10% cheaper come January 2009. It's well worth a read and is on the PIMCO website. I would argue that he is probably the most influential figure in the global financial markets.
My personal opinion -there is no reason to rush. You've got a least a few years to hunt for a bargain. The only people that would rush you into a purchase are the commission hungry EAs.