Mr. Beat Kahli, Publisher of the East Orlando Sun, had an interesting editorial this week. In his article, Mr. Kahli references a book entitled, Today’s Hot Job Targets, that ranks Orlando as No. 2 in the U.S. for job opportunities. This is good news but, it gets better! There are more opportunities on the horizon. Mr. Kahli goes on to point out the job prospects due to the Burnham Institute, the VA hospital, the University of Central Florida’s College of Medicine and the UCF Technology Incubator. Each will help attract more employees to our area.
How does this affect real estate? Real estate is local. It can be as narrow as a subdivision, a zip code, or a defined area such as East Orlando. Real estate prices go hand-in-hand with job opportunities. When the local economy sustains a mix of job levels (hourly, blue collar, white collar), it helps to keep property values higher. I agree with Mr. Kahli that these businesses along with those who currently sustain us, will no-doubt bring a rise to property values in East Orlando!
Economic indications for us are good! The Orlando unemployment rate is at 3.4% (one of the lowest in the country), and we continue to have an influx of people relocating to this area to work and raise a family.
For those buyers looking at real estate as a long term investment, it makes sense to consider a home in East Orlando.
As always, I welcome your comments and feedback!