Florida 'much more affordable now'

Britons are now able to buy in parts of Florida that were once out of reach for most, it has been stated.

Annette Reeve of property firm Mayfair International Realty stated that one man who was keen to buy in Orlando because he was familiar with the city opted to go to Sarasota on the coast because it has now become affordable.

She noted that falling prices mean that while it is possible to get "a much nicer house in Orlando than you would have been able to four years ago", the appeal of places like Sarasota and Cocoa Beach is in their lower prices and the fact that they used to be too expensive.

Ms Reeve stated that Reno on the west coast is also offering good prospects because it has a very high rate of foreclosures.

Data from property research firm RealtyTrac revealed that Florida is still among the states with the most foreclosures, as one in 33 homes were subjected to a filing in the first six months of 2009.

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