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As the Sunshine State continues to attract newcomers and investors, its important to separate fact from fiction.
GOBankingRates spoke with top real estate experts to debunk some of the most persistent myths about Floridas housing market.
Here are thefacts about the myths straight from the realtors mouths.
This fear appears to come from the 2008 financial crisis, which hit Florida particularly hard.
However, todays market stands on much firmer ground.
Todays market is built on much stronger foundations.
Stringent lending practices, a robust economy and steady population growth have made the market more resilient.
Craig Studnicky, founder and CEO ofISG World, added even more nuance, especially about the condo market.
Despite the national headlines about Floridas condo market crisis, not all condos are losing value, he said.
But this, too, is a myth!
The market offers something for everyone, Mendel said.
There arenumerous affordable neighborhoodsthroughout the state, particularly in inland areas or smaller towns.
You cant look at Florida as one market, she said.
Floridas homestead exemption also provides relief to homeowners, reducing the taxable value of your primary residence.
However, Herman warned newcomers that there might be some other surprise expenses.
Skyrocketing insurance policies have made these areas cost-prohibitive for many buyers.
The experts we talked to said this couldnt be further from the truth.
Cities like Miami, Orlando and Tampa have particularly strong rental markets.
Whether youre looking at short-term vacation rentals or long-term leases, investing in rental properties can be quite profitable.
Agents provide insights into neighborhood trends, help with negotiations and navigate the legal complexities ofreal estate transactions.
This is not true, she said.
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