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&
WATERSIDE COMMUNITY,
VERO BEACH, FLORIDA IS THE PLACE.
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These reports not only promoted the real estate market, it also promoted the
beauty and affordability of Florida. Both reports have been broadcasted
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several times nationwide in Germany on VOX TV in September and early
October.
This media interest has triggered a huge amount of e-mails and calls from
German viewers and it will definitely lure more buyers and tourists to Florida.
The rate of forced sales suggests the answer is yes, although the
strengthening US dollar and uncertain capital gains mean it's not quite a
foreign buyer's bonanza.
Already, 2.2 per cent of all US homes are in the foreclosure process,
according to foreclosures.com. The Wall Street Journal predicted this week
that there could be 1 million foreclosed properties on the US market by the
end of the year.
Surprisingly, Florida ranks high among the states with significant rates of
negative equity and foreclosures, and not just in the poorer areas. Fort
Lauderdale and Coral Gables in west Miami have a surplus of large family
homes in urgent sales. [In Vero Beach, Florida foreclosures are rare,
attesting to the quality of living on the “Treasure Coast.”]
"I expect the bottom is very near," said Fort Lauderdale agent John
Sabia. "It is expected that foreclosures will continue to rise into early 2009
and then begin to trim and decline as we move through the year."
California also had high rates of foreclosures, but mostly in the lower socio-
economic towns between Merced and Stockton, inland from San Francisco.
"It could still go down a little more, maybe 5 or 10 per cent. But if we
do go down, I expect it will go back up real fast. Once the credit
market thing figures itself out and we get a new President, I think
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things will really get better. I feel we’re at the epicentre of the storm
right now."
He said the prices would stay low through 2009, and would not rise until
banks were able to start lending again.
Here are the key elements that will be put in place first:
Nine of the largest banks have agreed to be the first institutions in which the
government takes a stake. But the program will be available potentially to
thousands of banks.
The government may take senior preferred shares up to the lesser of $25
billion or 3% of the bank's risk-weighted assets.
The stakes will come largely in the form of non-voting shares and may be
sold to a third-party if the government wishes.
The shares will pay 5% a year in dividends for the first five years and 9%
after that. The increase in the dividend may serve as incentive for the banks
- if they have the private capital to do it - to buy back the government's
shares before the five years are up.
The government will also receive warrants to buy additional shares worth up
to 15% of the preferred stock it buys. The strike price for Uncle Sam: the
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average price the stock was selling for over the 20-day period preceding the
government's purchase of preferred shares.
Given the battering bank shares have taken in the past week, if the
government exercises its warrants soon, it is likely to make a profit from its
investment in the first nine banks in the program, said Jaret Seiberg,
financial services analyst at The Stanford Group, a policy research firm.
The intent is to give confidence to the buyers of bank debt that they will get
paid back no matter what.
The program will be paid for by user fees imposed on banks. No taxpayer
dollars or dollars from the FDIC insurance fund will be used.
The program will be paid for by user fees that are part of the premium the
bank pays the FDIC to insure deposits. No taxpayer dollars or dollars from
the FDIC insurance fund will be used.
4
The commercial paper market, which has been sharply curtailed in recent
weeks, is the prime source of funding used to cover operating costs at many
of the nation's largest companies and financial institutions.
The program would begin on Oct. 27 and would remain in effect until April
30, 2009.
The intent of the program is to guarantee there will be a buyer of the debt,
which in turn will make private-sector buyers more confident that they will
get paid back if they, too, buy a company's short-term debt. That's because
the company pays back debt holders by issuing new commercial paper.
The rationale: Banks are having a hard time attracting capital because there
is concern that they may be holding so-called "toxic" assets. Those assets
have underlying value but no one has known how to price them in the wake
of the housing crisis.
The four major steps the government announced on Tuesday do not preclude
the Treasury from pursuing its asset-purchase option. Indeed, Treasury and
White House officials have indicated they are still working on structuring a
program to buy troubled assets, which the government could hold until the
market recovers and then sell back to investors at a profit. But it clearly isn't
going to be the first effort out of the gate.
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Aug. 14, 2008 (CNBC) – U.S. New Home and Preconstruction Prices
Have BOTTOMED!
The index of pending home resales rose 5.3 percent after a revised 4.9
percent decline in May, the National Association of Realtors said today in
Washington.
The measure increased in all four regions of the country from May, led by a
9.3 percent gain in the South. Purchase contracts also rose 4.6 percent in
the West, 3.4 percent in the Northeast and 1.3 percent in the Midwest.
Compared with a year ago, contract signings remained down in all four
regions.
Gains Broadening
Economists had projected the index would fall 1 percent after a previously
reported 4.7 percent decrease in May, according to the median of 37
forecasts in a Bloomberg News survey. The June gain is the third this year.
Decade Low
The group's figures on July existing home sales are due Aug. 25. Purchases
in June fell 2.6 percent to a 4.86 million annual pace, the lowest level in
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a decade, from a 4.99 million rate the prior month. The median home
price in June was $215,100, down 6.1 percent from the same month
last year.
New York, NY (AHN) - The housing market may not be driving the U.S.
economy in to the recession, after all.
The report showed that its seasonally adjusted index of pending sales for
existing homes increased to 89, compared to the reading of 84.5 in the
month of May.
The market analysts had expected the NAR's Pending Home Sales Index to
dropped to 84.3 in the month of June.
The NAR's index, which was down to a record low of 83 in March this
year, was at 101.4 in June 2007.
In the Northeast in the month of June the index was up by 3.4 percent. The
index increased by 1.3 percent in the Midwest, 4.6 percent in the West and
9.3 percent in the South of the U.S.
Despite the monthly gains, all four regions remain below year-ago levels, as
the June index was 12 percent down.
7
NOW IS THE PERFECT TIME TO BUY REAL ESTATE
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The U.S. Senate voted 72 to 13 in favor of the bill that offers up to $300
billion in loan guarantees for homeowners to get cheaper loans.
The new law will also be used to rescue the beleaguered firms, Fannie Mae
and Freddie Mac, which have found difficult to raise fresh capital enough to
shore up its weakened balance sheet.
The housing legislation, which is the second major step by the Bush
administration after economy stimulus package in tax rebates, is aimed to
help hundreds of thousands of families from losing their homes to
foreclosure.
The new law signed by President Bush last week include a $7,500 tax
credit for first-time homebuyers, which is likely to improve the
housing market.
• Help to Fannie Mae and Freddie Mac from the Treasury if they need
it. (Together with a supposedly stronger regulator)
• Refinancing help for homeowners under stress from the FHA.
• Grants for municipalities to buy abandoned properties.
• Housing tax breaks, including a credit to first time buyers.
• Money for pre-foreclosure counseling and legal services.
• Some profits from Fannie and Freddie will build affordable rental
housing.
By PAUL GORES
[email protected]
Posted: Aug. 7, 2008
The weak real estate market received a dose of good news Thursday
when a report showed pending sales of homes in the U.S. took an
unexpected jump.
8
The National Association of Realtors’ index of pending home sales
rose 5.3% in June after a 4.9% slide in May. Economists had
projected the index would fall 1%. Pending home sales are those on
which the seller has accepted an offer but the transaction hasn’t yet closed.
“On the demand side, what’s really been active is housing under
$300,000,” Ruzicka said, adding that he was optimistic about sales picking
up in the second half of this year and next spring.
“I was shocked at how many Realtors, in the first couple days, got calls
from buyers saying, ‘We heard about the $7,500 tax credit, and we
want to start looking at houses,’ ” Ruzicka said.
9
First-time homebuyers have a $7,500 incentive to buy a house, but here's
the kicker: For the purposes of the new federal housing stimulus bill, a "first-
time" homebuyer is anyone who has not owned a house in the past three
years.
Key elements of the legislation signed by President Bush in late July include:
When the real estate market comes back, it will not be with a sonic
boom. It is likely to be subtle, below the public's radar. The revival will
probably begin in the areas hit hardest by the bust: in Florida, Las
Vegas, and the honeycombed tracts that flank the broad freeways east of Los
Angeles known as the Inland Empire. (Indeed, home sales in Southern
California surged 22% from March to April, hitting their highest levels since
August.) Why will housing come back? For a reason as solid as floor joists;
the entry-level buyer, for the first time in years, is finding that
owning a new house is suddenly just as cheap as renting. "Those first-
time buyers got locked out by high prices," says John Karevoll of DataQuick,
a research firm that assembles data on the U.S. real estate market. "Now
the buying activity that was on hold is starting to come back."
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In hindsight, the reason for the current malaise is simple: too few buyers. By
2007 more and more people were frozen out of the market - especially the
entry-level buyers, who now account for as much as 30% of new-home sales.
From 2005 to 2006 some first-timers rushed to purchase homes they
couldn't afford with the help of exotic loans. But another big group of
consumers steered clear and are finally looking to buy. Now that prices of
new houses have fallen as much as 30% they are returning -
prompting a turning point in the housing cycle. Call it the New
Affordability.
Today's buyers are willing to trade size and amenities for far lower prices. But
they're extremely specific about what they want to keep. Buyers welcome
houses half as big as the models that reigned at the peak, as long as they
offer plenty of bedrooms. They also don't miss the formal living and dining
rooms if a "great room" combines the two in one open space that includes a
generous-sized kitchen.
Bargain-hunters are drawn to these smaller houses, which look just like the
behemoths built in 2005 and 2006; right next to them are new houses with
exactly the same 50-foot façades- and a big difference you don't notice from
the street: They're about half as deep and roughly 2,000 square feet. Those
homes preserve the community's curb appeal by keeping the façades looking
similar and sumptuous. But purchasers love that the new homes boast five
bedrooms, and they especially appreciate the price tag: about $220,000, vs.
$420,000 for the big neighboring homes built at the peak (and that now sell
for around $300,000). Over time this New Affordability may swell the ranks
of buyers. "What's been killing the market is people who are waiting
to buy or incapable of getting financing," says Jonathan Dienhart of Hanley
Wood Market Intelligence, a residential real estate research firm.
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Today both land and construction costs are falling rapidly. In Florida,
construction costs for a 2,000-square-foot home have dropped to
$80,000, vs. $100,000 at the peak, a 20% reduction. The result is
that the average sales price there has fallen from $275,000 to
$215,000.
Consumer prices were 5% higher than a year ago and rose 1.1% on a
monthly basis, the Labor Department said.
Federal Reserve boss Ben Bernanke has warned that the threat of rising
inflation has intensified recently.
Minutes from the Fed's latest meeting on interest rates indicated the
next move in borrowing costs could be up.
It faces the dilemma of having to stem the rise in inflation while not further
choking an economy under serious strain.
'Fed in a hole'
June's annual inflation increase was the highest since 1991 while the monthly
jump is the sharpest since September 2005.
In his second day of congressional testimony on Wednesday, the Fed boss
said inflation was too high and it was a key objective for the central
bank to bring it down.
Many analysts now believe that the central bank may have to leave
borrowing costs on hold, or even increase them, as it tries to steer a faltering
economy through turbulent times.
At the same time as inflationary pressures are rising, the US faces a severe
housing slump, a credit crunch and financial market turmoil stemming from
the collapse of the sub-prime mortgage market.
According to minutes of the Fed's interest rate meeting in June,
policymakers believed "the next change in the stance of policy could
well be an increase" due to "upside risks to inflation and inflation
expectations".
The cost of taking out a mortgage in the US has climbed again due to
fears over the fate of two huge lenders, according to The New York
Times.
The interest rate on an average 30-year fixed rate mortgage rose to
6.71% from 6.44% on Friday, HSH Associates says.
And rates on loans of $729,750 or more hit 7.8%, the most since
December 2000.
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[Rising interest rates trump declining property values, if in fact there
is any further declining. Strength of the USD will shrink the spread
of the dollar vs. the euro.]
Let’s take a look at some of the opportunities and positive indicators for the
future of Florida’s real estate market.
2. People continue to move here. It’s estimated that 900 people move
here every day. Based on recent trends, Stan Smith, director of UF
Bureau of Economic and Business Research, said he expects Florida
to add about 300,000 residents a year during the next two to
three years.
3. Five of the top 15 cities in the Milken Institute’s 2007 “Best Performing
Cities” survey, which looks at sustainable economic growth, are in
Florida, including the No. 1 city, Ocala. A total of 13 Florida cities are in
the top 50.
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5. Jobs are plentiful, and that trend will continue. A recent study by
Bizjournals called “Where the Jobs Are” found that 7 of the hottest
15 job markets are in Florida.
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10.Homeownership has value: Realtors believe… and research supports
that belief … that homeownership provides a variety of benefits,
tangible and intangible, to the community as well as the individual
homeowner.
11.Studies show that home equity is still the largest single source of
household wealth, both for the individual homeowner and for
homeowners as a group. Home value is the most important single
aspect for homeowners.
17.Over the past five years, the average homeowner has seen an
increase of 50 percent in value, according to the National Association
of Realtors® (NAR). Here in Florida, the statewide median home
price has shown an increase of 52.5 percent from November
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2002 to November 2007, according to FAR records. NAR housing
industry analysts project that prices will rise about 2 percent next year,
and in coming years, average home price appreciation should return to
historical averages of around 6 percent.
20.And let’s not forget the things that brought people to Florida in the
first place, and will continue to attract them – beautiful beaches,
fabulous weather and a friendly business climate, with no state
income tax. It’s no wonder that Florida’s combination of temperate
climate, outstanding recreational amenities and economic opportunity
has consistently put us at the top of Harris Poll’s “most desirable
places to live” survey.
Inventory: Conditions are ideal for buyers to find their dream home.
Inventory is plentiful. In Florida’s three largest markets alone, more than
125,000 homes were for sale at year’s end in 2007. Even with these high
inventory levels, economists predict that number will go down in 2008 –
which, of course, is another great reason to buy now.
16
Do the numbers
17
6 Dec 2008 1.480 0.053 0.088
[email protected]
Florida remains by far the most popular location for foreign buyers of
real estate, accounting for 25.4 percent of all international purchases
in the United States.
However, the number of foreign buyers nationwide declined over the past
year, reflecting the deep U.S. housing slump, a new study released Thursday
by the National Association of Realtors said.
The profile of international home buying activity said that ``foreign
buyers -- like U.S. buyers -- may be waiting for home prices to
continue to decline in order to purchase a property at a lower price.''
[The spur under the saddle of that philosophy is rising interest rates.
Even if the Fed drops interest rates again in the future, the banks
will not. Borrowers are not only going to find money harder to
borrow, but also more expensive to borrow. If property values drop
another $10,000 to $20,000, rising interest rates will gobble that
that up in no time. So the real impetus to buy now is low prices
combined with low interest rates. As the Fed moves to wrangle-in
inflation, interest rates will rise. And let us not forget the Dollar vs.
the Euro. NOW IS THE TIME TO BUY.]
Despite the current downturn, 35.5 percent of Florida Realtors surveyed
said their international business has grown in the past five years, the
report said. Some 52.6 percent in Florida reported their foreign business
remained about the same, and only 11.8 percent indicated foreign business
had decreased.
Thirty-eight percent of the Realtors thought the weak dollar was having
a significant impact on foreign buyers looking in the United States,
the study said.
But there were also some factors putting the brakes on U.S. purchases.
'While U.S. real estate is still considered a `safe haven' for foreign funds,
there are some perceived impediments to foreign purchases
including cost of property, immigration laws, and property taxes,'' the
report said.
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Crist, Florida’s Govenor, said he plans to cut Florida property taxes in
exchange for a higher sales tax. State officials said the $8 billion cut should
be made up by raising sales tax by a penny.
While homes may be selling slowly in Florida, the fact remains that homes
in the Sunshine State are selling, and that’s good news. As Florida
economist Stan Geberer recently said in various media reports: “If we had all
this excess inventory and nobody wanted to move here, you wouldn't be able
to sell the homes at any price. The fact that we have underlying demand
and new job growth suggests this underlying demand is sufficient to
clear the excess inventory without a dramatic collapse in prices.”
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“Florida will continue to lure retirees and entrepreneurs looking for a warm
climate where they can enjoy an active lifestyle,” says Linda C. Loomis, sales
associate, John R. Wood Inc./Realtors® in Naples. “With golf, boating,
fishing, tennis, beach going, swimming and a host of other outdoor activities
at their doorstep, Florida offers a healthy and appealing lifestyle.”
In the real estate sector, Snaith notes, rising prices on Florida’s coasts
are shifting historic migration patterns toward the center of the
state. “People are still coming to Florida,” he says, “but it’s the interior
counties that are most likely to attract new residents and businesses.”
Orlando
“There are several big expansion projects that will be factors next year,
producing demand for housing and bringing more people to the region, which
remains relatively inexpensive,” Crocco says.
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Orlando officials recently approved plans for a new performing arts center, a
new basketball arena for the Orlando Magic and major renovations to the
Citrus Bowl. In addition, an 18-story hotel has been proposed for the
redevelopment of Church Street Station in downtown Orlando. “Those new
venues add to the desirability of the greater Orlando area,” Martin says,
noting the fundamental appeal of the region’s tourism sector.
Naples/Fort Myers
Another hot spot in the state’s economy will be the Naples–Marco Island
metro market. “This area will experience very strong growth in average
annual wage, and it will be one of few areas to experience positive housing
starts,” says Snaith.
From the real estate perspective, Loomis says, “The area’s phenomenal job
growth will stimulate net migration and long-term demographics, which in
turn, will positively impact the housing market.”
One of the state’s most dynamic submarkets is northern Palm Beach County,
which is beginning to enjoy the benefits of a growing biotechnology
cluster focused on Scripps Florida in Jupiter.
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“If you look at the big suburban office nodes on I-95—Fort Lauderdale,
Cypress Creek, Boca Raton, West Palm Beach and PGA Boulevard—you’ll see
the next one will be in Port St. Lucie,” he says. “Some of the residential
builders got ahead of themselves, but the strength of demand and a drop in
new construction will help absorb the excess inventory in 2008. This is a
market to watch for the future.”
Along with new jobs and development, the region will also benefit from the
timeless appeal of its warm-weather lifestyle. As Marc Blasi, sales associate
with Luxury Homes Florida, Palm Beach, says, “Unless people stop
boating, fishing, playing golf or just lying on the beach, I think we’re
pretty safe down here real estate–wise.”
Population:
2006 – 131,000
2011 – 147,000
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Is 'Net Powering Real Estate Recovery?
NAR, one of the largest trade groups in the U.S., said that the current
growth trend could be bolstered by a tax credit now available to first-
time home buyers and a Federal law that makes it easier to secure
lower mortgages for more expensive homes.
But there is another less-obvious factor playing into the recovery. The easy
availability of real estate data on the Internet is changing consumer
behavior patterns, according to NAR, and that had some effect on the
downturn and it is influencing the recovery.
“In the past people would buy a new home because they had an additional
child or for some other life-changing reason, but people are now market-
timing their purchases,” said Lawrence Yun, NAR's chief economist. “This
can affect both a downturn and a recovery.”
Good and bad news now travels much faster and farther because even
homeowners who are not planning to sell their homes are keeping tabs on
both the current value of their homes and the nationwide housing market.
“There must always be caution when reading monthly data because of the
bouncing around, but the June increase was much larger than recent
months and given the availability of tax credits and lower interest
rates, we believe it will be sustained,” Mr Yun said.
Analyst Greg Sterling said that online real estate firms are having only a
marginal effect on the economics of the industry, perhaps accelerating
consumer trends, but the major trends are still being governed by
demand and supply.
“The data available online may factor into consumer perceptions but the
market is moved by things like the availability of attractive
financing,” said Mr. Sterling, an analyst with Sterling Market Intelligence.
“But over time the Internet will play a bigger role as consumer
perceptions become more central to the economics of the real estate
market.”
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enjoys an international reputation among vacationers and business
executives alike. With a quality of life unique even to Florida, Indian
River County is where lifestyle and work style unite to create a highly
productive and profitable environment.
Centrally located 75 miles south of the Kennedy Space Center and 135
miles north of Miami, our 543 square miles contain beautiful beaches,
immaculate ocean and river front communities and endless groves of
renowned Indian River oranges and grapefruit.
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In addition to its beaches and waters for swimming, scuba diving, boating,
fishing, and other water sports, Indian River County's parks offer countless
opportunities for recreation and enjoying the outdoors. Five public golf
courses allow for all levels of play and tennis facilities are widely available.
Add Holman Stadium, the 6,500 seat Spring Training home of the Devil Rays,
and a host of museums, theaters, restaurants, night spots, and shopping
areas, and you have the makings for an incomparable vacation.
Vero Beach
The City of Vero Beach is the county seat and the largest incorporated
municipality with an estimated population of more than 17,700. Greenery,
open space, unspoiled beaches, and ocean vistas characterize this
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community which is the commercial and cultural center of the county.
Originally a stop on the Florida East Coast Railroad, Vero Beach was
incorporated in 1910. The city is under a council-manager form of
government. More information about the City of Vero Beach government can
be found at www.covb.org
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Participation in the Florida Qualified Target Industry Tax Refund Program
Enterprise Zone Program tax benefits for businesses located within the Zone
Business can receive a tax refund of up to $5,000 per new job created,
$8,000 if located in the Enterprise Zone.
Business must pay an average wage of at least 115% of local average annual
wage.
Business must create at least 10 new jobs in any of the state’s target
industries. If an expansion, the expansion must result in at least a 10%
increase in the business’s employment. The county provides 20% match of
the total taxes refunded.
The Jobs Grant Program can apply to a company that creates 5 or more jobs
in the county’s target industries.
The salary or wage of each employee used to qualify the business for the
jobs grant program must equal at least 100% of the county’s average annual
wage.
Bonuses for hiring county residents, for higher than average salaries, and for
locating in an Enterprise Zone. Maximum grant to an individual company is
26
$500,000, except for the additional bonus to a business locating in an
Enterprise Zone. Details of terms and conditions available on request.
Job Tax Credit on Sales Tax or Corporate Tax for new jobs created in the
Enterprise Zone
Vero Beach, the county seat, has long been a popular resort area, attracting
thousands to Indian River County and the array of recreational and
entertainment pursuits it offers. Indian River County's allure as a light
industrial site is best demonstrated by the fact that virtually every
company that has located has done so due to their CEO’s positive
vacation experience. Companies are also attracted to Indian River
County because of our relatively low land costs and low labor costs,
and the absence of a state income tax.
Local Industry
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As a partner in the Research Coast Economic Development Coalition, Indian
River County represents a broad spectrum of industry. The New Piper
Aircraft, a leader in light aircraft manufacturing, has called Vero Beach home
since 1957. Macho Products, the largest U.S. producer of martial arts
protective gear, and Parker Products, the country’s leading manufacturer of
custom hoses, are but a few of other nationally known and respected
companies located here. High tech firms like e-Merge Interactive and M.C.
Miller Company, as well as scientific research entities such as Harbor Branch
Oceanographic Institute and Syngenta, bring the best and the brightest
employees to our area. A host of other well-known companies with facilities
here include Ocean Spray Cranberries, the Los Angeles Dodgers and Disney’s
Vero Beach Resort.
Infrastructure
Vero Beach Municipal Airport is a full service Fixed Base Operator with a
2133-meter runway. Catering primarily to private and corporate aircraft,
charter service is also available to other Florida markets and the Bahamas.
Daily commercial airline service direct to La Guardia and Atlanta is available
out of Melbourne International Airport, just 56 kilometers away.
Workforce/Training
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IRCC, in conjunction with Florida Atlantic University, offers many 4-year
degree programs as part of its innovative 2+2 Program.
For more information on locating your facility in Indian River County, Florida
please visit our website at www.indianriverchamber.com
Local people are often surprised to learn that the third largest privately-
owned company in Florida is headquartered here in Vero Beach. In the high-
profile corporate world it is nice to blend in and become part of the
community’s ambience.
Chief Financial Officer, George E. Warren Corporation
I have looked all over Florida the past five years for the ideal spot to relocate
my New Jersey-based test equipment manufacturing business. When I
decided on Vero Beach, the rest was easy. I quickly found the right location
and had no problem recruiting people.
President, M. C. Miller Company
Imagine being a short drive from Florida’s aerospace and defense center, yet
far from the congestion and hectic pace it creates.
Vice President of Business Management, XL Vision
"I just fell in love with the area, I love the environmental consciousness.
There can be no high-rises. There's no shadow on the beach at 3 p.m. I'm a
nature girl. I'm a turtle girl. I can't tell you how many times I've been
involved in a tug-of-war with crabs trying to take baby turtles away. Of
course, I don't kill the crabs, but they know I mean business. I just love
being close to nature. That's why we're staying."
Gloria Estefan, hotel, Costa D'Este
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NOW IS THE PERFECT TIME TO BUY REAL ESTATE
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Money Magazine named Vero Beach one of the "Top Beach Towns"
and one of "The Best Places to Live on the Coast."
Other accolades for Vero Beach includes a #1 rank as "the best small
town in Florida and 12th in the nation" by America's Guide to Small
Towns. The artistic side of Vero Beach gained the town recognition
as one of the "top 10 art towns in the country."
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individual volunteerism contributes to the peaceful and idyllic lifestyle found
in Vero Beach and Indian River County.
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This quiet seaside village has evolved into an elegant and very
sophisticated community that has been called the “Florida Hamptons” and
the “New Palm Beach” as it has become the playground of some of the
wealthiest people in the world. It is the residential preference of more
retired Fortune 500 CEOs than anywhere else.
http://www.verobeachbusinessdirectory.com/?current=one
The tropical climate allows a large diversity in vegetation with colorful florals,
ancient oak trees, palms and a western landscape of pine forests as depicted
in Bean Backus paintings. The natural beauty of Vero Beach captivates
visitors and residents alike.
The pristine beaches along the Atlantic coastline offer wonderful sand,
surf and breathtaking sunrises. Recreational opportunities include swimming,
scuba diving, boating, fishing, surfing and other water sports. Beachgoers
will find several great family parks with playgrounds for the children and
pavilions for grilling, and picnics. Ocean front dining is plentiful with both
indoor or outdoor choices for casual and fine dining.
CNBC news recently cited Vero Beach as the 2nd strongest real
estate market in the country. Vero Beach’s appeal extends to its excellent
public and private school system, as well as a strong economy and vibrant
business and industry. The influx of research institutions is changing
the face of the job market.
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Vero Beach, “The Gateway to The Tropics” and “The Jewel of The
Treasure Coast,” is the finest and most beautiful of Florida’s finite
coastal communities.
www.affordable-custom-homes.com
WATERSIDE, www.affordable-custom-homes.com, a community of
environmentally friendly affordable custom homes. The homes include
features usually seen in more expensive homes such as granite countertops
in baths and kitchens, ceramic tile in kitchens, baths and foyer, volume and
tray ceilings to give the feel of openness and space, a selection of beautiful
light fixtures and more. We also provide a security system, metal storm
panels, upgraded landscaping, pavers in driveways and exquisite roof and
window designs. Past purchasers appreciate custom luxury for an affordable
price.
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www.affordable-custom-homes.com
772-774-8355
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