Homestead Real Estate Will Rebound Again In 200

Category: Finance, Real Estate.

Situated in between Biscayne National Park and Everglades National Park, Homestead is a city in Miami- Dade County in Florida. The city s name has an interesting history and is derived from a path by the name of" Homesteader s Trail" , that was the only means to reach the place.

It lays to the north of Florida City and along with the latter form the greater Homestead- Florida City area. It is a small sized city with a comparatively large population of 54, 000 people. The Redlands are Homestead s premiere home development where in some places only one house is allowed to be built in a five acres lot. This is the last city south before reaching the Florida Keys. Located at 25" 28 16" N, 80" 28 5" W, the city has a total area of about 13 mi sq. Summers are extremely humid and hot with high temperatures while winters are mild and even cool when compared to nearby coastal regions.

Homestead has a humid subtropical climate and reminds one of the climates that is existent in Miami and the rest of the South Florida Metropolitan area. History bears witness to the fact that hurricanes have harmed the place the most. The place also came in way of Hurricane Katrina and Hurricane Wilma but they did not deal a major blow. Hurricane Andrew was the last major hurricane that hit the area and Homestead took more than five years to completely recuperate. The oldest city in Miami- Dade County has a well developed education system and lies within the Miami- Dade County Public Schools district. Miami- Dade College is located in this city.

There are a number of elementary and middle schools and two famous charter schools in the form of Keys Gate Charter School and Waterstone Charter School. There is a huge amount of undeveloped land in this city. The city of Homestead has many major attractions which are especially popular with tourists. The most famous farms are owned and operated by Manuel Diaz. Biscayne National Park, Fruit and Spice, Everglades Alligator Farm Park and Homestead Rodeo are some sites of interest. A botanical garden spread over an area of 32 acres, the Fruit and Spice Park is one of the greatest attractions in Homestead containing over 500 varieties of fruit, nut and spice trees.

The Biscayne National Park is famous for its scuba diving and snorkeling options and is a must- visit site for tourists. Another renowned tourist attraction in Homestead is the Monkey Jungle that has stood since 1933 and contains 400 primates of 30 different species. During the 1980 s this stature of Homestead deteriorated fast as most of the steel companies went overseas. The economy of Homestead some time ago was thriving since it was a major steel producer in the United States. The situation further worsened after Hurricane Andrew in 1992 swept away much of the commercial center of the city. More than 50% of the real estate in Homestead is owner occupied and about 40% are rented units.

The real estate market in Homestead is again picking up and prices are increasingly becoming more competitive. The market was very robust recently and thousands of new construction homes were built but now it has cooled. Average price of a single family home is$ 271, 000 and the average home age is 22 years. The Redlands and Nob Hill are among the more exclusive places to live in Homestead. Homestead real estate will rebound again in 200