Great Blue Heron Enjoys Amelia Island, As Do Snowbirds
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They occupy golf courses and RV parks and oceanfront condominiums, and provide a seasonal boost to local economies -- including in Nassau County.
They are snowbirds. They are mostly retired, mostly wealthy, and mostly good for a state weakened by the worst recession in decades. Their impact is being especially felt this year.
According to The Tampa Tribune, snowbirds are also capitalizing on lower real estate prices and buying properties this year. And the snowbird population is reportedly higher this year overall, especially in South Florida.
The snowbirds are also showing up earlier this year -- especially from Canada. The Canadians are empowered by a stronger currency in relation to the U.S. dollar, which allows them to get more for their native money. And the strengthened Canadian currency is being spent on meals at restaurants and on rounds of golf -- and on discounted properties.
According to the National Association of Realtors, Canadians bought more than 40,000 homes in the U.S. in 2008. In fact, one-fourth of all international home buyers were from Canada last year.
It is difficult to ascertain how many snowbirds from Canada, as well as from northern states such as Michigan and Ohio, visit Florida each year. The numbers are difficult to tally. However, local residents can see and feel their impact.
Here on Amelia Island, special golf leagues have been arranged for years for Canadian visitors. These snowbirds and others like them help the local economy by spending money during the winter season, which normally suffers from a lack of tourism.
The category of snowbirds does not include Florida residents who go north during the summer to escape the heat. Snowbirds are residents of other states or countries who come here in winter. More of them are buying properties in Florida now instead of renting vacation homes or touring in motor homes.
A University of Florida report estimated that there were more than 800,000 snowbirds in the state during the peak of winter in 2005. Other studies and reports are sporadic since then.
Snowbirds from the northeastern states and the eastern part of Canada appear to favor Florida over rival warm-weather states such as Arizona, Texas and California. Some of this is apparently due to the proximity of Florida; however, some contend the favoritism is due to Florida’s amenities and beaches, as well as the attractive real estate prices of the last two years.
These other states are not willing to concede the battle to attract the snowbird segment. They are reportedly fighting back with advertising campaigns highlighting the fact that part-time homeowners in Florida (who are not homesteaded) pay higher taxes than permanent residents.
Steve Nicklas
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(Steve Nicklas is a financial advisor who lives on Amelia Island. He can be reached at 904-753-0236 or send an eMail to: thenicklasteam2@msn.com.)