If you are dreaming of a second home in America this is the time to keep a check on the market as the slowdown in prices will eventually stop and you could be missing out on the turn. Saying that the USA will always pull in buyers whatever the price as many buy just for pleasure and not as investments.

Florida, knicknamed 'The Sunshine State' remains a very popular place for European investors, benefiting from the rental opportunities created by Disney World, year-round good weather and easy access from Europe and Espaecially the UK.

If you need a mortgage to fund your American home, the decision on whether to buy or not may be taken out of your hands as credit is becoming hard to get hold of in Europe as well as the USA. mortgage availability from US banks for foreign nationals has become tighter and this has affected the short term market.

Saying that bargains are to be had and it pays to ask the question. We always recommend dealing with large developers in tight times as you can be more confident that any reservations will be dealt with in a professional manner and you have more assurity that you will get a quality product at the end of the day.

Companies like American Invesc who International Property Directory represents should be high on anyones short list.

Even if you have the funds for the deposit, interest rates are not cheap. Despite the US Federal Reserve rate being priced at 2 per cent, variable rates on home loans start from 7 per cent, while fixed rates are higher still.

Lenders will also be strict on the amount you can borrow, given your income. US banks base loan sizes on affordability models rather than the traditional income multiples employed by many UK lenders, where your salary is multiplied by three or four times.

Another very good company to look into is SH Communities who have a wide range of projects spread around Florida.