Downtown Orlando Redevelopment

Downtown Orlando skyline is still changing and will be announcing $100 million project that would add hotel, office space, shops, and condo tower. This will be on 2.2 acres site located corner of Rosaling Avenue and Pine Street. Orlando is the most vibrant downtown in the country with 57,000 people working downtown. Courtesy Orlando Sentinel 4/26/06.

Nation Home Sales

Nationwide the record of unsold homes has hit record, even though sales last month reached .03%. National average price of a new home rose to $218,000 last month which is 7.4% gain from a year ago. February and March increase in sales, after a 5 month decline, offer signs to analyst the market is stablizing. Courtesy of Orlando Sentinel 4/25/06.

Orlando Condo Sales Up, Home Sales Down

Condo sales have increased 158% compared to March 2005, while single family homes were down by 9%. The first quarter of 2006 sales overall were up by 9.1%. Single family homes were down by 7.8% and condos were up by 145.7%. Condos are an affordable option for home buyers and downtown condos remain solid as it is a popular place to live. Single family homes have slowed for several reasons, now there is approximately 15,000 homes on the market, which means competition amongest sellers are strong. Sellers are becoming more flexible with negotiating repairs and allow contingencies on contracts. Courtesy of Orlando Sentinel 4/20/06.

Fake Lakes A Draw for Home Buyers and Developers

Orlando builders are finding it difficult to buy land on natural lakes. To fix that problem, builders are creating their own lakes. These fake lakes have deemed a viable solution for this shortage problem and it has not stop residents in well known Winderemere and Keenes Pointe to take interest as well as prominent business people and celebrities. Savona a new luxury, a conceierge community, development boasts it man made lake, but lends itself to the view and non-mortorized boats. Another community being developed is The Gardens at Village of Windermere a 120 home development built around 2 man made lakes. The draw for buyers is the view of course, and the privacy it allows without backing up to another home. Courtsey of Orlando Sentinel 4/18/06.

Orlando Home Value Weathering Better Than Some

Orlando home values have a better chance of riding out the real estate bubble compared to 50 biggest metro cities nationwide, and far better than Tampa, Ft. Lauderdale, and Miami. Orlando will do well because of its tourism and population growth, which is unique aspect compare to other cities. The nations price decline is expected in the second home and vacation home market, even though Orlando has seen some dips, vacation home definitions do not match nationwide wide statistics. Baby Boomers will keep the vacation market strong in Orlando, but the investment market will expect to decline. Courtesy of Orlando Sentinel 4/14/06.

Winter Park Downtown Project on Hold

Winter Park Florida one of the desireable city to live in Central Florida has been battling redevelopment projects in down town Winter Park. Recently, Central Park Station Partner who is redeveloping the area where the post office remains, is in dispute with the City that they have complied with all of the their requirments and want the City to sign off on their contract. In addition, the non-profit opposition group suited Central Park Station Partner and got thrown out of court as their complaints were not supported and premature. Courtesy of Orlando Sentinel 4/13/06.

What Up with Orlando Million Dollar Homes

During the past 3 years ales of single family home priced $1 million + has increased to 270% in metro Orlando. These million + priced homes account for less than 1 precent of all existing homes sales in the region. In Orange, Seminole, Osceola, and Lake County a total of 448 homes sold for $1 million +, which was up 34% compared to 2003. Courtesy of Orlando Sentinel 4/11/06.

Revitalization of 17-92

Much of new growth of Orlando is being built out and now the focus is the older areas. On main road that passes along many metro Orlando cities is US Highway 17-92. US highway 17-92 is a major road extending from Orlando to Sanford is seeing a "face lift" a after time the government has been trying to clean out the undesireable businesses. This revitalization is to create more appeal in the metro area. Some of the projects are 20 story condominium building along Lake Monroe in Sanford, a proposed high density project in Seminole County just beyond Maitland, widen side walks along Winter Park to become more pedestrian friendly. Downtown centers being proposed in city cores of Maitland and Casselberry. A mixed use development is planned with condos, rentail, and office space at the intersection of Mills and Nebraska Lumber yard. Other changes new off Ramp to Maitland Blvd, Longwood seeing 6 lanes, driving overpass between 17-92 and SR 436, new street lights and brick paved side walks along Fern Park. Courtesy of Orlando Sentinel 4/10/06.

Insurers Seeing Increases After Hurricanes

Home owners insurance rates increases are a statewide problem as a result of several hurricanes that devastated many areas in Florida. As a result, insurance companies are passing along the high cost along to home owners in their premiums. On Tuesday Govenor Jeb Bush tack on 2.8 percent surcharge to every home owner policy statewide, to help pay for the billion dollars in damage. Last year a surcharge of 6.8 percent was added because of a state wide insurer of last resort, to help with their losses. And 11 percent is proposed again for 2006. Bush is proposing to help with skyrocketing premiums by using $6 billion surplus.

Do I Rebuild or Buy?

Orlando housing prices have increased significantly that home owners are finding it diffcult to buy within Orlando. Many home owners could not afford to buy the same home in the neighborhood they live in today. Not only have sales prices of home increased, but taxes as well. Each time title changing from a seller to new home owner, the property becomes reassessed to for new property taxes. The trend of tearing down homes and building or remodeling has been occurred for a decade in Winter Park is spreading to Winderemere and other desireable neighborhoods. You may find you may not want to buy but to built the home you have always wanted.

Orlando Condo-Hotel: A New Type of Housing

With Orlando being the number one tourist destination in the world its no wonder Orlando is seeing the emergence of condo-hotels being constructed. Orlando is projected to have 38,000 hotel-condo units and 5,600 are on the drawing board. These condo units are sold like a normal condo purchase, but act as a hotel. The time you are not a resident it can be rented like a hotel room. This income may offset your expenses. If a potential buyer is doing financing most lenders require 20-30% down payment.