Monthly Archives: October 2008

Florida Real Estate Auction

British Homes Group of Orlando will be guiding real estate customers to auction on November 8th.  Although there will be many Orlando real estate deals to be had at auction, they are not of sub-par quality by any means.  Often times these auctions are a way for top developers to turn newly completed luxury communities into much-needed fast cash.

British Homes Group is prepared to help buyers through UK and US real estate law, immigration, tax, insurance and all aspects of buying a home in Florida.

The November 8th auction will feature a selection of properties from Ginn Resorts, a premier developer with many resort communities throughout the US and Florida.  Featured properties include:

This is an opportunity to find your dream home at some of the lowest prices around – auction properties can be half price or less off current values!  If your real estate bid is successful, your transaction could turn out to be the quickest, most hassle-free and best investment you’ll ever make!

Visit British Homes Group for more information about the upcoming Orlando real estate auction.

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search

Florida Real Estate Number One With Overseas Buyers

Recent statistics show that Florida accounted for an astounding 25.4 percent of foreign real estate buyers nationwide from May 08 to May 08.  This data comes from the National Association of Realtors Profile of International Home Buying Activity.  Distant spots two and three were taken by California and Arizona respectively with 8.9 percent and 8.7 percent of foreign buyers.

Brits especially are well positioned to find Florida dream homes and Orlando is their number one choice in Florida.  Disney’s tourism industry remains strong so the Orlando market has fared a little better than Florida’s southern counties.  There are still many incredible deals to be found in the area however.  According to NAR’s report, 43 percent of foreign investors buy US real estate with cash.  The United Kingdom came in second in the list of the top six countries (trumped only by the Canadians) investing in US real estate with an average purchase price of $350,000.  Interestingly enough 55 percent of foreign buyers purchase American homes as a primary residence, followed by 31.6 for vacation and investment and 13.4 for investment only.

Orlando’s British Homes Group is uniquely positioned to help buyers from the UK – their Orlando real estate team has both British and American professionals who are experts in both UK and US property purchase and financing procedures.  Through co-brokerage arrangements and the availability of the Florida Property Multilist, BHG has access to one of the largest property databases available in Florida.

Their British home loan division can also help the British home buyer with access to fixed and flexible mortgages in a variety of currencies.

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search

Orlando Medical Conventions and Tourism

Orlando is fast becoming the model destination for medical conferences and tourism.  The Medical City at Lake Nona is being put on the map with a trio of local area projects near completion: biotech research outfit The Burnham Institute, the Veterans Hospital and the University of Central Florida Medical School.  The area is fast attracting expert speakers and world-class medical training facilities.

What is medical tourism?  It’s the idea that people needing highly specialized procedures have the choice of where to go in the country to get care.  With expert facilities and doctors in the Orlando area, it is becoming a very viable option for those seeking the best in medical care.

Orlando is seeking to attract more health-care meetings and has assembled a group of high-level executives to further the initiative.  The medical meeting industry seems to be recession proof – the industry is incredibly resilient and has consistently increased at a growth rate of 3.4% a year.

Orlando offers the opportunity to pair educational conventions with leisure and family fun.  It’s the number one tourism destination in the world, and the perfect opportunity to find the best of both worlds.

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search 

Orlando Second Homes Market

The Orlando tourism marketplace claims an annual 48 million visitors.  Although Disney attracts a large part of those tourists, it is not Orlando’s only attraction – Universal Studios, Sea World, myriad golf opportunities, dining, hotels and other entertainment, the opportunities are endless!  This of course has created the perfect environment for second home sales to flourish.  Orlando real estate buyers are also tempted with the idea of short term rental income.  With such a healthy stream of visitors, the rental market is strong. 

Right now the strongest pull to the Orlando real estate market is affordability.  Many of the communities surrounding Disney are now much more attainable.  Celebration and Windermere are two communities with close proximity to the theme parks that offer buyers many options.  In Windermere you can find everything from a three bedroom townhouse in a non-gated community to a palatial single family retreat in a private, gated neighborhood.

Neighborhood Spotlight:

Reunion by Ginn Resorts - November 8th Reunion Real Estate Auction
Just six miles from Disney World, Reunion is a 2,300 acre master planned community.  This gated community features more than 2,000 units (including single family homes, condos and townhomes), three golf courses, a water park, delectable restaurants, plus luxurious spa and fitness facilities.

 

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search 

Orlando Home Sales Increase 38%

According to the Orlando Regional Realtor Association, September brings a 38% increase in existing home sales!  Although this is great news and further indication of a market turn around, Orlando area home values have continued to decline somewhat.  September resales for 2008 were 1,335 homes as compared to last year’s 970 sales during the same period.  The median sales price for Orlando home resales was $182,000 – 9% less than that of August 2008.  Sales increases were evident in the four major Orlando counties with the highest increase being a 72% yearly jump in Osceola County.  Orange County followed with a 54% increase over 2007 numbers.  Seminole and Lake counties followed with 7.35 and 7.66 percent jumps respectively. 

Another positive market indicator for Orlando real estate is the month over month increase in pending contracts/sales.  September showed a 62% increase in homes under contract as compared to August – this is a reliable predictor of future sales activity.  Here are a few more Orlando real estate market statistics from September 2008:

  • Average Days on Market: 113
  • Average Home Sold for 94% of its listing price
  • Total homes available from the MLS in September: 24,690 (a 6.16% decrease from 9/07)
  • 144 more homes left the market than entered from 8/08 to 9/08
  • During September of 2008: 116 condos were sold and 98 duplexes, townhomes or villas

While this spike could be influenced by foreclosures and REOs, we are optimistic about the general market uptick.

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search