Monthly Archives: September 2010

Orlando Builder “Blow Out” Home Sale

ORLANDO BUILDER 48-HOUR “BLOW-OUT” SALE

We have just been advised (minutes ago!) that another major builder in Central Florida (and throughout the US) is conducting a 48-Hour “Blow Out” sale.

No time for “editorial”!

As the respected US national home builder announced today:

Save up to $50,000 on select homes!

Markdowns taken!

Nothing held back!

All offers considered!

COMMUNITY LOCATION LOT MODEL SQ. FT. BR/BA/GA PRICE

Camden Landing Townhomes at Wyndham Lakes Orlando F025 Lexington 1835 3/2.5/1 $142,490

Camden Landing Townhomes at Wyndham Lakes Orlando F026 Madison 1834 2/2.5/1 $142,240

Cypress Lakes Orlando 0181 Centennial 1573 4/2/2 $188,490

Cypress Lakes Orlando 0150 Columbus 1677 3/2/2 $200,990

Cypress Lakes Orlando 0103 Patriot 2529 4/3/2 $245,990

Heritage Hills Active Adult Clermont 2054 Hamilton 2032 4/3/2 $210,490

Heritage Hills Active Adult Clermont 2148 Hamilton 2032 4/3/2 $212,490

Heritage Hills Active Adult Villas Clermont 1303 St. Lucia 1400 2/Den2/2 $140,990

Townes at Independence Winter Garden 0915 Kenwood 1541 4/2.5/2 $164,990

Townes at Independence Winter Garden 0953 Landcaster 1993 3/2.5/2 $194,990

Independence Manor Homes Winter Garden 0647 Montara 1783 3/2/2 $200,490

Legacy Park Towne Manors Davenport 0130 Sea Breeze 1178 3/2.5/2 $109,990

Legacy Park Towne Estates Davenport 0006 Glenmoor 1533 2/2.5/1 $135,490

Legacy Park Towne Estates Davenport 0005 Hampton 1625 3/2.5/1 $137,590

Legends Golf & Country Club Clermont 1270 Vienna 3532 4/3/3 $265,490

Legends Golf & Country Club Clermont 1004 Alexandria 4846 5/Bonus/3/2 $302,490

Nona Terrace Towne Manors Orlando 0037 Bermuda 1560 3/2.5/1 $155,990

Nona Terrace Towne Manors Orlando 0035 Abalone 1600 3/2.5/1 $160,990

Sawgrass Bay Clermont 0037 Bonita 1866 4/3/2 $188,740

Somerset Landing Orlando 3111 Truman 3141 5/3.5/3 $287,490

Townes at Westyn Bay Winter Garden 0111 Abalore 1600 3/2.5/1 $143,490

Townes at Westyn Bay Winter Garden 0014 Captiva 1628 3/2.5/1 $149,990

Westbrook Townhomes Winter Garden U179 Tahoe 1659 3/2.5/2 $149,990

Paradise Palms Kissimmee J137 Sabal Palm 1740 3/3 $174,990

Housing demand about to take off?

William C. Wheaton, professor of economics at Massachusetts Institute of Technology, argues that the housing market is due for improvement, calling home construction, “a sleeping giant that is about to wake up.”

Wheaton believes because there has been so little construction that demand exceeds the level of building and it will soon absorb excess inventory.

“Housing construction will not only rise, but it will stay high for a while, which didn’t happen in previous recoveries,” Wheaton predicts.

Source: Fortune, Nin-Hai Tseng (09/2010)

Looking at buying a NEW home somewhere in Florida or like more information on any of the homes above? Use one of our easy contact links below.

Request more information on this home or submit a Custom Search Request

The BRITISH HOMES GROUP Florida

2960 Vineland Road

Info@britishhomesgroup.com or (+1) 407 396 9914

Central Florida Housing Market Update

Thank you to our friends at Stirling Sotheby’s for this latest Central Florida hosing market update.

updated January – August 2010 Central Florida Market Trends, which reflects a post mid-year market adjustment following the expiration of the Homebuyers Tax Credit. The following are highlights and market observations for August 2010:

· August single family sales have continued to decline from a mid-year June high of 1,934. August new home sales totaled 1,592, a 2.91% increase over August 2009.

· Condominium sales remain active with 629 condominium sales in August, a 43.28% increase over August 2009.

· Overall sales have gradually declined from a mid-year peak of 2,834. Overall reported sales in August 2010 were 2,429, a 10.91% increase over August 2009.

· New sales contracts filed in August 2010 totaled 3,892, representing a 17.09% increase over August 2009 and have showed a gradual upward trending since May 2010.

· Central Florida’s overall pending contracts dipped slightly in August 2010 to 8,945 homes under contract, which is 8.60% ahead of August 2009.

· All cash transactions continue to dominate with 51% of all closed sales in August 2010 closing for cash.

· In August 2010 there were 16,535 homes available for purchase through MLS. The overall inventory decreased by just 28 homes from July 2010. The August 2010 inventory level is 1.06% higher than it was in August 2009.

· Distressed sales, which include bank-owned properties and short sales, continue to be an active part of our overall Central Florida sales. The total number of distressed sales has remained fairly level all year with 68% of all homes sold in August 2010.

· Central Florida’s luxury market of $1 million plus properties is performing substantially stronger in 2010 over 2009 with Orange County seeing the bulk of the sale activity. Through August 2010 Orange County reported 123 $1 million plus property sales, which is substantially above the 72 sales reported in August 2009.

Seminole County reported 18 $1 million plus sales in August 2010 compared with 12 in August 2009 and Lake County reported 6 $1 million plus sales compared with 2 $1 million plus sales in August 2009 .

The luxury end of the market appears to be finding more consumer confidence and we anticipate seeing stronger luxury activity through the end of the year. We are also seeing continued interest from our UK, Canadian, European, and South American buyers.

I hope you find this information helpful and I will continue to keep you updated on Central Florida’s Real Estate Market Trends.

Looking at buying a home somewhere in Florida? Use one of our easy contact links below.

Request more information on this home or submit a Custom Search Request

The BRITISH HOMES GROUP Florida

2960 Vineland Road

Info@britishhomesgroup.com or (+1) 407 396 9914

Florida Property – Closing Costs

US CLOSING COSTS

Thank you so much for the tremendous response to our recent announcement of the Orlando Builder Close-Out Sale.

For those of you proceeding with purchasing one of these unprecedented bargains we thought it might be helpful to review one of the major cost items associated with investing in Florida property: “Closing Costs” or “Settlement Fees”.

US Closing Costs can represent 4-5% of the total cost of investing in Florida property – and therefore should be understood thoroughly before you invest!

Needless to say, we can help you with any questions that you might have.

In the meantime following is an article on US Closing Costs from today’s issue of the US Helium magazine:

Overview on a home buyer’s recurring and non-recurring closing costs

by Gene Patterson

Closing costs are an unavoidable part of getting a mortgage or refinancing. In a buyer’s market it is possible to get the seller to cover many of the closing cost fees. But in a seller’s market where the properties are “hot” this is unlikely to happen.

What is a closing cost?

The closing costs are all of the little fees that are associated with buying a house. It includes things like appraisal fees, application fees, title search, credit report, origination points and a lot more. The amount of the closing costs can vary greatly depending upon the loan that they are based off of. They can conceivably get as high as 4-5% of the price of the home. Closing costs are broken into two separate type of costs: recurring and non-recurring closing costs. Both fees are due to be paid at closing and the homeowner will be required to pay the recurring fees annually.

Non-recurring closing costs

These are the closing costs that are all one time only fees. These fees include: title insurance policy, wiring fees, credit report, lender fees, courier fees, escrow fees, notary fee, appraisal fees, government filing fees and title search. These fees are due at closing and if the right deal is made can sometimes be absorbed by the seller rather than the buyer. They are a onetime only fee.

Recurring fees on the other hand are going to have to be paid every single year. Hence the word, “recurring”. These fees include:

Property taxes: for the first year, how much of the taxes you owe as the “buyer” depends on when you purchased the home. You are only on the hook for the taxes while you live there. Structure the home buying agreement right and all of the upfront (first year) closing costs will be covered by the seller.

Interest: Of course the loan will accrue interest that will have to be added to the principal and paid over time.

Homeowners Insurance: Your lender will likely stipulate a minimum amount of homeowners insurance you must have as long as your loan is in effect

Recurring costs can either have the annual closing costs paid out each year or have it rolled into the mortgage for simplicities sake.

See, once you break it down the difference between recurring and non-recurring closing costs is not that hard to understand.

——–

For those of you who have not yet found exactly what you are looking for in Florida’s exciting Buyer Market why not let us help you with your search?

We have information on over 20,000 homes in the Disney/Orlando area of Central Florida alone!

We also have “listing” information on many bargain-priced beach-front homes on the Sunshine State’s beautiful sandy coast – from Tampa to Miami.

Happy house-hunting and great savings!

And please tell your friends (they can share the purchase, use and rental income) – the time couldn’t be better!

Sincerely,

Bill Cowie President

www.BritishHomesGroup.com

Orlando Office: 407 396 9914

British-American Chamber of Commerce Advisory Board

Florida Home Sales Up Median Prices Down

Home sales up, median prices down

The Orlando Regional Realtor Association reported completed sales on 2,429 homes in August, a 10.91 percent increase over August 2009’s 2,109.

To date, Orlando-area home sales are up 36.12 percent over this time in 2009, ORRA said.

“As expected, sales have been softer following the expiration of the homebuyer tax credit,” said ORRA Chairman Kathleen Gallagher McIver of Re/Max Town & Country Realty. “However, since May, the number of new contracts has continued to climb as consumers take advantage of record-low mortgage rates and historically high housing affordability.”

Other findings from the ORRA report:

• The number of new contracts filed in August 2010 — 3,892 — represents an increase of 17.09 percent more than were filed in August 2009 (3,324).

• The area’s pending sales statistic — an indicator of future sales activity — also is at a record high with 8.6 percent more homes (8,945) under contract and awaiting closing in August of this year than in August of last year (8,237).

• The median price of all existing homes combined sold in August 2010 decreased 21.95 percent to $99,900 from the $128,000 recorded in August 2009. August 2010’s median price is a decrease of 8.1 percent compared to July 2010’s median of $108,700.

• The median price for “normal” sales is $165,900 (down 5.20 percent from last month’s $175,000). The median price for bank-owned sales is $70,000 (down 2.78 percent from last month’s $72,000), and the median price for short sales is $100,000 (down from last month’s $116,000).

“With foreclosures and short sales dominating the market, the median price continues to be lowered,” said McIver. “Plus, the rise in popularity of lower-priced condominiums has put additional downward pressure on prices.”

• Homes of all types spent an average of 84 days on the market before coming under contract in August 2010, and the average home sold for 95.04 percent of its listing price. In August 2009 those numbers were 94 and 94.44 percent, respectively.

• There are 16,535 homes available for purchase through the MLS. Inventory decreased by 28 homes from July 2010, which means that 28 more homes exited the market than entered the market.

• Condo sales in the Orlando area increased by 43.28 percent in August when compared to August of 2009 and increased by 5.89 percent compared to July of this year. To date, condo sales are up 74.09 percent (4,596 condos sold to date in 2010, compared to 2,640 by this time in 2009).

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties.

5 Bedroomed Pool Home Near Disney

5 Bedroom Home – with Pool – near Disney – for about £100,000!

We have just received news of what could be the best new home property value yet offered in Orlando’s current “Buyer’s Market”!

One of Central Florida’s leading builders is “closing out” the last 5 new homes in one of its beautiful residential communities close to Disney (and approved for short-term letting).

Priced at about £100,000 ($149,900) each 2,001 square foot new home has 5 bedrooms, 3 bathrooms – and its own private pool!

These homes sold for over $350,000 during the recent Orlando property boom, with the same superb community clubhouse, community pool and on-site fitness centre.

Mortgages are available for British and other international buyers with a 30% down payment.

Why buy re-possessed, which could be “trashed” or damaged, when you can buy new for the same price – or less?

Please contact us now for more information, in confidence and, as always, absolutely without obligation, before these last few homes go.

And please tell your family and friends as well – or why not share the purchase price and holiday use with your business associates?

This could be your dream place in the sun at last – at 50% off!

Sincerely,

Bill Cowie President

Looking at buying a home somewhere in Florida? Use one of our easy contact links below.

Request more information on this home or submit a Custom Search Request

The BRITISH HOMES GROUP Florida

2960 Vineland Road

Info@britishhomesgroup.com or (+1) 407 396 9914

September’s Property of the Month

FIVE 2001 SQ FT 5 BEDROOM BRAND NEW POOL HOMES CLOSE TO DISNEY…

There are 5 of these very special priced ‘builder close out’ homes to choose from for just under $150,000 each!

One of Central Florida’s leading builders is “closing out” the last 5 new homes in one of its beautiful residential communities close to Disney (and approved for short-term letting).

Priced at about £100,000 ($149,900) each 2,001 square foot new home has 5 bedrooms, 3 bathrooms – and its own private pool!

These homes sold for over $350,000 during the recent Orlando property boom, with the same superb community clubhouse, community pool and on-site fitness centre.

Mortgages are available for British and other international buyers with a 30% down payment.

SEPTEMBER’s Hot Property – click on one of the links below to make an offer or request more information on these homes.

5 Bedroomed, 3 Bathroom Pool Home Close to Disney World
Status: Available
Listing Price: $149,900
Bedrooms: 5
Baths: 3
Sq.ft: 2001

5 Beautiful vacation/residential homes to choose from. Located close to Orlando’s World Famous Attractions, shopping, airports and restaurants. Take advantage of Orlando’s buyer’s market today.

Request more information on this home or submit a Custom Search Request

The BRITISH HOMES GROUP Florida

2960 Vineland Road

Info@britishhomesgroup.com or (+1) 407 396 9914

August’s Property of the Month – AVAILABLE

July’s Property of the Month – AVAILABLE

June’s Property of the Month – AVAILABLE

May’s Property of the Month – AVAILABLE

April’s Property of the Month – SOLD