Nearly 40 percent of the 23 most-popular U.S. cities among non-American visitors to Trulia are in Florida, according to a blog the property search site launched today.

The blog, Trulia Insights, will feature data visualizations of housing data on a weekly or bi-weekly basis. The first such infographic details the U.S. cities to receive the biggest share of traffic on the site among non-American visitors in the first quarter. About 5 percent, or 1.4 million, of the site’s unique visitors during the first quarter were from abroad, Trulia said. The site attributed the high level of interest among international site visitors to “falling (U.S.) home prices and currency exchange rates in their favor.”

The most popular American cities were Los Angeles and New York, which were among the top five most-searched cities for visitors from the United Kingdom, Australia, France, Germany, Brazil, Italy, Russia, the Netherlands, Sweden, China and India. Nine of the 23 most popular cities were in Florida with Cape Coral, Fort Lauderdale, and Miami taking the lead.

That interest may be due to both deep discounts on the state’s real estate and a perception that the state is “friendlier to non-citizens,” the site said.

Florida cities were especially popular with folks from Canada, the country with the biggest share of traffic on Trulia from abroad. The United Kingdom had the second-biggest share, while Australia had the third-biggest share.

Bill Cowie President

www.britishhomesgroup.com

Orlando, Florida

Kissimmee Office 407 396 9914
Direct (Mobile) 407 620 7777

British-American Chamber of Commerce Advisory Board

Request more information on buying a home in Florida or submit a Custom Search Request

The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914

APRIL 2011 A Place in the sun 41

It’s a buyer’s market in Central Florida, where property now is as cheap as it was 13 years ago. We recommend some buying spots there, whether you’re looking for a lettable holiday home or a more permanent residence.

It’s all go in Orlando!

Two of many theme park rides in Orlando, a major draw for holidaymakers, many of whom rent privately owned vacation homes Orlando.

You may have heard agents saying this for a few months already, but now might just be the best time to buy a home in Florida. There are persuasive signs that
both prices have really bottomed out and that a recovery is nigh. In February prices in Orlando hit their lowest level since November 1997 – with a median home price of $94,950 (£59,000), according to the Orlando Regional Realtor Association – as sales are dominated by cheap cash deals.

What’s more, tourism is also booming – helped by new theme parks such as the popular Wizarding World of Harry Potter and much-anticipated Legoland on its way. Another green shoot of recovery might be detected in the rise in home loan applications, as US buyers rush to take advantage of a slide in mortgage rates. Recently there have also appeared some mortgages for overseas buyers, typically requiring 30-35 per cent deposits and with rates of seven per cent per annum.

“Now is a great time for anyone thinking of buying a home in Florida to make that decision,” said Patricia Fitzgerald, President of the Florida Association of Realtors, who reported a 14 per cent rise in sales in January. “Mortgage rates are historically low and conditions remain very favourable for buyers with a range of housing inventory and attractive prices.” So on that basis, where is best to buy in Central Florida, if you want to short-term let – or if you don’t?

A home for holiday lets In Central Florida, or the Orlando area, you can only let out your home to holidaymakers if it’s in the Short Term Rental (STR) zone, which is south-west of Disney It’s also known as the “Golden Triangle” or “Four Corners Area” because it’s where four counties converge: Orange, Lake, Osceola and Polk.

According to www.holidaylettings.co.uk, proximity to Disney is king, but whilst there’s a healthy supply of rentals in the very British oriented Davenport (best for supplies of PG Tips) and Kissimmee, there’s room for more inventory in Haines City and Clermont. Proximity to the coast (around 55 minutess from Orlando city) is less of a factor for would-be renters than the theme parks, malls and golf courses.

For Howard Thorne whose Homes of America manages rentals as well as sales, Orange Tree and High Grove are the two best performing developments for STR in the Lake country area, each pulling 26-34 weeks rental a year. “But operational costs are relevant to buyers and the difference is that Homeowners Association (upkeep) fees are $2,000 (£1,235) a year at High Grove, compared with $400 (£247) p.a. for Orange Tree,” he says (www.homesofamerica.co.uk). At High Grove (six minutes from Disney, also golf, Cagans Crossing restaurants and shops) a four-bed home costs $214,000 (£132K); at Orange Tree (10 minutes from Disney, near supermarkets and restaurants) homes cost $145,000 to $269,000 (£90K-£166K).

“Note that by the time you factor in spending $20,000 on furniture and repair costs necessary for bankowned properties, there’s often little difference in price between that and a regular one,” he adds. Other good performers he suggests with 30-42 weeks rentals are Tuscan Hills in Polk County, 12 minutes from Disney and Watersong (Davenport, 18 minutes from Disney). At both, prices kick off around $140,000 (£86K) for a three-/fourbedroom short-sale.

For Gary Kenny of Coldwell Banker Feltrim (sales and rentals), however, Tuscana four miles from Disney is a good performer with 70 per cent occupancy (around 33 weeks) expected this year. “It’s got a tried and tested rentals programme, is 12 minutes from Disney, 20 miles from the new Legoland, and next door to
Champions Gate golf course,” says Kenny (www.cbfeltrim.com). He is selling two-bedroom furnished units there for $89,500 (£55K), which were selling for $365,000 (£225K) in 2008 (www.tuscana.net).

Another choice is Haines City, much closer to Disney (20 minutes) since the widening of highways 4 and 27. “It’s grown into a good location, with great shops – including the new Posner shopping centre,” says Kenny, who is selling one-bedroom condos (unfurnished, bank-owned) on the Southern Dunes golf resort from
$39,000 (£24K) through to villas for $175,000 plus.

For sale: Short Term Rentals

Where: Kissimmee
Price: $150,000 (£93K)
This four-bed, four-bathroom home with a pool is 20 mins from Disney.
British Homes Group: 001 407 396 9914; www.britishhomesgroup.com

Where: Haines City
Price: $219,900 (£135K)
A four-bedroom, two-bathroom home
on Southern Dunes Golf Course,
20 mins from Disney.
CBFeltrim: 0844 669 5990;
www.cbfeltrim.com.

CASE STUDY

“Our Sunshine State bargain”

Pharmaceutical consultant David Jakobsen and his wife Nicola recently bought in the Haines City/Davenport area of Orlando. The couple, from Liverpool, paid $175,000 (£108K) for a fourbedroom villa in the gated community of Calabay Parc at Tower Lake. Their property, which they purchased through agent CB
Feltrim, was originally priced at $300,000 (£185K). Calabay Parc, off Highway 27 and next to a large natural lake, is a 15-minute drive from Disney, 10 minutes from golf courses and just five from the nearest supermarket and restaurants. Proximity to Disney is king but whilst there’s a healthy supply of rentals in the very British-oriented Davenport (best for supplies of PG Tips) and Kissimmee, there’s room for more inventory in Haines City and Clermont because there are some people who want to be 10 minutes not 20 from Disney,” he adds.

Best for Residential

For those not needing or wanting short-term rentals the net widens – and the Doctor Phillips outlying suburb of Orlando ticks a few boxes for those wanting to stay a few months in Florida. “It’s close to Restaurant Row on Sandlake Road [a street full of highend restaurants] as well as the prestigious Bay Hill golf course, the Millennium Mall, as well as having very good schools and being 20 minutes from downtown Orlando,” says Gary Kenny. He is selling properties from $300,000 (£185K) on the leafy gated community of Turtle Creek, but really recommends Phillips Landing – a community of around 350 homes built around a lake – if you have a budget of $500K (£309K) plus.

For sale: Residential

Where: Doctor Phillips
Price: $550,000 (£340K)
A four-bed, three-bathroom corner villa over 3,000 square feet on a gated community, Phillips Landing.
CBFeltrim: 0844 669 5990; www.cbfeltrim.com.

Where: Winter Garden
Price: $325,000 (£201K)
Four-bed, three-bathroom villa in a lovely community in a superb area.
Jerry Barker Vacation Homes:
001 407 286 8170;
www.jerrybarker.com.

Howard Thorne has condos in Doctor Phillips from $175,000 (£108K) but also recommends next-door Windermere (Orlando’s own Lake District and home of Tiger Woods) as having the “most desirable zip code – 34786”. “But there are both cheap and expensive properties there: a four bedroom home in the Summerport
area costs $200,000 (£123K), or in Isleworth/Lake Butler Sound you can get a short sale five bedroom home for $685,000 (£423K),” he says. Winter Park, an upmarket northern suburb of Orlando city on a chain of lakes is also a good choice according to Bill Cowie of the British Homes Group (www.britishhomesgroup.com). “It’s a cosmopolitan, Chelsea-like area of restaurants, theatres and pubs – five minutes from downtown Orlando – where prices have remained firm,” he says. “You are looking at $300,000-$400,000 (£185K-£247K) for a single family home.” He also suggests the Disney masterplanned community of Celebration might appeal to those seeking something safe, clean and well managed – though some might finding restrictions on curtain-colour a little stifling. “Location-wise it is great, the bulls eye of the road network, and it’s got a world-class hospital and is close to the shopping outlets of the I-99 corridor. Baby condos start from $100K(£62K) but $350,000 (£216K) will get you a four-bedroom single-family home.”

Jerry Barker (www.jerrybarker.com) of the eponymous vacation homes agency also says Celebration is a favourite choice, as is another recommendation of Cowie’s – Lake Nona out by Orlando airport. “What’s special about this area – apart from the great golf courses (Nick Faldo has a home there) is it’s
getting a $2-billion (£1.23-billion) world-class medical facility which is drawing buyers,” says Barker. According to Cowie, four-bed single family homes start at around $800K (£494K). But Winter Garden – northwest of downtown Orlando – is an excellent “mid-range” choice for Barker, offering access to the Florida turnpike access for Tampa/Miami. “It’s quaint old America with homes with porches, yet it’s got a fabulous new mall area, top-class schools and it’s 20 minutes from Orlando city,” he says.

If you have any questions about buying a vacation home in Florida please call or contact us  using one of the links below.

Bill Cowie President

Orlando office 407 396 9914

Looking for a home in Florida? We do vacation rentals or can help with the purchase or finance of a Florida property. Request more information or submit a Custom Search Request for a listing of homes available in your price range.

The BRITISH HOMES GROUP Florida

We are delighted to announce that Mark Shore has joined the British Homes Group team.

British Realtor helping UK clients buying homes in the Orlando area.

We are sure that those of you who have worked with Mark in his over 30 years in the property and finance business in both the UK and US will agree that Mark is one of the most experienced, helpful and trust-worthy professionals in our business.

Mark hails from Bristol and moved to Orlando in 2003. Mark has now acquired an extensive and intimate knowledge of the DisneyWorld area of Central Florida. He also has access to more that 20,000 residential property “listings” in Central Florida’s current buyers market.

Mark has successfully bought and sold his own properties. And he is more than willing to share his actual, invaluable hands-on experience with his customers.

Mark has also already set up a “British Homes VIP Service” for UK buyers and sellers:

British Homes VIP Buyer Service – for UK property buyers who would like Mark to act as their sole “Buyers Agent” – at no extra cost – in finding the right property at the right price for them. Simple and safe!

British Homes VIP Sellers Service – for UK sellers who would like British Homes to feature their properties – again at no extra cost – on their web site, blog or other international publicity media.

You can contact Mark on info@britishhomesgroup.com or by calling (+1) 407 396 9914.

One such property, for example, is beautiful home – with a pool – close to Disney that was bought by a British Homes customer in 2003 for $196,000. The seller is now willing to accept $135,000 for a quick sale (see www.britishhomesgroup.com).

Thank you for your business – please tell your friends!

And welcome again Mark!

Sincerely,

Bill Cowie, Director
www.britishhomesgroup.com
Orlando, Florida

US GOVT ALLOWS DEVELOPERS TO ‘SELL’ HNW PERMANENT RESIDENCY VISA-BASED PROJECTS

The US government has finished the test phase of a new immigration category called EB-5 (Employment Based Statute 5), which grants individuals permanent residency in the US if they invest $1million into a local job-making business or property development.  The visa allows for a $500,000 investment if it is invested in an area determined by the USCIS to be in special need of economic stimulus.

Designed to boost a region’s economy, the scheme has been piloted in 23 markets across the US and allows a high net-worth investor (HNW) to move to the US permanently, as long as the project (residential, mixed-use or commercial), employs 10 people as a direct result of the investment. The developer or business owner is allowed to sell 35% of the business to 35 individual investors, each taking a 1% stake, along with property or a physical holding at the company.

Property professionals across the US have already started partnering with owners of mixed-use projects in the country and marketing this visa-property solution to HNW international buyers.

The latest partnership has been signed in Orlando, Florida, between mortgage broker and agency the British Homes Group (BHG) ( www.britishhomesgroup.com/eb5.php ) and the developer of a luxury twin-tower condominium resort, one mile from Disney World.

Bill Cowie, director of BHG, said believes that this will be of particular interest to agents with British, European, Russian and Asian clients.

“The US government is working to attract more investment into the country and this is a genuine solution for investors wishing to obtain a residency permit in the US,” he said. “The cost-of-entry is a little steep, but the financial returns are immediate and the life-style rewards are immense. Agents, of course, now have an exciting new product and substantial income opportunity for their clients both in the UK, Europe and around the world.”

Investors into the specific Orlando project will pay $1million for a 1% share of the development company and will receive two condominium apartments for personal use or rental income.

For more information please visit: www.eb5investmentvisas.com

Auctions offer best opportunities for Florida Real Estate Bargains!

“How to buy at auction” on-line seminars Tuesday October 7th and 21st at 7pm UK time.

Next Auction – November 8th, 2008

Top quality homes in Florida are at their lowest price right now, but to secure an even better bargain you need to go to auction.  Auction properties can be half price or less off current values.

For some Brits, however, bidding for a luxury home over the internet can sound daunting.  The on-line auction route is a quick and definitive route to buying a home and also saves money on airfares.  But how do you do it safely? And how can you be sure that what you are really buying is a bargain?

In order to help British people through the auction maze, the Orlando-based British Homes Group, (www.britishhomesgroup.com) in collaboration with Stirling Sotheby’s International Realty, the Florida affiliate of Sotheby’s in the UK, is hosting two complementary internet auction seminars on October 7 and 21 at 19.00 GMT.
 
The purpose of the British Homes Group “webinars” is to explain the process and answer all the questions potential buyers might have.  BHG will also feature a selection of quality Florida holiday homes and other investment properties in the Orlando area that will be auctioned by Stirling Sotheby’s on November the 8th. A free booklet – “A guide to Florida On-line Property Auctions” can also be downloaded.

Bill Cowie, director of British Homes Group says: “These auctions are not a dumping ground for private owners to offload secondary real estate rubbish.  In this market they are also a sales platform for top US developers to turn their newly completed luxury homes into much-needed cash.  As a buyer you need to be aware. The first step is to make sure you are dealing with reputable companies, get prepared and familiarise yourself with the procedure.  Then if your bid is successful, it may turn out to be the quickest, most hassle-free and best investment you’ve ever made.”

British Homes Group is an Orlando-based, UK-staffed estate agency and mortgage brokerage company specializing in finding and financing Florida holiday homes and investment properties for UK residents.  BHG is a “one stop shop” for all things Florida property and prides itself on offering advice and guidance with no pressure on people just enquiring about the market.

BHG has assembled a team of totally objective professional advisors on all subjects including UK and US law, immigration, tax, insurance and who will guide people through all aspects of buying a home in Florida, from on-line auctions through to buying furniture and sourcing decorators or interior designers. 

The next auction on 8th of November, will feature a selection of properties developed by Ginn Resorts (www.GinnResorts.com).  Ginn Resorts is a premiere US developer with many resort communities throughout the south-eastern US and Florida.  The featured properties are at:

1.  Reunion Resort near Orlando (www.ReunionResort.com)
2.  Bella Collina Golf Club near Orlando (www.BellaCollina.com)
3.  Hammock Beach resort on the Atlantic coast, east of Orlando (www.HammockBeach.com)

In a previous auction, and reported on by the UK’s Daily Telegraph, Sheila Harrison of Luton, Bedfordshire snapped up a new three-bedroom apartment at Lely Landings in upmarket Naples, West Florida for £100,000 ($200,000).  The list price was double that at $399,000 and a near identical apartment at Lely Landings was independently valued in November 2007 for $397,000.  Brian and Debbie Gill from Leamington in Warwickshire successfully bid $270,000 (£135,000)  for a 6th floor three bedroom apartment at Oceanwalk Condominiums on the south beach area of New Smyrna Beach, Florida. 

Lee Weaver, Director of Operations of The British Homes Group, says:  “In all our many years helping UK buyers find Florida dream homes, there has never been a better time for Brits to buy in Florida.  With high supply of properties and low demand from locals, and the difficulty of getting credit here, the market has never been so full of bargains.  The dollar has strengthened against the £ in recent weeks but still presents excellent value for buyers from the UK and Ireland.”

-ends-

For further information please go to: www.britishhomesgroup.com/florida-property-auctions.php Or call freephone 0800 096 5989 or (+1) 407 396 9914