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.”

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

NAPLES AUCTION

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.  There were 27 UK inquiries, 3 UK registered bidders and Sheila Harrison was the successful bidder.

Sheila Harrison says: "We have been to Naples before and liked it so when I saw that the auction was on I thought I’d have a go.  I think US "no reserve" auctions could attract a lot of interest from Brits here particularly when our exchange rate is fabulous at the moment.  So it’s a win/win situation. 
 
"I have bid at auctions before in the UK but not online, and I found the Sotheby’s online auction was very simple and good fun. I particularly liked the chat line so you could enjoy the feedback with other bidders and in the auction room.  I bid for – but didn’t get – my favourite apartment which went for about $220,000 and then when I saw my second favourite sold I thought I had to get in there.  I think looking back I would rather have paid $10,000 more to get the one I wanted but ours was a great price, and far less than the mid to high $200s we were expecting to pay.  Sotheby’s have been very efficient and allowed us 60 days to complete so we are looking forward to going over to Florida in March to see it when we can finalise all the paperwork.  We plan only to use the apartment for holidays with family and friends and have no intention of renting it out."
 
All 27 apartments at Lely Landings sold under the hammer – either from online or from attendees at the auction which was held on January 19th at the property.  The lowest successful bidder bought unit 403 -a 1650 sq ft 3-bed, 2-bath apartment with garage for $174,400 (£87,200).  All apartments have three bedrooms, two bathrooms, fully-fitted kitchens with granite work tops and custom hardwood cabinets and stainless steel appliances.  The apartments also include tiles and fitted carpets, an integral garage, and 10 year structural warranty.  Lely Landings is set on a 3.4 acre estate four miles from downtown Naples and three miles from the beach.

NEW SMYRNA BEACH AUCTION

Brian and Debbie Gill from Leamington in Warwickshire successfull for a 6th floor three bedroom apartment at Oceanwalk Condominiums on the south beach area of New Smyrna Beach, Florida.  The condo has all the appliances included, upgraded quality carpets, tiles, undercover allocated parking and lock up storage room. 

New Smyrna Beach is the nearest beach to the world famous attractions of Walt Disney World, Sea World, Epcot Center and Universal Studios just over an hour and fifteen minutes away.

Mr Brian Gill says: "From previous visits to Florida we had looked at properties on the East, the West and Emerald coast but had not seen a development that we felt was value for money.  This appeared to provide a good opportunity and was within easy distance from the airports.  We were particularly fond of the Cocoa Beach area and have driven up the coast road and knew a little bit about the New Smyrna area.  We were not actively looking to purchase but the combination of the American housing slump and good exchange rate stirred our interest.

“We spent some time researching the area (Google Earth was great!) and looking into the properties currently available.  This particular site was first started in 2003, and now has a large number of re-sale units available which provide a good assessment of value.  We were prepared to bid about 60% – 65% of the original listed price, depending on the unit for sale.  When the auctioneers purchase premium (11%) is included, we estimate our unit has cost approximately 66% of the current price being advertised in the latest building they are now selling off-plan.”
 
Lori Chipps of Stirling Sotheby’s says: “Our January 26th auction was again a complete sell out and from the UK we took 34 inquiries, 5 UK registered bidders and Mr Gill was the only lucky UK buyer.  The lowest price paid was $208,000 (£104,000) for a 3-bed condo.  The 5 different models sold between $208,000.00 ($228,800.00 with buyer’s premium) and $335,000.00 (357,500.00 total with premium).  List prices ranged from $270,000.00 to $450,000.00 depending on the model and floor location.”

The British Homes Group is the no. 1 Florida-based international sales and mortgage brokerage company that specializes in arranging financing for British, European and other ‘Foreign National’ homebuyers in the U.S.

Virginia Cowie, owner and managing director of British Homes Group says: “This is another example of how Florida is developing into a true “Buyers Market” for UK and European property investors.  It is great to see Brits taking advantage of the record – or near-record – high currencies versus the US dollar.”

Lee Weaver, director of British Homes Group says: “Industry observers predict that “Foreign National” Florida home and holiday ownership sales will continue to grow robustly this year, reflecting falling prices and rising inventories and the 26-year high British £ and record-high Euro against the dollar.  Our multi-currency mortgages for overseas home buyers in Florida make the process of snapping up a bargain even easier!” 

Stirling Sotheby’s and The British Homes Group will be holding a third “No minimum, no reserve auction on March 15th of 44 condominiums  on the river called “Coastal Creek Condominiums” in Jacksonville, Florida. Units range from 1 bedroom 1 bath up to 3 bedroom and 2 bath. Project details are on www.britishhomesgroup.com and www.stirlingsir.com/auctions/preview.htm  or go to www.coastalcreekcondos.com for more information.

Potential buyers can register online at: www.stirlingsir.com/auctions/preview.htm  and join in the live auction online or by calling UK freephone 0800 051 8893.  For details on financing contact British Homes Group on UK Freephone 0800 096 5989.
 
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For auction and property details call Lori Chips at Stirling Sotheby’s International Realty on UK freephone 0800 051 8893 
lchipps@StirlingSir.com      www.StirlingSir.com/auctions    

For multi-currency mortgage details call Lee Weaver at British Homes Group at info@britishhomesgroup.com
www.britishhomesgroup.com | www.britishhomeloansflorida.com

0800 096 5989 – Free call from within the UK

Event: 26th Jan 2008
Oceanwalk Auction

Neighborhood: Oceanwalk
Bedrooms: 3
Bathrooms: 2

ABSOLUTE AUCTION

Saturday, Jan. 26 · 11:00am

No Reserve, No Minimum
Will sell to the Highest Bidders
• Buy 1 or More •

“ONLINE AUCTION – BUY ONE OR ALL, BULK PURCHASERS WELCOME”

Two top Florida Developers are putting scores of properties on the auction market with no reserve prices and no minimum. The luxury apartments on developments in two of the best locations in Florida will be sold to the highest bidder however low that bid might be.

The January sale clear out starts at 11am on January 19th when Stirling Sotheby’s International Realty, in association with The British Homes Group, will hold a live Absolute Auction on the premises at Lely Landings in up market Naples, on Florida’s west coast. Twenty-seven, 3 bedroom elegant coach homes of 1600 sq ft+ are to be auctioned individually. Alternatively they can be bought on a bulk purchase of the entire inventory. All have integral garages and are set on 3.4 acres of land 5 miles from the beach. A typical 3-bedroomed apartment up for auction was independently valued in November 2007 for $393,000 (£196,500).

Exactly a week later on January 26th, Stirling Sotheby’s will auction 30 brand new units at Oceanwalk Condominiums on the south beach area of New Smyrna Beach on Florida’s Atlantic east coast. Again the units, which range in size from 1350-2050+ sq ft and are currently on sale for $250-440,000 (£125-220,000), will be sold on site to the highest bidders with no reserve and no minimums. The 30 apartments are also available on a bulk purchase agreement. New Smyrna Beach is the nearest beach to the world famous attractions of Walt Disney World, Sea World, Epcot Center and Universal Studios just over an hour and fifteen minutes away.

Potential buyers can register online at: www.stirlingsir.com/auctions/preview.htm and join in the live auction online or by calling UK freephone 0800 051 8893.

For details on financing contact British Homes Group on UK Freephone 0800 096 5989.

Stirling Sotheby’s has formed an alliance with The British Homes Group – the no. 1 Florida-based international sales and mortgage brokerage company that specializes in arranging financing for British, European and other ‘Foreign National’ homebuyers in the U.S.

Virginia Cowie, owner and managing director of BHG says: “This dramatic move by two of Florida’s top developers is a stark indication of a desperate sellers’ market and therefore how strong the buyers’ market is for Florida property. These are certainly quality developments in great locations, so with the Euro’s record high against the $, and £ Sterling’s 26-year high against the dollar the British property investor has a great opportunity to take advantage of these highly motivated sellers in the USA. If you’re looking for a well-priced villa or apartment, this is probably the ideal time to get one.”

There are further indications that now is the time to buy. The Orlando Sentinel, the highly respected business newspaper of the region reported on December 28th the latest quarterly forecast from the University of Central Florida. Its prediction is that Florida’s economy should hit its low point within the next three months and then begin a long, steady climb upward.

Lee Weaver, director of British Homes Group says: “Now is definitely the time to be buying a property in Florida. It’s been a long while since bargains like this have been available. Even if you resist the urge to get in on the auction, people can keep abreast of what is happening to Florida real estate market by logging on to:

http://www.featuredfloridaproperty.com/eng/

Those who subscribe to receive “Florida Insider Alerts” also get to see hot properties before they go out on general release.”

For auction and property details call Lori Chips at Stirling Sotheby’s International Realty on UK freephone 0800 051 8893.

http://www.StirlingSir.com/auctions

For multi-currency mortgage details email or call Lee Weaver at British Homes Group at info@britishhomesgroup.com

0800 096 5989 – Free call from within the UK

www.britishhomesgroup.com | www.britishhomeloansflorida.com