Tag Archives: Orlando Real Estate

Orlando Home Prices at 3-Year High

According to a recent article in the Orlando Sentinel…Orlando Home Prices have reached a 3-Year High!

The median price for existing home sales in the core Orlando market during November was $129,000 – a 5 percent increase from the month before and 12 percent increase from a year earlier.The midpoint price was at its highest level in three years.

Members of the Orlando Regional Realtor Association sold 2,430 houses during November, which was down 6 percent from a month earlier and up about 20 percent from November 2011.

Homes of all types spent an average of 83 days on the market before coming under contract in November 2012, and the average home sold for 96.27 percent of its listing price. In November 2011 those numbers were 99 days and 95.19 percent, respectively.

The average interest rate paid by Orlando homebuyers in November, 3.47 percent, set yet another record as lowest average interest rate since ORRA began tracking the statistic in 1989. A year ago, homebuyers paid an average interest rate of 4.10 percent.

Short sales, which take much longer to process from contract to close, made up 67.37 percent of pending sales in November 2012. Normal properties accounted for 21.04 percent of pendings, while bank-owned properties accounted for 11.60 percent.

The number of existing homes available for purchase in Orlando was 7,847, down from a peak of 26,330 in October 2007. The inventory of single-family homes is down by 26 percent from November 2011; condo inventory has decreased by 3.71 percent during that time.

The month-of-supply increased a bit in November when compared to last month. The market had enough home listed for sale to last 3.2 months, up from 3.1 in October but down from 5 months a year earlier.

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Is this the end of the Florida property recession – at last?

If so, what a nice Christmas present!

A continued Orlando property market rebound, of course, will help make 2013 an even more profitable New Year for residential investors here in the Sunshine State!

To help make it so ……………

Why Choose The British Homes Group?

20 Years Experience in the Disney-Area of Central Florida

Many of you may recall that The British Homes Group was the first to bring UK mortgage financing to Florida with First National Bank and Abbey National. We were also the first to arrange Sterling financing for new UK members at The Disney Vacation Club.

Over the past 20 years The British Homes Group has helped hundreds and hundreds of UK families find and finance their dream holiday home and property investment here in “The Sunshine State” of Florida.

Over 20,000 Residential Properties to Choose From

As members of the Florida Multiple Listing Service (“MLS”) The British Homes Group has access to information on just about every villa and residential property currently for sale throughout Florida.

In Florida, unlike in the UK, therefore, it is not necessary to deal with a number of different Estate Agent (some of which you like, some, maybe, you don’t) to find your ideal holiday home close to Disney.

We hope, therefore that your choose The British Homes Group as your one and only Estate Agent in Florida!

A Name You Can TRUST!

Besides our hundreds and hundreds of UK customers over the past 20 years many leading property and finance companies around the World have also found that they too can trust The British Homes Group.

These companies include The Disney Vacation Club, Abbey National, Hilton Hotels, Lloyds TSB International, Sheraton Hotels, The Rank Organization, Marriott Hotels as well as the US Government’s Resolution Trust.

Exciting Referral “Pressies”!

From time to time we are able to offer valuable incentive awards to BOTH our existing villa owners and their friends when, depending on the holiday home or development community, they refer new purchasers to The British Homes Group.

In the past year, for example, our Owner Referral Programme has offered:

* Free Airfares

* Free Villa Management

* Free Car Rentals

* Free Wire Transfer Fees (for international money exchanges).

Needless to say, conditions apply.

We will be offering, however, even more valuable Referral Programme incentives to both our existing clients and their friends, relatives and business associates in 2013!

In the coming year, therefore, The British Homes Group looks forward to re-earning its reputation as ……

“The UK’s Favourite One Stop Shop For Florida Villa Owners”

Bill’s Bit

It’s not often you get the opportunity to “Buy Low and Sell High” – especially with holiday homes and property investment.

This market rebound could be one of these rare opportunities – before the Florida property market returns to a “10-Year High” once again!

We hope that we can help you take advantage of this unusual opportunity in 2013!

Request more information on Florida homes or submit a Custom Property Search Request

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

 

Orlando home prices have continued to improve for 13th straight months

Read an article in today’s ORLANDO SENTINEL that Orlando home prices have continued to improve for 13th straight months.

Resale prices for Orlando-area homes ticked up yet again last month, as buyers came closer to paying sellers’ asking prices than at any time since February 2007, when the housing bubble was about to burst.

The median price for July sales reported by members of the Orlando Regional Realtor Association edged up to $125,750 from $125,000 in June; the midpoint price is now up 16.4 percent for the year, with year-over-year increases for 13 consecutive months.

A year ago, the median price was $115,500.

“What I find encouraging for the state of Orlando’s housing market is the jump in the percentage of ‘normal’ sales, which is up 16.34 percent for July 2012,” said Stephen Baker, chairman of the local association. “The percentages of foreclosures sales and short sales are both down, which along with the decline in inventory indicates that the ocean of these sales types is drying to a puddle.”

The area is nearing the point at which conventional sales would once again define the market. In July, more than 48 percent of sales in the core Orlando market (mainly Orange and Seminole counties) were normal, up from 42 percent a year ago; short sales comprised 28 percent of the overall mix, while foreclosures constituted 24 percent.

The average buyer paid 96.1 percent of the seller’s asking price, which is the smallest discount home buyers have received in more than five years. And the median time it took to sell a house – 82 days – is the shortest turnaround period since April 2010.

Another indication, from today’s Associated Press, that the US property market may have hit bottom:

U.S. home builder confidence at five-year-high in August

LOS ANGELES – U.S. home builders grew more confident in the housing recovery in August, as many reported that prospects for sales are the best they’ve been since the home bubble burst five years ago.

The U.S. National Association of Home Builders/Wells Fargo builder sentiment index released Wednesday rose two points this month to 37, up from 35 in July. That’s the highest reading since March 2007.

The index, which is based on responses from 478 builders, has been trending higher since October and only dipped once since January. That suggests a turnaround in housing is solidifying after years of stagnation.

Bills Bit:

There are still some GREAT Florida villa deals around – but not, perhaps, for too much longer.

So why not contact us now, in confidence and absolutely without obligation, if you would like us to help you find your very own place in the sun or Florida investment property – at prices you probably won’t see again?

We have information on over 20,000 residential properties to choose from in the Disney area of Central Florida alone.

And a $2,000 Travel Bonus on new homes bought before Christmas (call for details)!

Have fun – and save money while you can!

Best!

Bill Cowie

Request more information on Florida homes or submit a Custom Property Search Request

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

November Property of the Month

BRITISH HOMES GROUP Florida ~ Specialising in Florida Real Estate

Orlando | Kissimmee | Davenport | Windermere | Bay Hill | Clermont

Residential Luxury ~ Vacation Paradise

New British Homes “Best Buy” Listing!


Brand New 3-4 Bedroom Golf Course Florida Villa!

Brand New Price Reduction!

Just 20 Minutes from Disney!

Brand new Florida villa on a prestigious golf development.

Price just reduced from $244,455 to an amazing ….

$199,490!

  • 3 Bedroom with 3 Bathrooms and over 2,600 square feet of living space
  • Den/Office – which could be used as an additional 4th Bedroom
  • 2 Master Bedroom Suites with large family room, living room and huge 3-car garage
  • Located in a prestigious gated golf community with access to Club House, Fitness Centre, community swimming pool, tennis courts and golf course
  • Disney and the other world-famous “Attractions” only 20 minutes away

 

 

$12,000 “Builder Allowance” – to help offset Closing Costs/Settlement Fees!

Financing Available – with a 30% down payment!

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Bill’s Bit ……….. “Price” versus “Value”

Here is a classic case of “Price” versus “Value”.

“Price” equals “Cost” alone.

“Value” equals “Price” plus “Quality”

For example, a Rolls Royce priced at $10,000 is usually a better value than a Ford priced at $8,000 – even though the Ford is cheaper.

The same with villas.

A brand new Florida villa, with builder warranties and guarantees, in a prestigious, well maintained, gated, golf community close to Disney – such as this – is undoubtedly a much better value than a used home in a unknown neighbourhood, often with hidden “deferred maintenance” issues and many, MANY miles from Disney.

The British Homes Group has Florida villas listed at all prices and in all locations.

Let us help you choose the best “value” for you …at the lowest price!

But best act quickly if you are interested in this one – it won’t last long!

Good luck!


Request more information on Florida homes or submit a Custom Property Search Request

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

Orlando Home Prices Staying Firm

According to the August report from the Orlando Regional Realtor Association existing-home sales in the Orlando area showed a second consecutive month of price gains from a year earlier.

The median price in the core Orlando market was $115,000 – 15 percent higher than August 2010.

Since January of this year, Orlando’s median price has increased by 21 percent.

The median last month for bank-owned sales was $81,750; for short sales it was $96,950.

The number of foreclosure sales dropped 51 percent compared with August 2010

Short sales and regular sales were each up 32 percent.

At the current sales pace, there is a 4.3-month supply of homes available for sale, also

  • total inventory was down 39 percent from August 2010
  • the number of single-family homes was down 36 percent
  • the number of condo units for sale was down 52 percent
  • pending sales (under contract and awaiting closing) – 9,502 up from 8,945 a year ago
  • the average property sold for 95 percent of its listed price, the same as in August 2010

 

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Bill’s Bit:

If the Orlando property marketplace is indeed turning-around, as so many different market indicators are suggesting, then now could be the perfect time for Florida property investors take full advantage of our “Buyers Market”.

Why not let us help you find your dream place in the Sun?

If you are considering buying or selling a home here in Florida please contact the British Homes Group for more assistance.

Bill Cowie President

Kissimmee Office 407 396 9914

British-American Chamber of Commerce Advisory Board

Request more information on Florida homes or submit a Custom Property Search Request

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

British Homes Group in the Sunday Times

March 2, 2010

From this weekend’s:

Sunday Times, Lucy Denyer

Florida: a mix of different personalities

Florida’s property market has collapsed, but with the worst over, it could be time to swoop in the Sunshine State

It’s freezing outside, there are at least a couple more months to go before the weather warms up, and the idea of a holiday home in the sun is probably pretty tempting right now. But Spain’s not hot enough, and the Caribbean and the Seychelles are too expensive. Could Florida be the answer?

With its country-club lifestyle and balmy climate, the Sunshine State has traditionally been popular with British buyers. In the past 18 months, however, it has fallen out of favour, as prices have come crashing down by 50% or more from their peak. Florida had the second highest foreclosure rate – the equivalent of repossessions – in America in 2008, affecting one in 22 properties. Many remain empty and abandoned, after being seized by the banks.

“Some people just dropped the keys and left – they were effectively handing the property back to the bank,” says Todd Swann, owner of Swann & Associates, an estate agency based in DeLand, central Florida. “Pricing didn’t seem to matter when times were really desperate. It felt like we were working in a morgue.”

In recent months, things have started to pick up. Although prices remain low, properties are starting to move again as people try to make the most of the bargains on offer. For UK-based buyers, there is also the exchange rate to consider: although the pound is already at a nine-month low against the dollar, some analysts expect further falls, which would add to the attraction of buying now.

At face value, there do seem to be incredible deals out there, with flats in some condominiums on sale for as little as $15,000 (£9,700) – sites such as foreclosuredataonline.com give an idea of what’s on offer. Yet it’s a case of caveat emptor, warns Bill Cowie, director of British Homes Group, a Florida-based company running online auctions where prices start as low as one cent, with no reserve. “A $15,000 condo might sound good, but it’s in a building with no homeowners’ association, with a wreck of a kitchen,” he says.

Instead, do your research, visit America in person – don’t even think about buying blind off the internet – and make sure your chosen area is an attractive one with good infrastructure.

Where should you go? Florida’s two coasts have different personalities: the relaxed west coast, with its subtropical temperatures, is centred on elegant, tree-lined Tampa and classy Sarasota, with its orchestra and concert programme. The east, by contrast, is defined by hectic Miami – cruise-liner port and nightlife central – and luxurious Palm Beach. Inland is Orlando – with Walt Disney World on the doorstep and easy access to both coasts.

If you like the thought of bath-warm seas, head west. Here you’ll find everything from supersleek condo units to estates with elegant colonial-style houses set in carefully landscaped grounds, complete with waving palm trees. Al Horrigan, chief executive of the Sarasota-based RSVP Real Estate, an associate of Savills, says prices on the western coast, from Tampa down to southern Sarasota County, appear to have stabilised, which means good deals for buyers whatever the price range.

At the bottom end, you can pick up a two-bedroom, lock-up-and-leave flat in a condominium within walking distance of the beach for less than £130,000 – although you’ll have to move fast, as competition is tough.

At the other end of the scale are the “McMansions” in ritzy Longboat Key, just offshore from Sarasota. Once priced at £1.5m, they can now change hands for just £520,000. Horrigan says the mid-market is the safest option: a detached three- to four-bed waterfront home with pool starts at £390,000. “Single family homes are always a better investment than condominiums,” he says. “More people want them, so they’ll always have a higher resale value.”

If you prefer a wilder social life, head to Miami, for beaches, bars and nightlife. South Beach, in particular, has a trendy retro feel, its art-deco architecture mixed with towering skyscrapers. Oceanfront property is always going to be a safer investment here: while prices have come down 30%-50% from their peak, they are starting to stabilise.

Karla Abaunza, broker of Luxury Living Realty (luxurylivingrealty.net), a Miami Beach-based agent, recommends focusing on the first five roads south of Fifth Street, where half a dozen luxury condominiums represent the best of what’s on offer; a two-bedroom condo would set you back £490,000, but don’t forget the stiff monthly management fees of about 60p per sq. ft.

If you prefer to be away from the city, try Fisher Island, once the home of the Vanderbilts and now an exclusive community, accessible by ferry from South Beach. The cheapest property available at present is a three-bedroom house, in need of renovation, for £580,000. Prices can reach the millions.

In Orlando or other inland areas, it’s worth considering a gated community, for a property you can lock up and leave. Stirling Sotheby’s International Realty (stirlingsir.com) has a three-bedroom house in the Palisades, a golf community in Clermont, west of Orlando, for £120,000; the owner gets access to a pool, boating and tennis courts.

Northeast of Orlando, in the DeLand area, you are near Ocala National Forest and St John’s River, and still only an hour from Mickey and his pals.

Properties with land are a particularly good buy now – land values have dropped so sharply that the extra acreage is almost free. A three- to four-bedroom detached property, with outbuildings and a pool, costs between £116,000 and £162,000.

As with any overseas purchase, there are potential pitfalls. If you plan to a buy with a American dollar mortgage, then any further fall in the pound will increase your monthly repayments; for a fee, you can hedge against this, through a company such as World First (worldfirst.com). Or take out a mortgage half in pounds and half in dollars. Don’t forget that you will also be liable for real-estate tax – a yearly fee equivalent to 2% of the purchase price.

Nor should you count on funding your purchase by letting out the property: many condominium associations have rules governing how many rentals you are allowed in a year. Other local restrictions can also apply.

If that all sounds too complicated, you could always follow the example of Beverley Byrne and her husband, Richard Hearn. During a visit to Florida 18 months ago, the couple, both in their fifties, were tempted by a three-bedroom waterfront villa in Cape Coral, on the west coast, on sale for less than £195,000, but they decided not to restrict themselves to one area.

“Rather than become landlubbers, we bought a 44ft trawler yacht for $69,000, and we’re off exploring Florida’s Sunshine Coast,” Beverley says. Then she adds: “There are still plenty of real-estate bargains out there should we change our minds.”

Golden opportunities? A look at what’s on offer around the state

Palm Coast £180,000

Built 12 years ago, this 1,757 sq ft villa has three bedrooms, three bathrooms, one reception, a pool, a garden and a two-car garage. It is in Grand Haven, a gated community on the east coast of Florida, popular with British buyers. The agent estimates that maintenance costs would be about £1,100 a year. 00 1 386 445 9288, ecpremierproperties.com

Bradenton £130,000

This 1,861 sq ft villa in the Tampa Bay area, built in 2006, has four bedrooms, all with ceiling fans, two bathrooms and a large living room. There is no private pool, but it does come with a double garage, a large back yard and lakeside views. RSVP Real Estate, in association with Savills; 020 7016 3740,savills.co.uk/abroad

Davenport £81,000

This three-bedroom, two-bathroom house is part of a gated development in Davenport, Polk County, which is 20 miles from Orlando. The 1,700 sq ft property, which has an outdoor pool, was bought by the present owners for almost double the price – £156,000 – in 2007.  Call 00 1 407 396 9914 or visit  http://www.britishhomesgroup.com for more information.

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If you already own a home here and you are considering short or long term renting the home, or if you are considering buying a home (anywhere in Florida) please use one of our contact options below – The British Homes Group

We are located on the NW Corner of 535 and US highway 192 above the Edwin Watts Golf Shop and across the road from the Publix super market. Please feel free to visit anytime Monday through Friday, 9 – 5pm.

Our local number is: (+1) 407 396 9914

Our Email Address: Info@BritishHomesGroup.com

Quick Contact Request

http://www.britishhomesgroup.com/contactus.php

Customised Property Search Request

http://www.britishhomesgroup.com/floridaproperty.php

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

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