Owner: Hojin's Southwest Orlando Real Estate Scoop URL:http://sworlandoscoop.com Join Date: Sun, 25 Nov 2007 18:31:37 -0600 Rating:0 Site Description: Covers the Southwest Orlando Real Estate market which is comprised of Dr. Phillips, Windermere, Gotha, Clermont, Winter Garden, Ocoee, Metrowest, and Celebration. There's plenty of useful tips, local events, real estate market statistics, forecasts, Site statistics:Click here
Remodeling Online Releases 2007 Cost vs Value Report 2007-11-25 07:57:41 Remodeling Online just published their Cost vs Value
Report for 2007 online and here are the results for the Southeast region of the country. The site is a great resource for remodels, replacements, or additions to a home and there’s plenty of helpful articles.
Here in Central Florida, remodeled kitchens and baths tend to give the most return on investment.
Read more:Remodeling
Is Home Staging Worth It? 2007-11-23 13:55:29 Home sellers often wonder if paying for a service to stage their home is worth the money. According to the statistics from stagedhomes.com, staging results in a sales prices that is on average 6.9% higher and with 50% less time on the market. The findings here probably have some bias but there has not been too many studies conducted to give a valuation to staging.
Staging
services can range from adding simple accessories and rearranging furniture to renting large scale furniture pieces. They declutter and unpersonalize to create a place where it’s easier for prospective buyers to imagine themselves in the home. Essentially, stagers work with a person’s time frame and budget to transform a home to appeal to the most number of buyers at a cost typically between $500 to $2,000 and the process does not take a long time. It only adds a small amount to the costs of selling a home with the potential of huge benefits from a higher price and quicker sale.
There are countless number Read more:Worth
Kohler DTV Shower Controller for Luxurious Baths 2007-11-21 10:56:56
Here’s a gadget for the techie control freak luxury home buyer that is just cool. The Kohler DTV is a touchscreen interface for the shower that controls the temperature and up to 8 shower components. It eliminates the need for multiple valve handles so it really does streamline the look of any shower and comes in a chrome, nickel, or bronze finish. It would typically see installation in a shower with multiple shower heads which is becoming all the rage in luxury homes. The DTV at about $1,000 per controller along with the recently released Kohler Shower
Tiles is perhaps just the thing to make the master bath a true retreat.
Read more:Baths
, Luxurious
Levitt and Sons Files for Bankruptcy and Suspends Building in their Existing Communites 2007-11-20 22:44:31 The Fort Lauderdale based home builder Levitt and Sons who is the 50th largest home builder in the country filed for chapter 11 bankruptcy protection in Broward county on November 9, 2007 with assets under $1 million and debts totaling over $100 million. Levitt recently defaulted on loans of $300 million from Bank of America and Wachovia according to SEC filings. They are holding about $18 million in deposits from over 600 customers who have no idea if their home will ever be built and whether or not the they will ever see their deposits again.
Currently Levitt and Sons is building in the Cascades at Groveland and Hartwood Reserve in the Clermont area and Jessup’s Reserve in Winter Springs. Their completed communities in Central Florida include Summit Greens in Clermont, Avalon Park in SE Orlando, and Summerport in Windermere. They have suspended building and home buyers need to call 877-538-4889 for information about the status of their properties according to their website.
Acc Read more:Building
, Suspends
Orlando is One of the Least Riskiest Markets 2007-11-20 10:33:07 First American’s Core Logic Risk Index was just released for the fourth quarter of 2007 and it sees the Orlando
real estate market as one of the least prone to risk. The index measures the risk of loan delinquencies caused by fraud and collateral risk, house price dynamics, and the health of the local market economy.
This assessment is much different than the PMI Index which indicates Orlando is the one of the most prone to risk.
Perhaps these mixed signals indicate we’re nearing the bottom of real estate market here and poised for the resumption of rising real estate prices.
Read more:Markets
It’s Time to Start Buying Real Estate in SW Orlando 2007-11-20 09:15:38 A Guest Post by Jim Nolan of Inspections by Nolan based in Orlando
& Florida Chapter President of NAHI
email: jimnolan@cfl.rr.com
phone: 407-876-3724
“So, when will we hit the bottom of the market”? I hear that a lot in conversations about real estate in Orlando. “I’m ready to buy - but I don’t want to buy until the market hits the bottom”. That’s another often heard comment about the Orlando real estate market.
Well - when did the market hit the top? Truth is - off the top of their heads, most people can’t tell you. Sometime last year? Actually, research will show that the market actually peaked in about November 2005. Only one problem. We didn’t know that was the peak until April 2006. So what’s the point?
The point is If you wait until you know that the market hit the bottom - you’re going to miss it. We only know where the bottom is when we start going up for a few months in a row.
So - if you’re on the fen Read more:Buying
, Estate
, Real Estate
, Start
Communities for Nature Lovers in SW Orlando 2007-11-19 17:37:24
Buyers looking for homes in SW Orlando
may find that many of the homes are on small lots with little or no trees. The lack of large trees is due to the fact that many of the subdivisions in SW Orlando were built on former citrus farms. Since citrus trees are notorious for attracting termites, developers typically just take them all down prior to development. As land prices steadily rose in recent years, developers have reduced lot sizes to make them more economically feasible. As a general rule, lot sizes tend to become smaller as properties become newer in SW Orlando. Another characteristic of newer communities is that the homes all look similar because many of them were built by tract home builders. The result is a community where the homes look pretty much the same.
The good news is that there are places in SW Orlando where you can find spacious lots with grand oaks forming a canopy over the landscape at South Bay, Winderlakes, Windermere Downs, The Lakes, Marina Bay, Lake Down Sho Read more:Communities
, Lovers
How Much Does a Home Inspection Cost? 2007-11-19 08:51:15 A Guest Post by Jim Nolan of Inspection
.htm">Home Inspection
s by Nolan based in Orlando. He is the Florida chapter president of the National Association of Home Inspectors and one of the most skilled, knowledgeable, and respected home inspectors in SW Orlando. Thanks again Jim for your valuable input.
email: jimnolan@cfl.rr.com
phone: (407) 876-3724
I get those calls all the time. That just goes to show what happens when the general public is left up to themselves to learn about how to buy a house rather than to accept professional guidance from a Realtor. People don’t know how to buy a house - but it’s not their fault - just a lack of experience.
Think about it. How many houses does an average person buy in a lifetime? Three, maybe four? And how often? Once a decade? How would you like to go to a dentist that fills one tooth a decade? How would you like to go to a heart surgeon that does one operation a decade? You wouldn’t. So why can’t you ask a Realtor to assist you
New Golf Front Condo For Sale in Reunion 2007-11-18 15:57:10 Centre Court Condo
s at Reunion Resort
Stunning third floor 3 bed & 3 bath corner condo with views of the 13th hole of the Watson golf course at Reunion Resort boasting 1,686 square feet. Exquisite finishings include crown molding, extensive ceiling detail, custom drapery, granite counters, stainless steel appliances, decorator accents, and much more. Two walk in closets in master with a safe, designer fixtures, and transferable golf membership make it even more irresistible. World class resort amenities include 3 championship golf courses designed by Arnold Palmer, Jack Nicklaus, and Tom Watson that plays host to the LPGA’s Ginn Open and home to the Annika Sorenstam golf academy, tennis courts, spa, fitness center, interactive water park with slides, lazy river, jacuzzi, and boardwalk, playground, activity trails, Segway rentals, and horse stables all in a safe guard gated setting. Greg Norman’s Champion’s Gate and the world renowned David Leadbetter Academy ar Read more:Front
Lake Starke & Lake Olympia in Ocoee 2007-12-01 14:45:32
Stark Lake and Lake Olympia
in Ocoee are some of the very few places in SW Orlando where you can find affordable properties on a ski lake. Lake Starke is a good size lake covering 203 acres and much deeper than most lakes in Central Florida. A marshy area connects it to Lake Olympia which is a bit smaller in size but plenty big enough for water skiing. Both lakes are also great for fishing for largemouth bass but can be difficult without a boat on colder days when the bass congregate in deep pockets of the lake. At least the city provides a few docks for fishing and a boat ramp. There’s also a trail around Lake Starke and it’s a great place to go bird watching. These photos were shot on a stroll there one morning.
Reasonably priced lakefront homes can be found in the following subdivisions: Admiral Pointe, Lake Shore Gardens, and Lake Olympia. They can also be found on Lakeshore Drive in downtown Ocoee. Prices here currently start just below $400,000 and can go up to abou
Robert Shiller Calls for Bold Thinking on Housing 2007-11-30 12:19:23 Robert Shiller
wrote in a recent article for the NY Times, “WE have to consider the possibility that the housing price downturn will eventually be as big as that of the last truly big decline, from 1925 to 1933, when prices fell by a total of 30 percent. This crisis should be an occasion for some inspired thinking about fundamental changes in our real estate institutions. The actions that have already been taken are not impressive. The housing market is worsening, and more and more home owners are getting into trouble with their mortgages.”
He recalls the innovations made in the real estate industry during the Depression Era between 1925 and 1933 and calls for similar actions between private industry and government. He points out that we are dealing with the problems today with outdated policies that were created during the Depression 70 plus years ago and policies for Federal Home Loan Bank System, Freddie Mac/Fannie Mae, the appraisal system, and bankruptcy laws require Read more:Housing
, Robert
The Withers-Maguire House 2007-11-29 11:26:33
The Withers-MaguireHouse
located on Bluford Ave. in downtown Ocoee is one of the oldest homes in the area and on the National Register of Historic Places. It was built in 1888 by Brigadier General William Temple Withers of the Confederate Army. The home was built in a 19th century architectural style called Gothic Stick which was popular from the Victorian Era until the end of the Civil War. General Withers played a prominent role in creating the city of Ocoee and the Ocoee Christian Church. The home was purchased in 1910 by David Maguire who resided in the home with his family for the next 73 years. Today, visitors can view the inside of the home on weekends between 2pm and 4pm.
Words of Inspiration from Steve Jobs 2007-11-28 21:42:46 I noticed this speech made by Steve
Jobs at a graduation ceremony for Stanford University on the Phoenix Real Estate Guy blog and just had to share it although it’s a little on a tangent. We all get sidetracked by things that happen in our lives and at least for myself, speeches like this one remind me of the important things in life and revitalizes my passion and focus. He really does provide some inspirational words that’s worth the few minutes to watch.
http://www.youtube.com/watch?v=60cDHb-tvMA
Read more:Inspiration
, Steve Jobs
, Words
Intermezzo at Rialto to Be Built as Apartments Instead of Condos 2007-11-27 15:04:58
The Condo Metropolis blog reports that the developers of Rialto have decided not to build condos and are replacing them with apartments. On November 5, Marcus Burke wrote in a post entitled Orlando’s Buyer Market: Game Over that ” in the Dr. Phillips area, the developers much hyped Intermezzo at Rialto shut down the sales center last week and will now build apartments instead of condos”.
I tried reaching the sales office to confirm but was transferred to 3 different people and never actually got an answer. If anyone has more info on this news, please make a comment. Read more:Apartments
, Built
, Instead
PGA Q School at Orange County National 2007-11-27 08:52:40
The final stage of the 2007 PGA tour Q School
gets underway at OrangeCountyNational
in Winter Garden on November 28 and finishes on December 3. Both the Crooked Cat and the Panther Lake course will be utilized for the event and will provide a stern test with both courses stretching about 7,500 yards. Notable local golfers fighting to finish in the top 25 out of the field of 166 players to qualify for the PGA tour include Lee Jansen, Steve Lowery, and Skip Kendall. Read more:Orange County
A Car Crashes Into a Gotha Home 2007-11-26 12:57:41 Early this afternoon, a local elderly couple lost control of their car and crashed into the front porch of a home on Hempel Ave. in Gotha belonging to Gary & Vivian Meredith. The car ruptured a natural gas line, ran through a fence, missed a maze of large oak trees, and slammed into the porch. The porch sustained significant damage and the driver and passenger were taken to a local hospital. Early reports indicate the driver suffered from a pre-existing medical condition. Read more:Crashes
2007 Sales Statistics for Stonebridge 2007-11-26 10:29:00
As of the date of this report, 23 sales have taken place in Stonebridge (Stonebridge Place, Stonebridge Lakes, Stonebridge Commons) subdivision located off Arnold Palmer Dr. in Metrowest with an averages days on market of 150 days and 145 properties currently still for sale.
10 townhouses have sold in 2007 at the Stonebridge with an average price of $261,700 and median price of $244,000. The highest sale price was $340,000 and lowest sale price was $195,000. The average price per square foot was $155.41. The most recent sale took place on September 20, 2007 at the Vistas at Stonebridge Place for $214,900. You have to look way back to May to find the most recent sale for a Mandalay townhouse at Stonebridge Commons which sold for $313,000 choreographed by yours truly.
9 condo sales have taken place in 2007 at Stonebridge with an average price of $178,900 and average price per square foot of $150.40. Sale prices ranged from $140,o00 to $215,000. The bulk of the sales took place in the e Read more:Sales
, Sales Statistics
, Statistics
The Homes of Billionaires 2007-11-26 08:59:57 Forbes Magazine takes a look at the homes of billionaires and finds that they typically like to stay close to where they grew up. Billionaires such as Bill Gates, Paul Allen, and Warren Buffet have all remained in their home towns. Microsoft’s Paul Allen still lives with his mom albeit on a gigantic estate where they probably don’t run into each other that often, Bill Gates had numerous secret passageways built into his home, and Warren Buffet still lives in a home in Omaha that’s only valued at $500,000 to $750,000 because he says he likes living like he did in his 20’s. The interview below takes an intriguing look at these billionaire’s homes.
http://www.youtube.com/watch?v=jRrRRSNOd4Y
Read more:Homes
Heritage Hills to Become The Newest Active Adult Community in SW Orlando 2007-12-08 15:01:42 A new active adult community for those above the age of 55 is in the works for Winter Garden. Lennar has announced plans to build HeritageHills
between Marsh Road and Hancock Road. I noticed this development fishing on John’s Lake and it appears that they will also offer some properties on the lake. It’s in a nice section of the lake that provides for wide open views and some good bass fishing. Hopefully the development will not destroy this honey hole. It appears that utilities and roads are going in right now so I expect this development will be building homes soon. I checked the Lennar website but no floor plans and prices are available yet. Updates will be provided as soon as they are available. Read more:Active
, Adult
, Become
, Orlando
Tibet-Butler Preserve 2007-12-06 12:29:54
The Tibet
-ButlerPreserve
located on SR 535 is a little known oasis in SW Orlando. I’ve been driving by the place for years and never stepped foot in the place. For some reason, I was compelled to check it out one day and I must say it’s pretty neat.
The nature trails are wonderful especially this time of the year when the weather is just right. The Vera Carter Environmental Center welcomes you to the property with some compelling displays about the native wildlife in the area and gets you amped to see some swallowed tail kites, red tailed hawks, ospreys, or some bald eagles that are supposed to be in the preserve in great numbers. I was excited about the idea of photographing some of these birds but only saw some blue jays and cardinals by the bird feeders. Maybe next time.
The preserve covers 440 acres and 4 miles of trails of which the Osprey Outlook Trail is the best. The long boardwalk over the swampy and marshy areas and the gazebo overlooking Lake Tibet-Butler makes
Lake Down Peninsula Estate 2007-12-05 21:39:16
One of the most stunning properties on the Butler Chain of Lakes can be found on a peninsula along the shores of Lake Down providing for majestic water views from seemingly everywhere. The only other place in SW Orlando where you can find lake frontage on the front and rear of the home is the peninsula located in the Cypress Point subdivision between Lake Sheen and Lake Tibet.
This masterpiece on Lake Down was designed by renowned local architect Mark Nasrallah and built by Ray Coudriet in the year 2,000. 5 bedrooms, 6 baths, 2 half baths, 4 car garage, detached pool house, and 12,799 square feet sits on 2 acres with 1,100 feet of frontage on Lake Down. Some notable features include a 5,000 bottle wine cellar, a fully featured gym with equipment from Cybex, and just tons of architectural details hand carved from the finest woods and stones.
The property was offered for sale in 2002-2003 for $9 million and then taken off the market. I guess the owners decided it was too good to give up Read more:Estate
A Questionable Future for Independence 2007-12-05 09:02:21 Tousa, the parent of company of Engle Homes and current company funding the development of Independence
in Winter Garden stated it may file for chapter 11 bankruptcy protection after reporting a $619 million loss at the end of November. Chapter 11 is a reorganization filing so people under contract in this community will probably get their deposits returned but how quickly is really the question to be asking. They’ll also be wondering if and when they’re home will ever be built. I’ve recently noticed Engle Homes advertising a lot of discounts for their homes but if it was me, I’d stay tuned to news about Tousa before signing any contracts with them. It’s just my opinion though.
Another local builder Levitt and Sons filed for chapter 11 bankruptcy a few weeks ago and their customers are sitting in limbo. They have no idea when their home will be built or deposits returned. Construction has ceased in Levitt’s communities and Tousa will most likely take Read more:Future
Brevard County Approves Feasibility Study for Artificial Reef Off the Space Coast 2007-12-04 11:10:06
The Brevard County
Commission approved funding for a feasibility study to be done on the proposed artificial reef a 1,000 feet off the SpaceCoast
yesterday. The proposed reef will stabilize erosion, reduce the need for beach re-nourishment, create a habitat for marine life, and best of all create a world class wave for local surfers.
Scientists working on the project claim that the reef will provide ridable waves 300 days a year and average ride length of 40 seconds which is unheard anywhere on the East Coast.
Some notable completed artificial reef projects include El Segundo in Los Angles, Cables & Narrowneck in Australia, and Mount Maunganui in New Zealand.
Read more:Artificial
, Study
Views of the Housing Market from Harvard 2007-12-03 09:31:42 Nicolas Retsinas, director of Harvard
University’s Joint Center for Housing
Studies, says in this interview with the Wall Street Journal that the housing market is cooling because lenders overlend, builders overbuild, and consumers now expect a drop in prices. We really don’t need a degree from Harvard to figure that one out, but he also finds a few noteworthy facts.
First of all, Retsinas finds a stickiness to home prices. It is interesting that home prices have been so resilient even in this down market. He points out that most of the homes for sale are by people who live in them and if they don’t get the price they want then they just stay. So, perhaps he’s suggesting that consumer expectations are misguided on falling prices.
Secondly, he finds that immigrants accounted for 40% of new households in the past 5 years and that the long term outlook for housing is good because of the expectation that this trend will continue. Demand for housing has long been vie Read more:Market
Waterstone to Become the Newest Luxury Community on Lake Butler 2007-12-02 10:02:13
There will be a new guard gated subdivision to be built along the shores of the famed Lake Butler
called Waterstone. It will be located in Windermere off Winter Garden-Vineland Rd. and adjacent to Windermere Preparatory School. No information on pricing is available yet but with the builders involved in this project such as C.J. Unerstall, Derrick Builders, J. Richard Watson Company, Jones-Clayton Construction, N.W. Harris Construction Company, Stonebridge Homes, and Williams P. Campbell Custom Homes, my guess is that pricing will probably start at around $1,500,000.
So far the land has been cleared and construction of the roadways have started. It certainly sounds like an interesting project but I’m skeptical after witnessing the slow pace of construction at nearby Lake Davis Reserve which has completed just a handful of homes in the 3 years its been in development. Hopefully this community will built out some spec homes to get things going as they are doing in Bellaria and Lak Read more:Become
, Luxury
Nikon D300 Wins Camera of the Year 2007-12-18 21:01:17
The newly released Nikon
D300 just won Camera
of the Year honors on popphoto.com. It replaces the ever popular D200 and makes some key improvements for real estate photography. The mega pixel has been raised to 12.3, the AF system has been increased from 11 points to 51 points, the 3″ VGA LCD screen provides much more clarity and color, a Live View mode has been added to make composing easier, and probably the best improvement for real estate photography is the new Active D Lighting.The Active D Lighting boosts mid tones and increases the dynamic range to help avoid those washed out looking windows on interior photos shot during the day.
According to Ken Rockwell, the best feature of the D300 is it’s ability to create super saturated color and it’s ability to handle highlights. It certainly sounds like a fantastic camera but I sure wish they included a full frame sensor. At $1,800, the D300 is definitely not cheap and the full frame Canon 5D costs just a few hundred
Fly Me To The Moon 2007-12-18 17:11:02
With so many real estate markets expected to continue price declines next year, it’s been tough to find a place where price are supposed to go up. After an exhaustive search, I noticed an article on Reuters showing that real estate prices on the moon have increased 40% in 2007.
Who knew you could buy anything there. I didn’t think anyone has been there since Kennedy was president. An investment banker at UBS quoted in the article says that real estate prices on the moon peaked in December 2005 at $37 per acre and then fell to $16 per acre in January of 2005 before making a comeback in 2007.
A quick search on Google netted a ton of sites offering real estate for sale on the moon. Some of the ones I found were lunarregistry.com, moonshop.com, and lunarembassy.com. According to the United Nations, governments can not claim ownership of the moon so I’m not necessarily sure how they’re pulling this off.
It’s probably a scam but it’s quite interesting to
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