by Steve Silcock | Jan 28, 2013 | Investment Property in Florida, Long Term Rental, Real Estate News
We have seen an increasing demand for long term rental in the Four Corners area near Orlando Florida and the trend looks set to continue. Recently we have been helping clients from Canada, France, Europe and the US purchasing multiple properties and placing them directly onto the long term rental market.
Helping clients to find and purchase the right homes in the right locations for long term rental is only part of the service we provide. For non-resident owners we have a dedicated team of professionals each with a clear focus and comitment to delivering the highest possible level of customer service. Our on-line Owner portal makes it easy for them to manage their properties at a distance and provides them with 24 / 7/365 access to every aspect of their homes.
It’s always a pleasure to receive comments from satisfied clients and I am delighted to share one I received last week.
“I will be referring anyone we know who is looking for property management your way as Tim is such a blessing to your company on the property management end of things. In the future, once we have this current property up and running, we are definitely going to be in the market for another rental and will no doubt be using Tim and your company for our investment needs.”
Beth Brown, Lititz, Pensylvania U.S.A
Looking forward the demand for long term rental looks set to continue as more youg Americans are forming households and fueling the need for more long term rental properties.
NEW YORK – Jan. 21, 2013 – Household formation, which stagnated when recession kept many young Americans from leaving their parents’ home or forced others to return to them, is finally on the rise.
The number of households increased 1.1 million in 2011 and nearly 1.2 million last year, underpinned by gradual labor market gains and steady economic improvement.
RBS analyst Guy Berger remarks, “The rise in household formation bodes well for the housing recovery. Instead of having too many houses, we are turning to a situation where there aren’t enough.”
The gains are felt the most in the rental market, where rising demand has triggered a spike in new apartment construction. “We are going to see more recovery in the rental market in the very short run,” says Gary Painter, a public policy professor at the University of Southern California. “As the market improves, people will start to face higher rents and over time, that will spill over into the owner-occupied market.”
Source: “Analysis: More Americans Leave Parental Nest in Boost for Housing” Reuters (01/18/13)
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
If you have a property that you are considering long term renting or you are thinking of purchasing a property for sale in Orlando contact us today and we will be pleased to assist.
by Steve Silcock | Jan 27, 2013 | Homes, Villas and Condos, Investment Property in Florida, New Construction
Lennar have announced dates for the grand opening of their new development at ChampionsGate Orlando Florida. The model homes are nearing construction and we have a “Realtor Only” day taking place on the 6th February at which point we will received the very latest information. This is the most exciting new development to take place for years and we have no doubt that ChampionsGate Orlando Florida will quickly establish itself as the place to “live, work and play” close to Disney.
This week we recived the final “conceptual master plans” for the proposed community facilities – very impressive !!
Whether you’re a first-time homebuyer, an empty nester or someone just looking for a home in the heart of the world’s most famous vacationland, there’s a design and a price range just for you at ChampionsGate. Call the selection what you will. We call it exceptional!
The Country Club at ChampionsGate
Single Family homes from the $240’s
The Vistas at ChampionsGate
Condos, Townhomes & Single-family Golf Homes From the low $200s
The Retreat at ChampionsGate
Resort and Vacation Homes From the $300’s
We are alreadying building a list of clients interested in pre-registering for ChampionsGate Orlando Florida. If you would like us to e-mail you with the latest floor plans, price lists and community information for Champions Gate Orlando Florida please register by completing the contact form below.
[contact-form-7 id=”8985″ title=”ChampionsGate Contact Form”]
by Steve Silcock | Jan 24, 2013 | Homes, Villas and Condos, Investment Property in Florida, Real Estate News
At the “height” of the market crash inventory levels soared. In January 2008 the greater Orlando area we had over 31 months supply – in other words without anymore property being listed for sale, at the pace home were selling, it would take us almost three years to clear the inventory !!! Some four years later inventory levels are below four months housing affordability in the Orlando area is better than it has been for a long, long time.
WASHINGTON – Jan. 10, 2013 – With 11 months of data reported, 2012 will go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of Realtors® (NAR). NAR’s national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; NAR began tracking housing affordability in 1970.
An index of 100 is defined as the point where a median-income household has exactly enough money to qualify for a median-priced existing single-family home, assuming a 20 percent downpayment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small downpayments, affordability levels are relatively lower.
For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011 – the previous record. November’s reading was 2.5 index points below October, but up 1.5 index points from a year earlier. “Although 2012 (had the strongest affordability) on record, excessively tight underwriting precluded many would-be homebuyers from locking-in generational low interest rates,” says Lawrence Yun, NAR chief economist. “Rising home prices and a gradual uptrend in mortgage interest rates will offset improvements in family income, but 2013 likely will be the third best on record in terms of household buying power.
A window of opportunity remains open for buyers who can qualify for a mortgage,” Yun adds. NAR projects that the housing affordability index will average 160 during 2013, which means that a median-income family would have 160 percent of the income needed to purchase a median-priced existing single-family home. Conditions vary by location, with the highest buying power in the Midwest. NAR President Gary Thomas said the minor erosion in affordability conditions moving forward could be mitigated by bank and regulatory policies. “Clearer rules from the government regarding future lawsuits and buybacks of Fannie and Freddie loans could encourage banks to use their massive cash holdings to originate more loans,” Thomas says. “A more sensible lending environment that makes it easier for other financially qualified buyers to get a mortgage would allow many more households to enter the market, boosting home sales as much as 10 to 15 percent,” Thomas says.
Now is a great time to buy property. If you are looking for the perfect retirement community or investment/vacation homes in the Orlando we can help.
by Steve Silcock | Jan 23, 2013 | Homes, Villas and Condos, Investment Property in Florida, New Construction, Real Estate News
Work has begun on the new development at Champions Gate. The new Lennar Homes development will transform the area between I4 and Hwy 27 creating almost 2,000 new homes on a 34 acre site that borders Osceola and Polk Counties.
The former Stoneybrook South community will be completely rebranded as part of Champions Gate. Changes are already underway and the original entrance is being updated. Access to the new community will be available from Tri County Road and also through the entrance on HWY 27.
When completed the three planned developments will almost turn Champions Gate into a small city, Over 5,000 homes, elementary school, office space and hotel rooms. The area will also offer 54 holes of golf – the new 18 hole course originaly built as Stoneybrook South is already taking shape.
Construction of the model homes are under way and the first two will be completed before the end of January. Spacious floor plans and barrel tile roofs will immediately give the impression of liuxury and exclusivity in what is sure to become a premier destaination in the Orlando area.
by Steve Silcock | Jan 22, 2013 | Uncategorized
Florida has always been a popular destination for retirees from around the world. Snowbirds have always been an important part of our market in particular the 55+ retirement communities in the Disney area. Having served this market for over 20 years we have a better understanding than most of this unique market but it looks as though our “typical” client of the past is about to change.
TORONTO – Jan. 15, 2013 – Canadians have traditionally been the dominant foreign buyers of Florida real estate, but they’re finding increased competition from Asian investors who are reportedly pouncing on Florida housing and condo deals.
“They’re seeing the U.S. as a safe haven to put their money,” Shant Epremian, co-founder of Boca Raton, Fla.-based Pink Palm Properties, told The Toronto Star. “I am slowly starting to tap into that market because there is a tremendous amount of money there. Buyers are looking for good opportunities and see that Florida is still on sale.”
But, some say it’s not Asian buyers that Canadian snowbirds face as their greatest competition for Florida housing deals, but investor groups making “bulk investments” – buying up dozens of condos at a time. For example, the Blackstone Group LP, a U.S. private real estate firm, recently spent $2.5 billion snatching up 16,000 houses in nine U.S. cities, including Miami. The investor plans to turn the homes into rentals.
“They are, in essence, wiping out the bottom of the market. It’s forcing other buyers to move up the price ladder,” says John Tuccillo, chief economist for Florida Realtors.
Source: “Chinese, the New Florida Snowbirds,” The Toronto Star (Jan. 10, 2013)
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