Will Central Florida remain a seller’s market and for how long?

by Elsa Soto | Mar 8, 2022 | Blog, Homeowners, Homes, Villas and Condos, Investment Property in Florida, Real Estate News

Will Central Florida remain a seller’s market and for how long?

Will Central Florida remain a seller’s market and for how long?

According to experts, Orlando is set to remain a seller’s market for quite some time.

Home inventory in Central Florida has been scarce with the market red hot right now – and it’s anticipated to stay that way for the next 12 months.

According to the ORA- The Orlando Regional Realtor Association, home sales have increased nearly 13% compared to this same time last year.

“Within a matter of 24-48-72 hours, you can have as many as… I had one property that had 50 offers. I’ve never had 50 offers on a property,” said Winter Park realtor Jennifer King.

King has been a real estate agent in the Central Florida market for 20 years. She tells the media that more than 1,500 people a week are moving to the area, many relocating from California and New York, and flooding the Orlando market with cash.

But that’s not the only factor driving prices for both home sales and rentals.

“What I’m seeing now is people are actually moving their companies here because of our state taxes. They’re moving their companies and hundreds of employees at one time.”

Some of those include the Walt Disney company, which is transferring 2,000 employees to Central Florida from Los Angeles, CA. KPMG is also relocating its capabilities center from up North. Sonesta International Hotels opened a new corporate office a few months ago, and Innovacare Health Incorporated is also moving high-wage jobs here.

So, what’s really driving the price increase in Orlando’s rental market?

“So many people had investment properties because of our market back in 2007. So they held on to those and prices of those properties have gone up so much. It made more sense for those people to sell those homes. So we’ve lost a significant portion of our rental properties.”

Orlando home values are now up more than 21% and are expected to go even higher through next year with no signs of slowing down in the foreseeable future.

We, at RE/MAX Heritage, have always tried to point out the numerous benefits of working with a realtor. However, in this market, working with a realtor has truly become a necessity for clients’ success.

Realtors know the market, have access to the most up to date property database, have inner professional networks, and can navigate through complex transactions and fast paced negotiations.

For all things real estate in the Orlando area (buying, selling, rental, management, etc.), speak with us first. We’ve been doing this since 1989 (33 years and counting) and it’s the best testimonial that we excel at it!

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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The Most Expensive U.S. Real Estate Sales For 2021

by Elsa Soto | Feb 11, 2022 | Blog, Homes, Villas and Condos, Investment Property in Florida, Local Events

The Most Expensive U.S. Real Estate Sales For 2021

According to Forbes, Marc Andreessen’s $177 million Malibu dream house topped the list of luxury home purchases last year. Several lavish properties in Palm Beach, the Hamptons and beyond also changed hands in 2021.

A drop in luxury housing inventory and increased buyer demand drove the high-end real estate market to record prices in 2021, with several sales in the United States surpassing the $100-million mark. As the pandemic continued, the ultra-wealthy sought second (and third) homes to add to their portfolios and were willing to spend a fortune to make their residences more comfortable for extended periods.

Oceanfront estates in Malibu, Palm Beach and the Hamptons claimed most of the highest sales last year, but a condominium tower in New York also ranked among the most expensive. Home buyers weren’t simply paying for glamorous locations and massive square footage. Among the luxurious amenities included in these mega-purchases were a retinal scanner for master bedroom access and a funicular that leads to the beach.

As always, billionaires were among the most acquisitive when it came to trophy homes—with Brooklyn Nets owner Joe Tsai elbowing Oracle cofounder Larry Ellison out of the top dozen. Ellison’s purchase of a Palm Beach mansion for $80 million fell just short of the biggest sales last year, based on available public records and published reports.

Meanwhile, December saw the close of a $200-million purchase of a 340,000-acre Montana spread by media tycoon Rupert Murdoch. The seller was Matador Cattle Co., a subsidiary of Koch Industries, headed by billionaire Charles Koch. That property is not included in this tally because it is technically a commercial investment, and the closing price cannot be confirmed.

Outside the U.S, luxury properties in Australia and Hong Kong made up some of the priciest transactions in the world, despite both countries experiencing extended lockdown conditions. Hong Kong’s biggest sale played out in the exclusive Peak neighborhood, where an unnamed buyer purchased two units at the Mount Nicholson development for about HKD 1.2 billion (or $150 million). At AUD 60 million (or about US $42.5 million), the reported sale of the Boyd Penthouse atop the ANZ building in Sydney’s Financial District was Australia’s highest transaction of 2021.

And the momentum in the luxury real estate market shows no sign of slowing down in 2022. Back in January, billionaire hedge fund manager Daniel Och reportedly flipped his penthouse in 220 Central Park South in Manhattan for nearly $190 million—about double what he paid for it in 2019. That price already eclipses the highest sale of 2021.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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A Sharks Tale – How to find a good Realtor

by Elsa Soto | Jan 14, 2022 | Blog, Investment Property in Florida, Mortgages, Real Estate Components

A Sharks Tale – How to find a good Realtor

Rather than understanding what investors are looking for, many real estate agents lack work ethic and can be difficult to coach. It is imperative that you let the agent know exactly what you are looking for or he or she will bring you many loser deals.

Do not leave out any details when explaining to a real estate agent what you are looking for. You should specify the locations you are looking for, the price range, the return/cap rate you are looking for, the type of home, the number of bedrooms, and other details which are important to you.

A good agent will also be willing to make multiple offers and make a low ball offer. Some agents do not like investors and only work with the typical home buyer. That is fine, but we need to be aware of that as early as possible.

You should ask other buyers for recommendations before choosing a real estate agent. Often, investors will be more than happy to give you recommendations on investor-friendly agents. If you are serious about investing in real estate, remember that what works for one investor might not work as well for you. Make sure you are comfortable with the investor friendly broker before signing a contract.

It is also possible to find reviews of agents on sites like Zillow and realtor, however I would strongly recommend getting a recommendation from an investor you know. It is also a good idea to find a realtor who is able to bid on HUD homes, as these homes can be great deals and it makes things much easier if your agent is qualified to bid on them.

Finally and most importantly, make sure your real estate agent has invested in properties themselves since these individuals understand us, buyers, far better than those who have never purchased real estate before.

Choosing a good realtor is challenging, but don’t cut corners on finding one as a good realtor will take your business to the next level and make your life much easier.

Re/Max Heritage Realtors are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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Things to Consider Before Buying a Vacation Home

by Elsa Soto | Dec 15, 2021 | Blog, Investment Property in Florida, Real Estate Components, Real Estate News

Things to Consider Before Buying a Vacation Home

Investing in vacation rental properties is one of the best ways of making money and building wealth in real estate. Recent statistics show that Airbnb hosts generated gross revenue of $14.2 billion in North America in 2019. Due to the Coronavirus-induced travel restrictions and stay-at-home orders, gross revenue dropped to $12.6 billion in 2020. However, with the release of the Covid-19 vaccines and the reopening of economies in 2021, the short-term rental industry is expected to rebound in a significant way.

Weigh the Pros and Cons

Even if you’ve made up your mind to buy a vacation home, it’s still a good idea to consider the positives and negatives. Some pros would definitely be:

It’s an investment. Like your primary home, a vacation home will hopefully and probably increase in value. Especially in popular areas near beaches or mountains, you may be able to sell your vacation home for substantially more than you bought it for.
You can earn money by renting it out. If you aren’t going to live in the vacation home throughout the year, you could create a passive income stream by renting it out to other vacationers.
You’ll save on vacations. Depending where the vacation home is, maybe you’ll have to spend money on gas or airfare, but otherwise, you’ll already have a place to stay.
You can enjoy longer vacations. After a while, it’s hard to justify spending $100, $200 or $300 a night at a hotel, and so you cut your vacation short after a certain number of days or maybe a week or two. But this is your vacation home. In fact, if you work remotely, you may be able to work from your vacation home. You can decide the length of your vacation instead of how long you can afford to stay at a hotel.
It can boost your quality of life. It’s not all about money. A vacation home will allow you to a place to recharge and relax, and family members and friends could potentially join you.

But there are also some negatives:

It’s expensive. The cost of buying and maintaining a vacation home is steep. You’re going to be paying another mortgage, plus property taxes, insurance and utilities, just as you do with your primary residence.
The costs could mean you save less for other things. Consider the bigger picture: Will you have less to save for your kids’ college fund or your retirement?
You’ll have to maintain another home and keep it secure. How long will your vacation home be empty? With today’s technology, you can probably set up cameras and monitoring equipment to allay your concern. But pipes can freeze in the winter. A raccoon could chew a hole in your roof and move in.
You might want a change of scenery. In a few years when the novelty of your vacation home has worn off a bit, will you long to go on a vacation somewhere completely different? And will you feel that it’s impossible to take a vacation anywhere else, since you’ve put so much time and money into your vacation home?

We have helped thousands of clients buying Orlando vacation homes. Buying a vacation home in Orlando represents one of the most attractive investment opportunities in the world and clever investors taking advantage of vacation rental income to subsidize their investment. The combination of Orlando’s world famous theme parks and Florida’s year round sunshine has generated an insatiable demand for Florida holiday villas and vacation homes near Orlando. This has created a vacation rental market turning over millions of dollars every year.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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Relocating After Retirement

by Elsa Soto | Dec 4, 2021 | Blog, Homeowners, Investment Property in Florida, Retirement / 55+, Theme Parks and Attractions

Relocating After Retirement

For most people, retirement is a time of freedom. Once you retire, you no longer need to go to work every day and can use your time as you wish. In some cases, when people leave the workforce, they make the decision to relocate. About 1 million people move every year following their retirement. Some people move to be closer to or farther away from family while others take this step for health or financial reasons. When it comes to relocating following retirement, there are a number of benefits. These range from the excitement of living in a different city to saving money by renting a smaller place. If you’re considering relocating after retirement, a few recommendations and steps can help make the transition easier.

Choosing a New City
Once you’ve made the decision to relocate, you’ll need to choose your location. If you’re moving to be closer to your family, then you already know where you’re going, but if you’re changing hometowns to explore a new place or for financial or health purposes, research several locations before making your selection. Check into a city’s cost of living, ease of transportation and access to medical care.

Moving for a Warmer Climate
When people retire, many of them move to warmer locales because the higher temperatures are easier on their bodies. In addition, once you reach your golden years, you may be ready to live in a city where you can avoid shoveling snow or budgeting for high heating bills.

Cheap Places to Live
If affordability is more important than climate!

Buying in a 55 plus community

If you are considering buying in a 55 plus community in Orlando or Central Florida we can help. The team of Realtors at Bardell will guide you through the process of finding the right 55 plus community based on your specific requirements. Florida’s welcoming climate and pace of life provides an irresistible combination but to get enjoy retirement to the full start with choosing the right community.

Find the right 55 plus community for you.

Affordable 55 plus community homes in Orlando are constantly in demand. For most people their lifystyle will have a direct impact on the ammenities that they are looking for within a 55 plus community. Do you want to live in a golf community, do you want lake access, are the club house facilities important ? We have access to homes for sale in all the 55 plus communities and several of our Realtors already call them home and will be happy to share their experiences.

Choose a retirement specialist (SRES)

There is no substitute for experience and we havebeen selling homes in 55 plus communities for over 3o years. It may have been a few years since you last purchased a home but we manage this process for our clients each and every day and have helped thousands of clients looking for homes for sale in Orlando. Scroll down to view homes in a selection of 55 plus communities or complete the contact form and let one of experinced Reators help you start the search

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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Azur Resort

by Elsa Soto | Dec 4, 2021 | Blog, Homeowners, Homes, Villas and Condos, Investment Property in Florida, Theme Parks and Attractions

Azur Resort

The Azur Resort is a new resort style vacation home development in Davenport, Florida. It consists of 126 units, in 4 unit types. It will have resort style amenities with a clubhouse, community pool, kid’s play area and a gym, among other.

The Azur Resort is committed to creating family-oriented neighborhoods that will enrich and compliment the heartbeat of its communities’ surrounding area.

The Azur Resort Principles are deeply rooted in quality construction, customer service and architectural integrity.

The Azur Resort has meticulously chosen it’s locations for development, and has carefully researched the consumer require¬ments and the rental market demands to offer our clients superior, industry leading investment opportunities.

The Azur Resort is a new resort style vacation home development in Davenport, Florida. It consists of 126 units, in 4 unit types. It will have resort style amenities with a clubhouse, community pool, kid’s play area and a gym, among other.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

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