PROVIDENCE
Seems as if Lennar Homes has not been part of the general industry slow down in the Resort Area. Every time we visit we find a continual stream of homes coming out of the ground.
The lot in foreground has been cleared ready for footer work, while the lot next to it is ready for concrete. The next two are ready for blocks, and the walls are going up on the end two. This is just one side of the street.
Clearly investors continue to park funds in this great development.
Times are challenging these days for sellers, as is more than clear to many who have homes on the market. Why not maximize the potential for the home to sell and profit from the effort at the same time?
Small repairs or touches can make a big difference in perception and profit.
Tip 1: Lighten and Brighten – For a small investment in the area of $70 to $135 or so, the payback in price increase averages $605 to $905. That’s in the neighborhood of a 642% return. Why not take advantage of this?
Give your home every chance for a sale… use what works.
3433 CORTLAND DRIVE
Virtually every builder in Providence has product under development. This one is in the new phase of Cortland Woods being developed by Meritage Homes just across from Drayton Woods. Meritage has their models up, and have four new starts slated to come out of the ground.
Pricing starts from the $170′s… (Pretty good for new homes in a premier gated golf course community.)
You will see over the course of the next week that new build continues to be in demand, even with the resale inventory as high as it is.
SAWGRASS BAY ELEMENTARY
Both the Ibis and Egret Village phases of Sawgrass Bay by Deluca Homes will have less than a 60 second walk for the children. What more can a young family ask?
Drop by and see what a high quality development this will be. New home prices range between $199,900 and $323,900 currently.
Look for buying opportunities to be with us for sometime in the resort area as economic issues facing the U.S. will not be readily resolvable quickly. Florida’s population growth will not be as high as it generally has been anytime soon, until people in the Midwest and northeast are able to sell and relocate. This may take us out into 2010 or 2011 before we really begin to notice a change.
Surprisingly enough though, one report indicates that Orlando may fare better and outperform other markets because it has experienced less speculative overbuilding, has a better job market, and has fewer new condominiums than other Florida urban markets. (2009 Fund Real Estate Forecast)
To reiterate on our post on the 9th, the window of opportunity is definitely now open. Be thinking about it…
NATURAL WATER FEATURE
This should provide a real ‘Touch of Class’ for the entrance to Highlands Reserve, as if it wasn’t nice enough as it is. Owners in this subdivision can be proud of the work the Homeowners Association is doing with the community.
Once finished, we’ll post a completed photo for all to enjoy.
ROLLING OAKS COMMONS
Looking back on the post on December 15, 2008, we weren’t quite sure what this new out-building was slated to be. Now we are sure… a new Olive Garden.
This will be a welcome addition for many diners along the western U.S. 192 corridor.
It is interesting to see new commercial construction continue in virtually every quadrant of the resort area.
Bargains abound.
The window of opportunity to pick up a second home in Florida is certainly open. The price point for many homes currently is currently below that of the year 2000. This will not go on forever.
Once in office, the new Oboma administration policies will begin to take hold with new jobs being created in the green industries. This, coupled with the population growth, will work to reduce the existing home inventory.
Though hard to tell for some, Florida has actually been better off than other areas in the United States and should be considered carefully by savvy investors. A year ago the median sales price for an existing home in Orlando was in the $222,000 range. Just two months ago, the price point was hovering right around $169,000 – a nearly 23 percent decrease.
With perhaps a bit more downside left to go, it’s a perfect time to add a second home in Florida into a portfolio.
ARAPAHO TRAIL
While many of the area builders are generally stalled for the moment, new construction on custom homes goes right on. This example is located on the SW side of Happy Trails on a nice high and dry 5 acre parcel.
The outlook for 2009 continues to be simply ‘slow growth.’ Until the inventory of current homes begins to see some depletion, the building industry will continue to languish. Yet as we move on, pockets of development will flourish as will be seen on the ‘journal’ regularly.
2009 should prove to be an interesting year…
HAPPY NEW YEAR
Florida’s beautiful beaches are available all year round…
Come enjoy them…