blog/web-journal

Saturday, November 8, saw a small number of Ginn Resort properties go on the auction block at an event held in the Grand Bohemian Hotel in downtown Orlando. Included were both homes and lots in Reunion Resort, Bella Collina, and Hammock Beach.

Nearly two hundred people attended the live affair and a good number more joined via the Internet.

One 5BD/4BA property on Whitemarsh Way actually sold to an Internet buyer for $500,000 under the ‘absolute’ auction condition, and a number more sold for as high as $1,080,000 under ‘reserve’ conditions.  Not all of the advertised available homes and lots found buyers however.

All and all though, this auction was a seemingly productive event, and it was interesting to see that even in Florida’s down market situation buyers do exist.

SHINGLE CREEK RECREATIONAL AREA

Located on Babb Road, just off of Old Vineland Highway, this new passive recreational area east of Veranda Palms should ultimately prove popular with many residents and visitors alike once it is opened.

Well within the scope of the immediate resort area, yet slightly ‘off the beaten path’ so to speak,  provides for a small chance that it may remain somewhat of a quiet retreat.

For those of you who have not tried this course, here’s a great reason to do so on your next holiday.

This 7000-yard, 18-hole golf course with a championship layout was named late last month as one of the top best new golf courses in the United States.

- Golf Week Magazine, October 2008 -

For the first time in well over 12 months it is interesting to note that the Florida month-to-previous year comparison sales indicators have shown a positive number. (24% for homes and 11% for condos as of Nov 1)

Certainly not enough to believe it is the start of a trend, but clearly the data indicates a spurt of buying activity statewide.

RIDGEWOOD LAKES

For those that many have missed this small show, there’s ever the chance Ridgewood Lakes will hold their annual Garage Sale event in the spring and some of these craft items may be on sale then.  This vendor provides an idea of what the community center held to offer this past Saturday morning.  A good time was certainly had by all that attended.

Located at the end of the drive in what has now become to be known as La Cresta, High Vista offers attractive living for residents over 55.

What’s this you wonder?

It’s the postal code in which the fourth fastest selling market in the United States can be found: Fisher Island, Florida. (…it is an island, no bridge…)

Median sales price is $3.85 million, up $500,000 from 2007.  Year to year change: + 53.57%.

Not bad… Clearly shows one segment of the market going against the trend.

AQUATIC ADVENTURES

Ever wonder what the nine mile Lake Tohopekaliga in Kissimmee really looks like?  This is the best way to see it. 

And the name you wonder?  The Indians called the lake “Sleeping Tiger” due to the sudden summer storms that pop up with no warning.

Scattered around the state are a number of airboat operators that have access to areas others can not reach.  Enjoy one of these rides while on holiday.

Two things have happened over the last 120 hours that indicate change is on the way.

The first was the passing of the Rescue Plan designed to eliminate the bad paper many lenders are holding.  The results of this bill will begin to be felt early in 2009.

The second, flying somewhat under the radar for moment, is that several large banks have initiated loan mitigation programs intended to be on a large scale.  This interaction with mortgage holders should enable many property owners across the United States who are on the edge, to be able to stay in their homes rather than lose them to foreclosure.

These two small swirls in the slowing tide, provide the first glimpses of what, over time, may become part of  ’The Bottom’ in this housing market decline.

Interesting to note:

The net cost to originate a loan was $2,655 in 2007, a 7 percent rise from the $2,476 reported in 2006. The net cost to originate includes all operating costs and commissions minus all fee income, but excludes secondary marketing gains, capitalized servicing, servicing released premiums and warehouse interest spread.

Even with the increase, suprisingly enough,  U.S. mortgage companies nationwide are reported to have lost an average of $560 on every loan they originated in 2007.

- Mortgage Bankers Association, 2008 -

This new connector is going to be real popular with the folks along US Hwy #27 in the Highlands Reserve area.

When finished, it will run east to west from #27 to Masters Boulevard just north of Bella Trae in Champions Gate.  Access on #27 is at the point between Tierra Del Sol and Stoneybrook south. This new traffic corridor will take the pressure off of Ronald Reagan Parkway for those wishing to use Champions Gate to get onto I-4.