Category: Orlando Realtors

Orlando Among the 10 Hot Technological Hubs of 2014 – Job Seekers and Realtors Excited

Posted on by Jenny Zamora

2014 brings in new hope for Orlando real estate agents as the city marks its presence on Techie.com’s list of most promising technological hubs in 2014. The online magazine looked at multiple factors like the presence of universities, cities with extensive physical infrastructure, and support from the government authorities as well as certain intangible factors like the presence of start-up culture in the cities.

The editorial staff looked for the number of informal meetups that young techies have in the cities on weekends and after office hours as an indication of the city’s growth potential. And the results of its extensive survey have brought a smile to the Orlando real estate community, particularly the listing agents in Orlando.

Techie.com’s list of 10 tech hubs with the most promising technological scene in 2014

The top ten cities, chosen from a pool of nearly a hundred are:

1-Atlanta

2-Burlington

3-Urbana/Champaign

4- Detroit

5-  Ft. Collins

6-  Hunstville

7-  Kansas City

8-  Orlando

9-  Sioux Falls

10-St. Paul/Minneapolis

Orlando has more to offer than just Disney and retirement/hospitality communities

For years, other aspects of the City of Orlando have been overshadowed by its retirement communities, the hospitality industry, and of course the Disney Land. Now that it has the seal of Techie.com as one of the technological hotspots in the US. In 2014, real estate agents in Orlando now expect a wider demographic in the real estate marketplace of the city.

The Creative Village, for example, is being projected as Orlando’s prime “urban infill” neighborhood, housing the big players in the higher education industry. Situated in Downtown Orlando, where the Amway Arena previously stood, the Creative Village spreads over 68 acres and will be a transit-oriented facility for multipurpose use by neighboring facilities.

The city’s technological scene has also been facilitated by Florida’s gaming boom. The development of video games is especially hot in Orlando recently. Giant players like the Iron Galaxy have set up firms in Orlando – to bring local job opportunities for citizens.

Low overhead costs, in comparison to popular development cities like LA, San Francisco, or Chicago as well as high density of tech support and talented youth are two of the primary reasons why several major firms are bringing their operations to Orlando. And even though the State of Florida recently retracted its incentives to companies for relocating or setting up new offices, Orlando will continue to gain momentum as a technological hotspot through the New Year.

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Summer Home: How to Keep Your Property Protected

Posted on by Jenny Zamora

Summer homes are fantastic getaways while you’re using them, but they can be a constant source of anxiety and expense when you aren’t. Any number of little problems can turn into very big ones if you aren’t there to catch them, so being able to protect your vacation property is of paramount importance.

Protect Your Property from Thieves

One of the biggest concerns for vacation homeowners is protecting their properties from burglars and vandals. In this case, a security system can be a smart investment. It’s also helpful to choose a vacation property that is near-permanent residents, with a neighborhood watch program, or in a vacation community with its own security. While it might be tempting to choose a vacation home that lets you get away from it all, it also means it’ll take longer for police or security to respond to an emergency.

Protect Your Property from Fires

Fires are absolutely devastating, but they can often be prevented. Unplug appliances that won’t be in use while you’re away. Turn off energy vampires like water heaters, and you’ll even save money on your electric bill. Lastly, make sure that your furnaces or other heaters are properly serviced and maintained. Just because a heater is only used during vacation, doesn’t mean that it’s okay to neglect it; even underused furnaces need some love to keep them operating safely and efficiently.

Protect Your Property from Floods

Many people associate flooding with beach, or lake-front vacation homes, but they aren’t the only victims. Any area with below-freezing temperatures can suffer from leaking or burst pipes. Tree roots can also damage pipes and lead to leaks, blockages, and flooding. Don’t set yourself up for a nasty surprise– turn off the main water supply to the house before you leave to return to your regular home, and have a good plumber to call in case of emergencies.

You can’t foresee every emergency, but many of the worst ones are preventable. A good security system can prevent break-ins. If your vacation home is in Orlando, AC repair companies in Orlando can help keep your heating system safe and running smoothly all year round. Orlando service companies can help you keep your vacation home dry and your water flowing. By properly closing up your vacation home at the end of the season, and knowing who to call when things go wrong, you’ll be able to keep your vacation home problem-free.

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Four of the Biggest Investment Sales of 2013 in Central Florida

Posted on by Jenny Zamora

2013 has ended and realtors all over Florida, including Orlando realtors, are looking forward to a stronger market in 2014. The previous year saw some very reassuring investment purchases by major private equity firms. Apart from bringing immediate dollars to the Orlando real estate market, these sales also helped boost the confidence of investors and top Orlando realtors believe Florida can expect more investment in 2014.

Here’s a look at four of the hottest deals in the Central -Florida real estate sector that shone brighter than the others in 2013.

Hyatt Hotels Corp. shells out nearly $600 million to purchase Peabody Orlando

The biggest deal of 2013 was signed on October 1, when the Peabody Exchange LLC bought the Peabody Orlando off UST Hotel Joint Venture Ltd.’s hands for an impressive $591.7 million.

The 1,641-room sporting luxury hotel located on the International Drive changed hands and flags in 2013 from the Memphis, Tennessee owner to one of Chicago’s biggest hotel brands – the Hyatt Hotels Corp. 

Peabody Orlando is especially famous for its Peabody ducks and though the ducks remain, the hotel’s name doesn’t anymore. It was renamed and is now known as the Hyatt Regency Orlando Convention Center.

  DDR Corp. purchases Winter Garden Village for around $200 million

 

The DDR Corp has already carved a niche for itself in property acquisition and July 2013 saw the Ohio-based property investment trust shell out $196 million in favor of Phoenix’s real estate investment firm – the Cole Real Estate Investment agency.

 Winter Garden Village located in Beachwood, at the Flower Groves lifestyle center is generously spread across 1.1 million square feet and this retail development, signature of West Orange County has now been put up for lease.

  Downtown Orlando’s relatively new apartment complex changes hands for close to $60 million

This deal was finalized three days prior to the sale of Winter Garden Village. Mesirow Financial Holdings Inc. purchased the newly constructed SteelHouse Orlando apartment on July 16.

The Chicago-based private equity firm paid $59 million to the developer, Pollack Shores and became the owner of downtown Orlando’s new 326-unit apartment complex, which was only about 60 percent occupied at that time.

Post Properties Inc. becomes the new owner of an apartment complex near Disney World

 

The 300-unit apartment complex, Crosswater, at the Lakeside Village saw a shift of hands-on on May 29 and its eventual renaming to Post Lakeside. Post Properties – a real estate investment trust based in Atlanta paid $48.4 million to developers Boyd Development Corp, and Greenfield Partners LLC, based in Orlando and South Norwalk respectively.

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English Style Gardens and Latin Amenities – Winter Park Village Is Going to Charm You This Year

Posted on by Jenny Zamora

The Winter Park Village is all set to gain a new Avatar this year and work on it has already begun. As part of the Winter Park Village revamping project, construction has begun on a new apartment complex in the Village.

The project

 

Set to have 204 units in total, the apartment complex will offer Class A apartments to renters. Within walking distance from the premium Winter Park Village, which is unanimously regarded as Orlando’s second-highest real estate submarket by Orlando real estate agents and short sale specialists, the apartment complex is expected to be a huge hit among well-to-do renters.

Many real estate agents have already begun receiving queries about the complex, which is estimated to cost around $30 million in its initial construction phase. Orlando realtors will have a good time looking for an area that boasts an occupancy rate of over 94 percent.

Winter Park’s own architect  ACi Inc. has designed the entire project except for the amenities which have been designed by Miami’s famed landscape architect, the Arquitectonica International Corp.

Put together by the best in the market

Several big players associated with the Orlando real estate market will be involved in the project. The Finfrock Construction Inc. has been roped in to finish the construction of the $2.8 million parking lot and reports suggest half of the work has already been completed.

The Castro Lifestyle Properties LP and Epoch Properties Inc. have ventured into the construction of the Winter Park Village apartment complex. Epoch Properties Inc. is a local favorite and has previously worked on several high-profile projects in Winter Park.

 

Major highlights

The $30 million projects is expected to create over 300 construction jobs while it lasts and industry insiders specializing in rentals have projected a median monthly rental of $1,174, per apartment.

Apart from the construction of 204 rental units, the Winter Park Village construction project entails the construction of a 325-space parking garage, for an estimated $2.8 million.

Developers Castro and Epoch have also signed an agreement with the city of Orlando to revamp existing parks and include a bridge at the water retention area. ACi Inc. has added further zing to the project by designing an area near Dennings Road that resembles an English-style garden. The pool area, as well as amenities designed by Arquitectonica International Corp., have a Caribbean/Latin vibe to them, increasing the property’s appeal.

Set to be completed by the fourth quarter of 2014, the Winter Park Village apartment complex is expected to reach estimated occupancy rates rather quickly.

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Is Your Home Sale-ready?

Posted on by Jenny Zamora

The Orlando real estate scene is looking up, but selling your home can be quite a tedious task. Right from finding a good realtor to getting the right value on your property, a series of things need to be taken care of while selling your house. An important aspect of the process is knowing how sell-able your house is. Considering you’ve lived in your current home for a while now, you need to estimate whether or not your house needs a makeover. Here’s what you need to know before listing your property with an Orlando realtor.

What do buyers want?

Most buyers prefer a house that in a good shape and doesn’t need any fixing, so they can move in immediately without having to bother about renovation concerns. Other buyers don’t mind fixing the house themselves as long as the fixes required are cosmetic repairs and it’s reflected in the price. This could be re-painting or replacing fixtures in the house, basically, repairs that won’t burn a hole in their pockets. It is highly unlikely you’ll find a buyer who is willing to tear down the whole house and renovate it altogether. But if the buyer needs to do major changes, like replace the roof, he will probably ask you for a significant discount on the property price. However most buyers will shy away from going through the trouble of replacing a roof, as it might bring in additional costs from having to change the sheathing or the rafters.

Home-modifications you cannot compromise on

Fix any faucets that tend to leak.

Re-paint walls if they are stained or the paint is chipping out.

 If the carpets are tattered, replace them.

Make sure the roof isn’t in a run-down condition.

If the fans or lighting fixtures are outdated, replace them.

Make sure you patch all holes, if any, in the walls or ceilings.

Replace curtains, linens if they are in a bad shape.

 Make sure that the HVAC systems and appliances are in working condition, and if not , get them fixed.

Broken windows need to be replaced.

A smart seller will estimate the return on investment on his home improvement before diving into it.

Making a note of the amenities in the neighborhood houses can also give you a hint on what prospective buyers might be looking for. A little bit of repairing can take you a long way rather than presenting your house in a dilapidated state.

 

 

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