Tag: Orlando real estate agent

Value of Orlando Homes Predicted to Increase by 7.3% in 2015

Posted on by Jenny Zamora

Orlando Homes On The Upswing

It is an excellent time for homeowners in the Orlando area. The value of homes in the Orlando metropolitan area is predicted to increase by 7.3 percent in 2015. According to the Real Estate Market Report published by Zillow, this rise easily beats the national prediction of 2.9 percent.

Other predictions

Other than the predicted increase in home values, there are a number of other predictions about the Orlando real estate residential market embedded in the report:

* The average Orlando real estate home value will increase by 15 percent every year. The value has increased to about $161,300. In the other facet, values also decreased in short term and dipped by 1.1 percent in the period between April and May. According to Orlando realtors, home values in the Orlando metropolitan area are now back to the levels witnessed from 2004 to 2007.
* The average rental value increased by 4.4 percent every year to reach $1,296.
* The inventory of total listed for sale residences increased 36.5 percent every year and increased by 4.4 percent every month in May.

When considered all over the United States, the listed for-sale home inventory increased in May and jumped 11.8 percent. Another fact that should be considered here is that a majority of these gains were achieved among residences that are priced in top one-third and middle home values. According to Orlando Realtors, the sale of homes in affordable Orlando real estate – the kind of property favored by people who are buying their homes for the first time – decreased every year in 28 of the country’s biggest metro jurisdictions. These findings came up when the numbers were crunched by Zillow.

Rents

All over the US, rents fell a little in May compared to April. It was a reduction of 0.1 percent and the median rent was calculated as $1,310. National rents (year on year basis) increased to 2.3 percent in the previous month (May).

In May, value of homes all over the US increased by 0.1 percent as compared to April and touched $172,300. This marked its consecutive rise in 28 months when considered year over year. In May, the value of homes increased in Orlando by 5.4 percent. This yearly appreciation in values is the slowest when considered for more than one year. Average rate of interest paid by purchasers decreased to touch 4.39 percent in April.

 

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Testimonial For Jenny Zamora, Orlando RE Broker

Posted on by Jenny Zamora

This is the story of Irene Mazza. When she first came to see us, she had a rental property that was costing her $150 per month and was ready to just let it go to foreclosure. We sat down with Ms. Mazza and explained her options to her. After hearing about all of the options available to her, she decided on a loan modification.

We’re happy to report that not only did we help her get her home loan modified, but she is now instead of losing $150 every month, she’s making  $300 per month on her rental property.

Don’t take our word for it, watch the video and you can hear it right from her.

Testimonial for Jenny Zamora, Orlando RE Broker

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West Manatee Development Inspired By Two Orlando Communities

Posted on by Jenny Zamora

West Manatee’s new residential development draws heavy inspiration from at least two different residential developments of the Orlando real estate community – the Avalon Park and the Baldwin Park residential communities. The Crossroads development has been projected to stretch over 1,322 acres in its first phase of development, on the property of Manatee Fruit Farm in West Manatee.

 

Developer Whiting Preston Leaves No Stone Unturned

The development of the Crossroads residential community is being undertaken by Whiting Preston. To ensure that the West Bradenton community gets enough press even before residential leasing begins it is being pitched as a “hybrid” of Baldwin Park and Avalon Park.


Further, Whiting Preston is known to have hired the designers of Avalon Park for the first phase of development. The Crossroads development will thus sport a design code drafted by Cannin Associates, the urban planning consultants responsible for Avalon Park.

Manatee’s Crossroads development vs Orlando’s Baldwin Park and Avalon Park

Now, a “hybrid” community essentially means one that incorporates the best features of both Baldwin and Avalon, and Whiting Preston is leaving no stone unturned to achieve the same. At the outset, the three communities share a few similarities. They stretch over 1,000 acres and contain between 3,600 and 6,500 residential units.


The hybridization however begins on the streets. The streets of Crossroads will sport the hub-and-spoke distribution paradigm that Avalon Park is celebrated for with the traditional grid distribution that is characteristic of Baldwin Park.


Traffic has been a big problem for the residents of Avalon Park. Primarily because the six villages comprising the community are joined using a network of arterial roads in the hub-and-spoke model that has proven to be less than ideal during the rush hours. Whiting Preston may have to modify the hub-and-spoke model if it wants to prevent traffic problems at Crossroads.

Pricing at Avalon and Baldwin

According to the top Orlando realtors who have dealt with Baldwin Park, the community sells its cheapest condos for around $250,000. The traditional nuclear-family homes easily fetch over $1 million and leased-out apartments, though prevalent, start only in the higher-end range of $1,300.

In Orlando, Avalon Park typically turns out to be more affordable, when compared to Baldwin Park. Orlando real estate agents reveal that condos at Avalon Park sell for well under $200,000. Further, rental apartments are cheaper and attract many students from the neighboring colleges.

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Crescent Central Station Reviewed by City Council for Transportation Impact Fee Credits

Posted on by Jenny Zamora

The Orlando City Council met on February 24 to take another look at the high-end apartment complex in downtown Orlando that backs up the neighborhood’s busiest Sun Rail station. The transit-based multipurpose development seeks to win the transportation impact fee credits from the City Council. This would help site owners Rida Development Corp. save some big bucks.

Former site owner Rida to save over $2 million

Word is that Houston-based developers, Rida would save $275,839 if the Orlando City Council agrees to collect the fees in credits. Rida was the owner of the site at the corner of Livington Street and Orange Avenue where the apartment complex is now being constructed. Its ownership of the site dates back to 2008 when the site was known as the Pizzuti Block.

The main Lynx Central Station and Sun Rail commuter station of downtown Orlando is located in close proximity of the apartment complex.

According to the Orlando Sentinel, this Orlando real estate development will spread out over 6.4 acres of land and also sport a unique transit-based layout that allows residents, visitors and workers to walk through the Crescent Central Station apartment complex as they commute to and from the Sun Rail station.

What the $56 million complex is supposed to look like

Construction at the Crescent Central Station located in Orange Ave. at 480 N has been planned to be carried out in phases. The first phase of the project involves erecting a six-story high residential apartment complex with 279 apartments, an adjoining parking facility, and an open retail space spanning 12,000 square feet.

Apart from the luxury apartments and dedicated multilevel parking space that goes seven levels high, the apartment community will also sport a public park and pedestrians will be able to access the Sun Rail/Lynx station. Developers also plan to make the facility bicycle-friendly, in addition to facilitating pedestrians.

The 12,000 square feet of free space on the ground floor of the complex dedicated for retail will be owned and managed by Rida. Further, businesses that lease in or operate from the Crescent Central Station will be required to fund or at least subsidize the ridership of complex residents and employees, transiting through the station.

The initial phase of construction has been projected to cost around $56 million and real estate agents in Orlando have associated it with increased commercial and residential activities and leasing, not only in the complex itself but also in the neighborhood.

 

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Over 700 New Businesses Crop Up In Central Florida in a Month

Posted on by Jenny Zamora

According to records maintained by the Orlando Business Journal, Central Florida and Orlando real estate area was home to 714 new businesses, all in the very first month of the New Year. The weekly newspaper company collected public records around Central Florida and found that in the month of January 2014, a total of 714 new businesses covering a wide spectrum ranging from smaller hot dog carts or mobile food vans to the larger businesses like ad & marketing agencies and law firms, opened up in the area.

300+ new businesses in Orlando

Among the 714 new businesses in Central Florida in January, close to 300 businesses opened in Orlando. These include several restaurants, subcontractors, retail stores, wholesale stores, tile companies, administrative offices, air freight and attorney offices, wedding services,  delivery services, importers and exporters, event planners, auto sales, auto repair, car wash garages, cosmetologists, medical doctors, massage therapists, personal finance managers, graphic designers and photographers to name a few.

Residents can now eat out at the Schumanns Jager Haus LLC, Qarma Crepes or Bosphorous Turkish Kitchen LLC, shop at the Kiki Caribbean Market LLC, Bevfly LLC, Sweetheartz USA Inc., B&B Multi Services Caribbean Store or D Vapor, groom themselves at the European Wax Center, Pasarella Salon & Spa, A All About Hair Design, Fantastic Sams, Great Looks Salon, Khush Threading Herbal Salon, Next Cut or the Vamp Hair Studio, hire vehicles at I Transit International LLC or purchase from the Terra Firma Auto Group Inc. and Utuado Auto Sales LLC.

The locality now also has new clinics in the Florida Nephrology PLC, JML Diversified LLC, and Solutions Weight Loss to name a few as well as cooking instructors, chefs, a new community home- the 2 Heart To Heart Group Home Inc., private investigators, psychic readers and NGO offices to name a few.

Orlando realtors are hopeful the housing market will flourish

Real estate agents in Orlando attribute the city’s growing reputation as an industrial center to the impressive setup of so many new businesses in one month. According to realtors in Orlando, even though Florida no longer provides moving incentives to entrepreneurs and businesses, the state’s economy and real estate market, in particular, have benefited from the slow but steady growth of the U.S. job market.

The tight supply of homes and improved interest rates for mortgages has improved the confidence of contractors as well as home buyers. As new housing settlements get chalked down, associated businesses begin setting up, and the two support each other simultaneously.

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