Orlando Real Estate Blog

This is a new listing I have and it is located at 1020 Cranberry Drive in Orlando, Fl.  This location is good since it is just outside of MetroWest and close to all the major employers and HWY 50.  This home is a 3 bedroom 2 bathroom with a 2 car garage and fenced back yard.  The house have been completely remodeled and has new carpet and stainless steel appliances.  Downpayment assistance is available to those that qualify and the price is only  $105,900! This is WAY below the median sales price for Central Florida.  Great Financing programs are available but you do need to have good credit and a job….no way around that for a while. Call me for your personal tour of the property at  407-595-6306  or email me at ed@flusa.com

  Great tile work….and affordable!

This is a new listing I have in the burgeoning southwest Orange County Area located in the Good Homes Road Office Park.  Convenient four way on and off ramps to the 408 (East-West Expressway) is just feet away from this complex allowing you and your client great access to all of Central Florida.  What I have for sales is an oversized 4000 square foot pad(83.3′ x 48′ x83.3′ x 48′) and is the largest office pad in the park and by far the most observable from the street (5 land Good Homes Road) is also parallels the main entry into the complex.  This property is offered at $315,000.

                This site backs up to Good Homes Road.

     This is one of the 8 buildings already up in the park…

We have the building plans ready for the shell and you can select the interior layout, bring your own builder or use ours.  There has been no better time then now to invest in your future.  Call or email me today for more details.  407-595-6306 ed@flusa.com

A few months back I reported on some horrible auction experiences.  Of late we have been attending several auctions…some better then others.  The one I see to be the best at the moment and has the most professional setup is REDC which specializes in bank owned aka REO properties.  I have attened several auctions to date held by REDC, with my clients, and we have bought3 properties.  All proved to be good deals…  However, we had been the highest bidder on several occasions only to have the bank refuse our winning bid…all of the properties have a “reserve bid” amount that is the lowest the bank will take, unfortunately they do not share that amount with you until they tell you it has not been met with your bid.

Before you go…do your homework, and have me attend with you, it doesn’t cost you a penny and you get my services.  Many times I have seen properties bid up to prices above what the property is currently listed for. I saw one sell for $50K that was listed for $40k…yikes!  Why would you pay more then the bank has it listed for in the MLS….plus REDC charges a 5% premium on top of that.   Keep in mind that the banks I have done deals with recently, and it has been about 12 in the last three month, have always taken less then the list price.  DO NOT PAY MORE THEN THE PROPERTY IS LISTED FOR!!! That is just crazy and shows you how a fool and their money are surely parted.

Still our favorite way to approach bank owned properties is via the MLS and traditional methods.  We have an inspection period (Which is not granted in an Auction Property) and you don’t have a room of people bidding against you for the same property.  I guess people are competitive by nature and when you want some thing, you want it and will pay a little more to get it even if it is not the best financial decision.

So go to the auction, buy something…the timing could’t be better, but be sure to do your homework on the properites and do not pay more then the property is listed for.

15007 Cedar Branch Way Orlando, Fl. 32824  4/2/2 Gated community/community pool $1,295.00 per month

This house is 4 bedroom 2 bath with 1,960 sq ft in a gated community with a community pool and playground. The house also backs up to a conservation area.  You will also see the house has a lot of tile, except for the bedrooms. All this for only $1,295.00 per month…

Nothing beats new…and builders want to sell sell sell.  They are currently under some stiff competition from bank owned properties and have been forced to drop pricing. The community that I have found, that I can say, is the best value that I know of is called “Southern Fields” and the builder is KB Homes.  They build big homes at a low price…now you can push the price way up with upgrades…but don’t do that, that is what time and Home Depot are for.

This is amazing…one home is a 5 bed 2.5 bath for only $203,900…that is only $59.00 psf.  Be a real ”playa” and throw another $20k in for a 3 car garage and a patio in the back…even then you are only looking at $65 psf.  And the location is great…in Clermont, Florida just off of 27 and only a mile and a half south of Hwy 50.  It is also surrounded by other more expensive homes which is always a good thing.  This area is also still seeing solid sales… all things considered.  This is an excellent area just outside of Orlando and is a major growth area of Central Florida.  Plenty of new retail development has also taken place over the last couple of years just down the street from this site.

I would be more then happy so send you a full price list and site plan so feel free to call or email me for further details.

Calling all builders or individuals looking to buy right.  We have 13 finished lots available in the beautiful community of ”The Lakes” in Lake Alfred, Fl.  This community is just outside Orlando and is close to I-4.  These lots are all around 55X120 in size and can accommodate a home over 3,000 sq ft. The developer of this community had over $60,000 into each lot and they can now be bought at @ 66% off..that is only $18,500.00 each!  Builders…buy one or two at a time…what an opportunity.  These are the last few lots left in this community and you will see some of the photos below that show the high level of construction already used in the community.

Just across the street from this community you will find the city’s own nature preserve on 112+ acres nestled along the north shores of Lake Rochelle. This is the former Mackay Estate residence and is available for weddings and other special events. The sprawling gardens will include scenic nature trails, an inviting playground, fishing pier and canoe launch area. Feel free to contact the park at 291-5270 for more information.

Feel free to contact me for more information at any time!  407-595-6306

   Hope they drive motor cycles!

I was driving down the road the other day and came across this house which must be one of the world’s worst locations. It gave me a laugh and I had to take a picture.  This is a newer home and now major road work is being done in front of it, a street light is in the driveway and a road is going in on the side.  I am sure it  has been bought thru eminent domain by the state but what a waste of time and money.  Anytime you buy a home on a busy road the potential is there for it to we widened.

 Any time you need a realtor in Central Florida…please keep me in mind and I will make sure I do not sell you a house that ends up like this one did!

We have been looking around for opportunities in the Windermere community of Summerport.  The location is great, the builder was good, and the amenities are just what you would want.  The problem is that most of the homes sold at the peak of the market in mid-2006.  This deal in particular was for a 4 bed 2 and 1/2 bath + bonus room, pool, a conservation view and 3,115 sq ft.  Sold in 2006 for $577,000…the bank agreed to our offer of $265,000 cash after a long waiting period.  During that time we have seen things further deteriorate in the community…the “RESET Button” has been pushed….and unfortunately the “Reset Button” is not the same thing as the “Easy Button”.  This is greater then a 50% reduction in value.  At one point you see a home that looks great and the two beside it have not been maintained at all and look horrible. 

How long will that one guy hold out? Who will bail him out?  At this moment you can buy homes for a lot less then they can be reproduced for, interest rates are low and your dream home is closer to your grasp than you thought possible. The only thing to keep in mind is that if you do buy today, it will take some time for the banks to sell all of the inventory they have coming online and that you will have to look at some sorry lawns for a year or so. The good news is that very little land around this community is available for development due to traffic and school concurrency issues so the competition for reselling these home in the future will be low…if you can imagine that. 

Today we have just contracted on a bank owned house with a cash deal for a 4/2 1960 sf on conservation in a gated community close to the Lake Nona area for $155,000.  This home sold in 2006 for $335,000!  No joke that is more than a 50% reduction.  We have several deal set up to close by the end of the month.  The banks want to get things off of the book prior to the end of the year and now is the time to make it happen.  Our deal is set to close on the 21st of this month…The iron is hot and it is now the time to strike….call or email me to get going.

I have been working with a savvy cash buyer and we just come across a great deal. It is for a house that sold for $153,000 on March 7th 2007….we can now buy it for $50,000!!!! That is a drop like few I have ever seen.  Now keep in mind this is in a rough section of town, needs a little work and was built in 1959; but to see such movement by the bank is amazing and welcomed.  This will allow a lot of inventory to burn off the market. 

It is a buyers market…even if you do not have cash.  Quite frankly since we are going in so low on a lot of these homes I would say 80% of the time we are getting beaten by a financing deal.  I have a great lender at Resource Mortgage named Eric Papalini that can get you set up to go after these bank owned properties…we just need to get your ducks in a row and make sure the bank has nothing to push you back on.