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Dr Phillips Real Estate Prime for Early Birds

When it comes to investments I typically go back to the Guru of investments Warren Buffet and his philosophy "Buy fear Sell greed&quo...

Thursday, October 13, 2011

Orlando real estate hits a Milestone

It took almost 6 years to the day but Central Florida's inventory of available homes for sale fell below 10,000 listings. This number reflects homes for sale located in Orange, Seminole, Osceola, and Lake counties.

October 2007 was an all time high of 26,330 properties listed. The real estate market is still about supply and demand, available homes for sale compared to ready willing and able buyers. Basic economics is gradual decrease in price until value returns and that's exactly what's been happening.

With less bank owned properties available, Dr Phillips real estate has a reported 5 single family homes and 33 short sales listings on the market and the fact banks are loosening their strings on lending, this great news going forward into the 2012 real estate market.

Search Distressed Dr Phillips Real Estate For Sale:

Wednesday, August 31, 2011

Guard Gated Vizcaya is Prime Dr Phillips real estate

Vizcaya is a gated community located in sought after Dr. Phillips Orlando and situated on prime real estate. Just off the beaten path of popular Restaurant Row and the wide variety of eateries, shopping and entertainment, Vizcaya has a home for very type of buyer.

Luxury High rise Condominiums with Lake views, Roomy Town homes and Waterfront or interior Mediterranean Estate homes.  This quaint community also benefits from Award Winning Dr Phillips schools that offer Magnet and Performing Art programs.

JUST LISTED 7923 Versilia Drivve, Executive Pool home listed at $545,000.  Four bedrooms, Office and three full baths with over 3,100 square feet open floor plan.  Tile Roof, Brick Paver Drive, Granite Counter tops and 16 inch Ceramic Tile and Hardwood Flooring.  Great location, peaceful Cul-de-sac street. 

Search Vizcaya Homes For Sale:

Tuesday, August 16, 2011

3 Dr. Phillips Communities showing Value

Dr Phillips real estate has its share of sought after communities in Central Florida but you may be surprised which ones are giving buyers the biggest bang for their buck.

Number 3...

Bay Hill

Known for having one of the most popular PGA golf course, there is something about Bay Hill that makes a golfer, or in today's real estate market buyer's,  heart beat a little faster.  The breath taking views of 270 acres of a meticulously manicured golf course along the Butler Chain of Lakes sure doesn't hurt but for buyers it's the great values that are slipping away and an urgency to get one of them. 

After four plus years of declining prices Bay Hill real estate has hit bottom and is showing real value.

Number 2...

Sand Lake Point and Sand Lake Cove 

The Sand Lake communities off Apopka-Vineland and Darlene have that great location buyers are looking for.  Dr Phillips' new park is within walking distance from a paved bike and jogging trail, the two established Sand Lake communities also have lake access to private Sand Lake.  Most homes are attractively priced in the upper 200's but go quickly and into the 400k with many floor plans to choose from.   

Number 1...

Phillips Landing

Gated Phillips Landing has always been tops on buyers wish lists and with 4 plus years of declining prices these homes are being picked up quickly when priced at today's values.  The front communities of Phillips Landing, Bay Harbour and Heritage Bay feature winding tree covered roads, ponds and mature landscaping.  Most homes offer 2600 to over 3000 square feet of living space, tile roofs and pools. 

The Estates section of Phillips Landing is lakefront to Big Sand Lake and some of Central Florida's best custom builders. 

Monday, July 25, 2011

Summer is heating up Winter Garden real estate

We all know how hot the weather can get this time of year but along with the hot Summer Sun something else is heating up as well.  It's no secret there are local real estate markets bouncing back.  Dr Phillips real estate, Windermere, Winter Park and Lake Mary have already stepped over from declining markets to stabilizing ones, and until just recently Winter Garden real estate

In 2007 Winter Garden had 447 single family homes that closed, compare this to 395 homes sold so far this year keeping in mind we have over 5 months remaining.  Communities like Stoneybrook West used to have up to 90 active homes at one time for sale, today there are 19, six "short sales", 12 regular sellers and only one bank owned property.  Stoneybrook West is not the only area seeing dramatic drops in available homes, communitiles like Black Lake Park and John's Landing are seeing the same kind of results.

Add the new construction in Winter Garden which until just recently was non exsistant and that alone should point to decline of available homes compared to buyers that want to purchase, believe me builders aren't building unless they know there buyers and money to be made.

Sunday, July 10, 2011

Stoneybrook West Real Estate making a Strong come back

Stoneybrook West Real Estate is making a strong come back. It wasn't that long ago that Stoneybrook West had over 10% of their homes for sale. Today there are only 16, two bank owned, four short sales and 10 regular sellers. StoneybrooK West real estate Winter Garden, Florida.

Over the past 8 months Central Florida's sought after communities like Dr Phillips real estate, Windermere, Winter Park and Lake Mary have seen the bottom and home values stabilizing.  After 5 years of declining prices we knew it had to happen sooner then later.  Now we are seeing outer communities like Winter Garden and specifically Stoneybrook West real estate making its come back. 

Take a look at the latest homes for sale in Stoneybrook West:

Wednesday, March 23, 2011

4 Simple myths stopping you find a Bargin Dr Phillips Home

I was working with some buyers this past month looking to purchase a home in Dr Phillips, Florida. They were serious cash buyers making offers within the first couple of days but to their surprise we could not get any of the sellers to accept. They were starting to get frustrated so we sat down and talked about the real estate myths they had been declaring early and often the past month.

1.  I have cash.  Cash is great and makes any offer look attractive but what is the dollar value for a buyer paying cash? When sellers close they get cash, whether it's a buyer with financing or not. What a cash buyer is doing is waving a financing contingency, so what is the value? For a buyer making an offer on a home priced between $200,000 to $300,000 that buyer could expect to save any where from $3000 to $7000 on the home's purchase price, a home priced $400,000 to $600,000 any where from $7,000 to $15,000.  Trying to get a seller to take a bigger hit for your cash offer they might as well go with a buyer financing or lower the list price to see what the market will bear.

2.  Banks don't want own homes. Banks have a great strategy selling their inventory, finding market value and staying firm on price. Banks get 2 to 3 BPOs (Broker Price Opinions) and list right at that BPO or a little under. Banks love to sit 30 to 40 days to see what kind of activity they get and if nothing, do a gradual 5 to 10% price reduction and let the market come to them. What you don't see are banks accepting low ball offers just to dump homes. Banks don't want to own properties but they are smart selling them.

3.  The Dr Phillips community is still a declining market. If this were true then show me those low 300k homes in gated Phillips Landing or the single family properties in Vizcaya in the 200's. What happened?  Sellers in these sought after communities like Dr Phillips don't have to list that low because buyers are seeing value. It's no secret people love Dr Phillips real estate, great location, award winning schools and that community feel many buyers look for. Make no mistake home prices have fallen the past 4 years like pretty much every other community but it has bottomed out.  Basic economics is gradual decreases in price until value returns, that's four years of declining prices and today, some great homes attractively priced.

4.  I don't want to look at short sales they take to long.  Sure if you need to purchase asap the bank owned and regular sales may be the way to go but for buyers that are looking for bargain homes the short sale are getting done.  The early years of the declining market the short sales were a bear to close but over the past two years banks and real estate agents have learned how to streamline the process. What a buyers has to watch out for are the short sales that are priced unrealistically low.  Some agents still think the best strategy is to list low and get that first offer to start the short sale process with the bank.  Most times the end result is the bank comes back with a much higher offer and the buyer walks but the agent and seller now have the purchase price the bank would accept.  The only thing is the first buyer had to pay the price of waiting around 2 to 3 months.