Home Sales Hottest in Three Market Sectors: Distressed Sales, First-Time Buyers and Vacation Homes

Home Sales Hottest in Three Market Sectors: Distressed Sales, First-Time Buyers and Vacation Homes

ORLANDO, Fla. - Central Florida home sales may still leave a lot to be desired but three market segments are warming up fast, according to Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando.

“About half of all home sales in the Central Florida market today qualify as distressed sales,” said Soderstrom. “These include short sales and foreclosures,” he said.

That’s no secret, Soderstrom said, but two emerging market segments are much more promising.

“First-time home buyers seeking houses priced under $400,000 are mostly younger buyers, under 34, who were priced out of the market from 2004-2007, but are now able to purchase a home due to a 40-50 percent drop in the median sale price,” Soderstrom said.

Today’s up to $8,000 tax credit for first time home buyers is also enhancing current sales activity, he said.

Families seeking vacation homes, pre-retirement and retirement homes are starting to heat up the market, Soderstrom added.

“Many Americans, Canadians and U.K. residents are looking for homes priced from $125,000 to just under $300,000,” Soderstrom said, “and generally they prefer new homes or recently built homes and condominiums.”

“We are seeing substantially more activity in all three of these market sectors, but at the same time we’re seeing some recovery in the upper tier – $1,000,000 to $3,000,000 range – that Stirling Sotheby’s International Realty (http://www.stirlingsir.com/) is most recognized for. There are some amazing values and opportunities in the market right now and I don’t know when it will be a better time to buy a home,” he explained.

“It will be many years before we see a return to 2005 levels but we are seeing many bright spots here and there,” Soderstrom said.

For more information please contact
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-588-1260

Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142

About Stirling Sotheby’s International Realty:

Stirling Sotheby’s International Realty is affiliated with Sotheby’s International Realty, the largest luxury real estate brand in the world. Stirling Sotheby’s exclusive services include luxury residential, new homes, commercial, worldwide auctions, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates five performance centers which serve all of Central Florida.

Melrose Sovereign Companies Awarded Community Management Contract in Bradenton area

Melrose Sovereign Companies Awarded Community Management Contract in Bradenton area
ORLANDO, Fla. - Melrose Sovereign Companies, the Orlando-based property management firm that specializes in residential communities and multi-family properties was recently awarded a contract to manage Gillette Grove on Moccasin Wallow Road West in Palmetto north of Bradenton.
Jack B. Hanson, LCAM, co-founder and partner at Melrose Sovereign Companies, said Maronda Homes is building 141 new homes in the community.
Melrose-Sovereign Companies currently manages properties for more than 150 developers, investors and owners throughout Florida. The firm employs more than 100 property management specialists with offices in Jacksonville, Orlando, Tampa, Palm Harbor, Bradenton/Sarasota, Port Charlotte and Fort Myers.
For more information, contact:
Ellen G. Lumpkin, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, elumpkin@melrose-sovereign.com
Jack B. Hanson, LCAM, Partner/Co-founder, Melrose-Sovereign Companies, 407-228-4181, jhanson@melrose-sovereign.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, Lvershelco@aol.com

Local Entrepreneurs Attend Chamber Workshop to Learn How to Obtain Governmental Contracts

Local Entrepreneurs Attend Chamber Workshop to Learn How to Obtain Governmental Contracts

ORANGE CITY, Fla. – The Chamber of Commerce West Volusia recently was the site of a workshop for business owners interested in obtaining governmental contracts.

The session – titled “Doing Business with Federal and Local Governments” – was sponsored by The Center for Business Excellence, and presented by The Small Business Development Center of Daytona State College. It was held at the chamber’s Business Learning Center in Orange City.

Speakers were Rick Fraser, president of the Center for Business Excellence; Ned Harper, SBDC director at Daytona State College; and Linda White and John Wanamaker, chamber president/CEO, and treasurer/corporate secretary, respectively.

About 20 local business owners attended the workshop, including Mike Chinelli, an Orange City-based contractor.

“The class offered good direction on how to obtain contracts,” Chinelli said. “And, that should be important with the stimulus package creating a lot of government work."

Wanamaker, broker for Coldwell Banker Commercial AI Group in Orange City, has attended similar classes in other counties, but said this session was a first for the West Volusia area.

“There are other cities and counties that sponsor classes like this for local businesses,” he said. “We’re hopeful that this will catch on here and we’ll see more local governmental agencies sponsoring educational classes for our business owners.”

About Coldwell Banker Commercial AI Group:
Owned and operated by commercial real estate veterans John Wanamaker and Chuck Rudis, Coldwell Banker Commercial AIG is a leader in the listing, leasing and selling of properties, as well as a premier developer of community-friendly and LEED-accredited projects for small business owners.

For more information about this release, please contact:

Chuck Rudis, John Wanamaker or Stepan Babanin, Coldwell Banker Commercial AI Group, 386-775-8633, chuck@cbcaigroup.com, john@cbciagroup.com or stepan@cbciagroup.com

Charlene Hager-Van Dyke, Larry Vershel Communications, 386-837-8780, 407-644-4142 or chagervandyke@yahoo.com

Cotter-Ryan Commercial Nears Completion of Three-Story Office Building at Summerhaven in DeBary

Cotter-Ryan Commercial Nears Completion of Three-Story Office Building at Summerhaven in DeBary

LONGWOOD, Fla. - Cotter-Ryan Commercial LLC in Longwood is nearing completion of a 16,000 square foot office building at Summerhaven, located 410 Summerhaven Drive in DeBary.

Scott Ryan, president of Cotter-Ryan Commercial LLC, said the three-story office building is scheduled to open before the end of May.

For more information, contact:

Scott H. Ryan, President, Cotter Ryan Commercial, LLC, 407-786-7686, sryan@cotterryan.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

Randall-Paulson Architects Complete Renovation Services at Jameson Inn and Suites in Peoria, Ill.

Randall-Paulson Architects Complete Renovation Services at Jameson Inn and Suites in Peoria, Ill.

ROSWELL, Ga. – Randall-Paulson Architects, the award winning Roswell-based architectural firm, recently completed exterior renovation and addition design services for the second phase of work at the 111-room Jameson Inn and Suites hotel at 4112 N. Brandywine Drive in Peoria, Ill.

Alex S. Paulson, AIA, co-founder and Principal at Randall-Paulson Architects, said the 58,138 square foot inn and suites hotel boasts dramatic changes to the exterior and a stunning new glass enclosed swimming pool. Now a fresh, contemporary destination the renovated drive-through canopy, roof and wood brackets, entry vestibule and updated color palette establish a new welcome for guest arrivals.

The first phase of renovations included substantial interior improvements to lobby and common rooms, guest rooms and suites, Paulson said.

Headquartered in Roswell, Ga., Randall-Paulson Architects is a 15-year old commercial architectural design firm that specializes in the design of industrial, office, retail, mixed-use, education, religious, childcare, and hospitality facilities.

For more information, contact:
Alex S. Paulson, AIA, Principal, Randall-Paulson Architects, 770-650-7558, apaulson@randallpaulson.com

Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com

NAI Realvest Negotiates Sale of Captain D’s Restaurant Facility in Sebring

NAI Realvest Negotiates Sale of Captain D’s Restaurant Facility in Sebring

ORLANDO, Fla. – NAI Realvest recently negotiated the $915,000 sale of a 2,210 square foot corporate net leased Captain D’s restaurant facility on a 0.65-acre site at 3400 Highway 27 South in Sebring to a California investment trust.

Mez Birdie, CCIM, director of retail and investment services at the firm, brokered the transaction on behalf of Sebring-based Brothers Two Developers and the buyer Haupt Family Trust of East Palo Alto, Calif.

Birdie provides various real estate services including sale-leaseback, leasing, brokerage, and surplus site selection to Sagittarius Brands, the parent company for Captain D’s and Del Taco restaurants.

For more information, contact:

Mez Birdie, CCIM, Director/Retail & Investment Services NAI Realvest 407-875-9989, Mbirdie@realvest.com

Patrick Mahoney, President and COO NAI Realvest, 407-875-9989, pmahoney@realvest.com

Beth Payan or Larry Vershel, Larry Vershel Communications, 407-644-4142

About NAI Realvest:

NAI Realvest, covering all of Central Florida, is a fully integrated commercial real estate operating company specializing in brokerage, development, investment, leasing and management, consulting and research services in the U.S. and worldwide through NAI Global, an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built their businesses on the power of NAI Global’s expanding network. Extensive services include multi-site acquisitions and dispositions, sublease, tenant representation, lease administration and audit, investment services, due diligence and related consulting and advisory services. To learn more, visit http://www.nairealvest.com/.