Nearly Half of Central Florida Home Buyers Pay Cash as Lower Priced Condominiums and Homes Impact Housing Market
ORLANDO, Fla. - Almost half---42.3 percent---of all home buyers in Central Florida during the first five months of this year paid cash, according to recent figures from the Orlando Regional Realtor Association (ORRA).
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty www.StirlingSIR.com in Orlando, said while ORRA’s information includes condominiums and single-family homes that buyers have been snapping up for as low as $70,000, his firm has been closing cash sales in most price ranges this year.
“I think the historically large volume of cash sales is due not only to a large inventory of lower-priced condominiums – many left over from the deluge of condominium projects and conversions between 2005 and 2007 – but also homebuilder inventories and resale properties priced under $350,000, Soderstrom said.
Soderstrom said new conventional loans totaled just over 27 percent of all home sales during the period. FHA loans totaled 23.62 percent of all homes sold.
“FHA financing is becoming very popular today because of the low 3.5 percent down payment required, and the maximum loan amount has been raised to $417,000, which would apply to most homes sold in Central Florida,” Soderstrom said.
Soderstrom said he was surprised by the relatively low number of homes – 1.78 percent of the total – sold with Veterans Administration financing.
“Many individuals in Florida qualify for VA loans, which require no down payment on a mortgage of up to $417,000,” Soderstrom said.
“We are currently encouraging our buyers to utilize the VA loan program if they are eligible,” he added.
During the first five months of the year ORRA reported 7,834 home sales closed.
For more information please contact:
Roger Soderstrom, Owner/Founder, Stirling Sotheby’s International Realty 407.588.1260; http://www.StirlingSIR.com;
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.
Thursday, July 9, 2009
Avalon Park Group Aims at Developing Model Town Center Facility for Adult Independent, Assisted Living
Avalon Park Group Aims at Developing Model Town Center Facility for Adult Independent, Assisted Living
ORLANDO, Fla. - Avalon Park Group has set its sights on developing a model facility in its town center for adult independent and assisted living, with construction expected to start early next year.
Ross Halle, town planner and architect at Avalon Park, said the four-story building may expand to five stories.
The first phase will include 140,000 square feet of space with 130 living units at a cost of approximately $21 million.
Ultimately, the facility will include 265,000 square feet of space at an estimated cost of $35 million, Halle said.
Avalon Park Group has commissioned a design and development team that includes lenders, architects, a construction company and an experienced management firm.
Avalon Park Group selected Winter Park Construction Company to provide pre-design consulting services, Halle said.
Cuhaci & Peterson Architects, LLC of Orlando has been named the project’s architect, and SanMar Management Associates of New York City will provide operations and management services.
Lancaster Pollard of Alpharetta, Ga., will provide lending services for the project.
Halle said the center will provide facilities for independent living and assisted living residents and specialized facilities for the care of alzheimer patients.
“We believe that Avalon Park will provide the foundation for a future that allows seniors to stay connected, healthy, stimulated and active in a larger familiar, safe and secure place with direct access to the civic, commercial, and residential activities occurring daily,” Halle said.
For more information, contact:
Ross Halle, Architect/Town Planner, Avalon Park Group 407-658-6565;
Stephanie Hodson, Marketing Coordinator, Avalon Park Group 407-658-6565
Beat Kahli, Owner/Founder, Avalon Park Group, 407-648-6565;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
ORLANDO, Fla. - Avalon Park Group has set its sights on developing a model facility in its town center for adult independent and assisted living, with construction expected to start early next year.
Ross Halle, town planner and architect at Avalon Park, said the four-story building may expand to five stories.
The first phase will include 140,000 square feet of space with 130 living units at a cost of approximately $21 million.
Ultimately, the facility will include 265,000 square feet of space at an estimated cost of $35 million, Halle said.
Avalon Park Group has commissioned a design and development team that includes lenders, architects, a construction company and an experienced management firm.
Avalon Park Group selected Winter Park Construction Company to provide pre-design consulting services, Halle said.
Cuhaci & Peterson Architects, LLC of Orlando has been named the project’s architect, and SanMar Management Associates of New York City will provide operations and management services.
Lancaster Pollard of Alpharetta, Ga., will provide lending services for the project.
Halle said the center will provide facilities for independent living and assisted living residents and specialized facilities for the care of alzheimer patients.
“We believe that Avalon Park will provide the foundation for a future that allows seniors to stay connected, healthy, stimulated and active in a larger familiar, safe and secure place with direct access to the civic, commercial, and residential activities occurring daily,” Halle said.
For more information, contact:
Ross Halle, Architect/Town Planner, Avalon Park Group 407-658-6565;
Stephanie Hodson, Marketing Coordinator, Avalon Park Group 407-658-6565
Beat Kahli, Owner/Founder, Avalon Park Group, 407-648-6565;
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn
Expansion of SBA’s latest initiative could have dramatic impact on Small Businesses, National Economy, says Chris Hurn
ALTAMONTE SPRINGS, Fla. - The U.S. Small Business Administration’s helpful decision recently to extend its SBA-504 lending program ---which helps small business owners who want to acquire or develop their own facilities---doesn’t go far enough, says Chris Hurn, chief executive officer of Mercantile Capital Corporation in Altamonte Springs.
Hurn’s analysis, which he published at www.504Experts.com, is getting some major media traction, including a lengthy interview in the New York Times.
The most recent SBA initiative---announced last February and put into effect recently---extends the SBA’s 504 lending program to include refinancing.
Hurn gives the SBA credit for extending the 504 loan program. But the SBA initiative requires businesses to use new funds for expansion purposes only.
“That’s the kink,” Hurn said. “How many small businesses are in an expansion mode in this economy?” he asked.
Billions of dollars worth of potential small business loans go unfunded every year, Hurn said.
“That money needs to be in the marketplace to have any positive effect on small business growth. The $255 million,” Hurn said.
The numbers back Hurn’s proposition: SBA 504 loans are down 41.5 percent this fiscal year and the total dollar amount funded has dropped 42.5 percent from last year.
“The SBA is moving in the right direction, but the positive impact on small business growth in the U.S. would be explosive if SBA would lift its restriction to small business expansion and open the door to true refinancing,” Hurn added.
For more information, contact:
Chris Hurn, Chief Executive Officer Mercantile Capital Corporation, 407-786-5040
Shannon Marks, President, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142
ALTAMONTE SPRINGS, Fla. - The U.S. Small Business Administration’s helpful decision recently to extend its SBA-504 lending program ---which helps small business owners who want to acquire or develop their own facilities---doesn’t go far enough, says Chris Hurn, chief executive officer of Mercantile Capital Corporation in Altamonte Springs.
Hurn’s analysis, which he published at www.504Experts.com, is getting some major media traction, including a lengthy interview in the New York Times.
The most recent SBA initiative---announced last February and put into effect recently---extends the SBA’s 504 lending program to include refinancing.
Hurn gives the SBA credit for extending the 504 loan program. But the SBA initiative requires businesses to use new funds for expansion purposes only.
“That’s the kink,” Hurn said. “How many small businesses are in an expansion mode in this economy?” he asked.
Billions of dollars worth of potential small business loans go unfunded every year, Hurn said.
“That money needs to be in the marketplace to have any positive effect on small business growth. The $255 million,” Hurn said.
The numbers back Hurn’s proposition: SBA 504 loans are down 41.5 percent this fiscal year and the total dollar amount funded has dropped 42.5 percent from last year.
“The SBA is moving in the right direction, but the positive impact on small business growth in the U.S. would be explosive if SBA would lift its restriction to small business expansion and open the door to true refinancing,” Hurn added.
For more information, contact:
Chris Hurn, Chief Executive Officer Mercantile Capital Corporation, 407-786-5040
Shannon Marks, President, Mercantile Capital Corporation, 407-786-5040
Larry Vershel, Larry Vershel Communications 407-644-4142
Stirling Sotheby’s International Realty Named Exclusive Broker to sell $8.5 Million Oceanfront Estate in Ormond Beach
Stirling Sotheby’s International Realty Named Exclusive Broker to sell $8.5 Million Oceanfront Estate in Ormond Beach
ORLANDO, Fla. - Stirling Sotheby’s International Realty was recently named exclusive sales and marketing representatives to sell a prestigious $8.5 million oceanfront estate home across from the Oceanside Golf Course in Ormond Beach.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty (www.StirlingSIR.com), said the magnificent Georgian estate home offers more than 12,000 square feet of living space with a six-car garage that features temperature and humidity controls.
The home includes a maid’s quarters with a guest apartment, two magnificent staircases and a luxury lift elevator. An open bridge links the two wings of the house with spectacular views of the golf course and the ocean.
“The oceanfront setting is pristine and untouched,” said Soderstrom.
“The home evidences exceptional workmanship throughout. This is one of the most beautiful properties we have ever represented,” he said.
Soderstrom said Stirling Sotheby’s International Realty has designed a marketing plan that includes contact with more than 3,000 international investors and buyers.
“This is a world class estate home and the sellers chose Stirling Sotheby’s International Realty because of our worldwide contacts,” Soderstrom said.
Visit http://www.tourfactory.com/488235 for a virtual tour.
For more information, 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.
ORLANDO, Fla. - Stirling Sotheby’s International Realty was recently named exclusive sales and marketing representatives to sell a prestigious $8.5 million oceanfront estate home across from the Oceanside Golf Course in Ormond Beach.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty (www.StirlingSIR.com), said the magnificent Georgian estate home offers more than 12,000 square feet of living space with a six-car garage that features temperature and humidity controls.
The home includes a maid’s quarters with a guest apartment, two magnificent staircases and a luxury lift elevator. An open bridge links the two wings of the house with spectacular views of the golf course and the ocean.
“The oceanfront setting is pristine and untouched,” said Soderstrom.
“The home evidences exceptional workmanship throughout. This is one of the most beautiful properties we have ever represented,” he said.
Soderstrom said Stirling Sotheby’s International Realty has designed a marketing plan that includes contact with more than 3,000 international investors and buyers.
“This is a world class estate home and the sellers chose Stirling Sotheby’s International Realty because of our worldwide contacts,” Soderstrom said.
Visit http://www.tourfactory.com/488235 for a virtual tour.
For more information, 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.
Carolyn Wilson recognized as an Accredited Home-Staging Specialist and is awarded the AHS Designation
Carolyn Wilson recognized as an Accredited Home-Staging Specialist and is awarded the AHS Designation
Lake Mary, FL - Carolyn Wilson, a sales executive with Stirling Sotheby’s International Realty and member of Orlando Regional Realtor® Association, was recently awarded the Accredited Home-Staging Specialist (AHS) designation.
Wilson joins a select and growing group of real estate agents who have recognized the importance of providing this value-added service to their clients. In today’s increasingly competitive real estate market, these trained agents set themselves apart by helping homeowners market and showcase their homes for maximum impact to potential buyers.
Wilson earned the AHS designation by completing the prescribed coursework and completing an end-of-course competency-based test. The Accredited Home-Staging Course is designed to provide agents with the tools and knowledge they need to effectively stage a home for a faster sale and higher sales price. In fact, research has shown that properly staged homes sell for 5% more on average than non-staged homes and sell approximately 2-3 weeks faster.
Armed with the AHS designation and an increased awareness of the principles of staging, real estate professionals such as Carolyn Wilson are immediately able to better serve their current and prospective home sellers. This knowledge sets the individuals who have attained the AHS apart from their peers, because it gives them the tools to be able to assess a homeowner’s property and then stage that property to maximize appeal and speed the sales process, often with little or no expenditures or financial investment of their own.
For general information visit http://www.stagingspecialist.com/, and for specific help on how the benefits of staging might help sell your home, contact Carolyn Wilson, your local Accredited Home-Staging Specialist at 407-452-4521.
About Carolyn Wilson:
Carolyn Wilson, CSP AHS, is a Sales Executive and Certified Short Sale Professional with Stirling Sotheby’s International Realty. Carolyn’s considerable expertise in residential real estate and her extensive skills and experience in product and project management combined with the powerful marketing ability of Stirling Sotheby’s International Realty and the world-wide reach and global expertise of Sotheby’s offers the most powerful real estate marketing available.
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.
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
NAI Realvest negotiates new industrial lease at Parkway Business Center in Longwood
NAI Realvest negotiates new industrial lease at Parkway Business Center in Longwood
MAITLAND, Fla. - NAI Realvest recently completed a new lease agreement for 4,369 square feet of industrial space at 556 Florida Central Parkway in Longwood.
Robert Blackwell, SIOR principal at the firm, associates Sean DuPree, CCIM and Jim Murr negotiated the transaction representing the landlord, Parkway Business Center LLC of Longwood.
The new tenant, Longwood-based Rockit Management LLC & Street Unit Performance Inc. leased unit 1008 in the industrial park.
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. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built 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 www.NAIRealvest.com.
For more information, contact:
Robert Blackwell, SIOR or Sean Dupree, CCIM or Jim Murr at NAI Realvest 407-875-9989; rblackwell@realvest.com, sdupree@realvest.com or jmurr@realvest.com;
Patrick Mahoney, Chief Operating Officer, NAI Realvest 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
MAITLAND, Fla. - NAI Realvest recently completed a new lease agreement for 4,369 square feet of industrial space at 556 Florida Central Parkway in Longwood.
Robert Blackwell, SIOR principal at the firm, associates Sean DuPree, CCIM and Jim Murr negotiated the transaction representing the landlord, Parkway Business Center LLC of Longwood.
The new tenant, Longwood-based Rockit Management LLC & Street Unit Performance Inc. leased unit 1008 in the industrial park.
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. NAI Global is an international commercial real estate network with over 325 offices spanning the globe. Since 1978, clients have built 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 www.NAIRealvest.com.
For more information, contact:
Robert Blackwell, SIOR or Sean Dupree, CCIM or Jim Murr at NAI Realvest 407-875-9989; rblackwell@realvest.com, sdupree@realvest.com or jmurr@realvest.com;
Patrick Mahoney, Chief Operating Officer, NAI Realvest 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
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