ORLANDO, Fla. --- Two International Luxury Homes Specialists at Stirling Sotheby’s International Realty in Orlando closed on sales of seven luxury homes in July that totaled nearly $6 million.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Sally Andy and David Warren currently have seven pending sales that will total more than $5 million.
Soderstrom said the pair project luxury home sales for the third quarter that will total more than $11 million, with an average sale price of $785,000.
“We are seeing healthy growth in luxury home sales, which typically lead the market, and that’s a very optimistic sign overall for Central Florida,” Soderstrom said.
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, new home communities, commercial and investment properties, in addition to supporting builders, developers, lenders, and asset managers. The company operates two performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Tuesday, August 16, 2011
Mercantile Capital Corporation closes $11.2 million commercial loan, largest in company history
ALTAMONTE SPRINGS, Fla. --- Mercantile Capital Corporation, in Altamonte Springs, recently closed the largest single commercial loan in the company’s eight year history to finance improvements valued at more than $11.2 million at the Sanford Auto Dealers Exchange, located on Martin Luther King Blvd. in Sanford.
Geof Longstaff, chairman at Mercantile Capital Corporation, said their U.S. Small Business Administration (SBA) 504 loan financed 85 percent of the construction costs to improve the Sanford Auto Dealers Exchange’s auto storage facilities at below-market, long-term fixed interest rates.
Altogether, Mercantile Capital Corporation (a wholly owned subsidiary of Old Florida National Bank) closed on five SBA 504 loans in July to finance projects valued at $20.2 million in Florida, Texas and California. Chris Hurn, Mercantile Capital Corporation’s chief executive officer, added that these five loans account for 136 jobs created or retained.
Mercantile Capital Corporation ranks as one of the largest providers of SBA 504 commercial property loans in the U.S. The SBA 504 loan program finances small business owners who want to acquire, develop or improve their own facilities.
More information can be found at www.504experts.com and www.504blog.com.
Geof Longstaff, chairman at Mercantile Capital Corporation, said their U.S. Small Business Administration (SBA) 504 loan financed 85 percent of the construction costs to improve the Sanford Auto Dealers Exchange’s auto storage facilities at below-market, long-term fixed interest rates.
Altogether, Mercantile Capital Corporation (a wholly owned subsidiary of Old Florida National Bank) closed on five SBA 504 loans in July to finance projects valued at $20.2 million in Florida, Texas and California. Chris Hurn, Mercantile Capital Corporation’s chief executive officer, added that these five loans account for 136 jobs created or retained.
Mercantile Capital Corporation ranks as one of the largest providers of SBA 504 commercial property loans in the U.S. The SBA 504 loan program finances small business owners who want to acquire, develop or improve their own facilities.
More information can be found at www.504experts.com and www.504blog.com.
Foreign buyers help housing market (from floridarealtors.org)
MIAMI, Fla -– Foreign buyers are helping to stoke home sales in U.S. vacation hot spots decimated by the real estate crash, especially in southern Florida.
"For the 12 months ending in March, some 31 percent of Florida’s home sales were to foreign buyers, up from 10 percent in 2007," according to a survey by the National Association of Realtors.
In Arizona, six percent of sales in the same period were to foreigners. That was down from 11 percent last year but still up from five percent in 2007, the data shows.
"Foreign buyers are being enticed not only by low U.S. home prices -- down 30 percent nationwide since peaking in 2006 -- but also the weakened dollar, which makes their money go further. Since the start of 2006, the Canadian dollar has soared 18 percent against the U.S. dollar, while the Euro has gained 22 percent," says data tracker Oanda.
"U.S. home prices, meanwhile, have fallen far more than the national average in some places, down 55 percent from their peaks in Miami-Fort Lauderdale and Phoenix, and 36 percent in Los Angeles," says Zillow.com. "Those are three of the most popular areas for foreigners searching for real estate on Trulia’s website," that company says.
"Sales are so brisk in the Miami region now that more houses and condominiums could sell this year than in 2005, the peak year," says Ronald Shuffield, president of Esslinger-Wooten-Maxwell Realtors in Coral Gables.
“International buyers have been the fuel for the Miami recovery,” Shuffield says."About 40 percent of buyers are international versus less than 35 percent before the bust," he estimates. "Many buyers are South American investors snapping up condominiums to rent out," says Peter Zalewski of market researcher Condo Vultures.
In the Phoenix region there are at least 20 percent more foreigners in the market now than usual, according to Don Hammer, manager of Realty Executives in Paradise Valley, Ariz.
One of those shoppers is retired hedge fund manager Peter Duerr of Austria. He’s planning to buy a home in Scottsdale, having sold one there in 2005. "The U.S. is a great buy right now,” Duerr says.
The largest share of foreign buyers, 23 percent, comes from Canada, the Realtors’ survey found. China followed at nine percent. The survey includes foreigners living abroad, those in the U.S. with long-term visas and new immigrants.
© Copyright 2011 USA TODAY, a division of Gannett Co. Inc., Julie Schmit.
"For the 12 months ending in March, some 31 percent of Florida’s home sales were to foreign buyers, up from 10 percent in 2007," according to a survey by the National Association of Realtors.
In Arizona, six percent of sales in the same period were to foreigners. That was down from 11 percent last year but still up from five percent in 2007, the data shows.
"Foreign buyers are being enticed not only by low U.S. home prices -- down 30 percent nationwide since peaking in 2006 -- but also the weakened dollar, which makes their money go further. Since the start of 2006, the Canadian dollar has soared 18 percent against the U.S. dollar, while the Euro has gained 22 percent," says data tracker Oanda.
"U.S. home prices, meanwhile, have fallen far more than the national average in some places, down 55 percent from their peaks in Miami-Fort Lauderdale and Phoenix, and 36 percent in Los Angeles," says Zillow.com. "Those are three of the most popular areas for foreigners searching for real estate on Trulia’s website," that company says.
"Sales are so brisk in the Miami region now that more houses and condominiums could sell this year than in 2005, the peak year," says Ronald Shuffield, president of Esslinger-Wooten-Maxwell Realtors in Coral Gables.
“International buyers have been the fuel for the Miami recovery,” Shuffield says."About 40 percent of buyers are international versus less than 35 percent before the bust," he estimates. "Many buyers are South American investors snapping up condominiums to rent out," says Peter Zalewski of market researcher Condo Vultures.
In the Phoenix region there are at least 20 percent more foreigners in the market now than usual, according to Don Hammer, manager of Realty Executives in Paradise Valley, Ariz.
One of those shoppers is retired hedge fund manager Peter Duerr of Austria. He’s planning to buy a home in Scottsdale, having sold one there in 2005. "The U.S. is a great buy right now,” Duerr says.
The largest share of foreign buyers, 23 percent, comes from Canada, the Realtors’ survey found. China followed at nine percent. The survey includes foreigners living abroad, those in the U.S. with long-term visas and new immigrants.
© Copyright 2011 USA TODAY, a division of Gannett Co. Inc., Julie Schmit.
Celebration Golf Club to host Grand Opening of the Golf Academy Ping n Flight Fitting and Teaching Center Sept. 30
ORLANDO, Fla. --- Celebration Golf Management, Inc. will host a grand opening of the Golf Academy Ping n Flight fitting and teaching center at Celebration Golf Club Sept. 30.
Kenny Nairn, executive vice president of golf at Celebration Golf Club, said PGA Tour Player Bubba Watson will hold an exhibition and clinic during the grand opening event.
In partnership with Ping, the industry leader in custom fitted golf clubs, The Golf Academy’s Ping n Flight fitting and teaching center is a 2,500 square foot state-of-the-art facility with four full-time instructors, Nairn said.
Kenny Nairn, executive vice president of golf at Celebration Golf Club, said PGA Tour Player Bubba Watson will hold an exhibition and clinic during the grand opening event.
In partnership with Ping, the industry leader in custom fitted golf clubs, The Golf Academy’s Ping n Flight fitting and teaching center is a 2,500 square foot state-of-the-art facility with four full-time instructors, Nairn said.
Cotter Ryan Commercial, White-Challis Development Form Joint Venture to Focus on Urban Development Projects
LONGWOOD, Fla. --- Cotter Ryan Commercial LLC of Longwood has formed a private-public joint venture partnership with White-Challis Development to focus on urban development projects.
Scott Ryan, founder and president of Cotter-Ryan Commercial, said the joint venture will focus on mixed use and retail projects in Volusia, Seminole, Marion and Brevard Counties.
Scott Ryan, founder and president of Cotter-Ryan Commercial, said the joint venture will focus on mixed use and retail projects in Volusia, Seminole, Marion and Brevard Counties.
NAI Realvest negotiates 10-Year Lease Agreement for TGI Friday’s at prime Port Orange Shopping Center Location
MAITLAND, Fla. – NAI Realvest recently negotiated a 10-year lease agreement for 8,500 square feet in Dunlawton Square Shopping Center at the corner of Dunlawton Blvd. and S. Nova Road in Port Orange.
Mez Birdie, CCIM, director of retail services at NAI Realvest, negotiated the transaction on behalf of the tenant, a franchisee of TGI Friday’s. The space is an end cap of a former K-Mart.
Birdie said the restaurant opening is scheduled for this fall.
The local landlord is Dunlawton Nova Investors, LLC represented by John Trost of Prudential Commercial.
About NAI Realvest:
NAI Realvest, serving 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 350 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 www.NAIrealvest.com.
Mez Birdie, CCIM, director of retail services at NAI Realvest, negotiated the transaction on behalf of the tenant, a franchisee of TGI Friday’s. The space is an end cap of a former K-Mart.
Birdie said the restaurant opening is scheduled for this fall.
The local landlord is Dunlawton Nova Investors, LLC represented by John Trost of Prudential Commercial.
About NAI Realvest:
NAI Realvest, serving 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 350 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 www.NAIrealvest.com.
Home Sales at Celebration up 10 percent so far this year, says Stirling Sotheby’s Sales Pro
ORLANDO, Fla. --- A study of housing sales at Celebration by Stirling Sotheby’s International Realty Trusted Real Estate Advisor Chris Wilson shows sales of luxury homes during the first half of the year are up about 10 percent over the same period last year and the rest of the year looks even better; pending sales have almost doubled. (http://www.stirlingsir.com/eflyers/pr/08112011/cmt.pdf )
Wilson said 86 homes sold at Celebration from Jan 1 through June 30, including 24 homes that sold for more than $500,000.
Last year, Wilson said, Celebration housing sales totaled 78 homes, including 27 priced at more than $500,000.
One trend his study spotlighted is indicative of housing sales throughout the Central Florida region; while lower-priced homes took a dip in value, higher priced homes sold at a higher average than last year.
“The average sale price of all homes sold for less than $500,000 was down about $2,000 from the 2010 average,” Wilson said. “The average sale price of higher-end homes rose from $627,000 in 2010 to $699,000 this year.”
The study also shows fewer homes on the market.
“During the first half of 2010, sellers listed 147 homes for sale at Celebration,” Wilson said. “For the first six months of 2011, new listings at Celebration totaled 107.” Visit http://www.stirlingsir.com/eflyers/pr/08112011/cmt.pdf to view the report.
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, new home communities, commercial and investment properties, in addition to supporting builders, developers, lenders, and asset managers. The company operates two performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Wilson said 86 homes sold at Celebration from Jan 1 through June 30, including 24 homes that sold for more than $500,000.
Last year, Wilson said, Celebration housing sales totaled 78 homes, including 27 priced at more than $500,000.
One trend his study spotlighted is indicative of housing sales throughout the Central Florida region; while lower-priced homes took a dip in value, higher priced homes sold at a higher average than last year.
“The average sale price of all homes sold for less than $500,000 was down about $2,000 from the 2010 average,” Wilson said. “The average sale price of higher-end homes rose from $627,000 in 2010 to $699,000 this year.”
The study also shows fewer homes on the market.
“During the first half of 2010, sellers listed 147 homes for sale at Celebration,” Wilson said. “For the first six months of 2011, new listings at Celebration totaled 107.” Visit http://www.stirlingsir.com/eflyers/pr/08112011/cmt.pdf to view the report.
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, new home communities, commercial and investment properties, in addition to supporting builders, developers, lenders, and asset managers. The company operates two performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Cuhaci & Peterson Architects awarded contract to renovate 20,000 square foot Rainbow Shoppes in Tampa
ORLANDO, Fla. --- Cuhaci & Peterson Architects LLC, based in Orlando’s Baldwin Park, was recently awarded a contract to design renovations at Rainbow Shoppes, a 20,000 square foot retail center on Dale Mabry Blvd. in Tampa.
Lonnie Peterson, chairman of the architectural firm, said Bayway Property Management awarded the contract.
Lonnie Peterson, chairman of the architectural firm, said Bayway Property Management awarded the contract.
Del Webb Community Fundraisers Helped Raise More 13,000 to Benefit Susan G. Komen Foundation
Fla. --- Del Webb Communities, hosted “Cook for the Cure” fundraisers recently and helped raise more than $13,840 for the Susan G. Komen for the Cure cancer foundation.
Sean Strickler, vice president of sales of Del Webb, said Del Webb hosted “Cook for the Cure” simultaneously in five Del Webb Florida communities, including Del Webb Stone Creek in Ocala, Sweetwater by Del Webb in Jacksonville, Riverwood at Nocatee by Del Webb in Ponte Vedra, Del Webb Orlando in Davenport, and Del Webb Southshore Falls in Apollo Beach near Tampa.
Residents contributed donations and bid on silent auction items, Strickler reported.
1,000 Cooks for the Cure is part of Cook for the Cure®, a decade-long partnership between Komen and KitchenAid, which has raised more than $8 million for the cause through the sale of pink cooking products, celebrity chef auctions and grass-roots initiatives. Now, Del Webb is lending its community amenities centers and enlisting enthusiastic residents for the cause. While Cook for the Cure offers ways to support the cause year-round, the goal of this initiative is to enlist 1,000 cooks to host gatherings during these specific dates.
About KitchenAid
Since the introduction of its legendary stand mixer in 1919 and first dishwasher in 1949, KitchenAid has built on the legacy of these icons to create a complete line of products designed for cooks. Today, the KitchenAid brand offers virtually every essential for the well-equipped kitchen with a collection that includes everything from countertop appliances to cookware, ranges to refrigerators, and whisks to wine cellars. This year marks the brand's 10th anniversary of Cook for the Cure®, a partnership with Susan G. Komen for the Cure® that has raised over $8
million to help find a cure for breast cancer. To learn why chefs choose KitchenAid for their homes more than any other brand*, visit www.KitchenAid.com or join us at http://facebook.com/KitchenAid and http://twitter.com/KitchenAidUSA.
About Del Webb
Award-winning Del Webb active adult communities provide an optimum lifestyle at an affordable price for those ages 55 and older, creating an unmatched experience for “retirement.” Del Webb communities began with the original Sun City, which opened outside Phoenix, in 1960 and have grown to include more than 50 communities currently open for new home sales in 21 states. Del Webb is the best-known brand of active adult communities in America and draws on more than 50 years experience of providing residents an engaging life that fulfills their creative, physical, mental and social needs. For more information on Del Webb, see www.delwebb.com.
About Susan G. Komen for the Cure®
Nancy G. Brinker promised her dying sister, Susan G. Komen, she would do everything in her power to end breast cancer forever. In 1982 that promise became Susan G. Komen for the Cure and launched the global breast cancer movement. Today, Komen for the Cure is the world’s largest grassroots network of breast cancer survivors and activists fighting to save lives, empower people, ensure quality care for all and energize science to find the cures. Thanks to events like the Komen Race for the Cure® and Komen 3-Day for the Cure®, we have invested more than $1.9 billion to fulfill our promise, becoming the largest source of nonprofit funds dedicated to the fight against breast cancer in the world. For more information about Susan G. Komen for the Cure, breast health or breast cancer, visit komen.org or call 1-877 GO KOMEN.
* Based on a 2010 survey, KitchenAid was found to be the home kitchen appliance brand chosen most often by members of the International Association of Culinary Professionals.
Sean Strickler, vice president of sales of Del Webb, said Del Webb hosted “Cook for the Cure” simultaneously in five Del Webb Florida communities, including Del Webb Stone Creek in Ocala, Sweetwater by Del Webb in Jacksonville, Riverwood at Nocatee by Del Webb in Ponte Vedra, Del Webb Orlando in Davenport, and Del Webb Southshore Falls in Apollo Beach near Tampa.
Residents contributed donations and bid on silent auction items, Strickler reported.
1,000 Cooks for the Cure is part of Cook for the Cure®, a decade-long partnership between Komen and KitchenAid, which has raised more than $8 million for the cause through the sale of pink cooking products, celebrity chef auctions and grass-roots initiatives. Now, Del Webb is lending its community amenities centers and enlisting enthusiastic residents for the cause. While Cook for the Cure offers ways to support the cause year-round, the goal of this initiative is to enlist 1,000 cooks to host gatherings during these specific dates.
About KitchenAid
Since the introduction of its legendary stand mixer in 1919 and first dishwasher in 1949, KitchenAid has built on the legacy of these icons to create a complete line of products designed for cooks. Today, the KitchenAid brand offers virtually every essential for the well-equipped kitchen with a collection that includes everything from countertop appliances to cookware, ranges to refrigerators, and whisks to wine cellars. This year marks the brand's 10th anniversary of Cook for the Cure®, a partnership with Susan G. Komen for the Cure® that has raised over $8
million to help find a cure for breast cancer. To learn why chefs choose KitchenAid for their homes more than any other brand*, visit www.KitchenAid.com or join us at http://facebook.com/KitchenAid and http://twitter.com/KitchenAidUSA.
About Del Webb
Award-winning Del Webb active adult communities provide an optimum lifestyle at an affordable price for those ages 55 and older, creating an unmatched experience for “retirement.” Del Webb communities began with the original Sun City, which opened outside Phoenix, in 1960 and have grown to include more than 50 communities currently open for new home sales in 21 states. Del Webb is the best-known brand of active adult communities in America and draws on more than 50 years experience of providing residents an engaging life that fulfills their creative, physical, mental and social needs. For more information on Del Webb, see www.delwebb.com.
About Susan G. Komen for the Cure®
Nancy G. Brinker promised her dying sister, Susan G. Komen, she would do everything in her power to end breast cancer forever. In 1982 that promise became Susan G. Komen for the Cure and launched the global breast cancer movement. Today, Komen for the Cure is the world’s largest grassroots network of breast cancer survivors and activists fighting to save lives, empower people, ensure quality care for all and energize science to find the cures. Thanks to events like the Komen Race for the Cure® and Komen 3-Day for the Cure®, we have invested more than $1.9 billion to fulfill our promise, becoming the largest source of nonprofit funds dedicated to the fight against breast cancer in the world. For more information about Susan G. Komen for the Cure, breast health or breast cancer, visit komen.org or call 1-877 GO KOMEN.
* Based on a 2010 survey, KitchenAid was found to be the home kitchen appliance brand chosen most often by members of the International Association of Culinary Professionals.
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