ORLANDO, Fla. --- Stirling Sotheby’s International Realty recently released its 2010 Celebration Area Market Trends Report, which shows a steady increase in luxury home sales and listings in 2010 over 2009 figures.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said 137 luxury homes and 73 condominiums and town homes sold in Celebration in 2010.
In 2009, 128 luxury homes and 93 condominiums and town homes sold.
Monica Nielsen (http://monicasellsflorida.com/), a resident of Celebration and International Luxury Home Specialist with Stirling Sotheby’s International Realty prepared the study, Soderstrom said.
Sixty-seven homes priced under $400,000 sold for an average of $302,000 in 2010, down from an average of $320,000 in 2009.
Seventy homes priced over $400,000 sold for an average of $613,000 in 2010, down from $662,000 in 2009.
Average sale prices for town homes and condominiums declined from $186,000 in 2009 to $163,000 in 2010.
The most expensive home in 2009 sold for $3.15 million. In 2010, the most expensive home sold for $1.853 million.
To view the Celebration Area Market Trends Report visit http://www.stirlingsir.com/eflyers/pr/02142011/celebration.html
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For more information contact:Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890 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, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates three performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Showing posts with label market. Show all posts
Showing posts with label market. Show all posts
Tuesday, February 15, 2011
Thursday, February 3, 2011
Stirling Sotheby’s Top Executive Says Housing Prices in Central Florida Stabilizing, Establishing a New Pricing Normal in The Market
ORLANDO - Central Florida’s housing slump may have bottomed out and housing prices are stabilizing, says one industry expert, though it may be some time before housing values begin to climb again.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando, said Central Florida’s five-year market decline has left prices down 40-60 percent from the market high and many home sellers have held off placing their homes on the market hoping for a recovery.
“Pricing stabilization has taken a long time, and price increases won’t be realized until sometime in the future,” Soderstrom said. “Home sellers who are holding off waiting for better market conditions may miss out on the greatest buying opportunity if they are looking to purchase a new residence,” he said.
While sellers may realize a lower price than they might hope for, they also have the opportunity to acquire another residence for much less than they could before.
“The market is adjusting and today we are at the point where we have a new pricing normal,” Soderstrom explained.
“Real estate remains a neighborhood business. Some neighborhoods with homes less distressed are performing better than other neighborhoods. Property owners who are selling in today’s market and repurchasing are finding themselves in a win-win situation,” he added.
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For more information contact: Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com
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, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates three performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty in Orlando, said Central Florida’s five-year market decline has left prices down 40-60 percent from the market high and many home sellers have held off placing their homes on the market hoping for a recovery.
“Pricing stabilization has taken a long time, and price increases won’t be realized until sometime in the future,” Soderstrom said. “Home sellers who are holding off waiting for better market conditions may miss out on the greatest buying opportunity if they are looking to purchase a new residence,” he said.
While sellers may realize a lower price than they might hope for, they also have the opportunity to acquire another residence for much less than they could before.
“The market is adjusting and today we are at the point where we have a new pricing normal,” Soderstrom explained.
“Real estate remains a neighborhood business. Some neighborhoods with homes less distressed are performing better than other neighborhoods. Property owners who are selling in today’s market and repurchasing are finding themselves in a win-win situation,” he added.
* * *
For more information contact: Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890; rsoderstrom@stirlingSIR.com
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, property management, in addition to supporting builders, developers, lenders, and asset managers. The company operates three performance zones which serve all of Central Florida. Visit www.StirlingSIR.com.
Tuesday, April 27, 2010
Avalon Park Farmers Market to Relocate and to Remain Open All Summer at Avalon Park Founders Square Starting May 2
ORLANDO - The Avalon Park Farmers Market, which hosts hundreds of Avalon Park residents at Town Park every weekend, will relocate to Founders Square in Downtown Avalon Park starting May 2 and will remain open through the summer on Sundays from 11 a.m. until 3 p.m.
Stephanie Hodson, marketing coordinator at Avalon Park, said the Avalon Park Farmers Market was a fall-to-spring seasonal event that has grown to be weekly and extend through the summer to become a staple event of the community.
“The Avalon Park Farmers Market has evolved into a community gathering and Sunday social occasion as well as a market for fresh vegetables and specialty foods,” Hodson said.
“This is exactly what we were hoping for and we’re going to stay open all summer,” she said.
For more information contact:
Stephanie Hodson, Marketing Coordinator, Avalon Park Group 407-658-6565 stephanie@avalonparkgroup.com; Eric Marks, Vice President, Avalon Park Group 407-658-6565; Beat Kahli, Founder /CEO Avalon Park Group 407-658-6565; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
Stephanie Hodson, marketing coordinator at Avalon Park, said the Avalon Park Farmers Market was a fall-to-spring seasonal event that has grown to be weekly and extend through the summer to become a staple event of the community.
“The Avalon Park Farmers Market has evolved into a community gathering and Sunday social occasion as well as a market for fresh vegetables and specialty foods,” Hodson said.
“This is exactly what we were hoping for and we’re going to stay open all summer,” she said.
For more information contact:
Stephanie Hodson, Marketing Coordinator, Avalon Park Group 407-658-6565 stephanie@avalonparkgroup.com; Eric Marks, Vice President, Avalon Park Group 407-658-6565; Beat Kahli, Founder /CEO Avalon Park Group 407-658-6565; Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142
Friday, September 18, 2009
Avalon Park’s Farmer's Market to add arts and crafts, collectibles and antique dealers to market starting in October
ORLANDO, Fla. – Starting Oct. 11, the Avalon Park Farmer’s Market in downtown Avalon Park will have a new look.
Stephanie Hodson, marketing coordinator for Avalon Park Group, said the Farmer’s Market will include arts and crafts, collectibles and antique dealers when it opens its winter season on Oct. 11
“The Avalon Park Farmer’s Market will be opened on the second Sunday of each month from 9 a.m. to 3 p.m. in Downtown Avalon Park off Alafaya Trail in east Orlando,” Hodson said.
For more information about this release, please contact:
Stephanie Hodson, Marketing Coordinator, Avalon Park Group, 407-658-6565
Beat Kahli, Owner / Founder, Avalon Park Group, 407-658-6565
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
Tuesday, September 15, 2009
Real Estate Investors Eye Improving Market with Higher Interest Rates, Inflation Boost, says NAI Realvest Chairman
ORLANDO, Fla. - U.S. real estate investors foresee an improved housing market in 2011 that could contribute to the expected economy recovery.
Longtime real estate investment analyst George Livingston, chairman emeritus of NAI Realvest in Maitland, said the newest EcoTrends report from the Institute for Trend Research points out that with the housing decline near its end, real estate investors are likely to jump back into the market in increasing numbers.
“Stock prices are way up, U.S. money supply is rising sharply, the Purchasing Manager’s Index is in an uptrend and residential and commercial mortgage interest rates are still low,” Livingston said.
“All those indicators point to real estate as an increasingly important investment asset, so we will likely see some significant growth in residential and commercial real estate values,” Livingston explained.
“The risk is that interest rates and perhaps inflation are likely to be higher in 2011,” Livingston added. “Real estate is of course a good asset to hold in times of inflation.”
For more information, contact:
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com
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. 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 http://www.nairealvest.com/.
Tuesday, August 25, 2009
Commercial Real Estate, Investment Analyst Sees Mixed Signals on Economy, Housing News Promising
Commercial Real Estate, Investment Analyst Sees Mixed Signals on Economy, Housing News Promising
ORLANDO, Fla. - Veteran commercial real estate and investments analyst George Livingston, chairman emeritus of NAI Realvest in Maitland, said the Federal Bank of Atlanta’s recent economic update reports mixed signals on the U.S. economy but good news for the U.S. housing market.
While consumer gauges---the U.S. Consumer Confidence Index and the University of Michigan’s Consumer Sentiment Index---showed declines, capital goods orders increased modestly in June for the first time in more than a year.
Two major housing indices may signal a bottoming of the housing slump and the path toward recovery. The widely respected Case-Shiller Home Price Index was up, Livingston said, and new and existing single-family home sales were up in June for the third month in a row---and higher than industry expectations.
“It appears the housing market may be recovering and the rest of the economy is lagging,” said Livingston.
For more information, contact:
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com
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. 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 http://www.nairealvest.com/.
ORLANDO, Fla. - Veteran commercial real estate and investments analyst George Livingston, chairman emeritus of NAI Realvest in Maitland, said the Federal Bank of Atlanta’s recent economic update reports mixed signals on the U.S. economy but good news for the U.S. housing market.
While consumer gauges---the U.S. Consumer Confidence Index and the University of Michigan’s Consumer Sentiment Index---showed declines, capital goods orders increased modestly in June for the first time in more than a year.
Two major housing indices may signal a bottoming of the housing slump and the path toward recovery. The widely respected Case-Shiller Home Price Index was up, Livingston said, and new and existing single-family home sales were up in June for the third month in a row---and higher than industry expectations.
“It appears the housing market may be recovering and the rest of the economy is lagging,” said Livingston.
For more information, contact:
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com
Patrick Mahoney, President, NAI Realvest, 407-875-9989 pmahoney@realvest.com
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142 lvershelco@aol.com
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. 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 http://www.nairealvest.com/.
Thursday, July 9, 2009
Nearly Half of Central Florida Home Buyers Pay Cash as Lower Priced Condominiums and Homes Impact Housing Market
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.
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.
Friday, May 8, 2009
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.
Friday, May 1, 2009
George Livingston: Last Quarter was The Worst, This One will be Better, Positive Growth should start by December
George Livingston: Last Quarter was The Worst, This One will be Better, Positive Growth should start by December
MAITLAND, Fla. - The first quarter of 2009 was the worst of the recession, according to longtime area market analyst George Livingston, chairman emeritus of Orlando-area based NAI Realvest.
“The current quarter will be less bad, and we’re already seeing signs of improvement, but we won’t see positive growth until the last quarter of this year or the first quarter of next year,” Livingston said.
“Initial recovery will be slow, full recovery won’t occur until well into the next decade,” Livingston said.
“Consumer confidence is low but it is getting better, and the same can be said for business confidence,” Livingston said.
“Profits are improving in some cases. Banks should do better as we move forward and the third quarter should see broad improvement in corporate earnings,” he said.
Livingston said housing should bottom by year-end, and recovery will be slow due to the drag of foreclosures. “When the housing market recovers, we won’t see the sort of peaks we’ve seen in the past,” he said.
The reason? “Unemployment will continue to increase through year-end,” Livingston said. “Job creation will be slow."
Economic trends will continue to have a negative effect on most commercial real estate sectors, Livingston added, including retail, office, warehouse and distribution.
“Rental apartments should be among the first to recover,” Livingston said.
For more information please contact:
George Livingston, Chairman Emeritus, NAI Realvest 407-875-9989 glivingston@realvest.com;
Janice Paiano, Director of Marketing, NAI Realvest jpaiano@realvest.com
Larry Vershel or Beth Payan, 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. 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 http://www.nairealvest.com/.
Thursday, April 30, 2009
ICI Homes Chairman Hosseini optimistic about housing recovery
ICI Homes Chairman Hosseini optimistic about housing recovery
DAYTONA BEACH, Fla. – April is shaping up to be the best month for ICI Homes sales in the last three years, Mori Hosseini, chairman and CEO of the homebuilding company told the national audience on CNBC’s daily TV show Mad Money hosted by Jim Cramer earlier this week.
Cramer has been insisting that the hard data supports his conclusion that the housing market will bottom out in June of this year despite continued media commentary to the contrary. So he decided to reach out to one of the nation’s hardest hit markets – Florida, and to one of the nation’s largest privately-held homebuilders to get his perspective. Hosseini and Cramer discussed the state of the industry.
"Prices of homes stopped dropping in February and the velocity of sales picked up dramatically,” Hosseini said. “We are cautiously optimistic that we are coming out of the downturn and the worst is behind us.”
Hosseini has good reason to be optimistic. Traffic to the ICI sales centers has spiked in recent weeks, he said.
“There is demand out there because we cut our prices to their lowest levels in many years. Savvy buyers recognize tremendous value when they see it, so they’re finally getting off the fence, taking advantage of historically low interest rates and getting back into the market…and that’s good news for us.”
When asked why he thought the media was under reporting this shift in activity, Hosseini explained to Cramer and his audience that the media has always been a lagging indicator in any building recovery and it may be six to seven months into the rise of activity before the media starts reporting positive news.
Cramer closed the segment lauding Hosseini’s positive comments which he strongly indicated supports his theory that the housing bottom is nearing.
For more information, contact:
Lisa A. Egle, Marketing Manager ICI Homes-Daytona Beach, 386-236-4273
Rosemary Messina, VP Sales & Marketing ICI Homes, 386-236-4231
Larry Vershel or Beth Payan, Larry Vershel Communications, 407-644-4142
About ICI Homes
ICI homes, ranks among the top 100 Builders by Builder magazine and is one of the largest privately owned homebuilder in the US. The 30-year-old firm builds new homes and resort facilities in the Volusia-Flagler region as well as Northeast Florida, Orlando and Tampa.
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