SOUTHWEST ORLANDO MILLION DOLLAR LUXURY HOUSING MARKET STABLE, GROWTH EXPECTED IN 2013

ORLANDO, Fla. --- A new market trends study by Stirling Sotheby’s International Realty shows that $1 million plus luxury housing sales in the southwest Orlando area, which stretches from Windermere to Disney, have stabilized and points to a substantial uptick in sales in 2013. Vicky McVay-Froom, International Marketing Expert with Stirling Sotheby’s International Realty’s Dr. Phillips Marketing Center, said 78 million-dollar plus homes sold in the southwest Orlando quadrant through the third quarter of 2012, up from 74 million-dollar plus homes during the same period last year. McVay-Froom, who conducted the study, said the average sale price was just under $1.7 million, down from an average of just over $1.8 million in 2011. The surprise market was Golden Oak, Walt Disney World Resorts’ new mega luxury community, which posted 10 sales through the third quarter with an average sale price of $2.5 million or $520 per square foot. “Listing activity was down by 29 percent through the third quarter in 2012. The overall average sale price is down, and sales are stable,” McVay-Froom said. “Those three indicators are relevant,” said Roger Soderstrom founder and owner of Stirling Sotheby’s International Realty. “The market has bottomed out. Demand is increasing, supply has decreased, and we anticipate that sales will increase in 2013 as well as sale prices,” he said.

Ashton Woods Homes Has Six Move-in Ready Townhomes at Crenshaw Reserve in Lutz

TAMPA, Fla. --- Ashton Woods Homes has completed six new ready-to-move-in three and four-bedroom townhomes at Crenshaw Reserve, located off S.R. 19 in Lutz. Michael Roche, vice president of sales and marketing for Ashton Woods Homes in the Tampa Bay region, said new townhomes at Crenshaw Reserve range in size from 1,791 square feet of living space to 2,315 square feet and are priced from $219,990. Amenities at Crenshaw Reserve include a community clubhouse and swimming pool. Ashton Woods Homes, headquartered in Atlanta, is one of the nation’s largest private homebuilding companies with operations in growth communities in Atlanta, Austin, Dallas, Houston, Killeen, Orlando, Phoenix, San Antonio, Raleigh and Tampa. For more information, visit http://www.ashtonwoods.com.

Lennar Starts Construction of 51 Town Estate Homes at Grand Hampton in New Tampa, First model ready in January

TAMPA, Fla. --- Lennar has started construction of 51 new Town Estate Homes at Grand Hampton, located on Grand Vista Lane off County Line Rd. in New Tampa. Mark Metheny, president of Lennar’s Central Florida Division, said three and four-bedroom floor plans will be available at Grand Hampton Town Estates priced from under $200,000. Lennar’s first model at Grand Hampton will open in January, Metheny said. Town Estate Home floor plans will include: The Begonia floor plan offering three bedrooms, two-and-a-half baths and a loft in 1,930 square feet of living space with a two-car garage, priced from $198,990; The Azalea with three bedrooms and two-and-a-half baths with a loft in 2,056 square feet of living space with a two-car garage, priced from $203,990; and The Camellia, a four-bedroom design with two-and-a-half baths a loft in 2,466 square feet of living space with a two-car garage. Grand Hampton is a gated, master-planned community that boasts Old Florida-style living amongst stately oaks with a clubhouse, swimming pools and hiking trails among its amenities. Visit www.LennarTampa.com.

Royal Oak Homes Starts presales of 81 new homes priced from $135,000 at Barrington Estates in Clermont

ORLANDO, Fla. --- Royal Oak Homes, based in Orlando’s Baldwin Park, has started presales of 81 new homes priced from $135,000 at Barrington Estates, a gated community just south of the intersection of Log House Road and CR. 561. Matt Orosz, vice president of operations at Royal Oak Homes, said the home builder has already sold five new homes at Barrington Estates. Royal Oak Homes has started construction of the Monica model home at Barrington Estates with four bedrooms and two baths in 1,927 square feet of living space priced from $154,999. New three, four and five-bedroom homes at Barrington Estates will range in size from 1,500 square feet of living space to 3,251 square feet. Barrington Estates is located directly next to Pine Ridge Elementary and only three miles from Royal Oak's successful Hammock Reserve development. Currently, Royal Oak Homes builds single-family homes in 10 Central Florida communities.

Cuhaci & Peterson Helps Wawa Reach Further

ORLANDO, Fla. — Cuhaci & Peterson Architects, in conjunction with CBX based in New York City, has designed Orlando’s first six Wawa stores, which are now open on Central Fla. Parkway, Goldenrod Road, Silver Star Road, S. Orange Blossom Trail in Orlando, N. Orange Blossom Trail and Hwy 192 in Kissimmee. In addition, another 20 Wawa stores are set to open in Florida in 2013, said Jed Downs, president of the architectural firm based in Orlando’s Baldwin Park. The new prototype stores are intended to reflect the style and influence of Florida architecture and include exterior characteristics that reference south and central Florida historical building types, Downs added. Five of the 20 additional stores will open in the Central Florida region by the second quarter of 2013 and another four are scheduled to open in the Tampa Bay area

NAI Realvest Negotiates New Lease at Boardwalk Plaza in UCF area with franchisee for Dunkin Donuts

ORLANDO, Fla. – NAI Realvest recently negotiated a new long-term lease agreement for 1,780 square feet in the Boardwalk Plaza at 3100 Alafaya Trail in Oviedo. NAI Realvest principals Matt Cichocki and Kevin O’Connor negotiated the transaction representing the landlord, Boardwalk Plaza LLC of Gardena, Calif. The new tenant MSVG Alafaya LLC of Norwood, Mass., leased Unit 1018, a southern endcap unit at the retail center to open a Dunkin Donuts by the end of this year. David Cobb of Bishop Beale represented the tenant.

Integrity Home Loan of Central Florida names Ian Geibeig Senior Loan Officer at Jacksonville branch

Lake Mary, Fla. – Integrity Home Loan of Central Florida, Inc., one of the region’s most active residential mortgage lenders, has named Ian Geibeig, senior loan officer in the firm’s Jacksonville branch. Matt Malloy, president of Integrity Home Loan, said Geibeig has more than 10 years of experience in the banking and mortgage lending industry. He was formerly employed with Charles Schwab and Bank of America. Integrity Home Loan currently has nine locations throughout Florida including is Central Florida headquarters in Lake Mary, and in Coral Springs, West Palm Beach, Jacksonville, Orlando, Tampa, and a new branch in the Detroit suburb of Southfield, Mich.

M/I HOMES STARTS DEVELOPMENT OF NEW LUXURY COMMUNITY

LAKE MARY, Fla. --- M/I Homes has started development of the new residential community, Versailles, located off Orange Avenue, north of S.R. 46 in North Seminole County. David G. Byrnes, area president of M/I Homes in the Orlando region, said M/I Homes plans to build 57 new three, four, five and six-bedroom homes at Versailles, priced from $389,990 to more than $500,000. Byrnes said presales will start in January and the first model home at Versailles will start construction in April.

First Green Bank Ranks First Among Central Florida Independent Banks in Asset Quality, Fifth in Florida According to Study

MOUNT DORA, Fla. --- First Green Bank in Mount Dora ranks first among independent Central Florida banks and fifth in Florida, according to a massive statewide Asset Quality Review by the Carson Medlin Company, which provides specialized corporate financial services to banking institutions nationwide. Kenneth LaRoe, chairman of First Green Bank, said Carson Medlin analyzed a range of parameters to evaluate 29 leading independent banks in Central Florida and 188 banks statewide. First Green Bank’s total assets of $196,275,000 rank the bank eleventh among the region’s independents, LaRoe said---right in the middle. But First Green’s community-focused lending policies have served the best interests of investors, depositors and customers while earning First Green the Number One spot in asset quality. “What the study really means is that our values based investments in our communities have resulted in far fewer bad loans than most independent banks in Florida,” LaRoe explained. First Green Bank posted zero past due loans, zero non accrual assets, zero REOs (real estate that the bank has taken back to cover debts) and only $288,000 in restructured loans when the region-wide average is almost $5.5 million per bank. Independent banks in Central Florida average more than $12 million in non-performing assets---NPAs or bad loans. First Green Bank has none. And while Central Florida banks posted an average NPA-to-asset ratio of 4.48 percent, First Green scored a big fat zero, according to LaRoe. Most notably, First Green was one of only seven Florida banks to earn a coveted zero on the famed Texas Ratio---a widely regarded measure of sound banking practices developed by Texas banker Gerard Cassidy and RBC Capital Markets more than 30 years ago. “We have taken an aggressive approach to lending for projects that improve the economic vitality and quality of life in Central Florida,” LaRoe said. “That might earn us criticism in some circles, but our experience---affirmed by Carson Medlin’s Asset Quality Review---is that these are the best loans to make. We play fair. We respect our customers. We do the right thing. And our borrowers are good, solid people,” he said. “In our business, character counts,” LaRoe said.

Ashton Woods Homes Acquires Townhome Sites at Community South of Downtown Orlando

ORLANDO, Fla. – Ashton Woods Homes has acquired 66 three and four bedroom townhome sites at Copley Square located off Michigan Street and Delaney Avenue south of Downtown Orlando. Michael Roche, vice president of sales and marketing for Ashton Woods Homes, said the townhomes range in size from 2,000 square feet of living space to 2,400 square feet with two car garages. Ashton Woods townhomes at Copley Square will be priced from the mid $200s, Roche said, and are designed and built according to Power House Green and Environments for Living™ standards for high levels of efficiency and comfort. Models under construction will be completed and ready for viewing in December, Roche added. The community offers a pool and cabana. Ashton Woods Homes, headquartered in Atlanta, is one of the nation’s largest private homebuilding companies with operations in growth communities in Atlanta, Austin, Dallas, Houston, Killeen, Orlando, Phoenix, San Antonio, Raleigh and Tampa. For more information, visit http://www.ashtonwoods.com.