Orlando prices on the up

Well buying season is now with us, although according to recent numbers out it has already started. Prices for Orlando Metro were up in February by 2.6% and demand for new homes seems to be far outweighing the amount of listings on the market. Pending sales for March are already up 14% on Februaries numbers.

This leads to one thing and one thing only. Orlando prices on the up and prices will continue to increase.

If you are looking at purchasing a new vacation home, now is the time. Click here to view the latest communities and models.

Orlando Visitors in 2015

Orlando visitors in 2015Orlando Visitors in 2015

Orlando has smashed all previous records with 66 million visitors in 2015, representing almost 2/3 of all visitors to Florida. Well you officially heard it hear first because as far back as August of 2015 we were already saying that we would see 65 million and even that was well beaten.

Working with a team of professionals who know and understand the market is vital to ensuring that you buy the right property for you and your family. Our 30+ years of insight and experience of the Orlando vacation home market is why our owners are not only happy owners but they are purchasing second, third and even fifth homes with us.

If you are ready to buy a vacation home in the Disney area which averages between 38 and 42 weeks of occupancy each year, Contact Us and allow us to make you one of our success stories.

 

 

Orlando 7 star hotel

In recent news it looks like Orlando will shortly be the home to the first 7 Star Hotel in the U.S.  With only 3 working 7 Star Hotels in the world and several more under construction, this is a landmark piece of architecture for Orlando.

The isquare mall + hotel, has been designed by local architectural company Scott Architecture Interior Design (SAID) on behalf of there client. The isquare mall + hotel is expected to cost $300-400 mm and will include:

  • Ice Skating
  • Performance Theatre
  • Meeting and Conference Areas
  • Multiple Restaurants
  • Revolving Rooftop Restaurants
  • Observation Deck
  • Spa and Healthclub
  • Helipad
  • Parking Structure

Images of isquare mall + hotel

Information on the 1square website states the following

“The Height of Luxury

The 7 Star Hotel will be centrally located in the heart of Central Florida in Orlando’s tourism corridor, offering direct access to the exclusive shopping and entertainment on International Drive. International Drive currently caters to today’s business travelers, convention attendees, business executives and tourists seeking luxury accommodations, among their choices iSquare’s extraordinary customer care that will stand out to reflect the seven star service.

Developed by iSquare Mall + Hotel Development, LLC of Orlando, the project is the brainchild of international Developer Abdul Mathin. This Mega Hotel will have 749 superior guest rooms (from 350 square feet to 475 square feet) including 29 super luxury suites will be designed for Celebrities, Billionaires and Sportsmen (from 1200 square feet to 4200 square feet-with 20 feet ceilings), an exclusive Fitness/SPA/Lap pool, a gourmet kitchen will be part of the luxury suites with butler rooms.
A variety of world famous restaurants include a lobby lounge, a piano bar, a Latin/American Restaurant, a Japanese Seafood & Teppanyaki Restaurant, an Italian Cuisine and a Chinese Gourmet Restaurant.

Recreation facilities include 24,000 SF iSquare’s signature SPA to include Turkish Bath, Japanese Mud Bath and finest European SPA, while meeting facilities feature a grand ballroom of 100,000 + square feet and complementary meeting/party rooms.

In addition, the hotel will have a 600 seating live performance Theater, Ice Skating Rink and International Food Court. A Helipad on the roof top to accommodate the arrival of VIP guests. A 24 hour revolving restaurant atop the Hotel with observatory deck. Guests can enjoy shopping from various top designer brand stores in the Mega vertical Mall in the same complex.”

The project is expected to be completed by the summer of 2017.

This got us thinking. Orlando has always been one of the top destinations in the world, but we never considered the need for such an exclusive hotel. Is Orlando changing right before our eyes? Are future demographics destined to bring wealthier visitors and residents?

Perhaps we couldn’t see the woods for the trees. Medical City is booming and executives from high powered conglomerates will obviously want somewhere nice to stay. In fact there is a huge amount of development going on across Central Florida, covering industrial, commercial, sporting, residential as well as resort communities. Maybe Orlando is morphing into something more than a vacation destination. Let’s wait and see!

 

 

Orlando Golf Courses

Orlando Golf Courses

Within one hour’s drive there are over 150 Orlando golf courses; ranging from Championship golf courses, to private, semi-private and public golf courses. Orlando may have become famous for the theme parks but for golfers it is paradise which continues to expand. Orlando golf course communities which offer the “Country Club” lifestyle are a staple diet of upper management, business owners and wealthy retirees. Magnificent custom built homes of every style, boasting huge floor plans and ornate appointments are expected if not demanded!

Many of these upscale country club golf homes start at well over a million dollars or even more. Most of the private courses are well established alongside or surrounded by very upscale residential communities filled with million dollar homes. You will require deep pockets in order to purchase a home which in turn allows you to become a member of the club. Some of the best Orlando golf courses are in the Windermere area and include Bay Hill, Isleworth and The Golden Bear Club at Keens Pointe. Lake Nona Golf and Country Club is currently at the top of many shopping lists due to the new projects surrounding Medical City. There are many semi-private golf course communities similar to Lake Nona and if you are looking to buy a piece of fairway then you are sure to locate a great home at a sensible price.

Resort style golf course communities are popular with many out of state and overseas owners because they can rent many of these homes out in certain areas, when not in use and potentially cover some or all of your monthly costs. Orlando tends to be one of the focal points for this type of golf resort property given the huge amount of tourists which vacation here each year. Reunion Resort is one of the most popular luxury resort golf course communities which has a number of new communities within the masterplan including Reunion West and Patriots Landing. A minute or so down the road there is the ChampionsGate Resort and Providence which are mixed resort and residential homes. All offer similar facilities and excellent golf courses.  

reunion-resort golf course homes

Below are some of the most popular and sought after Orlando Golf Courses.

New vacation homes

WOW I can’t believe it’s been a month since my last update. We have been really busy with buyers from Europe and South America since the end of April and time has really flown by. The good news is that we now have several new owners of new vacation homes in a handful of wonderful communities close to Disney.

It’s interesting to look at the different motivations buyers have from different countries. The British are keen to buy new vacation homes in communities which hold the best potential for renting out their properties whilst the Brazilians are far more likely to want a new vacation home as a vacation home for the family with little inclination to rent it out.

One thing they all buyers have in common at the moment is the depth of due diligence they perform, not only before they arrive but also once they have visited the properties and seen the floor plans if there is not an ‘equivalent’ show house to view. Without fail, every client in the last month has Continue reading

Cheap mortgages

 Cheap mortgages in Florida

Cheap mortgages can still be found everywhere if you have a half decent credit score and a job, but many people are being scared out of buying a home when now is probably their best opportunity to get on the housing ladder. According to the Bankrate.com national survey of large lenders, the benchmark 30-year fixed-rate mortgage rose to 4.48 percent from 4.43 percent the previous week. This triggered all kinds of headlines about slowing markets, poor value for money and a whole host of other things. Obviously sensationalist headlines sell, but let’s take a closer look. Continue reading

Property Taxes in Florida

Reminder to Florida Property Owners – Real Estate & Tangible Tax Bills due by end of March

Ad valorem taxes are levied annually based on the value of real estate property and tangible personal property.  Non-ad valorem assessments are also made on real property for essential services, such as fire protection and garbage collection.

The term real estate tax is a common reference to a tax on real property. Real property refers to land, buildings, fixtures, and all other improvements to the land.

Real Estate Taxes consist of ad valorem taxes and non-ad valorem assessments.

In Florida, Tangible Personal Property Taxes refers to ad valorem taxes on the assessed value of furniture, fixtures, and equipment located in business and/or rental properties and on mobile home additions, where the owner of the mobile home does not also own the land upon which it is affixed.

Upcoming filing deadlines… 

April 1st – 2014 Tangible Personal Property Tax Returns required to be filed in Florida.  The returns are prepared and submitted to report furniture values for all first year filers and furniture values of more than $25,000 for prior year filers where required.

April 15th – Income tax filing deadline for US citizens and permanent resident (green card holders) income tax returns.  Extensions may be filed to October 15th without penalty PROVIDED no income tax payment is due.

June 15th – Income tax filing deadline for non-residents to report US source income such as rental, capital gain etc.  Extensions may be filed to October 15th without penalty PROVIDED no income tax payment is due.

June 30th – Filing deadline for reporting of Foreign Bank and Financial Accounts (FBAR). United States persons are required to file an FBAR if they had a financial interest in or signature authority over at least one financial account located outside of the US and the total value of all foreign (non US) financial accounts exceeded $10,000 at any time during the calendar year to be reported.

A United States person includes US citizens, US residents, entities, including but not limited to corporations, partnerships or limited liability companies created or orgnanised in the US or under the laws of the US; and trusts or estates formed under the law of the US. Significant civil & criminal penalties may apply to late filers.

Information courtesy of Harding and Associates