A Place in the Sun

We had a great weekend at the A Place in the Sun Exhibition in Birmingham, UK this past weekend.

Many of our owners stopped by to say hello and tell us how well their vacation homes are doing on the rental market; several even bought another vacation home, as we had put together some great deals with our builders.

The A Place in the Sun show brought in around 8,000 people who were looking to buy a holiday home in the sun and even though the Florida Pavilion was by no means the largest, it seems as though many of the attendees preferred the idea of being close to Disney, as against traditional Mediterranean destinations. The sun may beat down in many locations, but the rental incomes in Orlando simply out-perform every other market place, plus you get to use the property yourself; and you don’t have to worry about whether there is going to be a government coup.

We met lots of new ‘owners to be’, some of whom are just fact finding and dipping their toes in the market, plus a host who already had a very clear idea of what they want.

We want to say a huge thank you to Joelle from Park Square Homes who worked her tush off for our clients, helping them get the best deals possible.

Also a big shout out to Sue and Alan Harding who were on hand to assist our clients with everything tax orientated. If you are looking at buying a property in Orlando and need sensible advice about taxes, this husband and wife team have over 16 years experience with owners of Orlando real estate from around the world as well as U.S owners.

Brian from MoneyCorp stood in for Kelly Cutchin and worked extremely hard for us and our clients, we just put up with the fact that he is not as pretty as Kelly, but we are sure some of the ladies didn’t mind too much.

Finally a huge thank you to all of the people who turned out to see us, especially with so much sport going on and the great weather we had.

Lee-APITS2

James-APITS2

 

 

 

 

 

 

 

If you didn’t make it to the show, check out our properties on the main site and see if we can tantalize you with some of the most attractive and highest yielding vacation homes in the world.

We have a huge selection of new construction vacation homes and are currently awaiting the launch of one or two new vacation communities which will be offering new floor plans and great prices.

Orlando Low HOA fees

One of the largest denominators in reducing rental income for overseas buyers and even for locals trying to control a monthly budget is the HOA fee. HOA fees can run to several thousand dollars each year and regardless of income, that can hurt.

We explain to our clients that the more amenities a community has, the higher the HOA fee is likely to be. It really is this simple!

So, for example, if you are reliant on rental income perhaps you are often better off in the long run to forgo some of the luxury amenities, therefore reducing your monthly outgoings. If you are planning on spending a great deal of time in the property with your family, then perhaps a couple of hundred dollars extra each month is worth the convenience for you.

When it comes down to the numbers though, allowing for slightly lower purchase price and lower rental rates in a community with fewer amenities, it typically provides a higher net profit than going with all of the bells and whistles. It boils down to how you want to use the property. You have to decide and let us know as we can only give you the facts and offer the best options based on your criteria.

One local developer is currently launching a new resort community across the street from Championsgate. Instead of competing with fantastic amenities and excellent golf courses, they have decided to go in the opposite direction by keeping amenities to a bare minimum and reflecting this choice in the home prices. With 4 bedroom pool villas starting from the low $200,000’s and low HOA fees at ridiculous levels, Laurel Estates is already proving to be extremely popular with some of our clients; and they developer has only just begun moving the dirt.

Good things come to those who wait, but those who get in early get a great deal!

Orlando Rental Guarantees

Orlando rental guarantees have long been a hit and miss affair. Over the years I have seen numerous resort communities and management companies offering elusive rental guarantees which have never really cut the mustard, let alone delivered.

Earlier this year however, a new community in Providence called Rosemont Woods was brought to our attention and for the first time in over 3 decades I actually like what I see. The resort will be managed by an established property management company who have agreements with Virgin Holidays. As Virgin is for delivering on its products and is responsible for delivering tens of thousands of families to Orlando each, we feel that this opportunity, really is an opportunity.

With prices starting from $329,000 and including all of the furniture and furnishings Rosemont Woods allows prospective owners to see exactly what it will cost them to buy and they will know upfront how much they can expect in rental income.

The monthly rental income is fixed for 5 years, with an option to extend the agreement for 5 more years. For overseas buyers and out-of-state owners, this guaranteed income is not going to let you retire early, and you can get a higher return in a more conventional rental scenario, but it lets you sleep at night. With prices increasing in the short term rental arena, several of our clients have chosen to buy Rosemont Woods, with a view that in 5 years they can either renew the rental agreement or cash in on equity growth and purchase a property which better suits their future/ current requirements.

The Diagon Alley Effect

The Diagon Alley Effect

The Diagon Alley EffectDiagon Alley is the latest addition to the theme park arena in Orlando. It is obviously exciting news for Harry Potter fans but it is also great news for Orlando vacation home owners and local businesses.

Visit Orlando announced in April 2014 that the total visitor numbers for Orlando was a record 59 million people. That’s a staggering 161,644 people EVERY DAY who are in town, making Orlando the most visited destination in the nation.

The theme parks are obviously key factors. Drawing 10’s of millions of people each year. The great shopping, entertainment, sports facilities and easy accessibility to the beach all help to top up the visitor numbers.

Orlando visitors spend $91,000,000 daily and create 380,000 jobs in and around the city and giving an economic impact of $54 Billion dollars.

Tourism’s social and economic benefits

Orlando offers a number of benefits and awards for residents. Other than living in the world’s number one tourist hub, residents of Orlando have world class restaurants on their door step, fantastic shopping and immediate access to MCO, one of the most acclaimed and affordable airports in the country; and one that is currently being expanded further, allowing even more tourists to arrive each year. MCO already deals with 795 arrivals and departures every day.

Tourism supports over 380,000 workers in the hospitality and associated industries which include accountants, cooks, cleaners, hotel managers, bankers, landscapers and real estate agents.

Visitors to Orlando provide over $34 billion in spending power. On top of that there are local sales taxes which are spread throughout the region for projects which include schools and infrastructure. Additionally visitors pay tourist development taxes on rooms and vacation homes which they rent during their stay.

Who are the international tourists?

The office of Travel and Tourism Industries has stated in their annual report that Orlando welcomed 768,488 Brazilian visitors in 2013 making Brazilians the number one nationality of visitors to Orlando, marginally outperforming UK visitors who totaled 759,390 in the same period. Perhaps we will start seeing signs for Beco Diagonal  which is Brazilian for Diagon Alley.

 Diagon Alley

Expectations for Diagon Alley are already proving to be hitting the mark as crowds gather daily to visit the new park and experience a little Harry Potter for themselves.

In the real world what kind of effect is Diagon Alley expected to have?

Pre- Hogsmeade opening up at Universals ‘Islands of Adventure’, visitor numbers were stable at 4.2 million per year. The opening of Hogsmeade in June 2010 bumped visitor numbers to almost 6 million, representing a huge effect for only 6 months of that year.

2011 total figures showed that 7.6 million people had entered through the gate. Basd on these numbers Universal Studios could be looking at a further 2 million visitors next year, pushing the 2015 numbers to well over 9 million.

All of the above has a relevance to the vacation home industry. These families need a place to stay. Owners of vacation homes within a 30 minute drive can expect to see excellent booking numbers in the coming years, especially those in the Kissimmee, Davenport areas which offer quick access to I-4 or via 192.

Take a look at the Vacation home communities in this key area and start making plans for taking advantage of the increasing tourism levels we are expecting for the foreseeable future.

Orlando the most visited city in the world

Orlando is unofficially the most visited city in the world

Recently London hit the headlines as the worlds most visited city, narrowly taking the title from Paris. This has caused a ruckus between London and Paris as the French have yet to release their official numbers. Regardless of what their numbers proclaim the results will no doubt be very close. It is also completely wrong in my opinion.  As an Orlando resident of over 30 years, I am not too happy with the results!

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Orlandos changing market

Orlando changing real estate marketFor more than 30 years I have been helping families buy property in Orlando. Many of these have been vacation homes near to  Disney as most of the Short Term Rental zones are in the ‘Four Corners’ area. Although this market continues to be strong we are seeing a considerable amount of buyers looking for a second home; more of a lifestyle purchase which is not required to be rented out. Continue reading