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 turned round and said “Let us re-read everything on the weekend and we will get back to you on Monday or Tuesday.” The amazing thing is they did call me after the weekend and made reservations to buy new vacation homes. Even as late as last year, this would never have happened. If the client doesn’t buy on the day then they were gone forever. But you know what? I actually like these new rules and expectations as it shows me that the client is very serious, although it is a little hard to unwind at the weekend not knowing.
These new clients, regardless of nationality are taking their time to make sure that they are making the right decision based on their personal circumstances and finances. This is great news for the buyers as they have had all of their questions answered and can sleep peacefully at night knowing that they made a great purchase.
The motivation for buying new vacation homes or second homes in Orlando is varied and one of the key motives, especially from South American buyers is the desire to invest into a safe market in a country where there is political stability and prices are increasing.
Prices of new vacation homes in Orlando range from around $175,000 for new 3 and 4 bedroom townhomes to $564,000 for a 10 bedroom vacation home at Reunion. Areas such as Dr Phillips and Windermere also have some beautiful homes with prices starting in the $600’s but you will not be able to rent them out as the areas are not short term rental zones.
Outside of the Disney shadow, Lake Nona is booming as are some more traditional residential areas such as Baldwin Park, Winter Park, Lake Mary, Gotha and Winter Garden. These residential areas of Orlando are attracting affluent professionals who are more interested in great schools than great entertainment.
Orlando’s overall median price has recorded year-to-year gains for 33 consecutive months and has risen 41.13 percent since July 2011, yet even now prices are 20-30% below peak levels in 2006/7. With more families buying with cash or at least paying larger deposits, the Orlando real estate market is looking very stable and likely to continue the upward trend for the foreseeable future.
If you need assistance in finding the perfect new vacation home in Orlando or a new primary residence take a look at our site Buy Orlando Properties or email me using the form below.