Hojin's SW Orlando Real Estate Scoop

Thanks to my favorite writer at the Orlando Business Journal, Anjali Fluker, who has graciously gathered some names of businesses that will be open at the Lakeside Village in Windermere.

Along with Publix, 7-Eleven will occupy a corner and provide a much needed gas station for the area. I hate to admit it, but I do love those Cuban sandwiches there.

Both Chase and Fifth Third Bank has purchased out parcels providing a place to put money in or get it out and maybe financing for a new home.

And finally, the golden arches will be making it’s debut in Windermere. I never thought I’d see the day but it is coming…. McDonald’s in Windermere.

Man, just about all those Publix centers have a Chinese takeout place and a dry cleaners but Mickey D’s? McLovely.

Lately I’ve been trying figure out a way to surmise a way my customers feel when I get their home sold and stumbled across this commercial from the 90′s that pretty much captures the reaction I’m looking for. These are tough times in real estate but my goal with every customer is to handle all the details so the sale of their home evokes the emotion in this commercial. That’s when I know I’ve got the job done.

The highest sale price in 2011 for a home in SW Orlando according to the local MLS is $5.4 million for the  property located at 5139 Fairway Oaks Drive, Windermere, FL 34786 in the community of Isleworth. The surprising thing is that this home is not on Butler Chain but rather on Lake Bessie.

They did come off quite a bit from the asking price of $$7.95 million, yet still managed to record the highest sales price this year.

The property boasted 6 bedrooms, 6 full baths, 3 half baths, 11,023 square feet, an attached guest quarters, 2 elevators, a massive 2 story closet in the master, travertine marble, and a 4 car garage.

The gated community of Cross Creek in Ocoee offers prospective buyers a nice value in the market here in SW Orlando. It’s got top rated schools and convenient to major expressways like the 429, the Florida Turnpike, and the 408. There’s also great shopping close by. No wonder there’s been 11 sales since January 2011.

The average price of the homes sold is $180,700 and the average price per square foot at $87.

The median price was $185,000 and the highest sales price recorded this year for Cross Creek comes in at $218,000.

Most of the homes in this community were built by Ryland Homes, but there’s also some homes built by DR Horton in phase 2.

It’s a wonderful community and I’m sure it will continue to be in high demand.

The latest numbers for the real estate market in Orlando from the Orlando Regional Realtor Association were recently released for August 2011 and the most promising figure again proves to be the declining inventory. A shorter supply with level demand typically means prices will increase. Based on the 2,017 sales that took place last month, the supply of homes on the market stands at 4.82 months…. that’s low. A stable market in Orlando typically has a 6 month supply of homes on the market.

Based on the number of sales the past year, demand has been fairly constant with the number of sales remaining about the same for that period.

I’ve had a lot of comments that the numbers are skewed because there’s a backlog of foreclosures coming on the market. The latest estimates that I’ve been hearing about has been around 20,000. Heck, there’s only 10,349 homes on the market now. What does that mean?

I look at homes for sale all the time and I can definitely attest to the fact that there’s not a lot of choices at the moment.

Hopefully someone with more brains than me can tell me what’s going on here. It sure looks like we’re heading in the right direction.

You can say I’ve seen a few homes over the years and it’s always refreshing when you see a new concept starting to unfold in design. For the longest time it was commonly perceived as granite countertops being benchmarks of luxury in a home. They’re so prevalent that it’s no longer special in my eyes.

I’d love to see something new in kitchens and baths like these resin decks that glow in low light made by Neo-Metro. Matching resin mirrors are also available to complete the look.

Granite is a beautiful stone but it’s so overdone that it’s becoming like one of those great songs that gets ruined from overplay on the radio.

There’s plenty of alternatives out there and I for one would like to see some originality.

I’m no decorating guru but it sure would be nice to see something different.

The Central Florida Film Festival is all set to take place Labor Day weekend at West Orange 5. It’s an annual festival founded by Bob Cook who was the former director of the Osceola Center for the Arts in 2005 with screenings of independent film, seminars, and awards.

West Orange is one of my favorite theaters around Dr. Phillips and Windermere although it’s not the newest nor the fanciest. The seats recline back, there’s small tables scattered throughout the area, and it’s just a comfortable and relaxing place to enjoy a flick starring Jackie Mason who played James Hartounian on Caddyshack II. Absolutely hilarious.

The event is scheduled for September 2, 2011 through September 5, 2011 and an all access pass costs $125.

It’s not Cannes or Sundance but pretty cool for Ocoee.

I’ve been looking at a lot of new construction lately here in Windermere and today I visited the townhomes by Mattamy Homes in Lake Burden at the Lakes of Windermere featuring tile roofs and base prices ranging from $168,900 to $189,900.

I was pleasantly surprised with the level of finish and practical layout of the plans. The tile roof and Victorian architectural features give the facade a nice appeal.

The only downside of these townhomes is that you have to look at vacant field that’s supposedly going through a foreclosure from the previous developer. It’s mowed but looked needing of a lot of manicuring.

The photos here are of the end unit Devonshire model they have on display at the sales center. Hope you enjoy the pix.

The latest 7 day and 90 day moving averages by Altos Research for the real estate market in Windermere, FL (zip code 34786) show some signs of stabilization with prices leveling off and inventory of homes for sale remaining low.

Currently the median price stands at $879,788 and median price per foot at $216/ft.

The average days on market is 226 days and there’s currently 362 for sale in Windermere.

The Altos Research rating currently stands at 16.67 which means it’s a buyer’s market. A rating of 30 would mean we’re in a neutral market and anything above 30 indicates a seller’s market. Aahhh… those were the days.