Real Estate & Construction

Beyond the Bombs

2008-07-08T15:58:24Z

One year ago, when news came out that the Vista Lakes area had been used as a bombing range during World War II, immediate concern was for the safety of the children at Odyssey Middle, smack in the bulls-eye of the affected area. Next, the question of whether private and other public areas were safe. The Army Corps of Engineers commenced a clean-up effort to find any unexploded bombs, debris or contamination. While that effort is still underway (despite earlier assurances they’d found everything, many more bombs were found this past spring), there is no end date in sight.

Commercial Real Estate Still Strong

2008-07-08T15:49:31Z

Commercial real estate throughout the Central Florida region is still going strong, despite the residential side of the business falling off 20-30% in some areas, according to Mark P. Wylie, president and CEO of the Central Florida Chapter of Associated Builders and Contractors, Inc. The ABC is a non-profit commercial construction trade association chartered and incorporated here in 1973; it represents more than 550 member companies. Central Florida is one of the largest ABC chapters in the country, and offers business development services, continuing education classes and more for its members.

Many of the large projects currently underway were funded, permitted and planned in 2006 and 2007 with construction activity based on economic growth from the early part of the decade. Wylie says, “Commercial real estate is more of a lagging indicator of the economy.”

Foreclosure Facts

2008-07-08T15:44:25Z

Foreclosure. Quickly becoming one of the most dreaded words in the English language because of its power and prominence, foreclosure is looming over millions of homeowners today. There are more than 7,000 homes in one phase or another of foreclosure just within seven East/Southeast Orlando zip codes, according to RealtyTrac.com, one of the most quoted sources for foreclosure information across the country. The site also reports that the number of Americans who may lose their home to foreclosure more than doubled in August 2007 from a year prior as subprime borrowers with adjustable-rate mortgages saw their monthly payments increase.

Rental State

2008-07-08T15:38:21Z

Before the housing boom went bust, homeownership was considered by many to be a good investment. Now, with the mortgage foreclosures epidemic, renting may look more attractive. According to popular myth, renters are just throwing their money away. But when you buy a home, you’re paying for closing fees, mortgage interest, property taxes, private homeowners’ insurance and maintenance and other costs that may never be recouped. The reality is that, sometimes, renting is a better option.

SOLD: If the Price is Right

2008-07-08T15:16:10Z

With home sales slumping and inventories on the rise, experts say getting your home sold depends a lot on pricing it correctly. Ultimately, the value of your home is what a reasonable buyer is willing to pay within a reasonable time, period. The right price doesn’t necessarily take into account what you paid for it or what you still owe on it, but these days it’s hard to take the emotions out of setting a price. It requires a close look at comparable home sales in your area, as well as making an assessment of the condition of the real estate market.

Psychology of the Real Estate Market

2008-07-08T15:09:16Z

There is a significant relationship between the status of the economy and mental health. Financial stress can lead to feelings of fear, frustration and depression. Money is an emotional issue for many people and one of life’s biggest stressors. When an individual loses her or his job and is unable to make ends meets, the result can be devastating. It can leave individuals with a high level of anxiety and can lead to clinical depression. This is often complicated by the loss of affordable health insurance and the inability to afford treatment due to economic hardships.

Understanding the Short Sale

2008-07-08T15:06:24Z

Lately, with the increase in foreclosures, you may have heard the term “short sale” and wondered what it means. When a borrower is in default on a mortgage, what they owe in back payments, late fees, and attorney fees can add up quickly. Any equity in the home can disappear. A short sale is when the lender will accept a sale of a home for less than the full amount due on a mortgage, thus avoiding foreclosure.

“A short sale typically occurs when a homeowner can no longer afford the mortgage payments, subsequently contracts to sell the home for less than what is owed and presents the contract to the lender with hopes that the lender will accept the transaction and financial shortage,” says Jason Russo, Mortgage Loan Consultant with SunTrust Mortgage.

Small Business Real Estate - Owning vs. Leasing

2008-07-08T13:52:15Z

One of the biggest decisions a small business owner makes is the physical location of the business. From strip malls to stand-alone storefronts, office, warehouse and flex space, the decisions are infinite. One of the first is whether to purchase a business location or lease it.

Until now, a lease was often the default decision by many small business owners who have all they could handle with start-up costs and not enough leftover for a down-payment on a large mortgage. Additionally, many locations for sale don’t exactly fit the needs of a particular small business, either in amenities or size.

But now, business condos are coming to East/Southeast Orlando, allowing business owners to purchase an affordable location that perfectly suits their needs.

Homeowners Associations – To Have or Have Not

2007-07-04T14:35:59Z

Homeowners’ Associations are the product of the establishment of common interest residential developments. Since 1914, development builders have claimed that the imposition of deed restrictions protect property values.

Metro Orlando HBA Says Log On and Buy Now!

2007-07-04T14:35:09Z

The Home Builders Association of Metro Orlando (HBA) wants you to know that if you’re considering buying a new home in East Orlando, the time to act is right now. Favorable conditions exist in the areas of interest rates, inventory and incentives.