Real Estate Information | Page #21

Real Estate Information

There are many factors to consider when buying a second home, such as location, whether you need rental income and of course, how much it will cost. One of the decisions you’ll have to make as you start your vacation home search, is how big a home you need. 

There are a wide variety of housing choices to consider in the Orlando area for your vacation home. If you don’t need a lot of space, you could opt for a one or two bedroom condominium. There are several condo/hotels next to Disney that provide the amenities of a luxury hotel with the ability to rent the unit out when not in use. Properties like the Blue Heron Beach Resort or Floriday’s Resort provide on-site management that takes care of cleaning and maintenance, as well as all interactions with…

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May 'musings' from the Orlando resort area...

The number of homes available in the resort area was down 3% from April as 1955 were recorded as listed for sale. The only type of listing class that showed an increase was short sales which were up a net 3 from April at 34. Bank owned listings were down 20 month on month at 41 while normal owner listings fell 64 at 1955. The average days on market that a home took to sell was unchanged from last month at 130 whilst the average price achieved of a home that closed was down very slightly from last month at 96.6% from 96.7% in April. The average price of a home in our market was up 0.6% from last month at $171,500 and was 5.2% higher than the May 2015 figure of $162,956. During May the market saw 167 homes…

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Do you dream of owning a vacation home in Orlando? What’s holding you back from making those dreams a reality? Could it be that you find the idea a little too intimidating? Believe it or not, it’s actually easier than you may think. You just need to keep a few things in mind before you make the commitment. Here are some things to consider to help you analyze your options. 

1. Match housing choices to your lifestyle – Many people make the wrong assumption that you must own a primary residence before owning a vacation home. But that’s not a hard and fast rule you have to follow. The important thing to focus on is matching your housing choices to your lifestyle. 

Perhaps you live in a big city and want a lot of space that is just not affordable where you…

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The May Team Donovan community reports have now been updated and are available from the following link:

                                                                                Community Report

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Are you looking for a vacation property in Orlando to buy so you can generate rental income? If so, one of the best areas to consider is next to Walt Disney World.  Many of the communities located near Disney permit short-term rentals. And since most people who come to Orlando on vacation do so to visit the theme parks, you’ll likely have little trouble attracting holiday visitors to your property.

The city of Orlando has a variety of housing options available to home buyers, such as single-family homes, condos, townhomes and condo/hotels. But short-term rentals are only allowed in condos and townhomes. If you’re interested in a single-family home, you’d be better off looking for a property in the neighboring cities of Kissimmee, Haines City or…

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Buying a second home in Orlando is a decision that requires careful study of your finances to make sure this investment is one you can truly afford. Once you’ve committed to the idea, and have enough funds on hand for a down payment, you can explore ways to save money on closing costs for your vacation home.

Closing costs are the final fees a buyer pays before completing the purchase of a property. These fees are paid to third parties that assist with the mortgage, such as the lender, as well as optional ones, such as mortgage discount points and fees that must be paid to others parties for title/escrow and insurance. There are two types of closing costs – recurring and non-recurring costs.

Recurring costs that need to be paid more than once include:

…

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The April Team Donovan community reports have now been updated and are available from the following link:

                                                                                Community Report

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Are you thinking about buying a second home in Orlando? Investing in real estate can be both exciting and overwhelming. If you choose to rent your property out to holiday guests, that decision adds an element of stress too. 

The good news is that the vacation rental market has grown over the past few years, and the prospects for generating rental income have never been better. More and more vacationers are forgoing the traditional hotel stay in favor of renting luxury vacation homes. 

Here are a few common mistakes to be aware of so you can minimize your risk while maximizing your profits for your Orlando vacation home.

1. Not Sticking to a Plan and Budget – It’s important to do your homework before you make any offer on a property. Research the…

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Are you thinking about buying a second home in the Disney area to spend holidays with family and friends? An Orlando holiday home can be a great investment, especially when you purchase a property that’s zoned for short-term rentals. Then you can rent the home out to other vacationers when you are away. 

Buying a vacation home next to Disney means you will be responsible for expenses like taxes, insurance, utilities and maintenance fees. These bills can add up, but there are ways you can save money on the monthly expenses and put that cash back into your pocket. Here are a few examples: 

1. Lighting – When you’re renting out your holiday home, be aware that your guests may leave the lights on all the time, even when they’re busy spending the day at…

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March 'musings' from the Orlando resort area...

March closings across the resort area resulted in 281 homes changing hands which was 2 less than the March 2015 total but 36 above the 245 February 2016 closings. Overall inventory levels were down 2.1% from last month at 2010 active listings. By type normal owner listings were down 45 month on month at 1912 while short sales fell 2 at 35. Conversely bank owned inventory recorded a rise of 4 homes at 65. Year on year inventory levels have continued to rise with the overall March total up 11.2% from the same month last year. The median price of a resort area home was up 0.5% from last month at $169,893 and up 4.6% from the March 2015 median price of $162,118. The areas average days on market remained…

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