Baldwin Park, a traditional neighborhood development on 1,100 acres near Orlando’s thriving downtown, has won the 22nd Residential Environmental Award from the Florida Association of Realtors® (FAR). The award, popularly known as the ENVY, was presented recently at FAR’s 92nd annual Convention and Trade Expo in Lake Buena Vista, Fla.

2008 FAR President Chuck Bonfiglio noted that the ENVY Award recognizes the one residential development – Baldwin Park – that best preserves Florida’s natural quality of life. It has become a highly coveted award to win for builders of top-quality, environmentally responsible communities in the state. During FAR’s recent convention, Bonfiglio presented the award to John Classe, managing director of the Baldwin Park Development Company, and Barbara Koenig, senior vice president of New Broad Street Companies.

Judges cited this development for the efforts it has taken to preserve the area’s natural elements. Baldwin Park features more than 400 acres of open space, lakes and water resources, including 15 community parks – in fact, nearly 35 percent of the property is devoted to parks and lakes.

As a major infill project, Baldwin Park was praised for being designed to mitigate sprawl in the metro area, rather than add to the problem. Power supplies, water treatment plants and wastewater facilities were already in place, and the asphalt from old roads at the site was used to build new ones. Developers worked with Audubon of Florida to help plan the parks and water habitats, taking care to create viable ecosystems.

As part of the ENVY award criteria, a judging panel of planning professionals reviewed the development’s preservation of the land’s native flora and fauna, the blending of the community with its surrounding environment, common areas such as nature trails and playgrounds, family recreation and safety, streets, drainage, sanitation and marketability.

In seven years, the developers of Baldwin Park transformed an environmentally stressed site – the former Orlando Naval Training Center – into a thriving and sustainable greenfield community, one that has earned awards for its practices. As one judge put it: “Future developments in Florida should take cues from this project for its excellence in design, both functional and environmental, as to lessen their environmental footprint.”

Realtors throughout Florida commend Baldwin Park for demonstrating that high-quality, environmentally conscious development makes good business sense. For more information, visit http://www.baldwinparkfl.com/web/. Courtesy FloridaRealtors.org

Downtown residents are excited about new SoDo, a $100 million shopping area. SoDo for South of Downtown Orlando is now open and located Crystal Lkea and Grant off South Orange Ave. Super Target and TJ Maxx now opened, a fitness center, specialty shops, and restuarants soon to be open.

The time to buy is now with discounts on Orlando Home Prices. September sales up 37% compared to last September a sign the Orlando Housing Market is heading up. This article in the Orlando Sentinel indicates may its the bank properties feuling the pace. Bank properties are priced low in neighborhoods.

Our buyer agency office, Buyers Broker of Florida, has sold decent bank properties offering signifcant discounts compared to a few years ago. Here is some recent homes our buyers have contracted.

• Dr. Phillip pool home listed $540K, sold 1.5 years ago for $1.2 million
• Avalon Park pool home listed $250K, sold in 2005 $293K
• Oviedo 2 bedroom condos listed $100K, sold in 2006 for $220K
• Vacation Townhome listed $109K, sold 1.5 years ago $330K

If you are looking to buy Orlando Real Estate, the time is now. Despite what the media says about the economy people are still buying and lenders are still doing financing.

Orlando Regional Realtor Association has published Real Estate Statistics for September 2008 in Orlando Metro area.

• Average Interest Rate: 6%
• Inventory of Homes: 24,960
• New Listings: 4,099
• New Contracts: 1908
• Under Contract: 3,256
• Back on Market: 594
• Expired Listings: 1,683
• Withdrawn Listings: 1,578
• Sales Closed: 1,335
• Average Days on Market: 113

For historical view, please click here.

Next year Orange County will buy 200 foreclosed homes, renovate them, and resell them to moderate to low income buyers. With $28 million federal housing grant, they anticipate to buy and renovate a 1000 homes by 2013, in an effort to stablize neighborhoods. The neighborhoods target first is Pine Hills and Taft-Meadows area. Orange County is second in the State for number of foreclosure trailing behind Miami-Dade County. However, critics say this money is going back into the lending instituations that put buyers in these homes in the first place.Click here for more details.

Hundreds of Orlando-area homes listed for sale by Coldwell Banker Residential Real Estate will be discounted by as much as 10 percent to participate in a national sales campaign that kicks off Friday.

The first ever "Coldwell Banker 10-Day Sales Event" will run nationally through Oct. 19 and includes more than 2,000 properties in Florida listed by Coldwell Banker Residential Real Estate.

According to the company's senior Orlando executive, Lloyd Page, Coldwell's regional senior vice president in Central Florida, the real estate market is "near a crucial tipping point" and the sales event is designed to bring more buyers into the market.

The sales campaign will be supported by national, regional and local advertising and marketing, but reducing homes' asking prices is also a key way to motivate potential buyers, according to Coldwell Banker agents.

A recent survey of more than 3,300 Coldwell Banker agents nationwide found that 56 percent felt that listing prices in their markets remained above where they needed to be to attract qualified buyers. And 77 percent agreed that a majority of sellers in their market still had "unrealistic expectations" regarding the initial asking price of the home they were trying to sell.

A group of local residents is making a concerted effort to stop a development of more than 5,000 acres on ranch land located on the Polk County side of Poinciana.

'This is the right project at the wrong time in the wrong place,' Fernando Valverde, a Solivita resident and member of Concerned Poinciana Residents for Smart Growth, told The Reporter.
A West Palm Beach developer, Hatchineha Ranch, LLC, wants to build an adult community of nearly 5,000 single-family and multi-family homes on the property it owns on the west side of Lake Hatchineha. The plan also includes an 18-hole golf course and 80,000 square feet of commercial development on land that is currently a cattle ranch and hunting camp.

Valverde and his group opposes the plan because there is no infrastructure in place to support a development of that size.

Valverde made his argument before the Polk County Planning Commission on Sept. 8, saying, 'We are very concerned that the impact of the development on the Greater Poinciana area and its water needs, medical access needs, public facility needs, recreational and roadway needs have not been adequately addressed by the developer in his proposed plans.'

The citizens group presented petitions signed by more than 375 Poinciana residents opposing the development to the commission. In response, the commission voted 4-3 to recommend against the project. The Polk County commissioners, who have the final say on whether the development will be approved or denied, take up the matter at their Oct. 22 meeting in Bartow.
'Everybody sees the infrastructure problems,' County Commissioner Jean Reed told The Reporter last week.

In an article printed in The Ledger on Sept. 9, reporter Tom Palmer noted that traffic, utilities and the environment were primary concerns expressed by the planning commission in recommending against approval of the project.

Palmer pointed out that at buildout in 2021, the development would increase traffic in the area by nearly 20,000 vehicles a day on a two-lane road network, and that the site includes more than 2,100 acres of wetlands that are adjacent to the Allen D. Broussard Catfish Creek Preserve.
Two years ago, Reed had voted with the majority of the county commissioners in turning down a much smaller development project on the same property. Since then, the land has changed hands and the current owners have brought forth the proposal that, because of its size and designation as a development of regional impact, would require changes in the county's land-use plan.

Reed would not predict how she will vote on the new proposal, saying she will keep an open mind.

'I was really interested to see where the planning commission would go with it,' she said, adding that she wants to hear what the developer has to say in regard to the infrastructure questions.
Among the promises made by Hatchineha Ranch is an improvement of road intersections, along with the widening of Hatchineha Road as the project progresses.

Palmer also pointed out in his article that development plans include setting aside 72 percent of the site for habitat preservation.

Despite the lack of a recommendation for approval from the planning commission, Bob Whidden — whose company, R.J. Whidden, is the land planner for the developer — is confident the project will get final approval.

'This project will stand on its own merits,' he told The Reporter in a telephone interview.
Whidden said most of the complaints he heard from local residents have been about services they haven't been able to get, but will be available to those living in the new development if it goes into place.

When Poinciana was first conceived in 1969, he said, it was developed in a remote area and home buyers were able to purchase houses at low prices because of that. Now they are clamoring for services.

'They have a lack of facilities that they don't have because they bought at low prices,' Whidden said, adding that churches, schools, parks and commercial amenities raise the cost of developments and will be part of the Hatchineha Lakes project.

Poinciana, a sprawling community of more than 80,000 residents spread over two counties, has been struggling with traffic issues for several years as it has become one of the fastest growing developments in the area. That growth has been somewhat stunted by the current real-estate crisis. Still, the limited number of roads in and out of the community has been a major concern of residents and developers alike, because it is a bedroom community with a high number of commuters who travel to jobs outside of Poinciana.

One of the main arguments community activists have used in their efforts to get a hospital constructed in Poinciana has been the difficulty emergency vehicles have getting to and from the villages within Poinciana during peak traffic times because of congestion. Poinciana is made up of 10 villages.

Neighborhoods on the Polk County side remain without many commercial outlets, although as Poinciana has grown in population it has attracted a growing number of stores, banks and other commercial venues. Courtesy The Reporter 10/1/08.

Two Florida airports are ranked among the top ten in the United States by business travelers surveyed through CondDe Nast Traveler magazine.Tampa International Airport came in second and Orlando International Airport fifth in the magazine's annual business poll of airports, airlines and hotels.Tampa's airport received the highest marks for ease in making connections as well as comfort and design. It was topped only by Portland International Airport.The CondDe Nast readers surveyed all travel for business, with a quarter spending two more months away each year, according to the magazine. Courtesy of Orlando Sentinel. 9/29/08

If a first-time homebuyer purchases a home before the end of 2008, he or she gets a $7,500 tax credit in 2009 when they file their federal income taxes, but it must be paid back over time. Here’s how it works: The first-time homebuyer credit is similar to a 15-year interest-free loan to be repaid in 15 equal annual installments beginning with the second tax year after the credit is claimed as an additional tax on the taxpayer’s income tax return for that year. For example, if a buyer claims a $7,500 first-time homebuyer credit on his 2008 return, he’ll start paying it back on his 2010 tax return with $500 due each year from 2010 to 2024.

Some exceptions apply, however, including:
• If the taxpayer dies, remaining annual installments are not due. If a spouse dies, the remaining spouse must repay only his or her half.
• If the home stops being a primary residence, all remaining annual installments become due for taxes paid on the year that happens. There are special rules for involuntary conversions.
• If the home is sold, all remaining annual installments become due on the return for the year of sale. If there is no gain or if there is a loss on the sale, the remaining annual installments may be reduced or even eliminated.
• If ownership is transferred to a spouse or ex-spouse following divorce, the new owner becomes responsible for all subsequent installment payments.For more information on the tax credit, visit the IRS Web site at: http://www.irs.gov/newsroom/article/0,,id=186831,00.html

The high rollers are headed west in Metro Orlando.

More million-dollar homes were sold in Keene's Pointe in west Orange County during the first half of the year than in any other luxury community in the four-county area. An analysis of area Realtors' resales reports by ERA Williams Real Estate Group found that 16 of the 140 homes that sold for $1 million or more from January through June are in Keene's Pointe, a Castle & Cooke development near Windermere.

Average sales price: $1.49 million.

Alaqua Lakes in north Seminole County came in second with 11 sales topping a million dollars. But Isleworth, another west Orange community near Windermere, reported eight homes sold in the elite-luxury category -- with an average price of $4.5 million, tops for any development or neighborhood in Orange, Seminole, Osceola and Lake counties. And a dozen other homes worth more than $1 million sold in various other west Orange developments in the Top 10.

Overall, the survey found that Metro Orlando resales of million-dollar homes were down 39 percent compared with the first half of 2007, with 140 properties changing hands this year vs. 231 a year earlier, reflecting the nationwide housing slump and economic slowdown. But the average sale price was up a bit, $1.78 million vs. $1.71 million, and that was not because larger homes were selling, because the price on a square-foot basis was also up, to $346 from $343. Orlando Sentinel 9/23/08.

A survey by Maitland-based Charles Wayne Consulting Inc. shows that, from January through June, the busiest home builder in the Orlando area was Engle Homes, which closed on 210 single-family properties to lead all production builders in Orange, Seminole and Osceola counties.

That gave Engle Homes a 12.9 percent share of the Orlando market through the first half of the year. The company's homes sold for an average of $393,700, giving Engle $82.7 million in sales for the period.

Pulte Homes/Del Webb/DiVosta ranked second with 148 closings, or 9.1 percent of the three-county market, and $55.6 million in sales.

Lennar/U.S. Home was third with a 6.5 percent share consisting of 105 homes that sold for a combined $27.5 million. M/I Homes sold 99 homes, or 6.1 percent, for $38 million. Maronda Homes ranked fifth with 97 closings, 6 percent of the total, for $23.1 million. Rounding out the top 10: KB Home, Ryland Group, Park Square Homes, Centex/Fox & Jacobs Homes and Meritage Homes.

The highest average sale price was recorded by Centerline Homes, which sold 20 homes averaging $536,100 each. David Weekley Homes, was next highest, with a $482,400 average for the 48 it sold. The top 20 builders captured 89 percent of the total production market, the survey found, with 1,456 closings worth $484 million, or $332,300 apiece on average. All single-family production builders combined closed on 1,624 homes for $545 million, averaging $335,700. Custom-home sales were not included in the survey.

Buyers Broker of Florida has helped many home buyers find vacation homes, and hear are responses to a recently inquiry about the second home market.

1. What are some undervalued resort markets that might be a great place to buy a second home?


Florida (Disney area) is the hottest, with the absolute best buys. While everyone talks about the high number of foreclosures and short sales in Florida, the lions share is in the vacation sector. Inventory was over built in 2005-2006 with promises of unrealistic rental returns, and now the out of country investors are walking away from greatl properties while other out of country investors are picking up these properties for 50% off…most paying cash. Just had a client close on a $260K that someone paid $473K in 2006. Today had a bank accept a short sale for $220K in a community that new construction is still selling for $400K+.

2. What are some financial parameters to consider when buying a second home, i.e. when is it fiscally responsible?


Depends on the clients goals. If they are cash buyers than the unreliable income derived is usually enough to satisfy the investor. If they are financing, the reality is that they will be lucky to break even and there will be many times that they will be digging in their pocket to pay the overhead. As from mortgage payment expenses to consider, property manager, electric, water, pool and yard maintenance, and booking splits. If they want to use it as a personal second home for mini vacations throughout the year, then income is not as important.

3. Is it personal preference or does it make more sense to consider buying a condo rather than a single-family home as a second property?

Both. Some clients want less hassle so will go for a condo or condo-hotel that is loaded with amenities, concierge services and a real turnkey operation….or maybe they just cannot afford a desirable vacation single family home. Older or and poorly located vacations single family homes are difficult to rent or even find a vacation property management for. Ideally the most desirable vacation rentals are 6 or 7 bedroom homes close to Disney. If a buyer does not have the budget for it, they are better off in a smaller investment…buy better quality rather than bigger size.

4. Any other tips on buying a second home in this market would be great.


Be realistic, don’t expect a deeply discounted vacation home to come with all the appliances and top of the line furnishings…(someone has already stripped it). Go for the classiest community, in the closest location to the attractions. Don’t get emotionally vested in one property…make a bunch of offers and see what shakes out. Buy as new as possible, as those are the money makers. Consider setting up your own website, to generate additional bookings for maximum return on investment.

Plans for a movie theater in the heart of downtown Orlando, which seemed as dead as the local condo market in recent weeks, have new life once again.

The real-estate company that owns the retail space in the Plaza tower complex on Orange Avenue said Monday it has bought the parking garage from the bank that foreclosed on it last year and is now committed to completing the 12-screen multiplex on the second level of the Orange Avenue building.

The Plaza was local developer Cameron Kuhn's downtown centerpiece and the largest redevelopment project in city history, but it got caught in the real-estate downdraft earlier this year. Now Kuhn is out of the project, and California-based RP Realty Partners is the ongoing developer of both the retail and the movie-theater space.

Stuart Rubin, RP Realty's president and chief executive officer, said Monday he hopes to work out an agreement with the city of Orlando to complete the multiplex using both the original incentive package of $3.5 million and a $2.5 million city loan to be repaid from theater profits.If a deal can be worked out, he said, the theater could be open in time for this year's winter-holiday season.

Orlando Economic Development Director Frank Billingsley was not available Monday to comment on the company's proposal. City Hall spokeswoman Heather Allebaugh said it was "premature to comment on the feasibility" of the latest plan, but noted that the city has said all along it wants to see the project finished. "City staff looks forward to reviewing a formal proposal," she said.

Rubin said his privately held company, which is also a major owner of retail space in Baldwin Park in northeast Orlando, is in leasing discussions with a new theater operator. AMC Theatres canceled its operating contract earlier this year when it became clear the long-delayed theater was not going to be completed any time soon.

Kuhn, facing a number of lawsuits and financial hurdles brought on in part by the global credit squeeze and real-estate slump, was recently forced to auction off most of the remaining office space in his two Plaza office towers and turn control of the buildings over to their tenants.

Rubin said in a written statement that Kuhn "did not understand the challenges of building a theater." He said that's one reason Beverly Hills, Calif.-based RP Realty needs to restructure the city's tax-incentive package to complete the job."

We believe we will be able to demonstrate that one final investment in the Plaza will provide the push needed to ensure that the Plaza will be the landmark once envisioned by the city," Rubin said. Courtesy Orlando Sentinel 7/10/08.

On January 29th 2008 Florida voters approved amendment one which provided tax reform changes regarding property tax. Below is a synposis of those items.

• Tangible personal property tax exemption: Beginning in 2008, businesses and mobile home owners with tangible personal property accounts are now eligible for $25,000 exemption.
• Non-homestead assessment limitation: Beginning 2009, the assessed value for all non-homesteaded properties will be limited to a maximum annual assessment increase of 10%.
• Expanded homestead exemption: Starting in 2008, this provision increased the current $25,000 homestead exemption by an amount up to $25,000. Unlike the original $25,000 homestead exemption, this additional exemption is not applied against school board taxes. The estimated annual savings for homeowners is $240.
• Portability: Effective for 2008, the retroactive for those who sold or moved in 2007, this provision allows homeowners to transfer up to $500,000 of their Save Our Homes Assessment Limitation Benefit (capped/portable amount) to a new homestead.

For more detailed information regarding property tax, please visit Orange County Property Appraiser website.

Orlando Regional Realtor Association just released June statistics for Orlando Real Estate.

• Average Mortgage Rate: 6.35%
• Inventory of Homes: 24,575
• New listing: 4,189
• New Contractors: 2,031
• Under Contract: 3,329
• Back on Market: 535
• Expired: 1,739
• Withdrawn: 1,685
• Sales Closed: 1,443
• Average Days on Market: 123

Orlando Real Estate inventory has not grown in the past 3 months, showing that sign real estate market is slowing turning around. It is still a buyers market with good choices to select from. Click Here to view history.

Florida Insurance Commissioner Kevin McCarty signed off on plans to allow six insurance companies to take an additional 100,000 policies out of state-run insurer Citizens Property Insurance Corp. The state requires insurers seeking Citizens’ policies to have at least $5 million in start-up capital, and most of these new insurers have two or three times more than the required start-up capital. The new state-approved companies are: American Integrity, Argus Fire & Casualty, Avatar Property and Casualty, Homeowners Choice Property & Casualty, Magnolia, and Southern Oak.So far in 2008, Florida’s regulators have authorized the removal of 500,000 policies from Citizens, which still continues to experience significant growth. The state’s insurer of last resort currently has about 1.5 million policies, and remains the largest state-backed insurance company in the U.S. Massachusetts comes in second with only about 217,000 policies. FloridaRealtors.org

Across Central Florida, the number of delinquent taxpayers has increased 24 percent from last year. A record 110,000-plus property owners in Orange, Seminole, Osceola, Lake, Volusia and Brevard counties owe tax collectors more than $320 million. To put that figure in perspective, it's comparable to the total amount of taxes and fees collected by the city of Orlando in 2006. Please click here for full story and Central Florida Tax Certificate Auctions.

For last few months, Orlando Real Estate sales activity is picking up, and inventory finally decreasing, although many homes still left too be sold. Tampa is number one in Florida for sales activity. For those buyers still contemplating whether to buy now, it is the time to secure your home at these low prices, while it is still a buyers market. For more details, please click here for full story.

Village of Imagine was slated to be a master planned community with resort atmosphere in the area of Universal Blvd consisting of various types of housing, boutiques, retail, and resturants has now on hold. The Orlando Westin is a 4 star condo-hotel built for the first phase of the project is nearly sold out. The condo is in a great location near Orlando newest Convention Center. For full story, click here.

Orlando Regional Realtor Association April Statistics shows activity in sales and improvement not scene in prior months.

• Average Mortgage Rate: 5.77%
• Inventory: 25,436
• New Listings: 4,526
• New Contracts: 2,012
• Under Contracts: 2,853
• Back on the market: 422
• Expired: 1,621
• Withdrawn: 1,589
• Sales Closed: 1,147
• Average Days on Market: 121

For historical months, click here.

The leading residential real-estate company in Florida had its best sales month in the Orlando market in more than a year in April, a sign that the market may be edging into a long-awaited rebound For Full Story, click here.

As the Orlando Real Estate Market continues to be sluggish, auctioning homes is becoming more popular. Over 100 properties, valued over $20 million will be auctioned off on May 31, 2008 in Central Florida. These properties range from development land approved for 66 apartments, time shares, lake and beach front condos, and single family homes. For more information on this auction, please contact Buyers Broker of Florida or Email: Info@Orlando-BuyersAgent.com

Compass Bay has just reduced their
new construction townhome pricing by
$30,000-$40,000. 3 bedroom 3 baths townhomes starting at $157,900. This community is in a great location within 5 miles from Disney located Poinciana Blvd & East 192, with easy access to 3 major highways. This is a short term rental community, but units are not furnished. The home owners fees are the lowest around at $125.00 per month with a heated community pool and more. Contact Buyers Broker of Florida to view these properties or get more information on floor plans.

Compass Bay located within 5 miles from Disney is located in the heart of the vacation market. Spacious unit, with tile roofs give it a special touch. This new community is offering 3 bedroom 3 bath units ready for sale starting at great new construction pricing of $180,000 while 3 bedroom 2.5 baths unit with one car garage starting $212,000. This community has low home owners association fees with heated pool and more. You have the option of owning a second home, renting it out on a short term or long term basis. To learn more contact Buyers Broker of Florida.

More anecdotal evidence of an uptick in new home sales, and not just at the lower price range where many builders are now focusing: Orlando-based ABD Development President David Kohn said today that he has sold 25 homes averaging more than $600,000 apiece so far this year.

ABD is developer of Providence Golf & Country Club in Polk County, one of four communities where the company posted the healthier home sales during the first quarter. Some of the sales were made in Providence in the Loughman-Davenport area, Windsor Landing in the Orlando area and Toscana in Palm Coast, and visits to sales centers there have surged since the first of the year.

Kohn said other home builders at Providence have been reporting a similar rise in sales center traffic and new home sales. In addition to ABD Development, Greater Construction, Toll Brothers, Lennar and Inland Homes build new homes at Providence. He said ABD also sold three luxury town homes at Lakeside Villas in Providence that totaled almost $1 million. Courtesy Orlando Sentinel 4/19/08.