Get ready a 36 acre mixed use development that will include apartments, commercial space and 9 acres of up to 92 townhomes has been approved by Orlando city commissioners to begin on the fringes of Orlando's booming and popular Lake Nona community.
The homes are expected to be a high-end product similar to Lake Nona's neighborhood Laureate Park. Lake Nona is one of Orlando's top-selling communities even though it's average home sales price is almost twice the average Central Florida price of $360K.
The Lake Nona area is desirable for buyers because of the jobs supported by Orlando International Airport , nearby Amazon warehouse and access to Kissimmee and major connecting highways.
Townhomes are popular with a wide range of buyer. From first time homebuyers, families, and investors. The townhomes in Lake Nona in particular are hot because it gets you into the community with a smaller price tag than a single family home.
It looks like Brightline has taken one more steps toward its proposed Orlando-to-Tampa extension project.
The Miami-based rail firm met with several stakeholders in the last few weeks, Brightlines Exec VP of Infrastructure Michael Cegelis said the rail line currently has a July 31 deadline to negotiate the lease of right of way needed for the expansion to Tampa, which is needed for the project to proceed.
So far, the rail firm has met with Florida's Turnpike Enterprise and several Florida Department districts. Other meetings that are taking place are with the Greater Orlando Aviation Authority and the Central Florida Expressway concerning lease agreements.
Brightline has already presented two potential 17-mile routes, one which serves the Orlando International Airport to Disney Resorts. This route follows the State Road 417. The alternate route goes near Vineland Road and communicates with Universal Orlando Resorts and International Drive Resorts.
It's yet to be determined which route is in the best interest of Orlando county residents or will it come down to costs? Hmmm.....either way on a personal thought.... I sure hope it get's used more than our Sunrail system that runs through Orlando.
Brightline said they are targeting the full 85-mile extension from the Orlando airport to Tampa by roughly 2028-2029 but still don't really know just how much it's gonna cost.
The company is currently 52% complete on its $2.7 billion, 170-mile extension from West Palm Beach to the Orlando airport. Service is expected to start in 2023 after completion of the route by the end of 2022. We shall see :)
When you want to sell your house most owners hope for a quick transaction that will turn the most profit. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are just five reasons why this is the perfect time to sell your house.
In Orlando the buyer demand is strong right now. Locals are looking to get into the perfect community and people from out of state and abroad are flocking here. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year.
When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller.
“Nationally, the inventory of homes for sale in February decreased by 48.6% over the past year, a higher rate of decline compared to the 42.6% drop in January. This amounted to 496,000 fewer homes for sale compared to February of last year.”
The National Association of Realtors (NAR) also reveals that, while home sales are skyrocketing, the inventory of existing homes for sale is continuing to drop dramatically. Houses are essentially selling as fast as they’re hitting the market!
A seller will always negotiate the best deal when demand is high and supply is low. That’s exactly what’s happening in the Orlando real estate market today.
Clearly, many more people are interested in buying than selling this spring, creating the ultimate sellers’ market. When this happens, homeowners in a position to sell have the upper hand in negotiations.
The My Dream Home in Orlando team has seen a huge increase in bidding wars with the average of 4 offers per house! Demand is there, and now is the perfect time to sell for the most favorable terms.
According to the latest data from CoreLogic, as of the third quarter of 2020, the average homeowner gained $17,000 in equity over the past year, and that number continues to grow as home values appreciate. Equity is a type of forced savings that grows during your time as a homeowner and can be put toward bigger goals like buying your next dream home, downsizing or relocating.
Mark Fleming, Chief Economist at First American:
“As homeowners gain equity in their homes, they are more likely to consider using that equity to purchase a larger or more attractive home – the wealth effect of rising equity. In today’s housing market, fast rising demand against the limited supply of homes for sale has resulted in continued house price appreciation.”
So much has changed over the past year, including what many of us need in a home. Spending extra time where we currently live is enabling many of us to re-evaluate our home space and what we find most important in a home.
Whether it’s a house that has the features suited to working from home with space for home schooling, a home gym or theater, or something else, selling this spring gives you a chance to make a move and find the home of your dreams.
Today’s Orlando housing market belongs to the sellers. But, interest rates are still favorable for home buyers. Making a more expensive home easier to afford. If you’ve considered making a move but have been waiting for the right market conditions, your wait is over. Reach out to us and we can help you get into the best position to win when you sell your house this spring.
~TAVISTOCK AND DISNEY MEETING OF THE MINDS~
This would not be Disney's first Central Florida community. Remember when Disney developed the Celebration community near the Kissimmee Parks back in 1994? Disney has recently developed the Luxurious Golden Oak Community and has broken ground on the mixed use Flamingo Crossings Town Center off the 429, which will feature apartments, shopping, dining and four new hotels.
It looks like Disney is seeking to diversify its Orlando real estate portfolio beyond its parks, as this proposed Lake Nona community would be roughly 18 miles from Walt Disney World.
Tavistock Development is hands down one of the region’s most active developers and Disney is Orlando's largest employer, sounds like a match made in heaven!
This project in the talks would include residential, commercial and a large 8-story office building that is rumored to house the future relocation of the Disney's office divisions from California to Lake Nona.
It's truly not known what the size and scope of the Disney community would be within Lake Nona and who knows.... the deal may not happen.... but something like this would be huge!
A community like this will attract international and out-of-state buyers just because Disney is involved. One thing is for sure Orlando's residential real estate market is HOT and the buyers love these new master planned communities. Us locals need to get ready to embrace the growth...yes there will be more traffic, but think about the diversity and awesome new restaurants and shopping we will get. We do not know about you, but we are excited!
New places to eat in the area is great news for the thousands of restaurant workers who lost their jobs last year due to the economic impact of Covid-19. Metro Orlando alone lost more than 19,000 food service jobs from February 2020 to February 2021, according to the Florida Department of Economic Opportunity's most recent stats and an estimated10,000+ restaurants in Florida have closed, according to the state restaurant trade group.
A Dallas-based restaurant chain with a focus on chicken plans to enter the Florida market with several Orlando locations. Cowboy Chicken will open four local eateries in 2021 and 2022.
Locations haven't been 100% chosen yet but they are looking in Altamonte Springs, Kissimmee, the Waterford Lakes/Oviedo area and Winter Park. They are targeting to begin opening this August or September with the hopes of opening four locations with each location hiring roughly 35 employees.
Cowboy Chicken's menu includes rotisserie chicken, enchiladas and wings, along with sandwiches and bowls. Its sides include twice baked potatoes, Mexican street corn and corn fritters, and will feature a drive thru.
The restaurant chain has 17 locations listed on its website, including in Texas, Georgia, Oklahoma and Louisiana.
Looking for something fancier? Well get ready for the Nashville owned restaurants The Chef and I and Pasion to make it's way to the area. Both restaurants are slated to debut in just a few months at the chef-driven food hall called, The Hall on The Yard in Ivanhoe Village!
The Chef & I Nashville serves brunch items such as pan-roasted crispy duck and waffles, dinner options such as farm-raised elk tenderloin Charcuterie, desserts such as orange almond butter cake, as well as appetizers, cocktails and wine.
Meanwhile, Pasion will offer what is described as modernized Mexican, Puerto Rican and Cuban fare. The founders often travel through Latin America, where the project was born.
The Chef & I Nashville recently was named one of the “Top 100 Restaurants in the Country” by Yelp. It has been ranked in Trip Advisor’s “Top 5” Nashville Eateries for the last two years. The restaurant also was a winner in the Nashville Business Journal’s Best in Business Awards 2020.
WE CAN'T WAIT TO SUPPORT THESE NEW BUSINESSES AND TRY SOME NEW FOOD! Plus we are so excited for the job opportunities this will bring back to the Orlando area for our service industry workers.
Request a free estimate or consultation with RE/MAX Premier Properties today! We'll be happy to help every step of the way.