Central Florida’s Ritz-Carlton Residences

Rumor has it that Marriott International is planning something big for Central Florida.

The international resort company is planning to build its Ritz-Carlton Residences right here in Orlando. The luxury home product will be located on the southwest corner of Central Florida and John Young parkways, within the Ritz-Carlton Grande Lakes resort property. the undeveloped piece of land currently serves as overflow parking for The Ritz-Carlton and J.W. Marriott hotels.

The new project is leading the project with local firms such as project developer Unicorp National Developments and architect firm Jones Clayton Construction. EDSA is serving as the landscape architect and Kimley-Horn is civil engineer. Plans show 37 single-family homes on the site, with two-bedroom and four-bedroom options ranging from 2,688 square feet to more than 3,200 square feet. Each home is expected to have its own two-car garage and two driveway parking spaces. Only three of the homes will stand alone, while the remaining 34 will share a wall as 17 duplex buildings.

The The Ritz-Carlton Residences branding has been applied to six luxury home projects in Florida, totaling 30 across the United States. Each community is expected to be under The Ritz-Carlton hotel company management, featuring exquisite concierge services, in-residence dining and other unique services and amenities. The Orlando development is expected to have a gated clubhouse and swimming pool.

More info to come.

Overprice or Underprice – What is better???

pricetagThere is an art to pricing a property appropriately.  You want to get the most money for the sellers as possible but not price it out of the market.  A really attractive price will certainly draw lots of attention, but you do not want the sellers to leave money on the table either.  It can really take a lot of thought to come up with the just the right number.  Some people use the argument that underpricing a property can cause a bidding war and drive the price upwards.  I usually lean in the exact opposite direction.  I tend to think that overpricing properties, just a little bit, actually brings in greater revenue for my sellers.

As it turns out, I am not the only one who has drawn this conclusion.  Florida Realtors recently put out an article that agrees.  According to data published in the May issue of the Journal of Economic Behavior & Organization, new research suggests that pricing a property 10-20% under market value actually netted the sellers less money.  Often times it did cause a bidding war but not enough of one to make up the substantial difference caused by underpricing it initially.  On the other end overpricing the property by around 10-20% did net the sellers a slight gain.  The study also indicated that when buyers were presented with a slightly higher purchase price they often looked for positive attributes to justify the price.   The same was true on the other end.  When the price was lower, they wondered what was wrong with the property.

Of course, there are many factors to consider when pricing a property for sale.  One of them is the timeframe in which the seller needs to sell.  You don’t want to be priced too high if you need to move your property quickly, and long market times increase the sellers’ carrying costs which eat in to their profit.  The long of the short is that you need an aggressive, knowledgeable professional to price it for you.

A Nectar Real Estate professional is always ready to help you with your real estate needs.  Feel free contact us any time!

New Construction Without the Long Wait

Who doesn’t want something shiny and brand new? Everyone, of course! Real estate is no different. People love the idea of being the first homeowner in a property, of having a home warranty to fall back on from the builder, and the ease of a move-in ready property. Often times the only drawback to new construction can be the long build times.

One of the best options for people wanting new construction but needing to be in something by a certain time is Inventory Homes. These are homes that the builder already has under construction when you visit the development. Sometimes they are homes that the original buyer has decided not to purchase but more often they are just started by the builder to keep up with demand. What is nice about these is that they are already underway, have been permitted, and will not take the typical 5-6 months to complete. You can almost always still pick the finishes and colors, and sometimes you can negotiate the price a little bit. The builder wants them sold as soon as they are finished, so they have incentive to move them.

Just a few miles from Celebration is an area called Champions Gate. It has some very nice hotels including the Omni Orlando Resort at Champions Gate and the Reunion Grande, and multiple championship golf courses. It is a great place to live, own a vacation home, or purchase property for investment income. Lennar Homes is currently constructing a neighborhood there called Stoneybrook at Champions Gate, and they have homes ranging in price from $255,000 to $373,000 and 1880 sq feet to 4259 sq feet. They have recently reduced some of their inventory homes, and there are multiple floor plans to chose from with completion dates between August and October 2013.

Here are all of the amazing amenities at Stoneybrook at Champions Gate:

Aerobics Studio

Community Center
Fitness Center
Fully Maintained Lawns
Golf Course
Splash Park
Sport Court
Swimming Pool
Tennis Court
Tot Lot
Volleyball Court

Plaza, Spa, Restaurant, Bar, Fitness Center, Tiki Bar, Cabanas, Tennis Club, Tennis Clubhouse, Stadium Court, (6) Tennis Courts, Golf Club, Golf Clubhouse Grill, Locker Rooms, Golf Shop, The Oasis, Resort-Style Pools, Family Pool, Lazy River, Water Slides, Swim-Up Bar, Water Falls, Beach Entry, Spa, Splash Pad, Grill, Bar, Fitness Area, Theater, Game Room, Tiki Bar, Cabanas, Performance Area, Trolley.  So much to do and you’re only a fewmiles Walt Disney World!

We have assisted so many clients with new construction contracts and been their liaison throughout the process. If this is something you are interested in, please don’t hesitate to contact us today!  Also if you are looking for new construction in another area of Central Florida, email me to get a list of what is available in your area.Champions GateStoneybrook at Champions GateStoneybrook at Champions Gate

Nectar Real Estate Now on Pinterest

Nectar Real Estate has joined the Pinterest community. Pinterest is a great platform for sharing and organizing ideas about real estate, homes, decorating, products, and even events. Browsing pinboards is a wonderful way for people to visualize the lifestyle and local events going on here in Central Florida. We have been pinning real estate around the world, decorating tips and projects, local community events, products we love, and things that inspire us. We have also enabled our website to allow you to pin properties directly from it, so if you find a particular property pin-worthy, you can add it to one of your boards.

You can follow us on Pinterest here. Happy Pinning!

Florida International Beer Festival

One of this weekend’s prime events is the 19th Annual Florida International Beer Festival. Located in downtown Orlando at Heritage Square Park, the festival will feature over 100 different brews from around the world paired with food from local eateries. The festival will also include lots of live entertainment and local bands. The event takes place tomorrow, May 19, from 4pm-8pm.

Advance general admission tickets can be purchased at Chico’s Dirty Tacos and Tequila, Harp & Celt Restaurant and Irish Pub, Petty’s Meats, Mellow Mushroom and Friendly Confines Sports Restaurant. Tickets at the gate are $35.

For more information, click here.

Osceola County’s Star Spangled Celebration

On Saturday May 12, Shingle Creek Reserve will host an environmental and historical event that coincides with the 125th anniversary of Osceola County. The event celebrates Shingle Creek park with a “Walk Back in Time”.

There will be encounters with pioneers and Native Americans for history buffs and no cost canoe rides guided by boy scouts that will give boaters a rare opportunity to see the headwaters of the Everglades. For kids, there will be pony rides, a cupcake bar, face painting, and free hot dogs.

The event will kick off at 10 a.m. on May 12 with multiple venues including: the new Visitor’s Welcome Center, 4155 West Vine Street, Kissimmee; historic Babb Landing, 2491 Babb Road, Kissimmee; the Osceola Historical Society’s Pioneer Village & Museum, 750 North Bass Road, Kissimmee; and Wat Florida Dhammaram Buddhist Temple, 2421 Old Vineland Road, Kissimmee. Due to the nature of the event and limited parking at some sites, shuttle buses are planned to run visitors from one venue to another throughout the day.

This is a great opportunity to explore some Central Florida heritage!

Orlando Inventory is the Lowest in Years

Of course, I spend a lot of my time keeping up with real estate news both here in Central Florida and across the country, so I often read articles that post market statistics. Whenever I see something particularly exciting or interesting, I try to pass it along. Today Inman News posted an article with some great news from Realtor.com.

Realtor.com tracks a number of market conditions and trends, and they found that, for the period of March 2011 to March 2012, promising changes had occurred. The inventory in the 146 metro areas that they track has decreased, there is fresher inventory available, and the median sales price has increased. All of this is great news!!!

Most importantly to note for us here in Central Florida is that the Greater Orlando area was #9 on their list of “Top Ten Metros with Greatest Drop on For-Sale Inventory”. The inventory of homes on the market has decreased 39% in the past year. That is an amazing number, and that statistic included all types of residential property (condos, townhouses, single-family homes, and co-ops). The Spring and Summer buying seasons are looking good.

For home sellers who have been on the fence, now you can list your home and not feel like there is too much competition. Also prices have stabilized and started to trend upward as supply depletes and demand increases. If you need to sell your current property, take advantage of these favorable market conditions.

If you are ready to discuss the sale of your home, we would love to talk to you. Contact a Nectar agent today!

New Publix Grocery Store Coming to Celebration

Well for those of you who live here in the area, I am a little bit behind in broadcasting this development. For many of you though who live out of the state or the country, I wanted to fill you in on a wonderful piece of news for the Celebration community.

We have a beautiful community here that has wonderful residents, a quaint downtown area full of restaurants and shops, great schools, well-maintained parks and trails, a golf course, and much more. For many years though we have been lacking one major thing, a grocery store.  Currently residents venture out of town to do their grocery shopping, and although the current Publix is not too far away, it is not convenient to everyone. We have a very walkable and bike-friendly community and many people also drive small electric vehicles, called NEV’s. The addition of a Publix at Water Tower Plaza in Celebration will allow better ease of use for our residents as well bring more traffic to the other businesses nearby.

The new Publix is already well underway and they anticipate opening by the end of the year. Check back for pictures of the constructions and more news on the progress.

9th Annual Exotic Car Show

You can almost hear the sounds of engines already. The Exotic Car Show is one of the most anticipated events of the year here in Celebration, FL, and the buzz surrounding this event has been going on for several weeks now. The 9th Annual Exotic Car Show will take place next weekend, April 14-15.

This 4 day event showcases North America’s largest collection of exotic cars, race cars, and Hollywood movie cars, and they all come together this one weekend a year to help support children with life-threatening illnesses. On Saturday the 14th, the Councours of Exotic Cars will be in downtown Celebration. You can see walk through the pretty downtown area and see Bugatti, Ferrari, Maserati, Aston Martin, Spyder, Lamborghini, Saleen, McLaren, DeLorean, and many more. The cars will be judged in different categories and the winners will be announced in the afternoon.  On Sunday, the Rally starts at 10:30am and will conclude back on Market Street at 1pm, where many of the cars will displayed for the rest of the day.

For more information about this and other Celebration events, click here.

5 Major Areas of Home Maintenance

I know that the task of maintaining your home and all of the little projects that come with that can be overwhelming at times. We often think to ourselves – “When will I ever have time for that?” Well the major items (also the items most expensive to replace) can be maintained relatively easily and won’t take up too much of your time, but maybe you just don’t where to start.

Most home maintenance can be done annually, and you should concentrate on the following 5 areas/items:
*Roof Maintenance (including gutters and downspouts)
*Sealing Exterior Cracks
*A Furnace & Air Conditioning Inspection
*A Drainage System Inspection

I can tell you from experience that these are the items that home inspectors spend the most time on, and the damage caused by long term neglect can be extremely costly. You can mark these items on your calendar and make sure they get attended to every year. Another key ingredient of good home maintenance is to repair any critical issues as soon as you notice them in order to keep further damage from occurring.

Lastly, you should have a list of good contractors in your area to go to for some of your routine maintenance as well as when you have a repair issue arise. If you have recently moved to a new area, ask your Realtor and neighbors for their recommendations.  Once you have your contact list, setting up most of your maintenance will just take you the time to place a few phone calls.

Spending a little money every year to make sure your home stays in tip top shape is less costly than the repairs you would have to do if you neglected it, and it’s a good way to keep your investment looking its best inside and out.