The impact of 60 Minutes – Leslie Stahl’s piece on the Real Estate Industry

It is no wonder Realtors have a bad image with the media beating us up yet again.  Last night we all watched the anticipated 60 Minutes piece by Leslie Stahl on the Real Estate Industry.   Basically it was a focus on how with rising home prices that the percentage that Realtors charge is out of line.  The fact is that commissions are negotiable was completely glossed over.  The fact that when we take a listing we take all the Risk and only get paid at closing was forgotten. 

First off Realtors are restricted by RESPA (Real Estate Settlement Procedures Act) laws not to discuss commissions — that can be considered price fixing.  So why is it that the media can discuss it openly when our hands are tied? 

What the 60 Minutes piece highlighted was that Realtors are just raking in the money for a few hours of work is not common.   To provide the service that you deserve there is a lot that goes into providing that service.  Five hours from start to finish is not possible.  Discount doesn’t always mean you get the best deal.  It just means that they reduce their fees – somewhere in the process they have to cut their services. 

Yes technology is changing things and the internet is changing how we do business.  Dramatic changes have happened in the Travel Industry and Book Selling.  But not all the changes have streamlined and consolidated.  Just see what has happened in the Art World.  Earlier this year we shared about just this.  How in the Art World Galleries are gaining in popularity in what should have eliminated them might be something to think about.  And Galleries charge Artists between 40-60% for the sale of art.   Colleen Kulikowski pointed out the most important reason you want to work with a Professional Realtor best:

"Because the artist knows how to maximize their time and put it to the highest and best use.  Artists trust the experienced professional — Gallery Owners to sell their work.  They know that what they pay is for the value added–expertise!  The Gallery owner is an expert at putting the artwork in front of the proper audience and thus selling it faster and for more money than if the artist did it themself."

What the Internet has done for us has given us the ability to give the homes we represent greater exposure.  Like the Art World, Real Estate is an extremely personal highly subjective business.  When making such significant purchases it is important to have the right professional assisting you through the process.  We are here for you.

Thought Provoking Video

A couple of weeks ago Teri Isner shared with the team here at Orlando Avenue Top Team that gave us a lot to think about – Shift Happens.  What this video shares is how life is change and how technology is affecting every aspect of our lives.  That the world is getting smaller and we are becoming a global community.  Each piece of information more fantastic than the one prior to it.

you think?  What are you going to do know that you know?

Mother’s Day is Sunday and we are sure that you haven’t forgotten, but just in case you need an idea here are a few ideas for you

Mother’s Day is Sunday and we are sure that you haven’t forgotten, but just in case you need an idea here are a few ideas for you:

• Send an ecard from Real Simple Magazine, BlueMountain Cards,  Funny Cards, American Greetings or 123greetings.com
• Gather together a picnic and take your Mom out instead of dealing with the crowds at popular restaurants.  There won’t be the pressure and you can sit back and enjoy time together… 
• Send Mom Flowers from 1800Flowers,  800 Florals or FlowersOnline
• Take your Mom to a double feature — remember them?  Two movies back to back and so much fun!  
• Mom tough to buy for?  How about giving her a gift certificate so she can choose her gift?  Check out Gift Certificates.com
• If you are in the Orlando area, take her to the Flower Power Concerts at Epcot’s International Flower & Garden Show.  Tony Orlando is performing Mother’s Day Weekend…
• Going to Mom’s house in Orlando for dinner?  How about stopping at the Celebration Florida Farmer’s Market before going to her house, and bring her a basket full of fresh fruits and vegetables…

When you want information about local or national real estate, it is important to know that a valuable resource is only a click away at or our team site www.OrlandoAvenue.com.   There you can find information about homes for sale, home buying & selling tips and other important factors that can affect the value of your home are just some of the features of our website. As a professional in the business of providing real estate information and services, it is our goal to earn your future business and that of your family and friends.

For the Orlando real estate market, spring is a busy time of the year.

For the Orlando real estate market, spring is a busy time of the year. People with children in the school system often like to get acclimated to a new neighborhood and have their children ready to start a new school year in August. These people often purchase in spring with an eye to a summer move-in.

In spring, many homes come  on the market. When you see a figure that shows an increase in home inventory for spring that’s usually so. Traditionally, that’s when inventory picks up.

I’m pleased to tell you that the Orlando real estate market remains in a healthy state. Even with an interest rate of over 6%, in February more than 2100 homes changed hands, a record-setting number for the month. 1580 of those were single family homes.

If you are selling your home, I cannot over-emphasize the importance of proper pricing. Too high a price encourages the buyer to look at another home. Too high a home price may not appraise. We are constantly monitoring the market and when we look at homes offered for sale that didn’t sell – usually they are overpriced.

As real estate professionals our job is to help empower you with knowledge. We will be glad to meet with you on your schedule – after hours and weekends are just fine!

An American Dream Come True!

The community of Celebration was designed by the Walt Disney Company, just on the doorstep of Walt Disney World Resort right here in Orlando Florida.  Celebration was designed by the best architects in the World, who studied a variety of urban development throughout the United States before designing Celebration’s plan. In typical Disney fashion there isn’t a detail that was missed.

Designed to look and feel like a southern town, pre-1940’s with a mixture of architectural styles including

• Craftsman
• Victorian
• French
• Classical
• Mediterranean
• Coastal

Front porches onto the street allow for people to interact with their neighbors and garages are tucked away behind the homes.  A planned community with residents first moving into Celebration in the fall of 1996. There is something here that appeals to everyone due to the strict guidelines set forth by Disney. It just feels familiar and so much like home. Broken up into villages, Celebration is a pedestrian friendly community with a mixture of single family homes, town homes and condominiums in a quaint setting. Each village has its own unique flavor.  The Villages of Celebration are:

• East Village
• North Village 
• South Village
• West Village
• Aquila Reserve
• Artisan Park
• Roseville Corner
• Lake Evalyn

• Championship 18 hole public golf course
• parks &  playgrounds
• 18 miles of walking trails with small lakes
• Community pools 
• Spaces to gather for social groups and Religious Organization

Downtown Market Street is situated on a lake and has businesses, hotel, restaurants, a town hall, and post office. The post office was designed by Michael Graves, to look like a farm silo in homage to what this land once was used for – farming. Each Sunday there is a farmers market on Market Street. There is even a movie theatre in Celebration!

• Celebration School Kindergarten-8
• Celebration High School
• Celebration Academy
• Stetson University

The entire town is connected via the Internet. There is a business park which at completion will have more than 1 million so of office space. A second shopping district named Water Tower Shops sits at the entrance of Celebration on Route 192.

If you would like more information about Celebration Florida, please feel free to call us today at (407) 467-5155 or visit us on the web at www.OrlandoAvenue.com

Get prepared for the next Florida hurricane season what to pack and the latest names for this season. Like the boyscout motto Be Prepared is a must.

For the start of this blog, I wanted to write about something we’re all concerned about and that’s hurricanes. There’s nothing like starting off with a bang! But also it gives you an idea how upfront the Orlando Avenue Top Team is with the facts. Teri Isner and The Orlando Avenue Top Team can help you with all your real estate needs.

The Atlantic Hurricane Season, which impacts the entire East Coast as well as the Gulf Coast , begins June 1^st and ends November 30^th. For this year, scientists at NOAA – the National Oceanic and Atmospheric Administration – is predicting an 80% chance of an above-normal hurricane season, a 15% chance of a near-normal season and a 5% chance of one that’s below normal. Here is a link to the National Hurricane Center Prediction Center.

To translate that another way, this year NOAA is predicting 13-16 named storms. Last month forecasters at Colorado State University issued a similar forecast, predicting up to 17 named storms. It is very good news, though, that this number is far below 2005’s record-setting 28 named storms.

Here in Central Florida new homes are built to withstand hurricane-force winds. The Orlando Avenue Top Team will be able to educate you on the codes builders are required to follow to withstand these winds and keep you safe inside your home. None-the-less, in the event evacuation is called for you should do as told. The Orlando Avenue Top Team can help you with all your real estate needs, but the object is always to be safe. Protection of life must always come before protection of property.  Be sure to have a family plan in place that everyone knows in case of an emergency.

The week of May 21^st-27^th has been designated as National Hurricane Preparedness Week. Many cities stage mock evacuations. It is important that you and your family always be prepared. The Red Cross suggests that you store enough water for at least 3 days. Water requirements are a gallon a person per day. They also suggest having a 3-day supply of non-perishable food items on hand such as peanut butter and crackers. 

Other items to be sure to have on hand are special-needs foods for infants and the elderly, prescription medication, a good first aid kit, flashlights, batteries, sanitary supplies, can openers, sunscreen, matches and candles, soap, latex gloves, diapers and formula for infants, treats such as lollipops for children.

In case you’re wondering, the first named storm for 2006 will be called Alberto. After that, we’ll have Beryl and Chris. Let’s be sure to enjoy our beautiful Central Florida weather, lakes and relaxing lifestyle. Be sure to call the Orlando Avenue Top Team for all your real estate needs.

Absorption Rate for April 2007

There is activity happening here in Celebration Florida and in the Greater Orlando area we are seeing signs of activity pickup.  The numbers below were gathered from the Mid Florida Multiple Listing Service.   Where there is no Sold in the prior month, the absorption rate cannot be calculated.

  Market Segment    # of Listing Active/Pending    # Sold Prior Month    Absorption Rate (in weeks)    Celebration – Single Family Homes – All                    205   8                   111.04                   Celebration – Single Family Homes – 1-2 Bedroom                       2   0       Celebration – Single Family Homes – 3-4 Bedrooms                    129   5                   111.80   Celebration – Single Family Homes 5+ Bedrooms                     74   3                   106.89                   Celebration – Single Family Artisan Park                     26   2                    56.33   Celebration – Single Family Roseville                       5   1                    21.67   Celebration – Single Family Aquila Rserve                       1   0       Celebration -Single Family Lake Evalyn                       5   0       Celebration – Single Family Celebration Village                     24   0       Celebration – Single Family North Village                     39   1                   169.00   Celebration – Single Family South Village                     39   1                   169.00   Celebration – Single Family West Village                       6   0       Celebration – Single Family East Village                     33   3                    47.67                   Celebration – Single Family No Pool                    145   6                   104.72   Celebration – Single Family Pool Home                     61   2                   132.17                          –         #DIV/0!   Celebration – Single Family Homes Less than $500,000                &n
bsp;    39
  1                   169.00   Celebration – Single Family Homes $500,000 – $1,000,000                     97   5                    84.07   Celebration – Single Family Homes Greater than $1,000,000                     64   2                   138.67                          –         #DIV/0!   Celebration – All Condos/Townhomes                    210   5                   182.00                          –         #DIV/0!   Celebration – 3 Bedroom Condos                     69   3                    99.67   Celebration – 2 Bedroom Condos                     92   2                   199.33   Celebration – 1 Bedroom Condos                     31   0                       Celebration – Mirasol                        9   0       Celebration – Sienna                     14   0       Celebraion – Artisan Park                     59   3                    85.22   Celebration – Carlyle                     14   0       Celebration – Georgetown                     49   1                   212.33   Celebration – Water Street                     22   0       Celebration – Terraces                     38   1                   164.67                   Celebration – Condos Less than $350,000                    107   4                   115.92   Celebration – Condos $350,000 – $500,000                     71   1                   307.67   Celebration – Condos $500,000 and greater                     32   0                    

Information about a 1031 Exchange and how you can save your dollars!

Many times when real estate investors come to me for advice and information we talk about he 1031 Tax Exchange. Under the U.S. Internal Revenue Code, this is an opportunity for some investors to defer capital gains taxes. For some investors it is an important investment strategy.

The name ‘1031 Tax Exchange’ refers to Section 1031 of the Internal Revenue code which allows exchanges of certain types of qualified property by owners of real property for other, like-kind property. The simplest of this kind of transaction is called a Simultaneous Exchange. It refers to the closing on the sale of a taxpayer’s property and the closing on the purchase of a like-kind property at the same time.

Another kind of 1031 Exchange is called a Delayed Exchange. As the name suggests, the Delayed Exchange occurs when the taxpayer’s replacement property (or properties) closes on a later date than the date of close of the relinquished property (or properties).

As long as the real estate property is held for use in a trade or business or for investment or income, it can be considered ‘like kind’ property and used in a 1031 Tax Exchange. The name of the taxpayer taking title to the replacement property must be the same as the name of the taxpayer who held the relinquished property.

Under this instrument, what is known as a Qualified Intermediary must be used by law. This is an independent third party who must meet (and not meet) certain qualifications.

The conditions and details of the 1031 Tax Exchange are strict. As a Real Estate professional I am able to tell you of this instrument and how it may benefit you. If you call me I will be glad to provide you with the names of companies who may further assist you and who may act as the Qualified Intermediary.

Orlando Buyers and Sellers | What motivates you?

Today on Good Morning America there was a segment on Freakonomics which the author was talking about the heard mentality and gave the example how he and his daughter used to go to a bus stop and wait several buses because it was so popular.  After weeks of waiting and then being squished on a packed bus he had an idea.  He walked a couple of blocks to the stop just before this popular stop and now he and his daughter get on the bus and get a seat when they used to have to wait for a bus and then stand for the ride.

What does this mean in Real Estate in the Orlando Florida area?  Are you following what everyone else is doing, part of the herd, or are you doing your own research and making decisions that are in your best interests?   Are you just blindly trusting the media, or are you taking their reports as part of your decision process?

Development in Osceola County takes shape.

Osceola Country is in the southern part of the greater Orlando area which consists of several counties. This is not a test! The names of the counties, starting up I-4 north are: Volusia, Lake, Seminole, Orange, Osceola and Polk. There is development in these counties but, so far, Osceola has remained pretty rural. In-between communities of great substance such as Celebration and Poinciana, there are huge areas of ranches and farmland. Driving, I often see cows.

Since the year 2000, though, over 78,000 acres of land have been sold. Over 53,000 acres of that land comes under the possibility of future development. The Orlando Sentinel reports that the more than 50,000 acres of land available for potential development could support 150,000 homes and 400,000 people. That means a lot more people! The population of Osceola County could potentially triple!

Of course this will take decades to happen. Sometimes it seems as if development occurs overnight but of course it does not! The salient question though is this: knowing that quality of life will be affected, how will leaders plan for the coming boom? Will there be traffic-heavy roads or urban-type clusters of shopping and entertainment close to home? Suburban sprawl or local town centers?

I am looking forward to watching all this building unfold. How about you? It seems an opportunity for our Orlando area to be in the forefront of a wonderful Florida market. I feel optimistic!