Home Buying in 33837>Question Details

Ted, Home Buyer in Overseas

I am thinking of buying an investment holiday home in the orlando area. Is now a good time to buy?

Asked by Ted, Overseas Tue Sep 9, 2008

there seem to be so many bank owned properties in the orlando holiday rental market. Some that are 100% marked down. Is this a good mid term investment option (5 years)? What about the long term investment option? There might not be as much capital growth but at least it is a solid income in somewhere like Dundedin.

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Answers

8
Hi Ted,

Great question and we get asked this a lot. In all honesty, the prices have increased in most vacation rental and non vacation rental communities since last year but only by about 1-2%. There is less inventory and more people trying to buy the same homes so you have to be ready to come in with stronger offers than last year. It's very competitive. For those that can persevere through it, you will get an incredible property and if you implement a good five year plan you should see a decent return on your investment. I recommend watching this quick video blurb on the vacation rental market in Orlando: http://www.youtube.com/watch?v=iHbU0dOTNPE
0 votes Thank Flag Link Mon May 3, 2010
It is always fun to take a look at old questions like this and see who really gave good answers. Clearly Sept of 2008 was a TERRIBLE time to buy. Prices continued to plunge for another year. Kudos to Erica for her honest read of the situation at that time.

FLASH FORWARD to April 2010 -- NOW really is a good time to buy. The prices of holiday homes are going up and prices are so low it is actually possible to pay cash or get a mortgage small enough so that you really can cover 100% of your costs.

There are great values available at places like, Caribe Cove, Lake Berkley, Terra Verde, Windsor Hills, Emerald Island, Regal Palms, Highland Reserve to name but a few.

Mark LeMenager
Find your next house with the click of a mouse.
Search the MLS without obligation or registration from my website.
0 votes Thank Flag Link Mon Apr 19, 2010
Yes! Now is a GREAT time to buy! I am an investor myself and am buying up as much real estate as possible right now. However, in stead of the middle of the Floridian peninsula (i.e. Orlando), I prefer the beaches of the beautiful east coast. Feel free to take a look at some amazing properties here at http://www.PalaceProperties.org. I would be happy to assist you with your investment portfolio.

Best,
Mark Palace, CEO/Founder
Palace Properties International, Inc.
http://www.PalaceProperties.org
321.441.3512
0 votes Thank Flag Link Wed Sep 10, 2008
Now is a great time to buy. Don't just take my word on it. Here I've provided a link to a local newspaper article. Judge for yourself. If I can help you can reach me at http://www.floridamoves.com/john.peralta
0 votes Thank Flag Link Wed Sep 10, 2008
Ted:

This is an excellent time to buy. Prices are beginning to hold in some of the traditionally strong communities near the Theme Parks. Resort homes sales, short term vacation homes and townhouses are a great investment. Communities like Emerald Island, Terra Verde, Solana, Wyndham and Windsor Palms are at all time lows, some below original sale prices. All this communities are within a 5 to 15 minute drive to Disney, 25 minutes from Orange County Convention Center (2nd largest in the nation).

You could get a fully tiled 3/2.5 with den and pool for $159K . Resort townhomes for even less. We have over 200 foreclosures available at this time.

Let me know a few more details of what you are looking for and I will gladly sent you active listings to review.

Tony.Vega@coldwellbanker.com
0 votes Thank Flag Link Wed Sep 10, 2008
Ted,
Orlando is still reeling from the effects of our real estate downturn and it is our opinion that the softness in the Orlando market will continue for the next few years. Orlando was over built, to many investors and to many transit people. Then the parks got involved offering their own version of "investment" real estate with more and more time shares and in some cases actual property opportunities. We do believe than Orland is a good place to invest...in the right places and at the right prices. You really have to understand the negotiation game, be patient and wait for the right deals. Also you need to fully understand the property management companies in Orlando. We would love to help you just as we have helped a dozen other people this year from overseas with property in Orlando.
You can email me at terry@marianschaffer.com. I am Marian's partner and cover Orlando.
Hope to hear from you.
The Schaffer Realty Group
http://www.marianschafferrealty.com
0 votes Thank Flag Link Wed Sep 10, 2008
Yes. If you have cash or god credit, YES.
Carol Ann Sargeant
CarolAnn@H-MRealty.com
Web Reference: http://www.h-mrealty.com
0 votes Thank Flag Link Wed Sep 10, 2008
Ted,

You bet....There is plenty to choose from, sellers are motivated and ready to make deals, and with the Fannie and Freddie take-over and anticipated interest rate decline in the next month, this is the time to find your home and be ready to make the move.....

There is every indication that we are finally on the way out of this "correction". The next 12 months should prove to be very interesting for the markets that will lead the way. High interest markets will shine as soon as the beginning of the year while others may lag a bit.

We would be very happy to assist you with specific area information or refer you to a top real estate professional.

Good luck,
The "Eckler Team"
Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Wed Sep 10, 2008
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