Market Conditions in 32832>Question Details

Rrose29, Both Buyer and Seller in 32832

I am buying a home in eagle creek community near lake nona. What are the long range property forecasts for?

Asked by Rrose29, 32832 Thu Aug 27, 2009

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9
Hi Buyer and Seller,

Congratulations and selling your home and buying in Eagle Creek.

The long term prospects for Eagle Creek are outstanding. It's a quality development with location, location, location. Accross the street from the new High School that just opened (which serves grades 6 to 12 until the nearby middle school is built). The main entrance connects straight into the new road being built now that will give you about a 3 to 5 minute drive to the new Medical City. Far enough away from the airport so that plane noise is not an issue at all, but close enough so you could be in the airport in 20 minutes. A couple minutes drive and you're on Orlando's expressway system, but again far enough away that traffic noise will never be an issue.

Marty is right, the place was over hyped to investors in 2004 and 2005. Many of whom bought hoping for a quick flip that never happened. That shows in the sorry condition of too many yards right now, but that creates a great opportunity for today's home buyer.

There have been 34 closings so far this year and another 43 sales are pending. 31 of properties had a contact within 30 days of listing. Compare that to today's inventory of 42 homes on the market.

Anyone wanting to take advantage of the growth that's coming as the new Medical City rises out of the ground will find Eagle Creek's location very hard to beat. Yes there are other great communities nearby, but only Village Walk is physically closer to the Medical City.

So, if you are willing to put up with the problem of some unsightly yards until the distressed inventory is cleared, you will find Eagle Creek an excellent long term investment.

Enjoy your new home,
Mark LeMenager
Weichert, Realtors - Hallmark Properties
1 vote Thank Flag Link Fri Aug 28, 2009
Hi Rrose29,

The Lake Nona corridor as previously stated is positioned for rapid growth due to the medical facilities that will be completed over the next few years bringing a more solid economic base to the area and an above average income demographic. 32832 zip code was somewhat overbuilt during the past 4-5 years, bought in large measure by many speculators, accounting for the large number of bank owned and short sales. Now is an excellent time to purchase as prices have decreased precipitiously. I am sure you shopped around prior to purchasing. However, relatively speaking, Eagle Creek had a higher percentage of investors and 2nd home owners than many other adjacent communities and was in my opinion, dramatically overpriced when new. If it is not too late, you may want to consider some other nearby opportunities as well.

If you are not presently working with an agent, please feel free to contact me for additional information and real estate assistance.

Sincerely,

Marty Kaiser
Broker/Associate
South Orlando Specialist
marty@floridasells.com
407-595-9700
Keller Williams Realty
Web Reference: http://www.floridasells.com
1 vote Thank Flag Link Thu Aug 27, 2009
Do not miss the Osceola Pkwy Extension proposed through the southern tip of Eagle Creek which is a 6 lane high way extention: http://www.osceola-parkway.com/project-map.html
0 votes Thank Flag Link Wed May 28, 2014
Well if D Rose bought in Eagle Creek five years ago, the value of his or her home has gone up by leaps and bounds. My clients who bought in 2010 are looking at 50% appreciation.
0 votes Thank Flag Link Mon May 5, 2014
Lake Nona is a hot area right now and there are a lot of plans for future development. The location is excellent and as we all know in Real Estate , location is the number one priority when looking at value. Eagle Creek is a golf community, and it has a number of amenities. If that appeals to you check out the homes for yourself. if you are working with a buyer's agent they will help you with inspections and market values.
0 votes Thank Flag Link Sat May 3, 2014
don't buy in eagle creek. the homes are built cheap and they won't stand behind the quality. I bought there and i wish i went somewhere else. I paid to much for a cheap house
0 votes Thank Flag Link Fri May 2, 2014
There are homes from five different builders in Eagle Creek. Who built yours?
Flag Mon May 5, 2014
For a very detailed statistics of your home in Eagle Creek, I encourage you to sign up at http://www.LakeNonaMarketconditions.com your will receive a weekly market update, statistics, home for sales, home sold etc.
Is the best way to have updated information in your area.
Web Reference: http://www.nonaforsale.com
0 votes Thank Flag Link Sat Apr 24, 2010
Rrose,

In general as Real Estate professionals we have been advised by our associations and industry forecasters that if you plan on staying in your home more than 5 years a home purchase in the Orlando area may be a great investment right now. However, Real estate is very location oriented and you may find some neighborhoods a better investment than others.

Here are a list of some things you may want to look at for future value of a home in "any" neighborhood;

Location to employment centers and shopping centers, the number of distressed homes or short sale /foreclosures and bank owned in the area now and immediate future, schools, taxes, homeowner association costs and if the association is solvent, congestion, roads, traffic concerns, crime statistics and finally just take a drive thru the community and look at it in the morning, mid day and evening to observe the sense of community and it's residents at play. In this case of Eagle Creek, visit the golf club house and note any concerrns of condition or lack of upkeep and speak to some of the members or talk with the pro shop employees. You would be surprised what you can find out just having lunch at the club house.

I have sold homes in Eagle Creek. There are some very great homes in the community. I could not comment on the property value forcasts unless I did the same due diligence that I have suggested above. Certainly as a Realtor I have access to the listings, solds and percentage of distress properties in any area or neighborhood of interest to a Buyer. As a Buyers agent that would be some of the research I would provide my customer.

For more specific help or if you have additional concerns or if you require Buyer representation, I will leave my contact information here for your convenience. I would be glad to provide more specifics about this community or others of interest or links to try and help answer some of your queries/concerns.

Regards,

Gay Middleton
Realtor**Moving You in the Right Direction
gaymiddleton@orlandohomeresales.com
407.493.3699
Web Reference: http://www.gaymiddleton.com
0 votes Thank Flag Link Fri Aug 28, 2009
Hello Rrose29,

There is huge growth predicted for the Lake Nona area with the new, world class Medical complex (some facilities already completed, some still under construction) which will bring some 30,000 new high paying jobs to that area. This couldn't be a better time to buy as you can most likely look forward to increased property values in the near future. Eagle Creek is a great newer golf community, check out this website: http://www.eaglecreekcommunity.com

If you do not already have Realtor representation, please contact me and I will be happy to assist you with your home purchase.

Thank you for your inquiry.

Suzanne Ogden, Realtor
Charles Rutenberg Realty
(407) 234-1098
sogden2@cfl.rr.com
Web Reference: http://www.suzanneogden.com
0 votes Thank Flag Link Thu Aug 27, 2009
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