An Flamand, the owner and broker at Orlando Vacation Realty, helps buyers looking for a great home in Orlando.
ORLANDO — Owning a home in Central Florida, and marketing it as a short-term rental or vacation home, has been a profitable investment for many European buyers over the years.
The Orlando area is one of the world’s top tourist destinations, with theme parks, beaches and outdoor activities that attract millions of visitors each year. It’s no surprise that as the tourism industry has grown substantially in the years since Walt Disney first opened his famous theme park here, so has the vacation home industry.
In fact, Central Florida is one of the top destinations not only for tourists, but for short-term rentals as well.
In the counties closest to the theme parks — particularly Osceola and Polk counties — there are a growing number of vacation homes available on the market for the region’s visitors to stay in. Continue reading
Nick Churton, the managing director of Mayfair International Realty, is predicting the Brexit vote won’t hurt foreign investment in the U.S. housing market.
ORLANDO – Despite the uncertainty created by the Brexit vote, residents of Britain are unlikely to lose interest in the value of a second home in the Orlando area, said the director of one of the top real estate associations in London.
Nick Churton, the managing director of Mayfair International Realty, said Brexit won’t alter the desire to own a home – or to invest in a second home.
“Ambition or dreams of home ownership in other countries is not dictated by political or economic events. But they are affected by them,” he said.
Across Europe, people are still trying to figure out the long-term impact of a referendum in June to have the United Kingdom leave the European Union after 43 years. The referendum was approved by 52 percent of British voters.
Since then, the value of the British pound has taken a steep nosedive.
“Clearly the weaker pound against the dollar and Euro will mean that for a while at least, Brits will want to take stock,” Churton said in an interview with Freeline Media.
Churton added that these fears are not likely to last. Continue reading
New construction projects have been increasing in downtown Orlando,
ORLANDO – Once upon a time – say, about eight years ago, when Florida’s housing market went bust and the state’s foreclosure rate soared – it was difficult to sell newly built homes, and the construction industry went into a painful tailspin.
According to a new report by Metrostudy
, which does annual surveys of Central Florida’s housing market, the construction industry is undergoing a very healthy boom period. The boom is spreading across every county in the Orlando area.
Metrostudy’s First Quarter 2016 survey of the new home market in the Orlando area — which includes the counties of Lake, Orange, Osceola, and Seminole – shows that 3,096 single-family housing units started construction in the first quarter of this year. As the agency noted, that’s a 40 percent increase over the same period in the first three months of 2015. In fact, throughout 2015, the annual construction start rate for new homes increased by 24 percent, well below the 40 percent jump in the first three months of this year.
As the number of new homes being built increases, so do prices, the report noted. There were 2,968 new home starts for properties in the $250,000 to $299,000 range, which is up by 37 percent from the first quarter of 2015. On the other hand, the number of construction starts for homes in the price range of $150,000 to $199,000 actually dropped, from 713 to just 25. Continue reading