Karen Arbutine & Associates

June 2009 Blog Archive

Proposed Bill to list Vacant, Abandoned or Pre-Foreclosure Properties Fri, Jun 26, 2009 Abandoned and vacant homes are a burden in the Orlando area which ranks No. 7 in foreclosures nationwide as of 2008.  These homes are extremely run down, lacking curb appeal and have low values which effect the surrounding home values in the neighbor... Read More

Construction of $10 million Debary Stormwater Project Starting in July Fri, Jun 26, 2009 A $10 million dollar project designed to ease flooding problems in the city of Debary will begin construction in early July.  $7.5 million  is being funded by Federal Emergency Management Agency (FEMA).  The work will cease the flooding problems for ... Read More

Businesses Go Green during these Challenging Economic Times Fri, Jun 26, 2009 Businesses are looking for more ways to positively impact their bottom lines and energy efficiency is a quick, easy and environmentally friendly way to manage energy use and save money. Indoor lighting upgrades can save up to 40 percent on lightin... Read More

Bella Collina Country Club Offers Non-Owner Memberships Fri, Jun 26, 2009 The private high-end country club, Bella Collina community in Lake County is offering invitational memberships to non-property owners to join its upscale golf and country club.  The initiation fees for the invitation-only memberships range from $2,50... Read More

Orlando Sanford Airport Receives Federal Grant Funding Wed, Jun 24, 2009 Orlando Sanford International Airport, the second-busiest general aviation airport in the Southeast, is receiving federal grant funding for more than $9.2 million.  The funding will be used for runway improvement and expansion projects.  $1 million w... Read More

Residential Real Estate Sales Rise Wed, Jun 24, 2009 As residential real estate sales are rising, the luxury home market has declined due to the higher interest rates on jumbo mortgages.  The jumbo rates are as high as 8 percent and a conventional 30-year, fixed rate mortgage is below 5 percent.  Jumbo... Read More

Foreign Investors Buying Into U.S. Real Estate Wed, Jun 24, 2009 The renewd strength of the dollar against the Euro has returned overseas money to the U.S. from investors taking advantage of the real estate market.  This is providing opportunity for commercial real estate brokers. Investors were staying clear f... Read More

Market Conditions are Perfect for Home Buyers Mon, Jun 22, 2009 Warm weather and April flowers is great for selling a home.  Historically, the number of homes for sale across the nation increases every April.   The sales of existing homes and construction spending were up in April.  The bidding wars are emerging ... Read More

Construction for a 40-acre Sports Complex in Lake County to Start this Year Mon, Jun 22, 2009 Woodlea Sports Complex is coming to the city of Tavares located in Lake County, FL.  The 40-acre, $13 million sports complex could create a more than $10 million econonomic impact.  The complex is to be built on Woodlea Road near Lake Harris and incl... Read More

It's Hurricane Season....The Real Estate Market Does Not Need A Storm Mon, Jun 22, 2009 It's hurricane season in Florida once again and with the abundance of neglected and empty forclosed properties it could mean a huge problem.  No one has ever gone through a storm with so much empty property.  Keeping the property in good repair is th... Read More

Decline in State Tax Revenue Delays Local Road Projects Thu, Jun 18, 2009 About $2.1 billion in road projects statewide are being deferred or cut  from the work programs.  About twenty-one local road projects worth approximately $170 million have been deferred or cut from the state Department of Transportation's five year ... Read More

Magic's NBA Finals Result in Financial Benefit Thu, Jun 18, 2009 The Orlando Magic's postseason games to the NBA Finals helped erase as much as $6million from the team's $15 million to $20 million operating loss for the season.  Making a 30% reduction  in loss.  The team recently lined up a $100 million loan to he... Read More

Orlando is Top on Affordability List Thu, Jun 18, 2009 Median prced homes are dropping and making Orlando a record high of 192% in the affordability index as of March 2009.   This statistic is loring employers to relocate or expand their operations in the Orlando area.  A 99% affordability index means th... Read More

Signs of Recovery: New Home Construction Up 17.2% Tue, Jun 16, 2009 According to a report from the Census Bureau, the nation’s builders production in May is up 17.2%. Building permits have also seen an increase of 4%. This is a sure sign that the real estate market and the economy general is starting to recover. The ... Read More

Warning: Chinese Drywall Tue, Jun 09, 2009 OVERVIEW: Due to a shortage of US manufactured drywall between 2004 and 2007, many builders were forced to buy drywall imported from China. The "Chinese drywall" has been linked to seeping sulfide gases that can corrode electrical wiring and componen... Read More

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