The Lake Mary / Heathrow Florida Real Estate Blog

Buy land?  You bet, now is the time to buy before herds of overseas investors buy.  Land offers protection against a bigger market downturn.  There are bargains out there now in real estate.  Overseas investors with U.S. dollars burning holes in their pockets will buy to diversify their portfolios away from U.S. Treasury bonds and to protect their holdings from any futher decline in the dollar. 

You can find some great bargains on land in the U.S. stock market as well as with local real estate agents who specialize in the arena.  Land also offers some downside protection in case stocks as a whole head further south.  Buy now, before these assets ahead of the herd of overseas investors that will discover this asset class, once the panic passes in the meltdown in the U.S. market for mortgage backed debt.

An increasing number of overseas investors are joining the global search for alternatives to dollar denominated investments, looking for real estate in Hong Kong and U.S ; Australian dollars; gold and silver and other commodities.  Overseas investors will realize that U.S. real estate is a great hedge against what they fear most, inflation in the United States.  As you know, an asset such as land goes up in value when inflation soars.

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One of the most prominent names in business Rockefeller will make a major play in Seminole
County investing $150 million on its new project.  The Rockefeller Group Development Corp. bought 29 acres on September 20th from Jeno Paulucci, who created the community of Heathrow.  $16.75 million was paid for the land at International Parkway north of Colonial Town Center in Heathrow.  They intend to develop an office/retail center.

Plans are not finalized, they anticipate to build 200,000 to 250,000 square feet of Class A office space, says John Petricola, Rockefeller’s regional director based in Florida.  The possibility of building a hotel on the site is in consideration as well.  Site work could begin by the fourth-quarter of 2008, with a completion date in 2010.

Heathrow has a major list of corporate tenants including AAA, Chase, Mitsubishi to name a few.Â

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An Alabama hotel developer plans to bring an upscale hotel to Heathrow!   Srinath Yedla, CEO of Yedla Management Co., will break ground in February on a Westin-brand luxury hotel at the northwest corner of County Road 46A and International Parkway.

The hotel will feature approximatly 250 rooms as well as Westin’s signature Heavenly Spa offering messages, manicures and full service unisex salon.  Yedla says, ” Price is not the driving force behind a business traveler’s choice of hotel as much as convenience and location”.  Plans aso call for a full service restaurant and sushi bar.

Yedla bought the 8.5 acre parcel on January 22nd for $9.4 million.  The land is on the Northwest corener of International Parkway across from the Marriott Lake Mary hotel.  The 299 room Marriott and 131 room Hampton Inn Suites serve the area from which Yedla aspires to draw customers.  The location is ideal near Interstate 4, State Road 417 and the Orlando Sanford International Airport.  Yedla is confident the area will continue to grow.

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A recent survey of more than 1,000 self-directed individual retirement account holders by Bellevue, Washington based Guidant Financial Group Inc. found real estate still considered a sound investment.  About 65 percent of those surveyed cited investment property as a top way to generate retirement savings, while 60 percent chose rental properties for the same.

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As you may already know, Money Magazine ranked Lake Mary as the Number 1 place to live in Florida and the fourth-best city to live in the nation.

Our town is a very safe and quiet town to live in.  To keep the crime from comming into the town of Lake Mary, the Guardian Angels leader, who identifies himself as Rhino, says they are forming a Lake Mary chapter to attempt to nip crime in the bud.  This is inspiring news for the homeowners of the sleeply bedroom community know as Lake Mary.  Residents are elated to see the angels forming a group here.  The residents want to keep Lake Mary a safe and low crime area as it is now.

Written by Karen Arbutine with Re/Max Central Realty

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It is sad but so very true, more homeowners today are facing foreclosure on their homes. It is happening to good people more and more each day. One of the primary problems contributing to the issues is; if you purchased a home in 2005 or 2006, chances are you owe more on our home than what it is worth today. After several months trying to attract a buyer, the typical seller falls behind paymnets and the forclosure process begins.

There is a much better solution to the problem which is a much better option. It is refered to as a “short sale”. This is the process where a negotiated settlement is made between the lender that holds the mortgage and the seller for a third party buyer usually facilitated by a professional such as a realtor or attorney. Many mortgage companies would rather sell the property for less than what is owed to them rather than going through the entire foreclosure process. Basically, it is a win win situation for both parties.

The mortgage company wins since they avoid the expense of the forclosure process. The seller wins because they avoid the negative stigma on their credit and they can continue to live in the home until the short sale process is complete. The buyers get a home at a great price.

There is no extra fees for the service to provide a short sale through a real estate agent. If you or someone you know is facing a forclosure, talk to a realtor perhaps about the details of your case.

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More good news for the greater Orlando area.  Our major airport Orlando International Airport Ranked Fourth for  best overall airports among United States airports.  The survey was conducted by Zagat Survey LLC which reviews restaurants as well as airlines and airports.

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Florida govenor Charlie Crist signed a historic deal with the Seminole Tribe Of Florida that could generate millions of dollars for the state while allowing Blackjack, Baccarat, and Vegas stlye slot machines at seven Indian casinos.

This agreement will give gamblers more options at the existing Indian casinos located throughout the state. Currently the only table games allowed in Florida are Texas Holdem Poker and Five Card Stud poker in addition to bingo style slots which really don’t provide good odds for winning however with Backjack and Baccarat coming soon to a casino near you, the odds in these games give the player a better chance of winning opposed to the favoring the “house.”

The Indian tribe will pay the state of Florida on average of $100 million per year with the new compact. This sounds like quite a bit of money but is only chump change compared to the billions and billions the tribe takes in at the seven casions here in Florida. 

So brush up on your blackjack skills and get ready to double down as we create gaming historty in the great state of Florida.¼/p>

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If you are a Floridian whose residence is a single-family, detached, site-built home you may be eligible for a free home wind safety inspection. If your home passes you could end up paying less on home insurance.

Central Florida homeowners are getting discounts without adding a thing to their home. The end of hurricane season this month could be the start of your savings.

The program is called My Safe Florida Home. The purpose of the program is to strengthen people’s homes, and make sure their insurance company is giving them the discounts they deserve.

Consumers can receive approximately $200 off insurance premiums all without having to make any repairs.

If your home doesn’t have the features that can get you a discount, the inspector’s report will recommend that you get them.

The state also offers a matching grant of up to $5,000 to help pay for your home improvements.

Not everyone is eligible to get a free wind inspection. To find out whether you qualify, click here to visit My Safe Florida Home’s Web site.

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