Home Prices in Florida on the Rise

Home Prices in Florida on the Rise

September 29, 2013 by · Leave a Comment 

Florida Housing Prices Continue to Grow

For all you optimistic investors out there, the housing market in Florida showed significant improvement during the month of August. Closed sales increased, median home prices have risen, there are more sales pending, and a nice reserve of homes available for sale. The data, which was released by Florida Realtor’s, could help build consumer confidence for 2014.

Compared to last year, closed sales on existing single-family homes in Brevard County rose by about 11.5 percent, while median prices of the homes sold grew by 13 percent to $130,000. What’s more, these rising numbers are being overshadowed by market reports from South Florida, where increases have been closer to 25 percent in the last year.

Let’s Break Down these Numbers

Just to be clear, the median price is the middle point where half the homes sold for more, and half for less. Leading analysts for the housing industry also noted that sales (in particular all cash sales) of foreclosures and others being advertised for sale by their mortgagee are keeping the median price of homes lower, since they tend to sell at a discounted price below market value.

New Construction In Colonial Town

New Construction In Colonial Town

July 22, 2013 by · Leave a Comment 

Here is our latest new construction project located in  the Colonial town area of Orlando. This home took under 120 days from start to finish. We were able to keep the old driveway and their was an old block building in the back with a caved in roof. We used part of that building to build guest house and garage. The main home was rebuilt from it’s original 1100 sqft to a brand new 1530 sqft home. The main house has 3 bedrooms and 2 full bathrooms. The guest house has  1 bedroom, 1 bathroom and 560 sqft. This property is currently listed at $349,900.

Front house.

 

 

 

 

 

 

 

Deck.

 

 

 

 

 

 

 

Side.

 

 

 

 

 

 

 

Main house living area.

 

 

 

 

 

 

 

Dining area.

 

 

 

 

 

 

 

Hall.

Downtown New Construction. 10/17 Update (Pics)

Downtown New Construction. 10/17 Update (Pics)

June 26, 2013 by · Leave a Comment 

Our downtown home is now moving along. Here are some pics of our progress. This home will have 5 bedrooms, 3 full bath rooms, 2 car garage and 2650 total living area. We should be done in about 45 more days. More updates to come.

Stem wall.

Flooring decking.

 

 

 

 

 

 

Interior walls.

Second floor framing.

 

 

 

 

 

 

 

Setting the trusses.

Ready for dry in.

 

 

 

 

 

 

 

Dry in complete and roof installed.

 

 

 

 

 

 

Ready for siding.

 

 

 

 

 

 

 

 

 

Finished front.

front3 (600 x 400)

 

 

 

 

 

 

Check out more pictures of the interior on our Remodeled homes for sale page.

 

 

Newman Property Before And After Pics

Newman Property Before And After Pics

June 23, 2013 by · 4 Comments 

Here is another downtown property rehabbed and pending in 4 days. This home was purchased at $150,000 and sold for $349,900. The rehab included turning this 2 bed room and 1 bath home into a 3 bed room, 2 1/2 bath home. This home had attic space with very low ceilings, so we tore out the drop ceiling, added spray foam insulation and raised ceiling. This gave the attic high ceilings and helped define the lines of the home. Now their is bonus space, lot’s of storage, a nice sized bedroom and a full bath. This 2110 sqft home was re-framed downstairs to open up floor plan and increase master size. We also created a master bathroom and a half bath for guests.

Front before.

 

 

 

 

 

 

 

Front after.

 

 

 

 

 

 

 

Front after.

Front garage.

 

 

 

 

 

 

 

Living room before.

 

 

 

 

 

Close Out Deal On Hard Wood Flooring $2.50 per sqft (click for pics)

April 17, 2013 by · Leave a Comment 

We recently bought over 40,000 sqft of wood flooring with The Laminate Factory. We have it priced at $2.50 per sqft, it original sold for $6.50 per sqft. I used this same wood in my Twin Oaks house that I recently sold in Oviedo and it looked amazing. I am also using in the 4 houses I am doing right now. This wood can be refinished up to 3 times and has 25 year finish warranty and lifetime structural warranty. If interested you can check it out at The Laminate Factory, 804 E. Altamonte dr (436), Altamonte Springs 32701. Ask for Mac 407-276-1191

 

625 Woodward St, Orlando Fl 32803 – New Construction (Click)

April 14, 2013 by · Leave a Comment 

New construction to be complete by 7/1/2013. This custom home will have 5 bedrooms, 3 full baths, 2 car garage and have 2568 sqft under air. This property was originally going to be rehabbed until it became more cost effective to rebuild. Our plans are being submitted this week and hopefully a permit will follow soon after. The price for this home is $449,900.

 

47 E. Yale St, Orlando Fl 32804 (College Park) $399,900

47 E. Yale St, Orlando Fl 32804 (College Park) $399,900

February 24, 2013 by · Leave a Comment 

Stunning and completely new, this charming bungalow is in the heart of College Park.    The entry doubles as a porch perfect for relaxing and enjoying the view.  The formal living areas are beautifully finished with oak hardwood flooring.  The stacked stone fireplace adds comfort and charm to the formal living room.  The kitchen is a chefs dream with kitchen aid stainless steel appliances, exotic granite countertops, stone flooring, custom made cabinetry, and a designer sink.  An open arrangement of the family room and kitchen takes in the natural light through the battery of windows, with French doors opening onto the bricked patio, creating an inviting place for guests to gather.  The master bedroom is a private retreat complete with spa like master bath adorned with stone flooring, a garden tub, double designer sinks, custom cabinetry and a huge walk-in closet.  Secondary bedrooms and baths are immaculate.  Extra enhancements include new double paned low E windows, crown molding, new insulation, Samsung washer and dryer, and more… Call Mike Calvert for more info 407-702-4900

Oviedo Rehab Finished And Sold (Pics)

Oviedo Rehab Finished And Sold (Pics)

February 17, 2013 by · Leave a Comment 

Here is our latest flip to close. We bought this home in Oviedo for 145k and sold in just over 90 days for 300k. We had a buyer a month before we finished rehab, another flip without needing the MLS. This home also appraised at 312k. I had a few buyers that I tried to wholesale this to tell me that 280k is the max ARV. Not only did appraise for a lot more, it was also a easy home to sell. We had several people want the home after we had it under contract.

Exterior before (Click on pics to make bigger)

 

 

 

 

 

The rear of the home had a lot of wood rot. We ended up siding the whole house for under 10k.

 

 

 

 

 

Here are some after pics of the front. We also replaced a lot of the deck and railing.

Kitchen before

 

 

 

 

 

 

 

 

 

 

Downtown Orlando Flip Located On Concord St (Finished)

Downtown Orlando Flip Located On Concord St (Finished)

January 13, 2013 by · Leave a Comment 

Here is our latest flip in the downtown Orlando historic district. This home was 900 sqft when we purchased it and we increased the size to 2350sqft. The original 2/1 is now a 4/2 and completely updated.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

College Park Flip With Addition All Complete

College Park Flip With Addition All Complete

November 26, 2012 by · 3 Comments 

Here is one of our latest Orlando Florida flips. This home is located in the college park area of Orlando. When we bought this home it was a 2 bedroom, one bath home that was only 900sqft. We built an addition on the back making a 3 bedroom, 2.5 bath and increased the size to 1860sqft.

 

 

 

 

 

 

 

 

 

 

 

Below you can see we added a front porch and changed the elevation of the home. The garage has been converted back to its original use and we added a paver driveway.

 

 

 

 

 

 

 

 

Here is the back of the home before the addition.

 

 

 

 

 

 

 

 

 

 

 

The floor joist and trusses. We built the addition to match the existing structure.

 

 

 

 

 

 

 

 

 

 

Historic Concord Home In Downtown Orlando

Historic Concord Home In Downtown Orlando

September 10, 2012 by · Leave a Comment 

Here is an update on one of our latest investment properties that we are flipping down town Orlando. This home is located in the historic district so it has been a slow process of getting things approved and inspected. This home was 1100sqft when we bought it and we tore an old addition off the back. The new addition is over 1200sqft bringing the new square footage to over 22oosqft. The first picture below shows the old addition demo.

Here is a picture of the slab before we poured it.

The slab here is poured. It doesn’t look that big from this picture but once your inside it does.

 

 

 

 

 

 

 

 

 

 

 

Day 1 of the framing.

 

 

 

 

 

 

 

 

 

 

 

Here is day 3 of framing.

 

 

 

 

 

 

 

 

 

 

Maitland Flip Finished (In And Out In 61 Days) Video

June 25, 2012 by · Leave a Comment 

Here is our latest flip purchased on 4/12/2012 and sold on 6/13/2012. Only 61 days from start to finish and everything went smooth except the appraisal. When we bought this home we wanted to sell for 175k and instead listed it at 195k. The good news was we had buyers lined up at 195k. The bad news is the home only appraised at 184k. This flip still turned out very good in the end and we have moved on to new projects. The market for flipping this year has been very good on the sell side and finding the good deals has become more difficult. If you see a good deal don’t hestitate because chances are someone else will jump on it.

Marcia Dr Flipped In Under 90 Day’s (Video)

April 9, 2012 by · Leave a Comment 

Our Marcia dr flip has sold and turned out to be a solid flip. We purchased this home less than 3 months ago and had 3 full price offers within a few day’s on market. This home was purchased at $53,000 and sold at $119,000. We had right at 30k in the rehab and profitted 27k. This was another home we had wholesale for almost a month and no takers.

Buy, fix and flipped in 55 day’s

Buy, fix and flipped in 55 day’s

March 29, 2012 by · Leave a Comment 

The Winter Springs flip on Evergreen has sold and went extremely well except for the appraisal. The home was only on the market 2 day’s and I recieved a full price offer ($99,000). We left the home on the market a couple more day’s and recieved 2 more full price back up offers, then we marked it pending. The first apprasal was for more than asking and the second came in at $95,000. I recieved the bad news a couple day’s before closing and was assured it would close on time at the lower appraised price. I went ahead and took it. I still made out good on this house that nobody wanted. This property was on our site for a month at 55k and no takers. Here is how the deal worked out for me:

Purchase – $53,000.00

Closing cost buy – $3,214.45

Hard money payments – $1,469.76

Rehab – $14,414.95

Closing cost sell – $5,306.25

Total cost – $77,405.41

Sale price – $95,000

Profit – $17,594.59

 

 

Is Real Estate For You?

January 12, 2012 by · Leave a Comment 

For many years now, plenty of people that are wealthy have gotten that way through investing inreal estate.Real estate investments are one of the things that can bring ongoing financial profits every month. When it increases in value, your investment becomes that much more important and profitable. You can get your money’s worth when the value of your real estate investment increases. However, people that are interested in real estate investment need to know that it is more than just making money. There are many things you need to consider if you are interested in investing in real estate, in particular residential real estate. There is no doubt that you can be very wealthy with this. However, you will have to stay in it for the long haul in order to make it work for you.

FHA UPDATE-Anti Flipping Extended

December 23, 2011 by · 1 Comment 

It is now official, FHA has extended the Waiver of Anti-Flipping Regulations through December 31, 2012.  

 This extension will continue to allow borrowers to use FHA-insured financing for the purchase of properties that have been owned by the seller for less than 90-days, meeting the same conditions as previously permitted by FHA.

  • In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the Waiver will only apply if the lender meets specific conditions and documents the justification for the increase in value. This typically means a second appraisal and home inspection.

This is great because it still encouranges investors to buy homes and fix them up creating more inventory that is fixed up and can be closed on without doing a short sale.

Why Real Estate May Be the Only Real Mainstay Market

December 13, 2011 by · Leave a Comment 

While you see businesses come to life, peak and fall, you may be thinking if a business of real estate is worth investing in. Would if the same thing happens to this business. You wouldn’t want to invest in something that won’t be substantial. Unlike other businesses, real estate is always a good investment to make, and may be the only real mainstay market.

Even though the real estate market rises and falls, there are still many benefits to being in real estate. You can expect that if something happens that causes the real estate to lower, it will eventually come back up. There is always a need for housing and people are always moving into different locations. No matter what type of real estate you are investing in, you can expect that someone will have the need to live on the property. Because real estate is part of the basic needs of individuals, it can be expected that someone will always be looking, and others will always be selling.

Pinecrest Home Downtown Orlando Is Complete

December 12, 2011 by · Leave a Comment 


Here is a look at our Pinecrest flip that we just completed in downtown Orlando. This flip took over 60 days because of permitting the back garage conversion. The new apartment in the back is now on its own separate water, power and has its own address. This apartment has its own living, kitchen, bedroom and full bathroom. This space could also be used as a professional office as it is zoned. The main changes in the front home were the entrances to the bathroom. Before you had to go through bedrooms to get to bathroom. We took out the closet in bedroom 2 and cut a new entrance. Then we closed off the 2 other entrances and built a new closet using part of the back porch. We also replaced the windows, refinished the existing floors, new trim, doors, brand new kitchen, brand new layout for bathroom, changed the exterior look of the home, new stucco finish and paint. We now have this home listed at $225,000.

Wholesale Property In Conway Area Finished (Video)

October 27, 2011 by · Leave a Comment 

Here is one of our latest flips in the conway area located in Orlando Florida. We purchased this bank owned foreclosure for $70,600 and sold for $149,900. This flip was only on the market one day and closed on time. We updated everything inside, doubled the size of the master bath, cleaned up the pool and replaced the A/C system. Both conway homes we rehabbed in the last couple months sold really fast and near full asking price. For us the conway area has been just as hot as the downtown Orlando area and college park. We have 3 of our current flips under contract now and the market seems to be very stable right now for flipping homes. Our other 3 homes under contract are located in Winter Park (Miller ave), Downtown Orlando (Pinecrest) and Casselberry (Coldwater). Check out our wholesale properties and give us a call. We are a full service investment company that can take you from start to finish.

The Mead dr Flip Is All Done (Check Out The Video)

September 29, 2011 by · Leave a Comment 

Here is the before and after video of our latest flip in Oviedo Florida. This home was an estate sale purchase that we bought from another local wholesaler. This flip took about 1 month to complete and $30,000 to complete. Check out the video to see the tranformation.

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