Friday, December 31, 2010
Home Buyers Seminar
Free home buyer seminar will be held January 29th Saturday from 1:00 - 4:00 pm at The VUE in downtown Orlando. Free valet parking, food, prizes, speakers and preview The VUE condominiums starting at $167,000. Learn to get the most for your money. Investors, first time home buyers and vacation home buyers are welcomed. RSVP by calling 407-956-6220 or e-mail to TomSonger@TomSonger.com. Seats are limited to the first 100 people. So please reserve you seat today.
Thursday, December 16, 2010
95 Condo's For Sale In Downtown 12/16/10
The cheapest condo for sale is offered at $41,500 in Lucerne Oaks Condominiums. It's a 1/1 with 636 square feet and built in 1971. To the most expensive unit in downtown Orlando a
Spectacular 2 story corner Modern Manhattan Loft style penthouse commandingly sited atop the highest floors of the" Solaire at the Plaza" in Downtown Orlando. Phenomenal finishes abound in this 5400SqFt penthouse. Every detail of this magnificent one of a kind PH is perfectly executed with dazzling views of Central Florida. Sun-flooded double-height space windows, 6 balconies plus private walk out terrace off second story. Large master suite with service bar, enormous bath and walk in closet. Custom kitchen with all the bells and whistles, separate kitchen with private entrance for catering staff, meditation/flex space room, custom bar, large guest bedrooms with floor to glass windows. Metal wire and wood staircase leads to 30th floor loft with spectacular views through 24 foot glass wall. Penthouse offers amazing space for entertaining and large parties. Offered at $2.495,000...
REDC
REDC auctions can be a great source of business for primary residence buyers and also investors. I specialize in working with investors so this blog is going to be focused around that.
I recently represented a group of investors at REDC. We made a bid on a beautiful house in a cookie cutter neighborhood in East Orlando called Deerwood Run and won. We won the bid at $68k. This house would EASILY sell for over 100k, with multiple offers without breaking a sweat. The owner of this house was Fannie Mae. Some have told me they've gotten around an issue I'm about to write about, but some, like us, have been a little stuck and currently looking for a way around it. Per contract, FM won't let us sell the house more than $80k within the first 90 days. Yes, if we sold it for 80k, we'd still pocket 10k or so, but why not sell it for 100k and pocket 30k+? This is just a small hurdle we're looking to overcome. WHEN, not if, but WHEN we find the solution, I will post it right here.
Sunday, December 5, 2010
Open House Today
OPEN HOUSE 1-4 pm 12/5 Colonialtown downtown 1-4 pm 3/2 pool corner lot home with over 1900 sq ft split plan. Hugh opportunity. REO bank owned. $179,900
Friday, December 3, 2010
DOWNTOWN ORLANDO NEIGHBORHOODS
UPTOWN NORTH ORANGE
Uptown North Orange is a unique and identifiable community that mixes medium to high intensity office and employment uses with residential uses to create a self-sustaining neighborhood...
EOLA HEIGHTS
Eola Heights is a historic neighborhood located within the heart of Downtown Orlando. Shady, tree-lined streets cover this residential area just blocks from Lake Eola Park and the hub of Downtown...
THORNTON PARK
If you're looking to unwind you can find real relief in the brick-lined streets of Thornton Park, the City's most stylish district. Just east of Lake Eola in Downtown's green heart, the residential neighborhood is home to street after street of oak-shaded bungalows...
SOUTH EOLA DISTRICT
Whether you're looking for a unique shopping, dining or entertainment experience - or a little of all three - The South Eola District has it all. With Lake Eola Park at its center the South Eola District is home to numerous events...
LAKE CHEROKEE HISTORIC DISTRICT
Designated in 1981, Lake Cherokee Historic District contains approximately 160 historic structures, primarily residences dating back to 1870’s. General boundaries are East-West Expressway on the north, Orange Avenue on the west, Cherokee Drive and Gore Street on the south and Summerlin Avenue on the east. This area is primarily residential...
HOLDEN / PARRAMORE
The Parramore Heritage Community is a diverse area of residential neighborhoods, businesses and industry west of the Downtown Orlando core. Parramore is the historic home of Orlando’s African-American community, and it is on the cusp of a new surge of growth as a diverse and vibrant Downtown area...
CENTRAL BUSINESS DISTRICT
The business core of Downtown Orlando, the Central Business District consists of theaters, galleries, museums and parks connected by public transit and accentuated by art and cultural elements that attract people of all ages. The Central Business District's thriving retail and office market serve to foster daytime commerce, while entertainment and sporting events are ongoing and evenings are filled with dining and culture that help to illuminate the nighttime atmosphere.
UPTOWN NORTH ORANGE
Uptown North Orange is a unique and identifiable community that mixes medium to high intensity office and employment uses with residential uses to create a self-sustaining neighborhood...
EOLA HEIGHTS
Eola Heights is a historic neighborhood located within the heart of Downtown Orlando. Shady, tree-lined streets cover this residential area just blocks from Lake Eola Park and the hub of Downtown...
THORNTON PARK
If you're looking to unwind you can find real relief in the brick-lined streets of Thornton Park, the City's most stylish district. Just east of Lake Eola in Downtown's green heart, the residential neighborhood is home to street after street of oak-shaded bungalows...
SOUTH EOLA DISTRICT
Whether you're looking for a unique shopping, dining or entertainment experience - or a little of all three - The South Eola District has it all. With Lake Eola Park at its center the South Eola District is home to numerous events...
LAKE CHEROKEE HISTORIC DISTRICT
Designated in 1981, Lake Cherokee Historic District contains approximately 160 historic structures, primarily residences dating back to 1870’s. General boundaries are East-West Expressway on the north, Orange Avenue on the west, Cherokee Drive and Gore Street on the south and Summerlin Avenue on the east. This area is primarily residential...
HOLDEN / PARRAMORE
The Parramore Heritage Community is a diverse area of residential neighborhoods, businesses and industry west of the Downtown Orlando core. Parramore is the historic home of Orlando’s African-American community, and it is on the cusp of a new surge of growth as a diverse and vibrant Downtown area...
CENTRAL BUSINESS DISTRICT
The business core of Downtown Orlando, the Central Business District consists of theaters, galleries, museums and parks connected by public transit and accentuated by art and cultural elements that attract people of all ages. The Central Business District's thriving retail and office market serve to foster daytime commerce, while entertainment and sporting events are ongoing and evenings are filled with dining and culture that help to illuminate the nighttime atmosphere.
Thursday, December 2, 2010
Tax Benefits of Homeownership
The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here’s how it works.
Assume:
$9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest)
$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
______
$12,577 = Total deduction
Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56
$3,521.56 = Amount you have lowered your federal income tax (at 28 percent
The tax deductions you’re eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here’s how it works.
Assume:
$9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest)
$2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)
______
$12,577 = Total deduction
Then, multiply your total deduction by your tax rate.
For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56
$3,521.56 = Amount you have lowered your federal income tax (at 28 percent
7 Reasons to Own Your Home
With all the uncertainty of the market going on, many home buyers are on the fence wondering "what are the benefits to buying a home?" In the following breakdown curtosy of Realtor.org, it'll outline just a few of the many benefits there are to owning rather than renting.
1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.
Wednesday, December 1, 2010
Orlando Jam
Only $5 gets you into Wall Street Plaza or the Social for 10 local bands and 2 national headliners!
Wall Street Plaza Main Stage Line Up includes: American Bang, The Whitey Tighties, Jonnie Morgan Band, James Boyd Band and Heroine.
For more information, please visit www.wallstplaza.net.
Wall Street Plaza Main Stage Line Up includes: American Bang, The Whitey Tighties, Jonnie Morgan Band, James Boyd Band and Heroine.
For more information, please visit www.wallstplaza.net.
Waverly
This is the living room view of a condo we're about to list @ The Waverly in Downtown Orlando. Breathtaking isn't it?
Friday, November 26, 2010
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