The Petridis Home Team - Real Estate Market Reports

Welcome to The Petridis Home Team - Real Estate Market Reports.  We will be updating the posts regularly and post the Market Update and Snapshot Reports for our most popular communities.  We also have available the Market Report by Community of Active, Pending(Under Contract), and Sold homes for the last six months.  We can email you these reports on a monthly basis so you can keep track of your house value as the market continues to heat up.  

Come back and visit our blog often to get new material and content to help you with your Real Estate needs.  We are here to assist you and guide you through the Real Estate Process.  Feel free to set up a search and save it so you can get daily, weekly or monthly updates.  

We will also post useful articles and timely information for Buyers and Sellers.  You will find this site very useful and easy to use, whether you are Selling or Purchasing a home in this market.  Enjoy and feel free to call us if you have any questions.   

Jan. 17, 2019

The Grove Resort and Spa | Vacation Rentals

The Grove Resort and Spa | Vacation Rentals

Walt Disney World Short Term Vacation Rental - Guarantee ROI - 10% 

Looking for a great Short Term Rental Investment opportunity?  Well here is! Guarantee Rate on Investment of 10%!  

ROI - 10%

The Grove Resort and Spa is offering a great Short Term Vacation Real Estate Investment near Walt Disney World.  This new community is located only 5 minutes from Walt Disney World Theme parks. The Grove Resort and Spa is offering a guarantee ROI of 10% through the end of December 31, 2020.

These properties are brand new construction, come fully furnished and offer families a great way to integrate a home purchase in a great resort market next to Walt Disney World Resort.

The vacation condos offer a great way for families to purchase and use these homes as a great get away in a fantastic Vacation market.  The condos offer an opportunity for a family to offset their carrying costs and generate, produce vacation rental income by renting the homes out to visitors coming down to visit Walt Disney World, Universal Studios and Sea World attractions. 

These condos beat staying at a hotel and being confined to one room with two beds.  The Grove Resort and Spa offers the opportunity for families to purchase various 2 bedroom, 2 bath condos and 3 bedroom, 2 bath or a 3 bedroom, 3 bath homes.   

Great Short Term Rental Community with Fabulous ROI  

Here is a breakdown of the condos by name and sq footage:

Call the Petridis Home Team if you want to see any of these homes, direct at 407-756-3303.

Jan. 15, 2019

Just Listed - 104 Jana Circle Auburndale FL 33823

Just Listed - 104 Jana Circle Auburndale FL 33823

Just Listed - 104 Jana Circle, Auburndale FL 33823.  Looking for a move in ready home in a great community, well this is the home for you. 

104 Jana Circle Auburndale FL 33823

Nice 55 and over community located in Marianna Park, Auburndale FL. Bright and open floor plan with large kitchen with lots of cabinets with breakfast area. Home offers a large living area and dining area for entertainment. All appliances are included with the sale of this home.

104 Jana Circle Auburndale FL 33823

New Laminate floors recently installed in the Living room, Dining Room, and Bedrooms.

Large master suite with closet and nice size bathroom with stall shower and vanity.

Laundry room is inside tucked away in the rear of the home with washer and dryer.

Enjoy your outside covered carport and outside patio area.

Home includes storage shed and work area.

Home was manufactured 2009 Palm Harbor home. Own your own lot, HOA has low $30 fee per month and it includes Boat Ramp and Dock with fishing pier to Lake Mariana.104 Jana Circle

Open Floor Plan with Large Kitchen, Breakfast Area, Laundry area and Slider door to go outside.

 

 

It includes common area maintenance, clubhouse and shuffle board court. Community offers many activities at the clubhouse, enjoy bingo, pool table, cards, potluck meal and shuffleboard.

 

Jan. 4, 2019

New Construction Inventory Homes with Customer Incentives and Bonuses

New Construction Inventory Homes with Customer Incentives and Bonuses

Hanover Family Builders - Inventory Homes with Bonus

Do you need Inventory Homes Ready within 60 days, well we have them for you in various locations with a custom builder near Orlaando being built by Hanover Family Builders. 

Hanover Family Homes

Exclusive offer for Buyers include the following:

  • All this is included in our inventory homes as a bonus to your clients. 
  • $8000 Towards Closing Cost with Preferred Lender
  • Washer and Dryer
  • Refrigerator
  • Blinds

The Communities include the following:

Cypress Oaks from $234,999 to $298,999 - Cypress Oaks is located in Groveland and has 4 Inventory Homes starting at $254,968 to $276,798

Windsong from $205,999 to $323,437 - Windsong is located in Leesburg has 3 Inventory Homes starting at $239,999 to $323,437

Preserve at Sunrise from $222,999 to $309,610 - Preserve at Sunrise is located in Groveland and has 3 Inventory Homes starting at $270,518 to $312,110 

Hanover Lakes from $255,999 to $ 479,016 - Hanover Lakes is located in St Cloud and has 9 Inventory Homes Starting at $292,314 to 479,016

Sorrento Springs from $237,999 to $328,302 - Sorrento Springs is located in Sorrento and has 2 Inventory Homes Starting at $252,947 to $328,302

Overlook Reserve from $229,999 to $315,632 - Overlook Reserve is located in Kissimmee and has 6 Inventory Homes Starting at $262,999 to $289,440

Pinewood Gardens from $236,999 to $333,119 - Pinewood Gardens is located in St Cloud and has 3 Inventory Homes Starting  at $264,999 to $333,119

Ardmore Reserve from $306,552 to $474,997 - Ardmore Reserve is located in Minneola and has 7 Inventory Homes Starting at $334,480 to $474,999

Williams Preserve from $186,999 to $304,999 - Williams Preserve is located in Davenport and has 4 inventory Homes Starting at $252,712 to $316,287

Call the Petridis Home Team to get additional information and to set up a meeting to see any of these Communities and Homes

 

Jan. 4, 2019

New Construction Home Price Reduction - Davenport

New Construction Home Price Reduction - Davenport

Large Price Drop on an inventory, Move-In Ready Home in Davenport.  This is a 3 bedroom, 2 bath home with a two car garage and 1,538 sq ft of living space. 

New Construction Home - Davenport

This home is ready for a quick closing.  The home had a price drop of $15,500 and the builder is offering to buy down the interest rate down to 3.99%(buy down on the rate will save you around $50,000 over the life of the loan.).and will cover all closing costs, a savings of another $8,500.  This is a move in ready home!  No waiting to have your home buit! 

Builder Incentives:

  • Blow Out Price Reduction $15,442  
  • Buy Down on Interest Rate down to $3.99% from the current 5.00% - Savings over $50,000 over the life of the loan
  • All Closing Costs Covered! 

Call the Petridis Home Team if you have any interest on this home.  This home will not last long!  

Dec. 9, 2018

The Grove Resort and Water Park

The Grove Resort and Water Park

10% Developer Leaseback until December 2020!  

Looking to purchase a vacation home close to Walt Disney World?  Here is a great opportunity to purchase a home to vacation here at Walt Disney World and also use the home as a short term vacation rental!  The developer is offering a 10% guarantee return on your investment up to December 2020!

10% ROI on your investment!    

This condo is brand new construction that comes fully furnished and is only 4 miles to Walt Disney World.

This community is a short term rental facility and with the newest Water Park in the area this condo will rent very well and produce a great 10% ROI - Return on Investment.  Call the Petridis Home Team to get additional information on this resort.

These vacation condos offer a great way for families to purchase and use these homes as a great get away in a fantastic Vacation market.  These condos also offer an opportunity for the families to generate and produce vacation rental income by renting the homes out to visitors coming down to Orlando FL to see and visit Walt Disney World, Universal Studios and Sea World attractions.  

This Grove Resort and Spa Condo location offers the opportunity for families to purchase various 2 bedroom, 2 bath condos and 3 bedroom, 2 bath or a 3 bedroom, 3 bath homes. 

Here is a breakdown of the condos by name and sq footage:

 

 

Nov. 14, 2018

Just Listed Home-Saint Cloud FL 610 Michigan Ave Saint Cloud FL 34769

 

Just Listed - Saint Cloud 610 Michigan Ave Saint Cloud FL 34769

 

Nice starter home with 2 bedrooms, 1 bath in the downtown district of St Cloud near Lake Toho. Home has some new upgrades in the last few years. New roof installed in December of 2017, Electrical panel was installed in 2016, new wood fence installed on the parameter of home in the rear yard, new central heat and air was installed in 2014, home was repainted inside and out in 2016. The spacious kitchen opens to the screened in patio with a nice view of the enormous backyard. Home is well maintained with terrazzo floors, and custom baseboards, ceiling fans in all the rooms. Enjoy the privacy of your enclosed screened in lanai and privacy fenced in rear yard. Home has two utility sheds in the rear yard. Utility room with a washer and dryer in the carport area. This home is totally move in ready! Easy to show. Here is the link to the home: 

610 Michigan Ave St Cloud FL 34769

Nov. 11, 2018

Happy Veterans Day - Thank You for Your Service

This message goes out to all our Veterans. 

Thank You for Your Service!  

THANK YOU FOR YOUR SERVICE!

Petridis Home Team

 

Nov. 9, 2018

Are you a Veteran?

Are you a Veteran? This weekend we HONOR YOU !
You've shown by example what it truly means to belong to the land of the free and the home of the brave.
We often take for granted the very things that most deserve our gratitude. I personally thank you for your service and your sacrifice. I am forever grateful.
P.S. Coldwell Banker's affiliated partner Guaranteed Rate Affinity has an exclusive mortgage Offer Just For YOU. They will waive lender fees on their VA Loans. Veterans and current members of the US Armed Forces can save $1290 when they buy with Guaranteed Rate Affinity. Let me know if you would like to be referred to one our loan specialist.

THANK YOU VETERANS FOR YOUR SERVICE ! 

Call the Petridis Home Team, direct at 407-756-3303 so we can help you connect with our lender.

Nov. 7, 2018

Rent to Own Homes in Orange County

House Rent - Own

Looking for home ownership but you can not get a loan?  Rent to Own Homes is a good way to find a home that you can rent/lease and then purchase when you can get a loan.  

Rent to Own Benefits:

  1. Benefit of living in a single family home 

  2. Pick location or neighborhood of home

  3. Strong Schools

  4. Relocating to the area and are not sure where to live?

  5. Credit worthy but can not obtain a mortgage now?

  6. Short Sale or Bankruptcy and can not get loan until the waiting period is over

Requirements:

  1. Need to have a job for 2 years 

  2. Need to have a credit score above 545

Call the Petridis Home Team  at 407-756-3303 or register on our site. 

 

-

Nov. 1, 2018

Lease With a Right to Purchase

Our Home Partner provides responsible households a transparent path to home ownership through its Lease with a Right to Purchase Program for the Orlando FL Market. The program provides three to five years of rent certainty with an initial financial commitment of just one year.  This is a legitimate rent-to-own program that can help a customer that can not qualify for a mortgage loan due to prior issues with their credit.  You will be able to get into this program if your credit score is above 600 irregardless if you declared bankruptcy or short sale.  Below is a summary of the program.

Lease with a Right to Purchase Program:

  • Prospective Customer applies for approval - I will send you a secure link to apply on line
  • Prospective Customer finds a qualified home based on zip code
  • Our Home Partner buys the qualified homes, and the prospective customer leases from our Partner
  • Customer will have the right to purchase the home at any time up to five years from start of lease

How the math works:

The Math - Total Cost

Total Cost is the price Home Partners pays for the home, closing costs, make ready and repairs/maintenance costs. Total Cost is used to determine the resident's Right to Purchase prices. A sample is highlighted below:

  • Purchase Price $200,000
  • Closing Costs * $3,000
  • Make Ready and Repairs/Maintenance Costs $7,000
  • Total Cost $210,000
  • * Includes costs such as transfer taxes, attorneys' fees, title insurance, other acquisition costs, etc.

Monthly Rent Increases:

Each year, a resident's Monthly Rent increases by no more than 3.75% over the previous year’s Monthly Rent. See Below:

For example, if the Monthly Rent for Year 1 is $1,400 per month, the increase for the next year is $50/month (i.e., $1,400 x 1.0375)*.

Monthly Rent

Year 1 $1,400

Year 2 $1,450

Year 3 $1,500

Year 4 $1,560 (Does not apply in Texas)

Year 5 $1,620 (Does not apply in Texas)

Right to Purchase Price Increases:

Each year, the Right to Purchase Price increases by 3.5%-5% (depending on the region).

In the example, if the Total Cost of the home is $210,000 and if the Right to Purchase increases by 5% (i.e., Prior Year Purchase Right Price x 1.05)* then the Purchase Right Price for Years 1-5 is as follows:

Year 1 $220,500

Year 2 $231,500

Year 3 $243,100

Year 4 $255,300 (Does not apply in Texas)

Year 5 $268,000 (Does not apply in Texas)

There are additional costs that the resident will incur if they exercise the Right to Purchase such as closing costs to purchase the home, including transfer taxes, attorneys' fees, title insurance, and the cost of a mortgage loan. As a result, actual total costs to exercise the Right to Purchase will vary.

* Rent will round to the nearest $10. Right to Purchase Price will round to the nearest $100.

You will need to sign an lease Agreements:

Lease

The initial term of the Lease is generally one year, and the Lease automatically renews every year as long as the resident is in compliance with the Lease and Right to Purchase Agreement. Each year, the resident has the right to give notice that he/she does not want to renew the Lease for another year. If for any reason the resident decides to leave the home at the end of a Lease term and is in compliance with the Lease, the full security deposit will be returned.

The resident's financial commitment is limited to the initial term of the Lease. The resident does not have to renew the Lease after the initial term. The maximum number of years of the Lease is five in most states and three in Texas.

Over the life of the Lease, subject to applicable laws, Home Partners expects residents to treat the home as their own, maintain the lawn and garden, remove snow or debris, and complete minor repairs.

Right to Purchase Agreement

The resident's Right to Purchase Agreement (and therefore Right to Purchase) is in effect as long as the Lease is in effect, and the resident is in compliance with these two agreements.

The Right to Purchase Agreement gives the resident the right to purchase the home from Home Partners at a pre-defined price for each year of the Lease, as long as the resident is in compliance with the Lease and the Right to Purchase Agreements. The maximum number of years a resident can rent the home and have the Right to Purchase is five years in most states and three years in Texas. The Right to Purchase does not obligate the resident to buy the home.

Maintenance Adjustment Included in Purchase Price

The purchase price in your Right to Purchase, as set at the time you enter into the lease, will include an adjustment equal to $2,500 (a “Maintenance Adjustment”). If you choose to purchase the home, and the maintenance costs covered by the Maintenance Adjustment actually incurred by Home Partners during the lease are less than the Maintenance Adjustment, the purchase price of the home at closing will be reduced by the unused amount of the Maintenance Adjustment.

The Maintenance Adjustment generally may be used to cover the cost of any repairs, renovations, replacements or improvements to the home that Home Partners determines are necessary or appropriate during your lease term. Examples of the costs for which the Maintenance Adjustment may be used include the replacement of a major mechanical system (e.g., HVAC, furnace, roofing) or the repair of appliances, plumbing or fixtures. Home Partners generally is responsible for costs of home repairs in excess of the Maintenance Adjustment and those excess costs will not increase the purchase price for the home.

However, the Maintenance Adjustment does not limit your responsibility for any costs for which you would be responsible under the terms of the lease. Examples of these costs are costs due to your misuse of the home, your willful or negligent conduct, or your failure to comply with the lease. Home Partners may require you to pay these other costs separately in accordance with the terms of your lease.

Your rent is not affected by the Maintenance Adjustment, and the Maintenance Adjustment does not affect you unless you purchase the home. For example, if Home Partners pays repair costs of $2,500 during the lease term that are covered by the Maintenance Adjustment, and you choose not to buy the home, you will not be required to reimburse Home Partners for those amounts.

Escrow

Generally within 48 hours of a seller accepting Home Partners' offer for the purchase of a home, prospective residents will be required to sign the Lease and the Right to Purchase Agreement and provide the deposit, all to be held in escrow, pending the closing of the purchase of the home by Home Partners

Prospective residents will have an opportunity to review all documentation, and Home Partners encourages all prospective residents to consult with legal and tax advisers to review such documents and the transaction prior to signing any documents.

Key Considerations

You will need funds to pay the Right to Purchase price if you exercise the Right to Purchase. Typically, you will need the amount of the down payment and you will need to obtain a mortgage loan from a third party. Among the key considerations that a prospective resident should consider include:

The value of the home may not increase above the price at which the resident has the Right to Purchase (i.e. the Right to Purchase Price may be higher than the value of the home).

The resident may not be able to exercise the Right to Purchase because he or she may not have the down payment or qualify for a mortgage loan from a third party.

Home Partners is not a mortgage company, does not have any obligation to provide or arrange a mortgage loan, and cannot guarantee that a resident will be able to obtain a mortgage loan.

Program Summary

Home Partners provides responsible households a transparent path to home ownership through its Lease with a Right to Purchase Program. The program provides three to five years* of rent certainty with an initial financial commitment of just one year.

How It Works

Prospective Household applies for approval

Household finds a Home Partners qualified home

Home Partners buys the qualified home, household leases from Home Partners

Household has the right to purchase the home

Advantages

Standard Residential Lease - Home Partners Lease with a Right to Purchase

Sign A Lease

Financial Commitment Limited to 1 Year

Security Deposit Required

Rental Rate Certainty Typically 1-5 Years 

Right to Purchase

Mutual Responsibility to Maintain Home

Right to Purchase the Home at a Predetermined Price

Pick from Many* Homes Available