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Orlando tenants feel pinch of rent spikes

Metro Orlando rents spiked by as much as 15 percent during a year-long period when rents nationally declined, making Central Florida less affordable than some California markets, including Sacramento, a new report shows.

The biggest jump in rental rates hit smaller units. An influx of new complexes filled with one-bedroom units pushed up the average rental on those apartments by 15 percent from a year ago and 5 percent from a month earlier, reaching an average $1,170, according to research released Tuesday by the analytics firm Zumper. Household income in Metro rose 1.2 percent during that period, the federal government reported.

Rosalinda Hernandez, 60, works as a bill collector and lives with her mother in the east Orlando area. She said she keeps a close watch on the apartment market and finds no property managers offering discounts.

“If you don’t have someone to live with, you can’t make it,” she said.

For landlords, the region has been identified as a standout for its rising rents.

Brian Alford, market economist for the CoStar Group, said Orlando’s annual rent growth is one of the best in the nation. The four-county area had fourth highest year-over-year rent gains among the nation’s top 54 metro areas, he said.

“Orlando has seen rent growth across both luxury and workforce housing, which is not the norm,” he said.

The boost in prices repositions the Metro Orlando area from a region considered affordable to one where renters have to search harder to find deals. Apartments with two bedrooms rose at about half the rate of one-bedroom rentals and averaged $1,290 in October.Universal Orlando announces two new hotels

While rents in Orange, Seminole, Osceola and Lake counties rose by double-digit amounts from a year earlier, rents nationally declined by about 1 percent.

The Orlando area’s rent hikes come even as thousands of new units are rolling onto the market with 4,500 new apartments added in October, according to ALN Apartment Data.

Within the region, Clermont appeared to have one of the lower occupancy rates with less than 90 percent of units filled while the Eustis/Leesburg and DeLand areas appeared to have a shortage of rentals with virtually no units available in September, ALN reported. In the University of Central Florida area, east Orlando and Oviedo had an occupancy rate of 94 percent.

Tenants renting houses in the Orlando region did not escape the spike with those rents rising more than 4 percent in September, which was higher than the increases of 3.5 percent nationally, according to Morningstar. Higher rents don’t seem to be scaring away tenants with vacancy rates of 4.8 percent in September, which was down slightly from a year earlier. Nationally, vacancy rates for rental houses were 5.9 percent.

Looking ahead, conditions are unlikely to improve for renters with an influx of prospective renters following hurricanes, said Ryan Coon, an author who writes on landlord issues..

“We’re continuing the see rents climb in Orlando, especially as the housing market remains tight post-Irma,” Coon said. “This trend bodes well for landlords looking to invest in the area.”

 

HOAR SELECTED AS CONTRACTOR FOR NEXT PHASE OF LAKE NONA TOWN CENTER

, Fla.; August 7, 2017 – Tavistock Development Company, a diversified real estate firm owned by Group, announced today that Hoar Construction has been selected as the Pre Construction Program Manager and Master General Contractor for the next phase of development of the  Town Center which will include a thoughtful collection of more than one million square feet of retail, restaurant, , office, and hospitality uses.

Developed by Tavistock Development Company, with Steiner + Associates serving as the exclusive retail planning, leasing and development services partner, Hoar Construction plans to break ground on the next phase of construction in the Fall with anticipated completion in 2020. Hoar Construction brings the experience of having previously completed several projects with Steiner + Associates.

“Our team is eager to be a part of this transformative project and to help bring the retail and entertainment portion of the Lake Nona development to life,” said Michael Parks, Florida Division vice president of Hoar Construction. “We have a long history working with partners like Tavistock and Steiner + Associates to create world-class developments, and we are excited to be part of this team.”

Lake Nona Town Center is a 100-acre, 3.8 million square foot mixed-use experiential magnet and regional destination nestled within the large-scale Lake Nona master-planned community. Lake Nona Town Center fronts SR-417, Orlando’s eastern beltway, and is located adjacent to Orlando International Airport and its new multi-model transportation hub and international terminal.

Site plan for next phase of the Lake Nona Town Center

Lake Nona Town Center has already successfully opened and leased 85,000 square feet of class-A office, a dual branded Courtyard by Marriott and Residence Inn by Marriott hotel, 16,000 square feet of retail and restaurant space and a multi-level parking structure that doubles as public art adorned with colorful dichroic glass, lighting and a ‘Code Wall’ and is attached to a six-story digital art monument called ‘The Beacon.’

Local favorites Bosphorous Turkish Cuisine and Chorma Modern Bar + Kitchen – named Best New Restaurant 2017 by Orlando Magazine have thrived in the space – adding to the unique culture and atmosphere.

Tavistock and Steiner are currently in negotiations with several theatres and are close to finalizing plans for a brewery, comedy club and live performance venue, bowling concept and several additional restaurants and retailers. At full build out, Lake Nona Town Center will include more than 80 specialty retailers, anchors, junior anchors, and restaurants.

One of the most successful master-planned communities in the nation with more than 10 million square feet of current and planned residential and commercial development, Lake Nona’s corporate pipeline includes major regional projects including KPMG’s $400-million training and innovation center and the newly announced Amazon high-tech fulfillment center, both of which continue to position Lake Nona as one of the fastest-growing communities in America and a significant job creator for both the region and the state.

4 High-Return Updates for the Home

The Latest in Home Design Trends

  • Whether you’re a prospective seller or a longtime homeowner, revamping your space may be on your to-do list. Before you begin, preview these design trends and learn how to make them your own.

    Quick Decorating Touches

    • Add the latest color. From deep emerald to the lime hue of Greenery (the

    Pantone Color of the Year), verdant shades are instant hits. To incorporate the trend, sprinkle in a few eye-catching accessories or splurge on a plush, room-filling rug.

  • Bring in bronze and brass. These of-the-moment metallics look luxurious, but they have economical price tags and complement a variety of colors and styles. Spruce up your kitchen cabinets with brass handles or use bronze light fixtures to warm up a room.
  • Toy with texture. Whether you’re drawn to fabric wallpaper, a decorative wall hanging or a collection of well-placed throw pillows, texture is an easy way to make a space more inviting. And don’t shy away from mixed materials like leather and wool.

Trendy Upgrades

  • Enrich your entryway. You have only one chance to make a first impression. For a small investment, you can transform your home’s entrance with an artisan-crafted credenza or an oversized mirror that amplifies the natural light.
  • Update your countertops. Laminate options fashioned from recycled granite or glass are easy on the wallet and the environment. Want to go all out? Lighter shades in quartz, marble and wood are popular upgrades in today’s kitchens.
  • Establish a shedquarters. Whether you work from home, want a relaxing retreat or host houseguests regularly, a separate on-site structure aptly dubbed a “shedquarters” may be a worthy addition.

From a quick, low-budget change to a well-planned build-out, homeowners have several options when it comes to implementing the latest home design trends.

Luxury Market

 

DUAL MASTER BEDROOMS A RECENT LUXURY TREND

KEVIN COSTNER LISTS $60M CALIFORNIA HOME

You’ve heard of his-and-hers towels, but what about his-and-hers bedrooms? With more couples retreating to separate beds, dual master bedrooms have become a rising trend in high-end home design.
When you imagine celebrity home listings, you usually think of sprawling, multistory estates — the epitome of design. But Kevin Costner’s beachfront home in California is all about the land.
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Knowledge is confidence when buying and selling real estate!
ALLYN AND PAM MAYCUMBER
KELLER WILLIAMS // Luxury Sales
EMAIL allyn@maycumber.com
PHONE (407) 467-3862 // MOBILE (407)251-1314
ADDRESS 9161 Narcoossee Road STE 107 , FL 32827

What to remodel to gain the most Value?

Remodeling may be a labor of love, but it’s also an investment that can seriously boost the value of your home.  Only by how much? Well, according to Remodeling magazine’s 2016 Cost vs. Value Report, you’ll recoup an average of 64% of what you paid for a renovation if you sell your home this year.

To arrive at these figures, Remodeling asked consultants in various markets to estimate the average cost for 30 home improvement projects, from adding a bathroom to replacing a roof. Then, they asked real estate agents nationwide to estimate the expected resale value of these renovations so that readers could compare their out-of-pocket costs to how much money they’d get back when it came time to sell their home

So, what projects gets you the most bang for your home renovation buck? It may not be nearly as sexy (or fun!) as adding a chef’s kitchen or glam bathroom, but attic insulation gets the top spot. That’s right: Stuff some fiberglass insulation into the walls of a 35-by-30-foot attic, and you’ll pay an average of $1,268. But when you sell, you will rake in $116.90 for every $100. For you math-challenged out there, that’s a recoup of 116.9% of your costs. It’s the only home reno on this year’s report that redeems more money than you spend!
The next best-paying renovation on the list: manufactured stone veneer, offering a respectable 92.9% return.

Meanwhile—sorry, tub fans—the home improvement project that reaps the worst ROI is the addition of a bathroom, at 56.2% (although the “added value” of an extra bathroom for anyone who’s ever had to wait their turn for one is, of course, priceless).

Take-home lesson? If you’re looking for a general rule of thumb, it’s that less is more: Lower-cost projects  generally reap bigger returns, with four of the five projects that cost less than $5,000 ranking among the top five for money back when you sell.

Check out the best (and worst) returns for home renovations in the two charts below, including how much you’ll pay and get back if you sell your home this year.

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Mortgage rates climb after weeks of declines

U.S. mortgage rates rose after several weeks of declines, according to Freddie Mac.

The 30-year fixed mortgage averaged 4.19 percent for the week ending Jan. 26, an increase from 4.09 percent the previous week. A year ago, mortgage rates averaged 3.79 percent.

Favorable mortgage rates have aided U.S. home sales and have driven the refinance market.

“The 10-year Treasury yield increased more than 10 basis points this week,” said Allyn Maycumber, at Keller Williams Realty. “The 30-year mortgage rate moved up as well to 4.19 percent, a 10 basis point jump. This week marks the first increase in the mortgage rate since December 29. The 2.8 percent decline in existing home sales in December is a reminder of the lack of . According to the National Association of Realtors, supply is at its lowest level since 1999, a factor that should support higher house prices regardless of the oscillations of the mortgage rate.”

The historic low for 30-year rates was 3.31 percent in November 2012.

House for sale

Here’s what $6M-plus will get you in Orange County

If you’re looking for a luxury home, here are a few that might catch your eye.IMG_2240screen-shot-2014-11-17-at-8-12-17-am

As of Oct. 13, there are 21 homes listed for sale in Orange County for $6 million and up, with the most expensive coming in at $30 million, according to the Orlando Regional Realtor Association.

Of those, 10 are in Windermere, four are in Winter Park, four are in Orlando and three are in Golden Oak. They range in size from 2,960-20,333 square feet, two to seven bedrooms and two to 12 bathrooms.

Contact us for more information on these homes!

allyn@maycumber.com

Beware, warns Gary Keller ‘shift’ in housing market

Keller Williams co-founder is not bullish on the

Keller Williams co-founder Gary Keller — who owns the largest real estate company in the world, according to its count — is very bullish about his company.

But he’s not as bullish about economic and housing market conditions.

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Gary Keller

He points to five indicators of a downturn of some sort. Days on the market are up, the supply of move-up and higher end housing is now growing, home prices are going down in some markets, unit sales are slowing and construction is flat. “Only four times in U.S. history have home sales been higher, it’s a sign of a shift,” said Keller.

Plus, the “median home price is higher that it has ever been in the history of recorded time — last time we were here we were on the verge of a recession,” he said.

“It wouldn’t take much right now to push us into a buyer’s market.”

“I want you to get ahead” of these trends, he implored his troops. And there can be long-term implications. “We lost homebuilders in the last downturn that we never got back.”

And in the meantime, “nationally, home sales are on pace for another post-crisis record; sales are slowing in some markets as affordability becomes a serious issue.”

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Housing market

He also said that, “we are now seeing many markets split by price point. Entry-level remain in a seller’s market, but some and move-up markets show signs of shifting.”

The macroeconomic picture is not helping. Economic growth has been held back by low levels of investment in 2016, even though consumer spending remains strong. Low interest rates and an improved employment picture are good news, according to Keller.

But affordability has been declining since January as prices continue to outpace wage growth, hurting home sales. Construction has been focused on the high-end market, which is now showing signs of stress as high net worth buyers sit on the sidelines due to political and economic uncertainty here and abroad.

 

Kissimmee- vacation home capital

will be known as the “Vacation Home Capital of the World” —Complete with pro athletes and corporate executives popping in for stays at sprawling, richly appointed mansions. “It’s real exciting for Orlando and the new visitors everyday. “It’s a whole different market.” Different doesn’t begin to describe the luxury-rental-home market for which Kissimmee is becoming known.DSCN4798

British investors have high hopes of selling their overseas 10 years from now and retiring in the Kissimmee homes. Bella Vida is one of these communities that offer so many amenities that you really don’t need to venture out. If you feel you need to go exploring everything is close.

With so much entertainment around Central from , to Universal Studios , and Sea World, who needs to venture anywhere else. Just imagine renting a 6 bedroom home with a private pool and spa on conservation with a large game room and 5 and 1/2 bathrooms Great and inexpensive compared to hotels that run 300 to 350 a night,you can get these homes for around 250 a night

 

offices, homes, more in the pipeline

Looks like more development is on its way to to further grow a neighborhood and new sports district.

The city of Orlando on July 11 approved development plans in the southeast Orlando community for new , offices, showrooms, private athletic fields, mixed-use buildings, fitness centers and more. Lake Nona’s developer, Development Co. LLC, now can move forward with its plans that’ll create new construction opportunities, further develop a high-end neighborhood and develop land near the future U.S. Tennis Association’s 63-acre, $100 million campus that’s opening by year-end.

Here’s what’s coming:

  • Phase 7: Tavistock plans to expand its Laureate Park neighborhood by 54.8 acres that are between Tavistock Lakes Boulevard and Nemours Parkway. The property has 207 lots and will be used for more single-family homes and townhomes.
  • Laureate Park Neighborhood Center Phase 1: Tavistock will develop a 6,300-square-foot, mixed-use building; a 2,300-square-foot, multi-purpose building; a 3,000-square-foot fitness center; two swimming pools and neighborhood green space on 10.77 acres north of Tavistock Lakes Boulevard and east of Sachs Avenue. Later phases of the Laureate Park Neighborhood Center call for 141 housing units, including townhomes, condos, single-family waterfront homes and boutique apartments.
  • Sports Village at Lake Nona: Tavistock will develop 31.1 acres west of Performance Drive and south of the USTA facility where it plans to build up its 300-acre Sports & Performance District. An 18,877-square-foot office building, two 50,000-square-foot buildings with office and showroom space, six athletic fields with a 23,750-square-foot building for ancillary uses, and 700 parking spaces are plannorlando cityed for the property.

Tavistock announced last April it planned to develop a 50,000-square-foot office building in its sports hub. also announced earlier this year it’s opening a new 23-acre training facility next to the USTA campus in 2017. It appears the new development plans line up with these prior announcements, but it is not confirmed if they are related.

Meanwhile, Tavistock also recently filed plans in preparation for a new hotel or resort in Lake Nona. Tavistock seeks to combine three parcels between Lake Nona Boulevard and the Lake Nona waterway into a single designation to streamline development plans for a future hotel or resort, sources previously told Orlando Business Journal. It’s not clear if these plans are related to the sports district, but Tavistock leaders previously said a resort and spa is needed near the sports district to accommodate traveling athletes and their families.

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Lake Nona Golf & Country Club – Lake Nona

Lake Nona Golf & Country Club

Living in Lake Nona Golf & Country Club


For over 25 years, the Lake Nona Golf & Country club has provided its residents 
with exceptional, living along with a social calendar full of recreational events, celebrations and entertainment options.  The Lake Nona Golf & Country Club is built amidst a trio of beautiful Florida lakes offering freshwater fishing and boating opportunities on Lake Nona.

The main attraction inside the gates at the Lake Nona Golf & Country Club is the Tom Fazio-designed championship golf course.  This world-ranked golf course has been a regular host of the PGA TOUR-sanctioned Tavistock Cup.  In addition, Lake Nona Golf & Country club features a state of the art fitness center, a guest lodge, community pool, tennis courts and year round children’s programs.

Where is Lake Nona Golf & Country Club in Lake Nona?

Golfer tee up photo
The Lake Nona Golf & Country Club is Located
– Off Narcoossee Road approx 3 miles from the 528 Beachline Expressway.  Just outside the manned gates of this private community are numerous parks and trails, easy access to roads and expressways of Central Florida, and the Orlando International Airport is just minutes away for jet setters.  Forthcoming retail and entertainment choices in the new Medical City will provide a multitude of activities and a cluster of new hospitals, universities and research institutions will set new benchmarks in medical education, patient care and scientific research.  View a Google Map of the Lake Nona Golf and Country Club.

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Available Homes in Lake Nona Golf & Country Club

Lake Nona Golf & Country Club – are all custom built homes. There are homes built on spec for those looking for a new home and a quick move in.  There are also vacant lots on which to build including lake front lots as well as outstanding resale homes.  Incentives are available for social and golf memberships.  Contact us for details.

Meet Our Team

Meet Our Team

Allyn Maycumber

Allyn Maycumber

Broker-Associate, Realtor

As a broker-associate of Keller Williams Realty in the Lake Nona Area of Central Florida, Allyn Maycumber has ranked in the top four Realtors year after year in this immediate area, and ranked in the top 100 of all Central Florida Realtors.

Allyn can be reached at Allyn@Maycumber.com or 407-251-1314.

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Pam Maycumber

Pam Maycumber

Broker-Associate, Realtor

Pam is a Certified Residential Broker (CRB) representing the top 2% of Realtors Nationwide. The path that led this national honors recipient is an interesting one, and a path that has been filled with education, real estate.

Pam can be reached at Pam@Maycumber.com or 407-251-1314

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Mark Geeding

Mark Geeding

Buyers Specialist, Realtor

With over 25 years of sales and customer service experience, Mark knows what it takes to go above and beyond what people expect from their real estate agent. With a working knowledge of the entire metro Orlando area, Mark specializes in finding you the home and neighborhood that is the right fit for your needs. Mark’s goal as an agent is to build a relationship with his customers that earns their trust and makes them customers for life. Mark takes the time to listen to you and discover exactly what matters the most to you in selling your home or buying a new home. With Mark’s knowledge and expertise, he provides you with a hassle free and pleasurable real estate experience where you will feel confident and comfortable throughout the entire buying or selling process.

Mark can be reached at Mark@WeKnowOrlando.com or 407-251-1314.

Andy Montavon

Andy Montavon

Buyers Specialist, Realtor

Andy brings his clients a level of service that is both exceptional and hassle free.

Because each family or individual is unique, he tailors his service to meet each client’s specific needs and wants while giving them the highest quality of representation in reaching their real estate goals. Their welfare and satisfaction is his top priority.

Andy previously worked for Brighthouse Networks for over 15 years in residential sales, working one on one with customers at their homes to get them the best possible service. He also spent over 10 years in the hospitality business with Marriott and Sheraton.
While Andy is not assisting his clients he enjoys spending time in Lake Nona with his wife and 2 children.

Andy has lived in Orlando for over 20 years and Lake Nona area the past 3 years and has extensive knowledge of Orlando and surrounding areas.

Andy has joined the Maycumber team in Lake Nona and is helping current and previous clients succeed in obtaining their goals of buying and selling luxury real estate.

Andy can be reached at Andy@WeKnowOrlando or 407-616-1198.

Niloufer (Nilu) Boga

Niloufer (Nilu) Boga

Buyers Specialist, Realtor

Nilu was born and grew up in Bombay, India and achieved her Bachelor’s of Science degree from Bombay University. She migrated to the United States 30 years ago, with her husband, Zerksis and is fluent in several Indian languages.

Nilu has worked for several years in the fields of Education as an Administrator and Banking as a Personal Banker. She is a multi-faceted person and has served as a Boy Scout leader, and helped with fundraisers like the ‘Relay for Life’. She is actively involved with her community’s Chamber of Commerce, to help with youth development programs and other charitable endeavors.

With her ability to forge strong relationships and identify her customers’ requirements, Nilu is made for Real Estate. It is all about Trust, Integrity, Service and Performance with Nilu. Her singular goal is to make the process of buying and selling Real Estate as smooth as possible for both the Seller and the Buyer.

Home

We Have NEW LISTINGS

12046 Uleta Lane, Orlando, Florida 32827

Move-in ready, this home has a new fence and custom painting done for you! Enjoy entertaining in the spacious, open-plan, four-bedroom, two-and-a-half-bath, two-story home with 3,008 square feet.

Enjoy a glass of wine while watching beautiful sunsets overlooking the water. This kitchen has dark 42-inch cabinets, subway tile back splash, under- and over-cabinet lighting and beautiful granite counter tops. With stylish gray walls and large porcelain tile throughout the lower level, this home has a modern feel.

The generous master bedroom is on the first floor and has a large walk-in with custom closet system. Convenience is everywhere you look, with a home office area, mudroom and laundry right off the expansive kitchen and great room. Upstairs there are three more bedrooms and a loft big enough for several uses at once. The tile roof, brick paver drive, walks and patio add to the feel of this Cypress model.

Meander through this unique guard-gated neighborhood full of waterways. Meet with friends at the 26,000-square-foot town center, where you have access to the clubhouse featuring gathering and multipurpose space and a catering kitchen. The mail room, covered lanais, state-of-the-art fitness center, resort-style swimming pool, lap pool, six clay tennis courts, basketball court, full-time community activity director, tot lot and more all add to the value of your new home.

1803 GREAT FALLS WAY, ORLANDO, FL 32824

Gorgeous home in the Lake Nona area ready for your family.This home overs all the living space a family will need along with the multiple upgrades you want offering Granite counter tops in kitchen and bathrooms large fenced in backyard with paver accents and hardwood floors in all main parts of home including large bonus room Home sits on corner lot and has easy access to Orlando International Airport and Lake nona amenities including ,VA hospital,Nemours Children’s hospital,and all the entertainment and restaurants. 45 minutes to Worlds most famous beaches

Lake Nona Homes for Sale

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Hire The Maycumber Real Estate Team

With over 50 years of combined experience in the real estate industry, the Maycumber Team provides a variety of services to meet their clients needs when buying or selling a home. Located in the East Orlando Area, Allyn and Pam Maycumber are true experts in the Lake Nona and Medical City Area. They are committed to the community and the people they help serve.

The Lake Nona area, with the addition of the new Medical City and the University of Central Florida School of Medicine Campus, is one of the fastest growing real estate markets in Florida. Look no further than the Maycumber Real Estate team to assist you in all of your real estate needs in Lake Nona and in the Greater Orlando area.



Best Cities To Live

Lake Nona Medical City is an emerging biomedical research and educational hub which includes the University of Central Florida College of Medicine and Health Sciences Campus, Sanford-Burnham Medical Research Institute, the Orlando VA Medical Center, Nemours Children’s Hospital and a University of Florida Research and Academic Center. In the Lake Nona area, the population has grown from merely 1,500 in 2000 to over 50,000 people in 2015.

The following schools are in Lake Nona:

  • Lake Nona High School
  • Lake Nona Middle School
  • NorthLake Park Community School

Meet The Team

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