Orlando Real Estate Market Update 08/31/07

Gitta Urbainczyk, P.A.

The market may seem very slow, but it's really all in the eyes of the beholder.  Homes are still moving, especially the highest priced homes.  Here are some of the pricey real estate which has sold so far in 2007 in the 4-county area. 

 Seminole County

•1.      Number one and highest price sold home was in Sweetwater Club Estates in Longwood.  This property sold for $3,750,000, although the asking price was $4,200,000. The home was on the market for 226 days. It offered 5 bedrooms, 6.5 baths and totaled 7,444 sq. ft.  The home was built in 2001 and includes amenities such as a summer kitchen, two separate laundry rooms, a tropical pool, and the perfect location (situated on a 2+ acre lot).

•2.      In the number two spot was a home located in Alaqua Lakes in Longwood.  This beautiful property sold for $3,250,000 with an original asking price of $4,950,000. The home was on the market for 115 days. It offered 7 bedrooms, 5.5 baths, and totaled 10,234 sq.ft of living space.  The home features a basketball court, putting green, guest house and an elaborate pool with waterfall. 

Orange County

1. In Orange county, the top spot belongs to a home (well, actually, an elegant estate) situated on a 5-acre parcel in Isleworth, a part of Windermere.  The estate was sold for $10,000,000 after being on the market for only 70 days.  The original asking price was $12,950,000.  Selling at almost 30% below asking price, the property did sell quickly in this so-called slow market.  Besides being very close to Tiger Woods, this home offers nothing short of the best.  Boasting 14,979 sq. ft. of living space with 7 bedroms and 6.3 baths, the home is located on Lake Chase.  It features a magnificent library, tennis courts with flood lighting, a 2-bed/2-bath pool home and caretaker living quarters.  All of this, plus enhanced by a lakefront lifestyle!   

1. Not far behind the # 1 spot is this mansion also located in Isleworth.  The home sold for $8,950,000 after being on the market for 347 days at an asking price of $9,900,000. The home features 15,383 Sq. ft. of living space, including 9 bedrooms and 12.5 bathrooms.  The home comes complete with a boat dock, lakefront gazebo and a dramatic hand-crafted two-story grand and wide staircase with chandelier.  And let's not forget the detached guest apartment and 4-car garage!

Lake County

1.  (Picture displayed is a sample picture of a property presently being sold in Bella Colina and not the picture of the sold home as no picture was provided by the MLS.)  Coming in as the #1 highest sold home in Lake County is a property located in Bella Colina, selling for $6,000,000, after an original asking price of $6,780,000.  The pinnacle of luxury living at Florida's newest private community is, without a doubt, Bella Collina. Inspired by centuries-long Tuscan lore, you'll reside amongst nearly 2,000 acres of rolling hills, serene lakes, vibrant orange groves and majestic oaks. Enjoy traditional valley-style golf unique to central Florida. Explore the breathtaking countryside on horseback. Or savor the culinary delight of expertly prepared, eclectic and contemporary Italian dishes at the exquisite grand clubhouse. The home boasts 5 bedrooms and 5.3 baths.  The property overlooks Lake Siena and offers a 2-story stone fireplace, a grand master wing including a sitting area, a morning kitchen, jetted tub and a temperature-controlled wine cellar!

1.  (Picture displayed is a sample picture of a sold home in Heathrow Country Estates and is not the picture of the sold home as no picture was provided by the MLS.) Number two goes to a home located in Heathrow County Estates.  This home sold at the asking price of 1,700,000.00.  It's a 4,923 sq. ft. home with 4 bedrooms, 4.5 baths, and a beautiful location on a golf course.  Heathrow Country Estates offers exclusive luxury homes in an elegant community.  This unique golf community offers spectacular views and privacy gates.   Amenities: Residents will enjoy the clubhouse, convenient shopping and a health and fitness center located on the property. The Private Golf Course Community - Red Tail Golf Course Let your family be part of this great community of Heathrow Country Estates.

Volusia County

1. Riviera Bella in Debary had the highest priced home sold in the West Volusia area. Built in 2006, it sold for $1,250,000. The home offers 3,600 sq. ft. of space, including 5 baths and 4.5 bedrooms. Bella Riviera is the only guard-gated community on the St. Johns River.  Riviera Bella's 240 acres of pristine river frontage and surrounding conservation area occupies an enviable location with exclusive amenities and imaginative home options. Riviera Bella has been created with distinctive Mediterranean design features infusing everything from the magnificent entrance to the intimate details of each home. Three exciting villages provide varied options to satisfy the needs of the most discriminating homebuyers. With the maintenance-free Villagio, family-sized homes of Mediterra, and confiding riverfront of Riviera Estates, each village offers something unique.

1. Coming in as the 2^nd highest priced home sold in West Volusia County is a home located in Victoria Park in Deland.  This property sold for $900,000 after being on the market only for 21 days and was originally listed for $990,000. The home was built in 2005, it has 4 bedrooms, 4.2 baths and is ideally situated in Deland just 20 miles from Daytona Beach and 30 miles from Orlando.  New Smyrna Beach is just 25 miles to the west. Victoria Park offers a world of opportunities, all within 100 miles! With The Walt Disney World Resort paving the way to fun, discover Orlando's numerous attractions. Theme parks, like Seaworld Adventure Park and Universal Orlando, exciting entertainment destinations, dining and retail venues all provide fun for visitors of all ages. You can also easily pay a visit to nearby nature parks.  In Daytona Beach, you'll find plenty of sporting activities, from baseball and surfing to racecars and football-something for everyone! The area's many natural wonders await your exploration. Living in DeLand means you'll also be centrally located to some of Florida's most beautiful public beaches. Hop in the car and enjoy a sun-filled afternoon on the world-famous sands of the New Smyrna or Daytona beaches. It's a great location to call home.  Get out there and enjoy 100 miles of fun!

Osceola County

1. The highest priced home sold in Osceola County was sold in Celebration. This home was listed for 182 days and sold for $2,500,000.  It originally listed for $2,650,000. This beautiful home has 6917 sq. ft., featuring 5 bedrooms, 5.2 baths and was built in 1997. This is a true Southern Antebellum design home with 2,700 sq. ft. of covered porch. Celebration is a unique designed community located in the South Orlando area close to all Disney Parks and many other attractions. Celebration hosts many events every year. Some of which include community-wide yard sales, an art show, an exotic car festival, the "Great American Pie Festival" (televised on The Food Network), a "Posh Pooch" festival, and downtown events for the Fall and Christmas seasons when autumn leaves and "snow" (small-scale soap bubbles) are released into the town square. The community also host a 4th of July fireworks celebration.  

1. The 2^nd highest priced home was also sold in Celebration and was sold for $1,900,000. It originally listed for $2,300,000 and sold after being on the market for 188 days. The home consists of 7 bedrooms and 5.5 bathrooms, with 5,376 sq. ft. of total space, including a 3-car garage. This beautiful custom home is situated in a park-like setting with water views all around.  Celebration hosts many events every year as mentioned above.  In addition, residents of Celebration come from all parts of the country. There is a large portion of the Celebration population from New York, Michigan, and Ohio. Many of these residents are 'snow birds' who only stay during the winter months.  There is also a large British population.

This is the Labor Day weekend and the last day of the home selling summer season. In Florida, school has already started.  In some states, the school year will start after this weekend.  However, the main selling season has come to an end.  The rest of the year, homes are going to continue to sell, but at a much slower pace.

On behalf of my team, we wish all of you a very happy and joyful Labor Day weekend!

Gitta