LEESBURG, Fla. --- Tavares-based JG Properties plans to unveil the first of 11 new homes under development at Dream Lake in Fruitland Park and priced so that median-income families can afford to buy them during two open house events this weekend for Realtors and potential home buyers.John D. SanFelippo, owner of Tavares-based JG Properties, said he plans to showcase both new homes at an open house for Lake County Realtors on Friday, Sept. 28, from 4 p.m. to 7 p.m. at 202 Forest Ave. and 504 Penn Ave. in Fruitland Park.
The following day---Saturday, Sept. 29---JG Properties plans to show off the new homes at an open house for prospective home buyers from 10 a.m. to 2 p.m.
SanFelippo and Realtors Susan Snell of Exit Realty Tri-County in Mount Dora and Joe Savoy in Apopka are giving each participating Realtor prizes worth more than $100 each and a chance to win one of five $100 cash bonuses to be awarded. The prizes---10 tickets each to Bonkerz Comedy Club in Altamonte Springs and Universal Studios Orlando, along with four VIP Champagne Table passes to Tabu Night Club in downtown Orlando, with a complimentary bottle of champagne---are very generous, SanFelippo said, but that's for good reason.
"Realtors work very hard, and we wanted to provide something of real value to them," SanFelippo said. "With 10 tickets, a Realtor can treat the whole office to a night out," he added.
Prospective home buyers who visit Dream Lake on Saturday will receive a pair of tickets to Bonkerz Comedy Clubs (value $16) along with luncheon and refreshments in one house and dessert in the second, SanFelippo said.
Dream Lake is the first of several 'infill' projects JG Properties plans to build in Lake County that feature affordable pricing. SanFelippo, who recently graduated from a three-month course in Community Real Estate Development at the University of South Florida in Tampa, said he is already looking for a new site that can start development next year.
The two new Dream Lake homes---a four-bedroom, two-bath home priced at $168,000 and a three-bedroom, two-bath home priced at $164,500---rank among the most affordable new homes in Lake County. To make it even easier to buy, JG Properties will contribute up to three percent of the purchase price toward closing costs, SanFelippo said.
"Demand for affordable homes has increased tremendously as housing prices outpaced the ability of most families to afford to buy a new home," SanFelippo said.
"Lake County is a wonderful place to live, but it's harder than ever to afford to buy a home here," said SanFelippo.
By designing more efficient homes---both Dream Lake homes measure under 1,400 square feet of living space---and carefully selecting materials like floor tiles, lighting and bath fixtures and appliances, SanFelippo said he is able to deliver a high-quality traditionally-built home at an affordable price.
"Now that the home building industry has slowed, more builders are looking at the affordable market," SanFelippo said. "When the market picks up again, most of them will go back to building $300,000 houses, but we plan to focus on the affordable segment as long as we build homes," SanFelippo said.
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