Infographic Design By Susan & Troy Susan & Troy: Sedona Real Estate Agents
Infographic Design By Susan & Troy Susan & Troy: Sedona Real Estate Agents
Orlando, Florida may be best known for Walt Disney World and Universal Studios, however, for those who call it home, it offers so much more. Orlando is steeped in history, full of opportunity and a wonderful spot to raise a family, advance your career, or enjoy one's golden years. Regardless of what draws you to Orlando, there a plenty of areas and neighborhoods that are ideal places to find your next home.
Orlando's Top Neighborhoods
The affluent neighborhood of College Park is located north of downtown Orlando and is full of century-old homes, superior dining and stylish boutiques. The area is abundant in green space, parks, and lakes.
College Park offers residents a suburban lifestyle while keeping them fully immersed in all the amenities and activities that Orlando has to offer.
Homes in the College Park area are mostly large, single-family dwellings, built anywhere between the early 1900’s to the 2000's. The area is also known for having 20th-century cottages which are full of character and charm.
The median home value in College Park is approximately $310,000. Homes range greatly however, with some valuing well over 1 million dollars.
Some schools in the College Park area are:
The College Park Neighborhood Association is committed to improving and protecting the standard of living for those who reside there, as well as providing plenty of opportunities for community gatherings and events.
The main street of the neighborhood, Edgewater Dr., is full of upscale shopping, fine dining, friendly pubs, and cozy coffee shops. You are never more than a few minutes from all these great amenities when you are in the College Park area.
Thornton Park is the perfect spot for anyone looking for a unique and inviting neighborhood. This area has become increasingly popular for young professionals as the area is a hub for cafès, pubs, restaurants, and boutiques.
The population for Thornton Park is approximately 1,865 residents. The majority of those who live in the neighborhood own their home.
The median home value for properties in Thornton Park is roughly $318,000 and the home's area is primarily single-family dwellings or condominiums.
Some schools in the Thornton Park area include:
Enjoy the hip and urban feel of Thornton Park shopping area. The cobblestone streets are filled with unique shops, stellar restaurants and events throughout the year.
The nightlife is electric in Thornton Park. The main street, Washington Ave., is full of bars and pubs pumping out live music and colorful drinks.
Thornton Park is also located right next to Lake Eola Park, which is the perfect getaway from busy city life. The lake is surrounded by sidewalk, making a scenic stroll enjoyable for all. Sit and enjoy the scenery or have a picnic with friends.
The neighborhood of Delaney Park is a great place to raise a family. Homes are very affordable, and the quiet streets provide the perfect setting.
The Delaney Park area began its development in the 1920’s and continued to grow as Orlando grew. The area features mainly large homes that are competitively priced.
The neighborhood is situated right next to Lancaster Lake and offers residents a scenic backdrop to suburban life.
Homes in the area vary in price considerably, some selling for $164,000 while others are over the 1.5 million dollar mark. Due to this wide variety, the area offers options for all types of budgets.
Some schools in the Delaney Park area are:
For those who enjoy spending time in nature, there are a number of lakes in the Delaney Park neighborhood. Lancaster Lake is located right beside the area.
Residents also have easy access to shopping and restaurants as well as a number of healthcare centres within minutes of the neighborhood. The Orlando Regional Medical Center, Winnie Palmer Hospital for Children and the Orlando Health Heart Institute are all nearby.
The beautiful and established neighborhood of Lancaster Park provides residents with comfortable, safe living while enjoying the scenery of Lake Lancaster.
Homes in Lancaster Park fall anywhere between cozy, single family-dwellings, to condominiums, to sprawling million-dollar properties. The area has many choices of size and style for those interested in purchasing.
The median home value for Lancaster Park falls around $373,000 and the majority of the homes in the area are owned.
Some schools in the Lancaster Park area are:
Residents are able to enjoy a taste of lakeside living with the neighborhood being located directly beside Lancaster Lake. There are also nearby lakes such as Emerald Lake and Lake Davis only minutes outside of Lancaster Park.
Along with these gorgeous lakes, there are a number of beautiful parks. Some parks in the area include:
Less than 5 minutes from Lancaster Park is the Wadeview Community Center which provides community members with a pool, workout room, gymnasium, and common meeting areas. The community center hosts classes and programs for children and seniors alike.
Lake Nona is one of Orlando’s premiers planned communities that offers something for everyone regardless of which stage of life they are in. Within this planned community there are a number of neighborhoods that are geared to all different lifestyles.
The options for housing in Lake Nona are truly endless. From single-family homes to large estates, to modern and comfortable condos, Lake Nona has it all. Developed by Lake Nona Property Holdings, the neighborhoods within Lake Nona all cater to different walks of life.
Due to these options, the prices for real estate in the area will greatly differ. A single-family home could fall anywhere between $300,000 - $900,000 depending on square footage, property size and location within the development.
Some schools within the Lake Nona area are:
The community itself is full of amenities and features that keep residents active and engaged. For those who love to golf, the Lake Nona Golf and Country Club can be right in your backyard.
The Lake Nona Town center is a hub for shopping, dining and entertainment. Everything one would need is right next door. From large retailers to unique one-of-a-kind shops, the Town Center offers all the amenities of a town of its own.
There are numerous events and activities being hosted around the community on a daily basis. Senior activities, children’s programs and yoga are just some of the things residents can participate in.
Rose Isle is community north of downtown Orlando. The area is surrounded by water and offers residents a suburban atmosphere.
There are approximately 1,013 residents of the Rose Isle community. The homes in the area are well kept and on quiet and pristine streets.
The average value of properties in the area is around $546,000, which makes it one of the more expensive locations in Orlando.
This well-established community developed between 1950-1960 and continues to be a popular location for those seeking housing in the Orlando area.
Mainly single-family homes are available for purchase, as the vast majority of residents own their property.
Some schools in the Rose Isle area are
Surrounded by Lake Sue, Lake Estelle and Lake Rowena, there is plenty of opportunity for sightseeing, leisurely walks along the water and relaxing picnics by the lake.
For Art and Culture enthusiasts, the Orlando Museum of Art is located right across N. Mills Avenue along with the Orlando Repertory Theater.
Children and adults alike will enjoy the Orlando Science Center with their interactive and engaging exhibits, all within a stone's throw of the Rose Ilse neighborhood.
There is also easy access to a ton of dining and shopping establishments.
Situated on the shores of Lake Rowena, Rowena Gardens is an ideal location for those looking to settle in and raise a family. The quiet and safe streets are lined with mature trees and the close proximity to many amenities will ensure you enjoy the best Orlando has to offer.
The majority of housing types for Rowena Gardens is single-family dwellings, making it a family-friendly area.
Over 80% of the homes in the area are owned and the median home value hovers around $450,000 dependant on size and location.
Some schools in the Rowena Gardens area are:
Nestled along Lake Rowena, Rowena Gardens is a slice of tranquility, right next to numerous amenities, dining and shopping locations.
N. Mills Ave. is home to various restaurants, pubs, boutiques and entertainment venue, all which lie minutes from Rowena Gardens.
The Harry P. Leu Gardens is located right within Rowena Gardens and is a 50-acre botanical garden and estate.
Along with restaurants and shopping, residents will also have easy access to green space and parks. Lake Formosa, Lake Sue and Lake Estelle are scenic lakes surrounding the area.
Situated right next to Rowena Gardens, Colonialtown North is another great location for living in Orlando. The area is home to amazing restaurants, hip bars and pastel-colored bungalows.
The housing type in Colonialtown North is primarily single-family dwelling. The homes range from mid-century bungalows to large two-story dwellings.
The median value for properties in the Colonialtown North neighborhood is roughly $215,000, however depending on the needs, wants and budget, there are options in the $500,000-$600,000 range as well.
Pride of ownership is evident in the area as the majority of residents own their property.
Some schools in the Colonialtown North area are:
Colonialtown North is full of restaurants, bars, cafes and shops. The area is always abuzz with plenty of things to do and see.
The Harry P Leu Gardens is located just north of Colonialtown North and offer a scenic getaway for those looking to step away from city life and immerse themselves in nature.
Along with Rowena Lake, there are other nearby lakes and parks that are within minutes of the neighborhood. Lake Druid Park, Lake Ivanhoe Park and Gaston Edwards Park are all close by and ready to be explored.
Along the shores of Rowena Park is the Milk District which serves up live music venues, unique shops, and galleries.
Orwin Manor is a large neighborhood located along Interstate 4, north of downtown Orlando. The area is surrounded by picturesque lakes, greenery and parks. Considered one of the best neighborhoods in Orlando, Orwin Manor offers spacious homes, quiet streets and a safe community.
Orwin Manor is home to 2,745 residents who reside in large, comfortable homes.
The area is varied in price, with a median home value being $352,000; however there are a considerable amount of homes selling for close to $900,000. The variation is due to size, location and features of the properties.
Orwin Manor is an ideal location for families, as the homes are single family dwellings with multiple bedrooms and bathrooms on decent sized lots.
Some schools in the Orwin Manor area are:
Those living in Orwin Manor will have access to a large number of amenities, parks, restaurants and shopping areas.
N. Mills Avenue, which runs through the heart of the neighborhood, is dotted with dining and retail establishments. Grabbing a bite to eat or running errands is a breeze for those in the Orwin Manor area.
Beautiful scenery and access to lakes and parks is another perk of Orwin Manor. Surrounded by 3 sparkling lakes, Lake Estelle, Lake Winyah and Lake Sue, allows to scenic strolls, water activities and days spent on the beach.
Along with these lakes, there are plenty of parks equipped with play equipment surrounded by nature. Lake Estelle Park, Lake Rowena Park, Orwin Manor Park and Loch Haven Park are just a few parks within minutes of Orwin Manor.
Orwin Manor is immersed in culture and arts, being located near a number of museums. The Orlando Science Center, Orlando Museum of Arts, Orlando Fire Museum, and The Mennello Museum of American Art are all just down the road from the neighborhood.
Set in the southeast area of Orlando, Southern Oaks is a neighborhood that offers residents a suburban lifestyle. Generous lots on palm tree-lined streets make it a perfect location for those seeking a quieter pace, all while enjoying close proximity to the many amenities Orlando has to offer.
Large, reasonably priced homes has made Southern Oaks a desired location for many moving to or around Orlando.
The first home in the area was built in 1969 whereas the last home in this community was completed in 2010. As such there is a lot of diversity when it comes to style and features.
Southern Oaks is a walled neighborhood which has two access points. The area has an active and committed homeowners association that works to maintain common areas, provide events and activities and increase the quality of living for its residents.
Southern Oaks is the ideal location for those looking for expansive single-family homes on generous lots. The median property value for Southern Oaks is roughly $300,000.
Some schools in the Southern Oaks area are:
Like many of the neighborhoods in Orlando, Southern Oaks is surrounded by lakes and parks that add to the overall quality of living for its residents.
Lake Pinelock, Lake Gatlin and Lake Jennie Jewel are the larger lakes in the area. Along with these lakes, there are parks situated throughout the area, as well as Community and Recreation Centers, namely:
Falling east of downtown Orlando, Dover Shores West, provides residents with the best suburban life has to offer, while remaining close to urban amenities.
Dover Shores is a desirable location for its clean, safe streets, large bungalows and reasonably priced real estate.
Dover Shore West has become increasingly popular with young families and commuters alike. Just 10 short minutes to the Central Business District in downtown Orlando has working professionals looking at Dover Shores West as the ideal place to live.
The majority of houses in the area are large bungalows built between 1950 and 1960. The median home value for properties in Dover Shores West is $250,000; however some are selling for as high as $420,000.
Due to its affordability, Dover Shores West has continued to be a sought after neighborhood. A neighborhood association meets regularly to plan events and community gathers for its residents.
Some schools in the Dover Shores West area:
The neighborhood of Dover Shores West is blessed with two beautiful lakes within its boundaries. Lake Arnold and Lake Giles provide scenic lookouts and the perfect place for early morning or evening strolls.
Curry Ford Road is full of dining and shopping options, where nearby downtown Orlando is flooded with all the amenities, music venues, entertainment, shops and restaurants, all within a 10-minute drive from Dover Shores West.
The area of Park Lake/Highland is full of charming homes situated on brick roads and tree lined streets, including the oldest tree in Orlando.
Park Lake/Highland is a popular neighborhood for its historic homes, beautiful lakes and many amenities.
Living in Park Lake/Highland can feel like a step back in time. The area is full of large, historic homes that remain well maintained and full of character.
There is a balance for newer homes within Park Lake/Highland as well as varying home values, ensuring there are endless options regardless of budget.
The median list prices for homes come in just under $500,000, with options well over a million dollars. Though the neighborhood is more expensive than the average for Orlando, it is considered well worth it by the people who live there.
Some schools in the Park Lake/Highland area are:
Park Lake/Highland are full of amenities, restaurants, parks and lakes. There is no shortage of places to shop, dine and relax.
N. Mills Avenue is a hub for all different sorts of dining and entertainment experiences. Full of music venues, pubs and cafes, there is always a new place to try out.
Enjoying park and lake life is no problem as there are plenty within minutes of the neighborhood. Lake Ivanhoe, Lake Highland and Park Lake are directly situated around the Park Lake/Highland area. At these lakes are parks that give residents a chance to take in the scenery and enjoy play areas and picnic spots.
Are you looking for a bigger home but not sure if you can afford it? Here is a quick path to how to achieve it.
1. Know the value of your house
Know the value of your house in the Market right now as well as how much you will walk with after closing after all taxes and fees. I highly recommend getting an accurate in person estimate from an experienced Realtor who specializes in the listing side of the business. Online estimates can be off by as much as 40%. Knowing the correct expectation on price is very important. If you would like a personalized assessment I can of course happily provide one for free.
2. Know how much you can afford to buy:
Unless you have a significant amount of excess cash the best thing to do here is to talk to a lender. A good lender will be able to discuss all of your options. Any good Realtor® will have a couple great lenders who will be happy to provide a free assessment relative to your goals.
3. Find areas and homes that you like and can afford:
Now – How much house can you afford based on your proceeds from your current property?
Are their properties available that look nice in that price range? You don’t need to go see a bunch of them in person for this as the ones you see now in the planning stage most likely will not be there once you are ready. You just need to make sure there are houses that look nice to you and are in areas you want to live that you can afford based on your budget.
4. Do you need to sell your home in order to buy your next one?
Now- if you need to sell your house first in order to buy a new one how do we time it all right???
This is where it is very important to get it right and where you should be very aware of the process that is most successful for someone with your unique goals. You don’t want to sell your house and not have a home to move in to but in our current market most sellers of the houses you want to buy are not willing to accept an offer contingent on selling your house unless yours is at least under contract with a buyer.
5. Plan according to your goals:
So let’s assume you do have to sell in order to buy. You have a couple options: You can have an interim plan of renting or staying with family. If this is not desirable then you should shop for subdivisions first. Know what you will be able to afford and find subdivisions that you like. Then keep a top 8-10 homes favorited on the website you use. Once you are comfortable there are options available you are ready to list your current house. It is very important to have a Realtor working with you who has done this 2 transaction process multiple times in order to negotiate the right amount of time offers on your house so that you can find and get an offer accepted on a new home.
This is a very doable process and one I have accomplished helping others with many times. As long as the expectations are clear from the beginning of how much of a house you are able to buy considering the net amount on yours after taxes and fees and you plan correctly it is very easily achievable and can typically be done in a pretty short amount of time.
If you would like a bigger home and would like to know more about moving up and what the possibilities are for you then you can go to www.MCbarnettgroup.com/selling and schedule a free consultation appointment, or just shoot me a PM, give me a call, or send me a text. I will discuss with at no cost to the information you need in order to make your decision and know which process to achieving the goal makes the most since. Buying and selling at the same time does need to be done right, but doing that right is what my team and I specialize in.
Market Connect Realty
Pricing a home correctly based on your goals is probably the absolute biggest decision you make when you sell you property. Everyone always wants more than it is worth. At times I meet people who want way more than it is worth. Unfortunately though the market decides what price levels buyers will be interested in. Now, that doesn’t mean you can’t push the market and your final closing sales price higher by doing it right.
While many agents I meet only use sold comparable homes I feel there are 4 main factors to take in to consideration in looking at price:
First, before you look at any comparable properties, should look at the hyper-local absorption rate. This considers the amount of supply vs. demand for similar properties in your area. If you are in a seller’s market (1-5 month supply) of inventory you can expect to price your house higher relative to the comps than if you are in a buyer’s market. If you are in a raging seller’s market (1-2 month) supply of inventory) you can actually push slightly above the range of recently sold comps and still expect offers.
Now that you have a pulse on the market. The next factor is to compare your house to the absolutely most comparable homes nearby. I typically try my best to stay in the neighborhood but I absolutely want to be within a half mile (or mile if necessary) and want to compare to sold homes in the past 6 moths (12 if necessary) that are close in size and condition to yours. Then we can factor in the condition and features of your home vs. that of the ones that sold recently.
Now we can look at a little wider area to see what options are currently on the market and available to buyers. At times we find that there is room between the sold comps and what homes are currently listed for. This may allow room for you to increase your price and still be the most attractive option for a buyer.
Finally, we take in to consideration how buyers search and their pre-approval increments. Most buyers operate in $25,000 or $50,000 increments. Internet sites are set many times for those increments and many times buyers get pre-approval letters in $25,000 or $50,000 increments based on their purchase goals. So, if statistically your house looks like you should list it for $285,000 and there is low inventory in your hyperlocal area then you may be able to push a little higher to $300,000 and get it.
Of course, if you would like someone to do this analysis for you just let me know. I do it for free and with no requirement to list your home. Just DM me, give me a call, or click here to request an appointment.
What is Hyper-local absorption rate and what does that mean to the value of your home?
One of the main factors in pricing your home as well as in how long you should expect it to take to sell is your hyper-local absorption rate. To calculate it we take all of homes sold in an area in a certain time period to and then look at current inventory so that we understand the supply and demand of homes like yours.
For example- if 60 comparable homes sold in your area in the past 12 months (5 per month on average) and there are currently 10 listings then we would say we have a 2 month supply of inventory considering it would take 2 months to sell 10 listings at the 5 house per month average rate.
So a property in an area with a 1-2 month supply can expect to potentially sell for slightly more than comparable properties as prices typically rise when demand heavily exceeds supply. If your area though has a 9 month supply you may be need to be more aggressive in pricing if the quickness of sale is important.
If you would like to know more relative to your home’s value just give me a call, send me a DM, or click here to request an in home appointment.
Closing costs for selling a home in Florida
Closing costs in Florida for home sellers is made up of a few fixed costs as well as some variable costs based on the date of the closing as well as title company closing fees. In general a seller will most commonly have the closing costs of
Government Doc Stamp Taxes ($0.70 per $100)
Title Insurance policy is based on the sales Price:
- $575 for the first $100,000
- $500 for each additional $100,000 up to $100,000,000
- $250 for each $100,000 up to $5 million
- $2.25 for each $100,000 up to $10 million and then
- $2.00 per $100,000 after $10million.
Real Estate Agent Commissions (typical commission are in the 5%- 7% range but are fully negotiable and may at times be based on the level of service you receive from the listing broker/ agent.)
Title Company closing fees (Typically $350- $700)
lien and title search fees ($150-$300)
HOA Estoppel- this is a document that many HOA’s charge for. This shows there are no leans or back HOA dues owed. If required the cost is usually $200- $600
Also you will be prorated on an estimate of property tax for the year (it is common for them to use last year’s tax amount.) This proration will be based on the number of days in the year that you owned the property.
Some of these costs can vary and some are requirements. Make sure you ask your Realtor® to go through all these costs with you. There are other small fees that can vary from title company to title company but the overall cost on them should be minimal.
Below is an example of a Net analysis from a $300,000 sales price on a property in an HOA managed neighborhood
$300,000 Sales Price
$2100 - Doc Stamps
$1575- Title Policy
$18000 - realtor fees (assuming 6% commission)
$500 – Title closing fees
$100 - Title Search
$150 – County Lien Search
$250 – HOA Estoppel
$2500 – Property Tax Credit to Buyer (Assuming $5000 annual property tax and a closing half way through the year.)
$274,825 Net Proceeds
If you are thinking of selling and would like a net analysis of your property you can send me a DM, give me a call 321-312-0545, or schedule an appointment at www.mcbarnettgroup.com/selling.
Click Here- if you would like to see an estimated net proceeds analysis for your property.
***Closing costs can vary. The above should be not be used as an exact estimate as that can only be determined by a title company once a sales price and closing date are known.