Reunion Resurgence

Reunion Resort and Golf Club is experiencing a resurgence in popularity and home sales. With law suits alleging developer fraud and banking irregularities, Reunion was harder hit by the economic downturn than most other new developments. Fears of what was to become of the unparalleled landscape, three signature golf courses, and multi-million $ water park coupled with management issues and economic times had it's mostly investor owners dumping property onto the market and sending keys back to their lenders in droves. Homesites that had sold for over $500,000 were hard pressed to resell for $100k. $2 million dollar homes were selling for $500,000. Condos that had sold for $675,000 are on the market for 1/4- 1/3 of their original prices. Even auctions were unsuccessful at finding buyers at any reasonable price.

We are on the inside looking out, and while sales statistics are not yet bearing the results, we can comfortably tell you that serious inquiries are becoming significantly frequent.

Lupert Adler, the financier for this mega resort, has brought a property manager in to quiet the turmoil and stabilize the community. They have done so quite competently and confidence is being restored. As the European buyers re-enter the Florida market, Reunion is sure to provide them with soft landing.

Over the past few years we have often been asked if we thought Reunion would survive... our response has been unwavering. It takes about 25 years to conceive and develop such an undertaking. Finding the land, developing the plan, getting the zoning passed, infrastructure takes years & years, and then there is the sales and building process. In this amount of time you are certainly going to hit a bump in the cycle (or two) before maturation. Meanwhile, there are no current plans for another development in our area of this magnitude - so for at least a generation - Reunion is a stand alone community, unsurpassed in quality. It certainly will survive, and (in our opinion) this is an absolutely an opportunity.

As Prices are Falling, Sales Rise

According to the Florida Association of Realtors while interest rates and home prices are down, sales are up significantly over this time last year. Orlando is outperforming the State as a whole.

Interest rates have come down from an average of 6.43% in July 2008 to 5.22% in July this year.

Median sales price for existing homes decreased 24% in the State (from $193,800 to $147,600), and sales volume increased by 37% statewide year over year (July).

By comparison Orlando's median sales price decreased a bit more - 35.1% (from $208,000 to $135,000). Home sales by Realtors in Orlando increased by 45.11% July 2009 over 2008.

Evidently, the market believe prices and interest rates (which are at 2003 levels) are a "buy." While we doubt the real estate environment will become feverish as in the past - this only forecasts an illness (as the word feverish indicates) - economists generally concede that our economic recovery will start in Real Estate.

The foreign exchange rate remains favorable and with a banner year for weather, Florida is a favorite for International second homebuyers and we are seeing a resurgence of interest from buyers in Europe. Their economies have already begun their recoveries and so Florida is now viewed as a buying opportunity.

Only time will tell, but we are cautiously optimistic.

Winderemere's Festival Among the Lakes

This year's Festival Among the Lakes was a bit wet, but local enthusiasm was far from dampened. Attendance seemed strong despite the rain people just took "duck and cover" under the pavilion where the aroma of barbecue created it's own kind of frenzy... The Zydeco kept playing. Kids slid and spun on the rides while their parents checked out the boat show and hoped to win the 19' Regal Boat Donated by BoatTree. There was a wake boarding competition and the big sponsor, new custom home development: Waterstone, offered free boat tours up to Lake Butler (and back). All in all, weather aside, this was a very successful community event that truly speaks for Windermere's spirit. Musical, friendly, family oriented, about the lakes, and above all - charity. The event proceeds will be donated to Habitat for Humanity's "Home At Last" - they will be building a home for a disabled veteran and his family.

                                                                                    

Just a (plane) hop away resides paradise. Miami born and bred, the ocean feeds my spirit. The Bahamas are a stunning archipelago in a shallow, powdery sanded, clear watered area just a breath away from Florida. Accessible by an afternoon boat ride or brief flight (take off and landing seem to be nearly simultaneous), I opted to bring my son (Max) to Old Bahama Bay on the West side of Grand Bahama Island, now part of The Ginn Company’s Hospitality Group. A client had purchased an ocean front lot in the adjoining Ginn sur Mer not long ago & I decided it might be a good idea to check it out for myself.

Ginn Sur Mer is a “Fly In” community, meaning they have their own airstrip… much more convenient that flying into Freeport/ Nassau, then dealing with airport security, check-in, baggage claim, etc. It’s surprisingly affordable too… about $2 grand each way for the plane, but that seats six. When you compare it to commercial, it’s a bargain really. The airline assistant took my bags (no weigh-ins, limits, etc.) and parked my car. A continental breakfast was served while my luggage was loaded and BAM! Just like that, we were off! The flight was short, the approach was filled with anticipation, and the arrival was the perfect segue to a completely relaxing week. Customs was more like a greeting than the usual inquisition and an SUV met us to whisk us the 300 yards or so to the Old Bahama Bay check in lobby.

Max loved the room which was new and lovely. Wall to wall travertine (and up the walls) in the well appointed bath. I liked the mini kitchen with full refrigerator, two burner glass cooktop, microwave, and coffeemaker set in custom built cabinetry. The Beach view was divine, pool and beachside café were only steps away. This is not an all-inclusive resort, but basics such as snorkels and fins, bikes, Hobie Cats, kayaks, DVD’s, games, etc. are gratis. Meals are very reasonable. But if you want to venture off property, know that it is a good 30 minutes to Freeport and (unless you want to gamble at the Westin) …it’s, eh… not so great and the taxi will run you $120 rt.  Max & I were happy just to tool around on bikes, flip flop around snorkeling, meet people staying overnight at the marina, and so on… this was a truly relaxing time. There are dive expeditions, massages, a great fitness center, you can golf, or so many other things to do. Everyone seems to accept USD$, so you can bring cash to tip, etc.

On our last day there, I toured the property with Cameron Kimball who took me out to see my client’s lot, which was accessible only by 4x4. The site work that's been done is astonishing. Ginn style, the golf is already going in before the first home, and the landscaping is beginning to take shape. My client told Cameron before closing that he didn’t want to pay $1.2mm for the lot… but that he didn’t want to pay $2mm for it either… and that’s where he knew it was headed. And so with that thought in mind, he bought the lot in this most spectacular peninsular location.

The trip home was better than the trip to Ginn sur Mer because Max, (only seven years old) got to ride in the cockpit, in the co-pilots seat. That was worth the price of the entire trip!

Whether you’re looking for a quick getaway, a long relaxing holiday, or to purchase a second home; I highly suggest you look into this spectacular place. Write me if you want details of who to contact, etc. karan@internationalgolfandbeaches.com.

Happy Holidays to All, and to All a Healthy, Happy and Prosperous New Year!!!

It's been a year of transition and travel. Gloria (mom) & I joined the Windermere office of Stirling Sotheby's International Realty in November 2006. What struck us immediately (besides the obvious stature of the brand and marketing) was the welcoming and (often) familial environment imbedded in Stirling's corporate culture. The weekly office meetings are standing room only and the monthly all agents meetings typically attract well over 200 agents. If you are in Real Estate - you know what a feat that is. Roger & Tansy Soderstrom are the charismatic founders/owners. We are honored to be affiliated with this ground breaking company. We made two trips to the U.K., one to the Dominican Republic, Switzerland (Happy Birthday Alex), Italy, and France, Scottsdale & Palm Springs. Everywhere we went people would ask when the real estate market in Florida would hit bottom... (ahem). I'm hoping it has, but there are so many moving parts to this world-wide debacle... who knows - truly nobody.  Run ten miles in the opposite direction from anybody who purports to.

Orlando Neigborhoods

My name is Karan Wienker, a blogger with a past. I’m 45 years old, a Florida native, and have life references from Studio 54, CBGB’s, and Mudd Club to Wall Street, Hollywood to Marketing, Fashion to Graphic Design. I’ve spent real time in four continents and eight years ago relocated to my hometown of sunny Orlando, Florida in Windermere.

Real Estate has always been a knack, when I returned to Windermere it became my career path and passion. Having won “Rookie of the Year” when I first started I was well on my way and have also been awarded the prestigious Platinum Service Award for the last four years. Recently, I was asked to participate as a panelist at The Luxury Conclave in Palm Beach, Florida. This group consists of the top 200 Luxury Real Estate Agents in the United State’s and is by invitation only. It was held in the Four Season’s Resort in Palm Beach and was sponsored by The Wall Street Journal, The Institute for Luxury Home Marketing, Unique Global Estates, and Unique Homes Magazine. Other esteemed panelists included The Economics Editor of The Wall Street Journal, Greg Furman of Furman Communications, Dr. G. Clotaire Rapaille, and (of course) Kendra Todd – most recent Apprentice for Donald Trump who is renovating and listing the world’s most expensive residence for $125 million.

This web site is dedicated to providing my best advice and information about life and style in this most surprising city.

You are (of course) welcome to, and it is hoped that you will visit our company web site: International Golf and Beaches Realty (link to: www.internationalgolfandbeaches.com).

If you are visiting, moving, or investing in Orlando you will find vital information regarding trends, neighborhoods, business, entertainment, social events, and just about anything you will want to know.

My focus is on Windermere, Dr. Philips, MetroWest, and Winter Garden. I do a lot of business in Isleworth, Lake Butler Sound, Keene’s Pointe, Belmere, Phillips Landing, Bella Collina, and Reunion. Holiday Homes to buy and let are generally in the Disney areas including Kissimmee, Davenport, and south Clermont. They are specially zoned, but we’ll get into that in other articles.

For now... Welcome!