Relocating & searching for trendy, modern, upper scale neighborhood. Any suggestions would be greatly appreciated! (Orlando: real estate)

[gucci]

This is my first post--I read existing posts on the subject of moving to Orlando, but none seemed to really answer my question. My husband's graphic design firm is relocating us to Orlando (the firm is located in Maitland, Orlando, but we can certainly live in the surrounding areas) and have absolutely no idea where to buy a home (east, west, north, south of Maitland?). We are 29 & 33 yrs old and want to have children in a few years. We are young at heart, love to get out and party and are interested in a modern, as upscale as possible young/20-40yr old, fun community. Right now we can afford $150-$200,000 home. I would love any suggestions --as I said, I'm completely in the dark about Orlando. Based on the forum, I've learned it's hard to find homes for under $200 that are decent and in safe communities. We do not have a real estate agent yet, we just found out we're moving and will leave in 6 months-year pending the sale of our condo. Thanks in advance for your help!

[compelled to reply]

Your requested sounded very Winter Park until (ouch) the cost! You aren't even going to find a condo for that price. I don't even know what to say, and that's a very expensive area. I can't think of an area with acceptable schools (with completely oblivion to commute or the "Cool" factor) where you can buy under 200 .

[gucci]

I appreciate the information--what if it was more like $200-$210--and it could be a more rural area, as long as we didn't live too close to any crime/bad areas and can drive to areas with cool things to do? Does this fantasy land exist? Thanks for being so honest.

[compelled to reply]

Originally Posted by gucci

I appreciate the information--what if it was more like $200-$210--and it could be a more rural area, as long as we didn't live too close to any crime/bad areas and can drive to areas with cool things to do? Does this fantasy land exist? Thanks for being so honest.

Hmm...I'm going to check realtor.com. I'm pretty familiar with the areas but I want to see how the prices are nowadays. I'm thinking maybe Debarry, but your I-4 commute isn't going to be much fun from there. It's relatively built up now (used to be the sticks!), but it's still very suburban, newer, not much to do in the immediate area. Not sure about middle and high schools, but elementary shouldn't be bad.

Single Family Home - DEBARY, FL, 32713 - Realtor.com

I also wouldn't recommend buying at this time, because you are talking about a fairly major loss. Rent until price correction comes in line with local incomes.

I also found this in Longwood, a little closer to work and play, much better schools. If I remember correctly Danbury Mill is near Lake Mary. Nicer overall area

Single Family Home - LONGWOOD, FL, 32750 - Realtor.com

[gucci]

Thanks so much--I truly appreciate your time and informative postings.

[kinglouix]

Originally Posted by gucci

This is my first post--I read existing posts on the subject of moving to Orlando, but none seemed to really answer my question. My husband's graphic design firm is relocating us to Orlando (the firm is located in Maitland, Orlando, but we can certainly live in the surrounding areas) and have absolutely no idea where to buy a home (east, west, north, south of Maitland?). We are 29 & 33 yrs old and want to have children in a few years. We are young at heart, love to get out and party and are interested in a modern, as upscale as possible young/20-40yr old, fun community. Right now we can afford $150-$200,000 home. I would love any suggestions --as I said, I'm completely in the dark about Orlando. Based on the forum, I've learned it's hard to find homes for under $200 that are decent and in safe communities. We do not have a real estate agent yet, we just found out we're moving and will leave in 6 months-year pending the sale of our condo. Thanks in advance for your help!

Maitland, Winter Park are your answers but not at that price. The housing market is depriciating 5% a month, so it would be foolish to buy anywhere now. You can get a solid rental for $1000 to $1400 in either of those areas. Sit for a couple of years and you will be able to buy in that range.

[compelled to reply]

Originally Posted by kinglouix

Maitland, Winter Park are your answers but not at that price. The housing market is depriciating 5% a month, so it would be foolish to buy anywhere now. You can get a solid rental for $1000 to $1400 in either of those areas. Sit for a couple of years and you will be able to buy in that range.

Great advice, couldn't have said it better myself.

[Alphaman]

I agree winter park is trendy but expensive rent from there and see if thats what you like.

[GregTraub]

The only things I can come up with in your price range that remotely match your criteria would be some new townhomes in winter springs across from their new towncentre...but not close to any clubs or anything. No where in orlando except downtown/universal city walk/DTDisney is there much of a night life. The best way I can describe the townhomes are modern/colonial, 3 stories, very upscale looking but a 2/2 with garage can be had for 190-210K. Just down the street in casselberry, a little closer to Maitland, there are also similar townhomes in that range, brand new, and very nice.

Single family homes in Casselberry in decent area's can be had below 200K as well.

Townhomes near Avalon Park's towncenter are now in the very low 200's, some 3 bedrooms. But it's a decent drive to maitland.

And in my own community right near Waterford Lakes shopping center there are 3/2 townhomes in the low 200's now.

Your not likely to find anything liveable in Winter Park for under 200. Maitland may have some ok neighborhoods in that range, but nothing really modern and upscale. There are some condo's in altamonte below that range, but are conversions from apartments, and would guide you as far away from those as I could.

Yes home prices are being pressured downward right now but they aren't going down 5% a month! That would equate to 60% a year! The pluses for buyer's in this market is that they have an innumerable amount of homes to choose from, and great deals are much easier to find. If we can find you a good deal when your ready to buy, and you stay in it for 3-5 years you are very likely to see a gain.

Only a personal consultation with a professional talking about your future career outlook, plans about children, current financial position, and likelyhood of staying in the area, can determine whether buying or renting would suit you better. To tell you the truth, in today's market, a lot of factors have to fall in place for you to justify buying, but it still makes sense in some situations. When your ready to move in 6-12 months, it could (and I expect it will) be a very different market.

Afterall, why buy when the market is up if you can buy when it's down?

[kastika]

check out foreclosures.

we just bought in a good neighborhood for $70,000 less than asking price, bringing us to well within our budget. you can find something but you will just have to look.