Some more extended thoughts on Orlando (Lakeside, Oviedo: upper-class, fit in, apartment)

[MrKnight]

Great to hear that you had a chance to explore some of Orlando!

I grew up in the Orlando area and moved up north several years ago due to a career relocation, I can tell you that Orlando is an INCREDIBLE city and I miss everything about it, in fact I miss it so much that I am currently trying to move back. I also personally know a handful of friends and colleagues that had previously moved away and have recently moved back to Orlando for the same reasons.

On your next visit I HIGHLY recommend that you visit the Orange County Regional History Center, this my favorite museum in Downtown Orlando and you will learn a lot about local history and interesting facts and exhibits.

[EditorJul]

Originally Posted by StreetSmarts

in many parts of Windermere (the new area that is exploding with growth) is actually cheaper (per sq foot) than Oviedo is.

I'd love to see where you're getting the information on that. Looking at Realtor.com, right now here's the cheapest SFHs I'm seeing in Windermere:

$218K for a bank-owned as-is sale that needs work
A few in the $220K range (some conventional, some short sale)
And then a majority of the cheaper homes start around $250K
The highest price home currently listed in the new part of Windermere is $7.9 million (on less than 1 acre)

For Oviedo, here's the SFHs I'm seeing:
The cheapest one comes in at $59K (quite a steal at $23/sq ft and has acreage)
There are more than 50 listings under $175K
Most of the decent houses start around $190K
The highest price home I'm seeing in Oviedo is $2.35 million (on ~4 acres)

I quickly removed Oviedo from areas we were looking at when we started to get serious about house hunting because it was too far out on the boonies for what we like to do, so I don't know if there's a lot of houses that are included in Oviedo that are really "something else", but just looking at the hard facts, I'm not seeing things to bolster your claims.

[idr591]

Originally Posted by EditorJul

I quickly removed Oviedo from areas we were looking at when we started to get serious about house hunting because it was too far out on the boonies for what we like to do, so I don't know if there's a lot of houses that are included in Oviedo that are really "something else", but just looking at the hard facts, I'm not seeing things to bolster your claims.

I agree with most of your points, but feel that Windermere is also in the boonies.

[StreetSmarts]

Originally Posted by EditorJul

I'd love to see where you're getting the information on that. Looking at Realtor.com, right now here's the cheapest SFHs I'm seeing in Windermere:

$218K for a bank-owned as-is sale that needs work
A few in the $220K range (some conventional, some short sale)
And then a majority of the cheaper homes start around $250K
The highest price home currently listed in the new part of Windermere is $7.9 million (on less than 1 acre)

For Oviedo, here's the SFHs I'm seeing:
The cheapest one comes in at $59K (quite a steal at $23/sq ft and has acreage)
There are more than 50 listings under $175K
Most of the decent houses start around $190K
The highest price home I'm seeing in Oviedo is $2.35 million (on ~4 acres)

I quickly removed Oviedo from areas we were looking at when we started to get serious about house hunting because it was too far out on the boonies for what we like to do, so I don't know if there's a lot of houses that are included in Oviedo that are really "something else", but just looking at the hard facts, I'm not seeing things to bolster your claims.

I'm talking new construction.

[StreetSmarts]

I'd rather be "in the boonies" anyway. Its not "in the boonies enough" really. All the UCF/E Orl is right at our back door. Crime, congestion, etc will only increase.

[EditorJul]

Originally Posted by idr591

I agree with most of your points, but feel that Windermere is also in the boonies.

It depends what you're looking for. For day-to-day stuff, everything I need is in walking distance. For once-a-week stuff, everything I need is in less than 15 minute drive. It's 15-20 minutes to pretty much any of the theme parks, 15 minutes to restaurant row, less than 30 minutes to the Loop, Millennia, or downtown Orlando. We're within walking distance to a nature preserve with hiking trails and about 15 minutes to the West Orange Trail. We've got two farmer's markets in the 15-minute drive range. But I do agree that if you're working on the north or east side of Orlando or travel to the airport or the AutoTrain often, those are not convenient. The airport is just over 30 minutes away and the AutoTrain takes me 45 minutes to get there. And if you are keen to embrace SunRail, then you're pretty much out of luck from Windermere.

[EditorJul]

Originally Posted by StreetSmarts

I'm talking new construction.

To compare apples to apples, the cheapest new construction townhomes I found in Ovideo are at The Hamptons Boardwalk by Ashton Woods. The cheapest one they have is $140/sq. ft.

Ashton Woods just started some townhomes in Windermere for Ashlin Park, and they're running $141/sq. ft., so certainly comparable.

The only other new home builder I see in Oviedo at this point is M/I Homes, and their least expensive home is $137/sq. ft.

For Windermere, there may be a couple closeouts in Summerport at that price (when I drove by today, I think they have 8 lots left), but aside from that, I don't think you'll find many at that price.

For Ashton Woods, SFH new construction in Ashlin Park is $143/sq. ft.
For Meritage, their web site is not up to date with what they're selling at for Windermere Trails (if desired, I can take a picture of their signage which has a bottom price listed much higher than what's on their web site). For Enclave, they're price is $195/sq. ft.
For Beazer, they have one model at $139/sq. ft.
For Lennar, in theory they still are advertising the manor houses, but I don't think they have any lots left for them. (They were at $136/sq. ft.) They do have estate homes at $152/sq. ft. in Windermere Sound, though.
For Cam Bradford, if you have to ask, you can't afford it.
For Standard Pacific, they're at $166/sq. ft. for Windstone.
On the other side of 535 the houses tend to be more expensive, so I didn't look those up, but that gives a good idea.

I know that the two villages of Horizon West that are in Windermere (Lakeside Village and the Village of Bridgewater) are probably about 10-15 years from being fully built out, which is why there's still so many new home options there. Looking online, it looks like the Ovideo area is about as fully built out as they are planning to get at this point?

[StreetSmarts]

^^^ There are like 7-8 communities coming up in the next few yrs. The're going to be in the low $400s for the most part. This will be an entry level price and homes with all the upgrades will be in the (almost) $200 per sq ft range, which is crazy in my opinion. I wouldnt pay that for anywhere in FL.

[EditorJul]

Originally Posted by StreetSmarts

^^^ There are like 7-8 communities coming up in the next few yrs. The're going to be in the low $400s for the most part. This will be an entry level price and homes with all the upgrades will be in the (almost) $200 per sq ft range, which is crazy in my opinion. I wouldnt pay that for anywhere in FL.

That sounds like Frederick, MD back in the day when people in the DC area decided that an hour-and-a-half one-way commute was acceptable if you could get more than a 1600-sq. ft. condo for half a million.

We picked an affordable house for this area and came in around $150/sq. ft., which we thought was a very good bargain, especially since we wanted a fireworks view and got an awesome one and had added on a swimming pool. With Orlando quietly becoming a tech hub, the only reason why houses get built at these price points is because people can afford them. I wouldn't say this area is becoming gentrified, because it is mostly new construction where this is happening, so I do hope that going forward there will be places for people of lower income levels or people just starting out.

[StreetSmarts]

^^^ the reason prices are high is because land is becoming more and more scarce. If I wanted to build a lot in Oviedo, I'd have to pay $80k for 1/2 an acre. Most of the money buying these homes in Orlando especially, are foreign buyers and/or investors. Or those from up north that came down after selling their house in NY or NJ. For hte most part, locals and longtimers are not buying these houses, its foreign families that have money saved up, or the NE folks who sold their house up in NY or NJ.

Trust me, if it werent for these two, the construction you see all around us would not be happening.