Why aren't homes selling in Lake Mary? (and a few more questions from a newbie) (Orlando: appointed, to rent)

[JOMA]

Hi. New here.

I would love to get some help and answers!

We are planning to relocate to Orlando from Ohio in a few months. Dh will probably move down around May 1 with us to follow when school's out in early June. I've looked around this board for a few days and it seems like the Lake Mary area would be good for a young family with children. We have four kids, ages 8, 5 and 15-month-old twins. DH's job is in North Orlando - but he will need to work in other parts of the city as well. Schools are the biggest priority, but shopping, parks, restaurants, etc. are also important.

We're looking for min. 4/2 with a pool, price range, $250-300. I was looking at MLS listings for the Lake Mary area and it seems like there are a lot of houses that have been sitting on the market for many, many months. Several for 6+. And most have had drastic price drops - $30,000-$75,000 reductions. Is this just a result of the housing bubble, or is this a sign that LM isn't as desirable as it used to be?

I know the advice here will be to rent first, but the thought of moving twice with four kids is an overwhelming thought. We would like to be settled in a house before the kids start school in the fall and I think that it would be difficult to rent and buy in the same elementary district. This move will be traumatic enough for our oldest (the only way I can bring up moving to Fla. without sparking tears is to promise her a pool in the backyard. )

Also, what can you tell me about HOI rates in Central Fla.? I know they can be insane on the coast. We're currently paying around $600/year for a $240,000 house. I'm assuming that will at least double in Orlando? Oh, and silly Northerner question, do any houses in Orlando have basements? I'm guessing not, but wanted to make sure.

Thank you!

[cfIfan]

Alot of people advice to rent, but to be perfectly honest, i wouldnt want to with 4 children. Your not buying as an investment but as a home, so i recommend, if you can find something that falls into your budget, then go for it. There is alot out there aggressively priced.

I would recommend you consider the following. If your DH is going to be working in North Orlando most of the time then Lake Mary might be a great area for you. If he will only be there part of the time, then i would suggest looking else where as Lake Mary is quite a way North of Orlando, and if he is going to be travelling all over,, then you really need to be centrally located. I have a number of communities i could recommend to you, it just depends on what DH schedule would be for areas he would be at. hen are you intending on coming down to take a look at areas and properties, because i think you would have to do that so as to get a good impression and make a well informed decision?

[Crane's Rooster]

One thing about Lake Mary is that some areas that are called Lake Mary are not necessarily the desirable area (school district) that most people think of when they are thinking of Lake Mary. Some of these areas, for all practical purposes, are really more Sanford than Lake Mary. It may be that the homes in these areas are the ones staying on the market. The desirable part of Lake Mary is anything that makes reference to Heathrow, Wekiwa, Markham Woods and anything that mentions Lake Mary School District.

[Fnix]

Because there are no good paying jobs for people to buy the Mansions.

[bdpop]

Originally Posted by Crane's Rooster

One thing about Lake Mary is that some areas that are called Lake Mary are not necessarily the desirable area (school district) that most people think of when they are thinking of Lake Mary. Some of these areas, for all practical purposes, are really more Sanford than Lake Mary. It may be that the homes in these areas are the ones staying on the market. The desirable part of Lake Mary is anything that makes reference to Heathrow, Wekiwa, Markham Woods and anything that mentions Lake Mary School District.

Some people moving here from out of state may not realize that the schools are set up here are by county rather than by city or town as they are in many other states (especially the northeastern states). This may mislead people into thinking just because they are moving to Lake Mary means their kids will be going to school in Lake Mary, which is not always true.

[JOMA]

Originally Posted by cfIfan

Alot of people advice to rent, but to be perfectly honest, i wouldnt want to with 4 children. Your not buying as an investment but as a home, so i recommend, if you can find something that falls into your budget, then go for it. There is alot out there aggressively priced.

I would recommend you consider the following. If your DH is going to be working in North Orlando most of the time then Lake Mary might be a great area for you. If he will only be there part of the time, then i would suggest looking else where as Lake Mary is quite a way North of Orlando, and if he is going to be travelling all over,, then you really need to be centrally located. I have a number of communities i could recommend to you, it just depends on what DH schedule would be for areas he would be at. hen are you intending on coming down to take a look at areas and properties, because i think you would have to do that so as to get a good impression and make a well informed decision?

Thanks. I really think his job will be predominantly located in North Orlando/Altamonte Springs area. Travel to other areas won't be on a daily basis. We're planning to visit for a few days in April to take a look around. We still have to sell here.

Originally Posted by Crane's Rooster

One thing about Lake Mary is that some areas that are called Lake Mary are not necessarily the desirable area (school district) that most people think of when they are thinking of Lake Mary. Some of these areas, for all practical purposes, are really more Sanford than Lake Mary. It may be that the homes in these areas are the ones staying on the market. The desirable part of Lake Mary is anything that makes reference to Heathrow, Wekiwa, Markham Woods and anything that mentions Lake Mary School District.

Thanks for that information. I am specifically looking at homes in the LMSD. I'm seeing houses that have been on the market for 13+ months and have dropped in price $60,000 in that school district.

Originally Posted by Fnix

Because there are no good paying jobs for people to buy the Mansions.

Mansions? I'm really only looking at 4/2 homes of around 2000 sf. That's average-size around here. . . . Frankly, I'm surprised that the houses in the Orlando area are so reasonable. We live in a small Ohio town and our home prices are fairly comparable . . . we don't have a screen-enclosed swimming pool in our backyard, though.

Originally Posted by bdpop

Some people moving here from out of state may not realize that the schools are set up here are by county rather than by city or town as they are in many other states (especially the northeastern states). This may mislead people into thinking just because they are moving to Lake Mary means their kids will be going to school in Lake Mary, which is not always true.

Good to know. Thanks.

So, any other desirable areas in North Orlando I should add to the search? Oviedo? Heathrow? Sanford? Winter Springs? Are any of these places as desirable as LM (schools, community, etc. )?

And am I right in assuming no basements because of the water table?

[right-here-i-say]

Don't be afraid to offer 10 to 30% lower on a house. Somebody will bite.

[Crane's Rooster]

I would definitely look into Altamonte Springs/Wekiwa/Sweet Water area. Same convenience for North Orlando area. However, it is a little more developed and more congested, some see this as a plus others a negative, depends on the person. Personally I like Altamonte better because it's a busier place with more going on. Lake Brantley is a great school district which is comparable, if not better (I'm a partial...Go Patriots!) than LAke Mary. You should be able to find the home your looking for in the same price range in this area. Hope this helps.

[beckycat]

I think it's the housing bubble. Lake Mary is a very desirable area. I've lived here for 8 years and I really like it. Everything is convenient, safe, and good schools. Look on Sperling's. The crime rate is low. You do want to check the schools though. Just b/c you live in Lake Mary, doesn't mean you go to LM schools. Just make sure it's LM High and the western cluster is good for elementary, and Greenwood, Rock Lake or Markham for middle. You'll be fine then. You can also try bordering Longwood which includes LM schools. IMO I really thinks it's the bubble causing the problem b/c this area is just fine. I'm sure you will not be dissappointed! The only thing we didn't like when we first moved here was the lots are very small.

[JOMA]

Thank you so much for all the information. I'd rather have less busy and less-congested, so I think Altamonte Springs is out. We haven't lived in a "city" for six years, so traffic is going to be a big adjustment! And thanks for all the tips on the schools, Beckycat!