Heathrow questions (Orlando, Plantation, Sanford: for sale, real estate market, HOA fees) - Florida (FL) - City-Data Forum

joesupra · 12-09-2009, 04:53 PM

I'm relocating next year because my job is moving to Lake Mary. I have been searching real estate listings in Heathrow, many come up with a Lake Mary address. Are the two towns that close to each other? Also many of the houses are so called gated communities. Can someone please explain what exactly living in a gated community entails? Are there different types and degrees of gated communities. Finally what are the differences between Oviedo and Heathrow? Thanks.

beckycat · 12-09-2009, 05:29 PM

Heathrow is a subdivision in Lake Mary. There are different types of gated communities. Most depend on what amenities they have. You have to pay an HOA and let me tell you Heathrow is NOT cheap at all. The HOA regualtes everything from the color of your house to making sure ppl mow their lawns to what type of landscaping you can use and more.

joesupra · 12-09-2009, 06:06 PM

Thanks beckycat. At this point all I can do is surf houses on the net, what I really need to do is get down there drive around and get a feel for neighborhoods. I'm afraid my current house in NJ has spoiled us. We live on a quiet cul de sac with a basket ball court in front of the house that we use daily. I guess that would be a no no in a gated community. If we want to do some type of home improvement we just do it we don't ask for permission. I hope there will be enough choices down there that are not gated communities.

beckycat · 12-09-2009, 06:50 PM

Quote:

Originally Posted by joesupra

Thanks beckycat. At this point all I can do is surf houses on the net, what I really need to do is get down there drive around and get a feel for neighborhoods. I'm afraid my current house in NJ has spoiled us. We live on a quiet cul de sac with a basket ball court in front of the house that we use daily. I guess that would be a no no in a gated community. If we want to do some type of home improvement we just do it we don't ask for permission. I hope there will be enough choices down there that are not gated communities.

There are plenty of choices, don't worry.

aneftp · 12-09-2009, 07:38 PM

Quote:

Originally Posted by joesupra

I'm relocating next year because my job is moving to Lake Mary. I have been searching real estate listings in Heathrow, many come up with a Lake Mary address. Are the two towns that close to each other? Also many of the houses are so called gated communities. Can someone please explain what exactly living in a gated community entails? Are there different types and degrees of gated communities. Finally what are the differences between Oviedo and Heathrow? Thanks.

I am a Heathrow resident. Florida in general is known for their "nazi" HOAs. As beckycat stated, living in a gated community means you have to abide by HOA rules.

I've had no issues with the Heathrow HOA. It's actually a very well run HOA. When we moved in we just filled out a form to the HOA to get some landscaping bushes placed. It's no big deal. We live in a very quiet neighborhood in Heathrow. 4 of our neighbors have have basketball courts in the driveway for the kids to play.

The HOA dues run around $2000 a year (around $175 a month). That seems high to outsiders but Heathrow is a gated community with live guards at their 2 main entrances. So you have 24 hour security and the security patrol cars goes around a nighttime scrolling the neighborhoods. They've actually called our home a couple of times because my wife forgot to close the garage door. Heathrow is very safe. You will like living here. Plus your personal home security system is included in the $175 a month HOA fees.

Since it's big community, there are ranges in prices. You can get into homes from $300K-2 million. We came from the Washington DC area so these homes looked very affordable compared to DC (I'm sure you will feel the same way coming from NJ).

Ovideo is also a nice place to live. Although it's not considered on par with Heathrow. There are good public schools in Ovideo as well as Heathrow/Lake Mary. Heathrow technically is "Lake Mary" since it's unincorpoarted.

The more expensive parts of Lake Mary are on the "west side of Interstate 4" Look on Google Maps on Lake Mary. Homes on the West side of Interstate 4 are more expensive.

If you are considering Heathrow, you should also consider Magnolia Plantation in Lake Mary. If you want to go even more upscale, than consider Alaqua and Alaqua Lakes. Parts of Sanford (west of Interstate 4) are also very nice gated community such as Lake Forest.

In terms of the overal real estate market in Orlando, the lower price homes (those in the 100-300K range) have pretty much hit bottom and stabilized. the higher end homes are starting to stabilize. You may get a very good deal looking for homes in the 500-800K range (I'm not sure what your budget is). I know this because my wife is very good friends which our real estate agent.

The reason is because Orlando has a cutoff of 417K in terms of jumbo/non-jumbo loans. In DC/NJ other expensive parts of the country, the jumbo/non-jumbo loans can go all the way up to 729K (which can be resold to the governnment).

Why is this important? Say you buy a home for $600K in Lake Mary. If you put down 20% (120K) you will get a mortgage of around $480. You will still in jumbo loan terrority. Why does this matter? Because the jumbo loan market is horrible. You won't get those 4.75% interest rates with jumbo loans even with 20% down. You will be looking at 6-7% interest rates. That's why those higher end homes are still moving very slowly in the Orlando area. No one wants to put down $200K on a 600K home. Most of those people will just pay all cash for those homes.

You should keep that in mind when looking at homes in the Orlando area. Hope that helps.

Trivettes · 12-11-2009, 07:22 AM

Quote:

Originally Posted by joesupra

Thanks beckycat. At this point all I can do is surf houses on the net, what I really need to do is get down there drive around and get a feel for neighborhoods. I'm afraid my current house in NJ has spoiled us. We live on a quiet cul de sac with a basket ball court in front of the house that we use daily. I guess that would be a no no in a gated community. If we want to do some type of home improvement we just do it we don't ask for permission. I hope there will be enough choices down there that are not gated communities.

My late father's house (which we still own but will be for sale soon) is in a HOA across from Heathrow, and is on a very quiet cul de sac. So there are places in or near Heathrow that will remind you of your home in NJ.

As for a basketball court, I would imagine that would be no problem in an HOA similar to my dad's as long as it's in the back (since the driveway snakes around to the back of the house and is quite large). Other people have tennis courts in their back yards. So, what I'm saying is, it would depend on the HOA.
Btw, my late dad's home is across from Heathrow (in back of a lake & farm which is across from Heathrow) but has a Longwood (not Lake Mary) address. Go figure. Anyway, if you're looking in the Heathrow area don't discount a Longwood address 'cause it depends on where it's located. There are lots of homes for sale in my dad's subdivision, just with a Longwood address.

russ1954 · 12-13-2009, 11:28 AM

I would recommend looking at Woodbridge Lakes or Manderley neighborhoods in Lake Mary.

Broker Dave · 12-13-2009, 12:00 PM

Pay attention to school zoning if this is a focus, just because it has a Lake Mary address doen't mean Lake Mary schools, something most find out months into a search or after a purchase.

Heathrow is a bit high with their HOA but havn't run into any real negitive comments with the buyers I worked with who bought homes in the neighborhood. They wanted a guard gated entrance and were willing to pay the difference.

My wife and I have family all along Markham Woods Road with Lake Mary, Longwood and Sanford address's and all are great areas.

We also have family in the Winter Springs Tuscawilla area and that would be a great choice offering gated and non-gated (no guard).

Hope this helps,

ncmom8600 · 12-31-2009, 06:05 PM

Quote:

Originally Posted by aneftp

I am a Heathrow resident. Florida in general is known for their "nazi" HOAs. As beckycat stated, living in a gated community means you have to abide by HOA rules.

I've had no issues with the Heathrow HOA. It's actually a very well run HOA. When we moved in we just filled out a form to the HOA to get some landscaping bushes placed. It's no big deal. We live in a very quiet neighborhood in Heathrow. 4 of our neighbors have have basketball courts in the driveway for the kids to play.

The HOA dues run around $2000 a year (around $175 a month). That seems high to outsiders but Heathrow is a gated community with live guards at their 2 main entrances. So you have 24 hour security and the security patrol cars goes around a nighttime scrolling the neighborhoods. They've actually called our home a couple of times because my wife forgot to close the garage door. Heathrow is very safe. You will like living here. Plus your personal home security system is included in the $175 a month HOA fees.

Since it's big community, there are ranges in prices. You can get into homes from $300K-2 million. We came from the Washington DC area so these homes looked very affordable compared to DC (I'm sure you will feel the same way coming from NJ).

Ovideo is also a nice place to live. Although it's not considered on par with Heathrow. There are good public schools in Ovideo as well as Heathrow/Lake Mary. Heathrow technically is "Lake Mary" since it's unincorpoarted.

The more expensive parts of Lake Mary are on the "west side of Interstate 4" Look on Google Maps on Lake Mary. Homes on the West side of Interstate 4 are more expensive.

If you are considering Heathrow, you should also consider Magnolia Plantation in Lake Mary. If you want to go even more upscale, than consider Alaqua and Alaqua Lakes. Parts of Sanford (west of Interstate 4) are also very nice gated community such as Lake Forest.

In terms of the overal real estate market in Orlando, the lower price homes (those in the 100-300K range) have pretty much hit bottom and stabilized. the higher end homes are starting to stabilize. You may get a very good deal looking for homes in the 500-800K range (I'm not sure what your budget is). I know this because my wife is very good friends which our real estate agent.

The reason is because Orlando has a cutoff of 417K in terms of jumbo/non-jumbo loans. In DC/NJ other expensive parts of the country, the jumbo/non-jumbo loans can go all the way up to 729K (which can be resold to the governnment).

Why is this important? Say you buy a home for $600K in Lake Mary. If you put down 20% (120K) you will get a mortgage of around $480. You will still in jumbo loan terrority. Why does this matter? Because the jumbo loan market is horrible. You won't get those 4.75% interest rates with jumbo loans even with 20% down. You will be looking at 6-7% interest rates. That's why those higher end homes are still moving very slowly in the Orlando area. No one wants to put down $200K on a 600K home. Most of those people will just pay all cash for those homes.

You should keep that in mind when looking at homes in the Orlando area. Hope that helps.

I have seen alot of homes in Magnolia Plantation for sale. Anyone know why? We like Lake Mary and being on a golf course for around $400K

nativefla · 01-01-2010, 09:35 PM

Quote:

Originally Posted by ncmom8600

I have seen alot of homes in Magnolia Plantation for sale. Anyone know why? We like Lake Mary and being on a golf course for around $400K

It only seems like a lot because it's a large subdivision. Not really a lot for sale from a percentage standpoint. There are around 25 homes for sale right now, with almost 500 homes in the subdivision. You can expect that at most any time.