Where To Purchase for $200,000??? (Orlando, Altamonte Springs: short sales, real estate, foreclosures)

[AmyLiz]

I have found this forum most invaluable, and want to personally thank all of the regular contributors. I follow these threads periodically, because I am planning a move to the Orlando area. I have just put my house on the market, and hope to sell within the next few months.

I will have around $200,000 (hopefully) to use for the purchase of a single family home for myself and family. There are three of us. I work online from home, so commute to work is not a concern. I would like to be in an area that is first of all, safe. My son will be in high school, so a top notch school is important. My other son may go to UCF--a commute of 25 miles or less would be okay. We like the attractions, but do not have to necessarily live close to them--within 25 miles would be okay though. I want to be close to Costco, Whole Foods, and Trader Joe's--hopefully within 10 miles or less. I would like to have at least 2000 square feet, but could settle for a little less if the house was special. I don't want to be in a rural area. I would rather not have a HOA fee (very low, if any).

My questions are: Where would you put your money--specifically, what area? Is it possible to get into a good upper middle class neighborhood for that kind of money? If not, where are the best middle class neighborhoods for that amount? Could some of you give me some perimeters of the good safe areas that include hwy or street names? Are the property taxes higher in Orange or Seminole county?

My search so far has been overwhelming. Orlando is so big. I have looked at some of the properties in these areas: Dr. Phillips--maybe to much for my budget, eastern side of Winter Park--looks not so good, Casselberry--not sure what areas are best, Longwood--not sure what areas are good, and the same goes for Altamonte Springs and Maitland.

I hope that you all can help me to narrow down my search. I am so grateful to you all for your service to all of us who want to move to Orlando.

[kyle19125]

The short answer is "no" in terms of solid upper-middle class neighborhoods at 200K in this area, unless dealing with foreclosures or short sales. 200K will get you into solid middle class neighborhoods that are safe and have very good schools. Check out the Lake Howell area which encompasses much of Casselberry and parts of NE Winter Park (mostly along either side of Red Bug Road east of SR436) AND Lake Kathryn Estates which is north of Lake Kathryn and east of US17-92 AND the Deer Run community which is north of Red Bug Road and south of Lake Avenue (basically a large oval with Eagle Circle as the main thoroughfare), in Longwood (check out the pocket west of SR427, south of EE Williamson, east of I-4 and north of SR434), in Altamonte Springs (check out the area south of SR434, east of I-4, west of Palm Springs Dr and north of Central Parkway AND the area south of SR434, west of I-4, north of SR436 and east of Lake Brantley Road)

[AmyLiz]

Originally Posted by kyle19125

The short answer is "no" in terms of solid upper-middle class neighborhoods at 200K in this area, unless dealing with foreclosures or short sales. 200K will get you into solid middle class neighborhoods that are safe and have very good schools. Check out the Lake Howell area which encompasses much of Casselberry and parts of NE Winter Park (mostly along either side of Red Bug Road east of SR436) AND Lake Kathryn Estates which is north of Lake Kathryn and east of US17-92 AND the Deer Run community which is north of Red Bug Road and south of Lake Avenue (basically a large oval with Eagle Circle as the main thoroughfare), in Longwood (check out the pocket west of SR427, south of EE Williamson, east of I-4 and north of SR434), in Altamonte Springs (check out the area south of SR434, east of I-4, west of Palm Springs Dr and north of Central Parkway AND the area south of SR434, west of I-4, north of SR436 and east of Lake Brantley Road)

I cannot begin to tell you how helpful this post is. This is exactly what I needed to narrow my focus. It is just so hard to go into a desirable school district blindly without knowing specifics of a certain neighborhood. I will use these descriptions when I am looking on the map.

I am open to foreclosures and short sales and know the process of purchasing both. I bought my last house on a short sale. It is good to know that a upper middle class neighborhood may be found by purchasing that way. What upper middle neighborhoods might be good prospects for this type of scenario?

Does anyone know about the property tax comparisons of Orange county and Seminole county?

Which neighborhood is preferable for my price range--Longwood, Altamonte Springs, Casselberry, North Winter Park, Lake Howell,....?

[kyle19125]

As the area among the few highest in the country in terms of financially distressed properties for the past several years you'll have no problem finding homes in most any neighborhood. In terms of upper middle class areas at 200K (or less) even in the short sale/foreclosure realm is going to be quite difficult. Perhaps a couple years ago at the height of the housing crisis but not so much anymore. The solidly established middle class neighborhoods (minus every third or fourth house looking rundown) with very good schools tend to average above 200K (225K-ish), so even at the traditional approach to buying you're a good bit under the bar in terms of price. In terms of additional areas you might also check out Winter Springs (east of Tuscawilla Rd, south of SR 434, west of the 417 and north of Red Bug Rd).

[AmyLiz]

I actually do not know at this point how much I will have to put back into a house. I could have more than 200,000 depending on how much my home sells for. I do not want to put it all back into another home however, especially with real estate being so volatile. Finding a safe neighborhood is the most important thing.

Thank you again, Kyle!

[Crane's Rooster]

I can respond for Altamonte as that as the area I know best. The best area of Altamonte is west of I4 and north of 436, commonly known as Westmonte. There are 2 larger neighorboods, Spring Oaks off Montogomery & 436 and San Sebastion off 436 & 434 which are solid middle class neighborhoods within your price range. The homes will be about the size you're looking for, you may even be able to find some larger than 2000 ft. The area is zoned for Lake Brantley High School which is a very good academic, athletic and arts school. It would be about a 30-40 minute commute to UCF. It's also a very convenient area, Costco, Target, Wal-Mart, Best Buy, Publix, Winn Dixie, Kohls, Home Depot, Loews, and the Altamonte Mall all within 3 miles. Easy access to I4. Many back roads to use as well as a Sunrail Station on the other side of town. Nice parks and recs centers abound. Good bike trails, more established area with nice shady oaks, close to the springs. Great area that would meet your needs.

[AmyLiz]

I always love to read your posts, Crane's Rooster. You are so informative about the whole area. This information is very useful. I will look there for homes. I have read that Lake Brantley High School is very highly rated. I also love the big oak trees.

[Crane's Rooster]

Originally Posted by AmyLiz

I always love to read your posts, Crane's Rooster. You are so informative about the whole area. This information is very useful. I will look there for homes. I have read that Lake Brantley High School is very highly rated. I also love the big oak trees.

Thanks!!! Sometime I feel like posting on here is like a video game and forget there actual real people behind these posts. It's glad to know I could be helpful.