Golf Course Properties

‘For Sale’ signs go up at Isleworth

Isleworth has reigned as Orlando’s most prestigious address for more than a decade.

The lavish 300-home subdivision on the Butler Chain of Lakes near Windermere is, above all else, known as the place Tiger Woods, other athletes and prominent business executives call home.

But in this real-estate market of unprecedented lows, even the rich and famous are finding it tough to sell.

Sports stars Grant Hill, Mark O’Meara, Stuart Appleby and Ryan Longwell as well as former Hughes Supply Inc. CEO Tom Morgan and the estate of car dealer Bob Dance all have homes up for sale in Isleworth.

In fact, at least 45 mansions, or 15 percent of the subdivision, are on the market.

That’s higher than nearby luxury subdivision Keene’s Point, where 11 percent of its 960 homes are for sale.

The heavily guarded gates don’t keep out distressed sales.

Estate Properties

Luxury Pools: Swimming in Style

…The glass tile, about 3,000 square feet, is from a company called Sicis in Ravenna, Italy, one of the finest glass tile manufacturers. The blue tiles have a copper iridescence, which take on different hues depending on how the sun hits the pool.

Florida’s Landmark Mansion Just Hit Market for $18 Million

Perry Snell’s waterfront mansion, considered as one of the most beautiful homes in Florida, was just listed for $18 million, in the St Petersburg/ Tampa Bay area. Alona Dishy with Realty Executives, who specializes in high end, historic and waterfront homes in the Tampa Bay area, is representing the ownership.

Florida Governor’s Mansion

From 1845, the year Florida joined the Union, to the beginning of the 20th century, governors of the state usually lived in hotels or boardinghouses. In 1905, the state legislature appropriated $25,000 to construct an official residence for the governor, and the home was finished in 1907, George Saxon, a banker from Tallahassee, donated four lots on which to build the residence.

Maria Sharapova’s House Longboat Key, Florida

Already a multi-millionaire before her 20th birthday, Sharapova decided to use $2.6 million of her tennis winnings for a home on southwest Florida’s affluent Longboat Key. Sharapova’s two-story mediterranean-style home offers four bedrooms, fireplace, swimming pool, and a boat dock.

Pricey Properties: America’s $50 Million Homes

 

Many of the country’s most lavish properties have dropped in price to lure buyers.

When brokers and sellers determine an asking price for a home in the double-digit millions, local real estate statistics mean almost nothing. Instead of relying on metrics like “comparables,” the industry term for similarly appointed homes that have recently sold nearby (these [...]

Waterfront Properties

Hot Areas !

Monaco is World’s Most Expensive Home Market

For the second year in a row, Monaco ranks as the world’s most expensive residential real estate market, with prices averaging from $4,300 to $5,900 a square foot.

That’s just one of many interesting tidbits in the Wealth Report, which offers a glimpse at the trends in luxury markets around the world, as well as the interests of high-net worth investors. It’s one of the few reports to provide snapshots of specific luxury residential markets around the world. Global Property Guide is another.

Shortsales - Foreclosures

New Short Sale Regulations – Effective April 5th, 2010

The down side is that mortgage companies don’t have to put the program into action until April 5, 2010. I think this time frame was established to give these companies time to get their act together. My understanding is that this program is voluntary for lenders that hold second mortgages. These lenders can receive up to $3,000 to release the loans. I’m sure that will be a gamble for many lenders that stand to lose a substantial amount of money and opt to hold the borrower accountable instead.

New Regulations Give Banks More Incentive to do Shortsales

Now new federal rules will require lenders to respond to all shortsale offers in 10 business days. That makes shortsales a very real option for many. Florida’s Sun Sentinel reports that 20 percent of houses in certain parts of the state have been shortsales, while more than 40 percent were foreclosures.

Successful Loan Modification Strategies

Loan modification efforts fall short when they aren’t based on what a homeowner can afford in the long run.

The good news is that the number of loan modification efforts designed to help financially troubled homeowners remain in their homes is up; the bad news is that more of the same homeowners who received a loan modification are in default again.
What’s the problem?

Will a Quicker ‘Short Sale’ Process Bring About Healthier Home Sales in 2010?

New government guidelines and bank programs combine to boost ‘short sales’
January 5, 2010 — Is a housing turnaround possible in 2010? That’s what U.S. homeowners and real estate professionals are counting on when the government’s ‘short sale’ guidelines take effect in April—guidelines that are designed to “shorten” the short sale process. This is great news [...]

Luxury Homeowners in U.S. Use ‘Short Sales’ as Defaults Rise

By Kathleen M. Howley and Dan Levy
Homeowners with $1 million-plus mortgages are defaulting at almost twice the U.S. rate and many are turning to short sales
(Bloomberg) — Homeowners with mortgages of more than $1 million are defaulting at almost twice the U.S. rate and some are turning to so-called short sales to unload properties as [...]

Distressed Florida Hotel Headed to Foreclosure Auction

A historic hotel with distinctive Spanish Mission-style architecture, located 70 miles Northwest of Disney World, Orlando is heading to court-ordered foreclosure auction on January 21, with no minimum bid.
Ocala, Florida’s The Ritz Historic Inn, a hotel in need of renovation and rehab work, is listed on the National Registry of Historic Places, according to a [...]

New Year’s Prediction: Foreclosure Mills Will Prosper

By Steve Cook, Real Estate Economy Watch
 

Predictions that 2010 will bring one to two million more foreclosures are gloomy news for most homeowners and housing professionals.
But to a small group of legal professionals who have figured out how to made foreclosures their pot of gold, the Foreclosure Era continues to be a time of prosperity [...]