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Vacation rental supply evolution in top cities

Vacation rental supply evolution in top cities

Vacation rental supply evolution in top cities

London has by far the largest number of short-term rental properties (36,000 in October 2021). In addition, Europe is the continent with the most listings, with the city with the highest number of listings (9). Most are the capitals of major supply nations, plus Milan, Barcelona, and St. Petersburg.

Eight cities from North America are among the top 20; we learn about vacation rental supply evolution in New York City, Los Angeles (LA) and Kissimmee. Also classified under North America are Mexico City, Playa del Carmen, Havana, Montreal and Toronto.China logically has the most cities represented (8), while other cities represented include Dubai, Cape Town, Bogota, and Rio de Janeiro.

Out of the top vacation rental nations, China has seen the most supply growth since 2018. More recently, however, many major Chinese cities have seen inventory shrinkage. In fact, 5 of the 8 featured cities have experienced a significant decrease in inventory levels.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Landsea Homes Is Now The Seventh Largest Homebuilder In Central FL

Landsea Homes Is Now The Seventh Largest Homebuilder In Central FL

Landsea Homes Is Now The Seventh Largest Homebuilder In Central FL

On January 19, 2022 it was officially announced that Landsea Homes Corp. completed the acquisition of Orlando-based Hanover Family Builders for a purchase price of $179.3 million, subject to certain post-closing adjustments and assumption of debt, which was refinanced with the company’s unsecured revolving credit facility. 

 In 2021 Hanover Family Builders closed 632 homes at an average selling price of $328,323 and ended with more than 4,100 lots under control, 469 homes in backlog worth more than $200 million, and 18 active communities. 

 “In 2021, Landsea Homes surpassed the milestone of $1 billion in revenues and completed our first year as a public company. We believe our acquisition of Hanover Family Builders is another truly transformative event for the company,” says Landsea Homes CEO John Ho. “With the closing of this transaction, we have increased our lots under control to more than 12,800 and further accelerated our asset-light strategy by increasing our controlled lots to approximately 50% of our total lot inventory.” 

 Hanover Family Builders was established in 2017 by the brothers Matt, Steve, and Andrew Orosz in partnership with Colby Franks. It all began with nine communities in the Orlando region, Osceola, Lake and Polk counties. The Orosz family previously formed Cambridge Homes in the 1990s and Royal Oak Homes in 2011, which were sold in 2005 and 2014 respectively. Over the decades, the various companies have received the highest recognition for their growth, customer service and commitment to the community.  

 “Hanover Family Builders has established a great reputation for providing wonderful homes and outstanding customer service across central Florida,” Ho says. “Given their strong track record, local market knowledge, and long-standing relationships, we believe that Hanover will play an integral role as we expand in this region.” 

Landsea Homes first penetrated the Florida housing market in 2021 with the acquisition of Vintage Estate Homes, providing homes in the Orlando area, including Palm Bay, Ormond Beach, Palm Coast, Sorrento, Lake Helen, Merritt Island, and DeBary. 

 “We were very impressed with Landsea Homes’ strategic approach and commitment to building great homes with top-tier customer service—values that closely align with ours,” says Hanover Family Builders co-president Steve Orosz. “Their senior leadership team is experienced and thoughtful, and they have created a culture of integrity that is dedicated to ensuring they provide best-in-class homes in each of their markets.” 

Ho says that Hanover Family Builders’ focus on the more affordable segments of the market “aligns strongly with our broader product positioning goals.” The acquisition of Hanover Family Builders is expected to have an immediate impact on Landsea Homes’ earnings, and Ho says this acquisition will drive the company’s return “on beginning equity to exceed 20% in the fiscal year 2022 and beyond.” 

 “Our mission is to create a best-in-class home building company that focuses on delivering high-quality homes at a great value to our customers, while providing superior customer service,” Ho says. “Hanover Family Builders fits perfectly into that mission, and we are excited to welcome them into the Landsea Homes family.” 

 

In the course of eight years, Landsea Homes has has grown into one of the premier national homebuilders and established a footprint in each of its key markets, including Arizona, Northern and Southern California, Texas, and Florida. 

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Coming soon- New Retirement Community to Central Florida

Coming soon- New Retirement Community to Central Florida

Coming soon- New Retirement Community to Central Florida

On January 5, 2022 the Polk County Planning Commission unanimously approved a binding site plan for 232 apartment units on 11.6 acres off Lake Hatchineha Road. 

 The project is located “on the north side of Bayberry Street, west of Marigold Avenue, east of Allegheny Road, north of Hatchineha Road, east of the city of Dundee.” The land is owned by Gordon Land LLC. 

 This proposal is part of the larger Poinciana Planned Unit Development — addressing the remaining portion of Neighborhood 3 within Village 7. The area was rezoned to multifamily in 2005 but was in need of a binding site plan. As a result, commissioners were evaluating the design of the proposed project, rather than the compatibility of the proposal’s high density. 

 The project is proposed as a 55+, retirement community, but Florida law prevents the county from enforcing age restrictions on development requests, according to county documents. 

The planned buildings will be four stories and courtyard style. Access to the development will be via an extension of Allegheny Road. 

The RE/MAX Heritage team is trying to obtain all details and we’ll be sharing shortly.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

A Sharks Tale – How to find a good Realtor

A Sharks Tale – How to find a good Realtor

A Sharks Tale – How to find a good Realtor

Rather than understanding what investors are looking for, many real estate agents lack work ethic and can be difficult to coach. It is imperative that you let the agent know exactly what you are looking for or he or she will bring you many loser deals.

Do not leave out any details when explaining to a real estate agent what you are looking for. You should specify the locations you are looking for, the price range, the return/cap rate you are looking for, the type of home, the number of bedrooms, and other details which are important to you.

A good agent will also be willing to make multiple offers and make a low ball offer. Some agents do not like investors and only work with the typical home buyer. That is fine, but we need to be aware of that as early as possible.

You should ask other buyers for recommendations before choosing a real estate agent. Often, investors will be more than happy to give you recommendations on investor-friendly agents. If you are serious about investing in real estate, remember that what works for one investor might not work as well for you. Make sure you are comfortable with the investor friendly broker before signing a contract.

It is also possible to find reviews of agents on sites like Zillow and realtor, however I would strongly recommend getting a recommendation from an investor you know. It is also a good idea to find a realtor who is able to bid on HUD homes, as these homes can be great deals and it makes things much easier if your agent is qualified to bid on them.

Finally and most importantly, make sure your real estate agent has invested in properties themselves since these individuals understand us, buyers, far better than those who have never purchased real estate before.

Choosing a good realtor is challenging, but don’t cut corners on finding one as a good realtor will take your business to the next level and make your life much easier. 

Re/Max Heritage Realtors are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

Things to Consider Before Buying a Vacation Home

Things to Consider Before Buying a Vacation Home

Things to Consider Before Buying a Vacation Home

Investing in vacation rental properties is one of the best ways of making money and building wealth in real estate. Recent statistics show that Airbnb hosts generated gross revenue of $14.2 billion in North America in 2019. Due to the Coronavirus-induced travel restrictions and stay-at-home orders, gross revenue dropped to $12.6 billion in 2020. However, with the release of the Covid-19 vaccines and the reopening of economies in 2021, the short-term rental industry is expected to rebound in a significant way.

Weigh the Pros and Cons

Even if you’ve made up your mind to buy a vacation home, it’s still a good idea to consider the positives and negatives. Some pros would definitely be:

  • It’s an investment. Like your primary home, a vacation home will hopefully and probably increase in value. Especially in popular areas near beaches or mountains, you may be able to sell your vacation home for substantially more than you bought it for.
  • You can earn money by renting it out. If you aren’t going to live in the vacation home throughout the year, you could create a passive income stream by renting it out to other vacationers.
  • You’ll save on vacations. Depending where the vacation home is, maybe you’ll have to spend money on gas or airfare, but otherwise, you’ll already have a place to stay.
  • You can enjoy longer vacations. After a while, it’s hard to justify spending $100, $200 or $300 a night at a hotel, and so you cut your vacation short after a certain number of days or maybe a week or two. But this is your vacation home. In fact, if you work remotely, you may be able to work from your vacation home. You can decide the length of your vacation instead of how long you can afford to stay at a hotel.
  • It can boost your quality of life. It’s not all about money. A vacation home will allow you to a place to recharge and relax, and family members and friends could potentially join you.

 

But there are also some negatives:

  • It’s expensive. The cost of buying and maintaining a vacation home is steep. You’re going to be paying another mortgage, plus property taxes, insurance and utilities, just as you do with your primary residence.
  • The costs could mean you save less for other things. Consider the bigger picture: Will you have less to save for your kids’ college fund or your retirement?
  • You’ll have to maintain another home and keep it secure. How long will your vacation home be empty? With today’s technology, you can probably set up cameras and monitoring equipment to allay your concern. But pipes can freeze in the winter. A raccoon could chew a hole in your roof and move in.
  • You might want a change of scenery. In a few years when the novelty of your vacation home has worn off a bit, will you long to go on a vacation somewhere completely different? And will you feel that it’s impossible to take a vacation anywhere else, since you’ve put so much time and money into your vacation home?

 

 

We have helped thousands of clients buying Orlando vacation homes. Buying a vacation home in Orlando represents one of the most attractive investment opportunities in the world and clever investors taking advantage of vacation rental income to subsidize their investment. The combination of Orlando’s world famous theme parks and Florida’s year round sunshine has generated an insatiable demand for Florida holiday villas and vacation homes near Orlando. This has created a vacation rental market turning over millions of dollars every year.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Lake Ashton 55 Plus Community

Lake Ashton 55 Plus Community

Lake Ashton 55 Plus Community

The Lake Ashton master planned community redefines elegance and value in Florida retirement communities. It sets new standards of excellence in design, construction, amenities, lifestyle, location, security and affordability.

The Lake Ashton community offers a retirement lifestyle unmatched in Florida, situated on over 1,200 picturesque acres with threespectacular lakes and a nature preserve. The gated community is nestled between Tampa and Orlando between two beautiful Florida cities, Winter Haven and Lake Wales.

It doesn’t matter what kind of retirement lifestyle you prefer – active and energetic or relaxed and laid back – Lake Ashton is destined to be what you’ve been dreaming of.

Lake Ashton 55plus

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.