East Orlando Transportation Challenges

June 13, 2007 by avalonrealestate

As any Avalon Park or East Orlando resident knows, the morning and evening commutes can be very trying!  Well, I’m happy to say that Orange County understands our pain.  Attendees were provided a good update today at the East Orlando Chamber of Commerce breakfast.  I’d like to share this recap with you.

EOCC put together a great group of panelists: Mike Snyder with the Expressway Authority, Edward Johnson with Lynx, Renzo Nastasi with Orange County Government and Kelley Teague with Orlando Metroplan.  Each came with their own insight into what is happening with transportation specific to East Orlando. 

Mike Snyder/Expressway Authority talked about the congestion on 408 specifically.  As most of us know the EA has been focusing on reducing traffic on the West side by providing the 192 alternative to those in Apopka; they are also addressing ways to increase traffic flow heading from east to west with the current construction at the I-4 ramps off of 408 (scheduled for completion next year), and with the Lake Underhill bridge which is scheduled for completion in two years.  Also of importance to East Orlando is the 528/Beechline and Alafaya Trail extension; Mike said that the Expressway Authority is ready to move forward with this project as soon as the design plans are finalized — no timeframe but certainly great news nonetheless!

Edward Johnson at Lynx talked about the various programs they have available.  Have you heard of their “Rack and Roll” program?  For bike enthusiasts who need a helping hand getting from point A to point B, Lynx buses offer bike racks so you can take your bike with you rather than lock it up at the bus stop!  What a nice value add!  Lynx has its Road Ranger program designed to assist stranded motorists get back on the road as quickly as possible; should you get a flat tire, look for some assistance from the Road Rangers that patrol the major arteries. A third program that was mentioned is “Access Lynx” which is designed to address the needs of those with disabilites. Unfortunately, Edward didn’t provide a lot of information on this program but I’m sure you can learn more on their website at www.golynx.com. And the last program discussed was the Transportation Benefits program under which falls their Ride Share programs.  Did you know that Lynx provides vans to employers who need to move up to 12 employees from a common residential area to a common work area? This helps provide employers with a tax benefit and employees with a welcome relief from today’s gas prices!  Also, they have a Car Pool database that can match you with people in the area who also desire to reduce the monthly expenses associated with single commuting — consider checking this out!

Renzo Nastasi with Orange County Government spoke about some of the projects currently being worked on for East Orlando such as the widening of Alafaya Trail from Avalon Park south to Mark Twain — it is under design and expected to start late 2008; widening of Woodbury Road to a four lane road is under study and plans are to widen it from Challenger Parkway to Lake Underhill. This should take 4-5 years to complete.  As most of us know, Innovation Corridor is under construction from Avalon Park Boulevard at Alafaya although he didn’t mention a completion time frame and the Interchange is in design phase.

Kelley Teague of Orlando Metroplan discussed how her group is actively working with all of the above agencies to provide a 30,000 foot perspective and a 30 year multi-modal transportation plan that is financially feasible to implement.  This look encompasses mass transit via bus and high speed rail, as well as automobile. Our area is projected to double in number of residents in the next 20 years so the planning they do now is to address the needs for a community of those proportions. 

The question was asked as to how the current property tax debates in Tallahassee will impact the funding of these services. The answer is that should there be any decrease in the tax base, it will impact the implementation of some plans for expansion of current roadways as well as the services provided by Lynx. The extent of the impact remains to be seen.

I walked away from the meeting feeling that this team of experts understand our needs and are doing what they can to set forth plans to address our traffic flow issues.  Now it is up to our state legislature to decide how all of this will play out.

Is it really a Buyer’s Market? Maybe I should wait…

May 29, 2007 by avalonrealestate

I have spoken to many realtors who agree that we are beginning to see the more “serious” buyers contact us for information, show up at Open Houses, view our listings online, etc.  These buyers truly “get” the current market conditions and want to take full advantage — good for you! 

And yet, there remains this “wait and see” attitude among another group of potential buyers that have many people wondering just what are they waiting to see?

A market correction?  Great news: it is happening! Housing prices are down 3.11% compared to April 2006.  Price is always a factor however, we must remember a number of market influences. When you consider that Orlando is a national and international relocation destination for 1200 people each week,  our property values are in the eyes of the beholder and therefore probably will not track much lower. Now is definitely the time to identify your “must-haves” and let a licensed real estate professional help you narrow your selection and monitor new listings coming onto the market.

More deals on foreclosures and pre-foreclosures?  While there are a number of foreclosures and pre-foreclosures on the market, we are also seeing mortgage companies and banks working with borrowers to help circumvent foreclosure.  Opportunities are around but they may not become as plentiful as some buyers expect!  Become well versed in your local market conditions so you can fully capitalize on an opportunity.

Are buyers waiting for interest rates to come down?  Unfortunately, interest rates are rising in slow but steady increments!  If you feel your credit is less than stellar and are unaware of your financial options, please seek the professional advice of a mortgage broker! Get pre-approved for a mortgage and put a financial gameplan in place for this important investment.

Buyers currently have great leverage to negotiate many facets of a contract.  We encourage you to seek out a professional Realtor who has market expertise, strong negotiation skills and a wide range of resources (financial, home inspectors and repair, interior and exterior remodeling, etc.) to help you see full potential and provide long range planning!  This may be your largest investment ever — get the right team on board and then take full advantage of the opportunities available!  And yes, BUY!

Should I sell my home now?

May 15, 2007 by avalonrealestate

We get asked this question everyday; the simple answer is “maybe”.  There’s a lot that goes into making this determination.  It is best to work with an agent that understands your particular neighborhood trends and current market values, has the right connections to answer all your questions, and can provide you with contacts for potential home repairs, staging, home inspectors, appraisers,  financial, or other resources you may need to ready your home for market. 

Once you’ve decided to sell your home, set a realistic expectation of the timeframe involved.  It may take awhile!  In the Avalon Park neighborhoods we are seeing an average of 119 days to close.  Choose a real estate agent that can customize a marketing plan for you — differentiation and aggressive marketing techniques will make all the difference.   I’d love to hear from anyone who has recently made the decision to put their house up for sale or is in the process.  Let’s discuss the main questions you need(ed) answered before you could make this decision and the steps you took to evaluate this.

Absolutely Avalon, Was just that!

May 8, 2007 by avalonrealestate

This was my first visit to the annual event at Avalon Park’s Town Center and it was absolutely as our community markets itself — fun, entertaining and very geared toward family activities!  Three stages provided a wide range of musical entertainment; there was a lot happening around the town center: pet contests, arts and crafts vendors, food and lots and lots of people walking all around!  What did you think of the event?  Does Avalon do a good job?  Could it have been better?  Can anyone who attended the event last year let me know how this year’s compared?  I’d love to hear from you!

College Room & Board Vs. Investment Property?

May 3, 2007 by avalonrealestate

Have a student who will be attending the University of Central Florida?  Then, no doubt you have been studying the costs of housing and meal plans!  It can be mind blowing.  I took a quick look at the annual housing rates on a 4/2 unit and added the cost of a meal plan (Knight’s Plan) and it looks like many of you will pay $1138.35 per month — amazing!  And that is money that won’t be yielding any return on the investment — unless you hope your kid will support you some day!!

Now, consider this…purchasing a 3/2.5 townhome within 15 minutes commute of UCF in the sought-after Avalon Park area, with 10% down and with the monthly mortgage split 3 ways (your kid and 2 roommates), the monthly P&I could be covered for as little as $500/month per person plus food.  Does your kid eat more than $600/month in food?  If not, this might be a great alternative for you to explore!  Save money, build equity, create a unique environment for your child. Hmmm…