Living the Dream of Walt Disney – Celebration Real Estate

Living the Celebration Life

Trying to escape the suburban sprawl that is engulfing so many areas in this country, people come to Celebration, FL  from all over the world to experience the charm of 1930’s southern American village.  With a charm, unique to very few places, Celebration lives up to its name.  With everything within walking distance, many residents are able to get around by foot, or the many smart cars and golf carts that you’ll see throughout your day. Wait long enough, and you will even run into a Segway, the 2 wheeled human transporter.  Celebration is made up of an eclectic mix of people, and you will quickly discover that this is one of the friendliest towns you could move into.

View Celebration Homes For Sale

Celebration  Real Estate

Celebration homes have been designed to inspire neighborly activity in the front yard, in order to encourage a sense of community.  Celebration real estate was modeled after small American towns and neighborhoods from the early 1900s. Garages are not observable from the street and are in the rear of the property and accessed by a service alley that runs behind the homes.  Celebration, FL homes and condominiums are built along small streets, with garbage pickup done along the service alleyway behind the homes. Keeping everything in the back, as well as having utilities services under ground, keeps the look of home fronts and sidewalks pristine. As you can imagine, retaining a perfect community, necessitates strict adherence to town guidelines, such as specific landscaping requirements, colors that aren’t too far off from one another as well as similar materials for buildings. All of this creates a harmonious blend of different styles, allowing for a beautifully done continuity throughout the whole town of Celebration, FL. Residents, who call Celebration home, love it and would not choose any other place over Celebration.

View Celebration Townhouses For Sale

The Locals

After going to the Market Street Café, Celebrations quant local diner (Read the review here) and being lucky enough to run into and speak with a long time Celebration resident, I began to understand more about what someone would want out of living in such an area.

“To quote Calvin R. Don’t let the talk of ‘The Truman Show’ fool you. Many myths have been passed around about our little town.  While there are always some kernels of truth in every myth, anyone that comes through here will quickly see past them, and will experience for themselves just why we love this place so much.”

While you might not get life time Disney passes just for being a Celebration resident (one of the better myths), you will end up getting much more in the end, and that’s a real sense of community. Walking through this town, I can’t help but to feel a sense of fun and calm that pervades the streets. It’s not just the people that make this place what it is, but an atmosphere that permeates through everything.

View Celebration Condos For Sale

Celebration History

Now that I’ve told you about what the town of Celebration is like, I will give you a little background on it.

 The dream child of Walt Disney, picturesque Celebration was founded in 1994, inspired by his dream for a people-friendly utopia. It has added its own schools, fire station, hospitals, town center and many other businesses and faculties since the first residents moved in in 1996.  Though the community is no longer owned by Disney – it was sold to a private real estate investment company in 2004, and since then the Celebration Real Estate Market has grown to over 4,060 homes and condos, occupied by over 9,000 residents.

The down town area complete with a movie theater, restaurants, shopping, coffee shop, diner, bookstores, and barbershop is always bustling and will give you ample things to do on your Friday and Saturday nights. If you are looking for a primary residence, second home or vacation home (a place to stay at during those cold Northern months), or even a home as an investment, and then take advantage of this beautiful small town oasis nestled away in the middle of larger metropolitan areas. Your family and your tenants will thank you.

View Celebration Real Estate in Artesian Park

Currently there are only 80 properties available in Celebration, FL, which includes 63 single family homes, 2 town homes and 13 condos. Representing an inventory of less than 3% – a small fraction of the total homes in Celebration, and much lower than it has been in several years residents seem to be happily engulfed within this magical community.

Is it expensive to buy Celebration real estate?  Maybe a little compared to other communities in the Disney area, but you can still find many homes for the same average price as you can find in other suburban towns as well as be a part of a community and culture much like that of Walt Disney’s original vision.

We hope to earn the opportunity of helping you achieve your investment property goals this year in 2012. For a free, no obligation investment property consultation with our Director of Sales- Lisa Arcia,  please contact us directly at 866-422-6191 and if you have enjoyed this article please consider subscribing to our blog and stay updated on future information. 

Largest Modern Day Palace in Orlando Goes Up For Sale

The largest modern day family home in not just Orlando but all of America goes up for sale this week. This extravagant mansion, currently under construction in the Reserve at Lake Butler Sound in Winderemere, FL;  is fit for a king and is actually modeled after the royal palace of Louis XVI. If you know anything about Windermere, FL you know that it’s not only home to the famed golf legend Tiger Woods but many other well known athletes and celebrities such as Shaquille O’Neil and is one of the golf capitols of America.

View All Properties For Sale in the Reserve at Lake Butler Sound Here

What type of price tag can you expect to roll out for a Windermere mansion the size of approximately 40 average single family homes? $100,000.00 is the listing price of this Butler Chain of Lakes beauty. So what exactly does your $100,000.00  buy you beside a Windermere address, celebrity neighbors and some fancy architecture? Here are some of the features you can expect in this unique Windermere gem:

Windermere Second Homes For Sale

The property is located on a 10+ acre peninsula with 12,000 square feet of shoreline on the famed Lake Butler chain of lakes. The property has 13 Bedrooms and 23 Bathrooms, Three Pools, a 20 Car Garage, 60×120 Grand Hall, 47 ft high Stained Glass Dome, a 6,000 sq ft. Master Bedroom, Fitness Center, Multiple Spas, Children and Adults Theaters, Arcade, Bowling and Two Tennis Courts, a Boathouse, 1 Story Gatehouse with Apartment, a Baseball Field, 10 Satellite Kitchens, Two Story Wine Cellar, Rock Grotto with Three Separate Spas behind an 80 Ft. Waterfall, Indoor Roller Rink, a Japanese Steakhouse Island that seats 12, a His and Her Office with a 12 ft. two sided Aquarium and the list goes on! So how’s that for a Windermere, FL vacation home?

Orlando Mansion Foreclosures For Sale

If you would like to know more about this property or other properties for sale in the South West Orlando area you can contact us today or begin searching Orlando homes here.  For a free, private consultation on owning a second home in the Orlando area you can contact us here.  We’re happy to answer all of your vacation and second home questions!

Legacy Dunes Condos- Expect To Pay More in Kissimmee’s Best Value Vacation Condo Resort

I’ve been getting a lot of inquiries on Legacy Dunes this past week from investors that are just looking for a solid, inexpensive investment in the Disney area.  Many of the investors who are buying property in here don’t have any intention of using it for short term.  Some plan on renting it for a year and then trying to flip it, some just want to rent it full time and live in it for retirement and some are just buying it because it’s cheap and they will figure out the details later.  Whatever the case may be there is one thing that is certain. . .

If you plan on investing in a Legacy Dunes condo in Kissimmee you can plan to pay above asking price!

The comps don’t lie.  I’ve comped out every sold condo recorded in the MLS for the past six months and 70% of them sold for over asking price.  Some were a mere thousand over asking and some were as much as $16,000 OVER ASKING PRICE! What this tells me is that if people are willing to continuously pay over asking price for these condos that our market has absolutely hit a rock bottom and the comps are reflecting that.  

Legacy Dunes Bank Owned Condos For Sale

Legacy Dunes used to be a place where the average investor who just wanted a cheap vacation rental condo in Orlando could get a great deal.  Now it’s turned into a feeding frenzy for investors looking to cash in on the rock bottom short term rental investment that is still in decent condition.

If you’re up for the challenge of trying to buy a condo in Legacy Dunes, here are the new rules of the game:

Rule #1: Don’t underbid or you won’t get the condo!

Rule #2: Submit your highest and best offer.  In most cases, you only get one shot of submitting your bid so make sure it’s the highest you’re willing to pay.

Request the Full Legacy Dunes Sold List For 2009

Rule #3: Be ready to jump on the listing right away! Time is of the essence when you have 20 other hungry investors trying to buy the same condo.

Rule #4: Have your rental strategy mapped out ahead of time.  If you plan on renting it, make sure it’s rental ready asap so you don’t get stuck with it too long! Those condo fees are high and will start to eat a hole into your bottom line.

View All Condos For Sale in Legacy Dunes Kissimmee

Emerald Island-DON’T EVEN GO THERE!

Every now and then I come across very funny vacation home reviews for the Disney area resort neighborhoods.  This one was by far one of the funniest I have ever read! I still love Emerald Island!!

Emerald Island: DON’T EVEN GO THERE!

From: Trip Advisor
“As this was our fourth time to florida we knew what to expect,NO NO NO BIG MISTAKE,on arriving at are home we could not get in the lady at the clubhouse said sorry cant help you,we were told to ring are travel agent in the uk,what a joke it was 11pm back home,we finally spoke to the management who told us sorry the house you booked has been sold but she did have another house for us,when we arrived at the new house what a DUMP and i mean dump the house was FILTHY, FURNITURE was well worn we payed a lot of money for the house for it to be fit for SQUATTERS.after many phone calls we were finally moved,with only 4 days left to are holiday,we WOULD NEVER EVER stay at emerald island again even if it was free,back to remmington for me and my family nxt year only come here if you like DIRTY USED HOUSES CHEAP TATTY FURNITURE OTHER PEOPLES PUBIC HAIR ON YOUR TOWELS DIRTY USED BEDDING SIX MONTHS OF DIRT IN THE POOL AREA BROKEN GAMES ROOM LEAKING ROOFS AND A POOL YOU CANT USE DUE TO FLIES, if you enjoy this type of holiday then EMERALD ISLAND IS THE PLACE FOR YOU.”

The Pink Flamingo Says: Wow! That’s a good reason not to tick off your guests! Maybe they should dump the “tatty furniture” and clean the towlels. . . gross.  This is also what happens when you hire a bad property management company!

Top 3 Disney Area Vacation Home Neighborhoods That Have Water Parks

Whether you are looking for a place to cool for this summer or you’re in the market to buy a family friendly vacation home in Orlando these three communities boast the best private water parks in Orlando and are sure to not disappoint the kids!

1. The Reunion Resort
The Reunion Resort water park is the behemoth of all the Orlando vacation home community water parks.  It has a lazy river, twisting water slides, wooden boardwalk, water playground, full food and beverage service, sunny and shaded lounge areas and scheduled family activities Monday through Saturday from 8:00 AM to 5:00 PM at the Kids Crew adjacent to the Water Park. A huge plus about this water park is that it’s generally not as crowded since there is also another pool in Reunion.  I love to come here for the day with my daughter, she always has a blast and we don’t have to fight off mobs of soaking wet kids trying to fight for their spot in line at the water slide.  In order to take advantage of the Reunion water park you must either be staying at the Resort as a guest or purchase into their membership.  If you are considering buying a property in Reunion I would advise picking one up that already includes the membership.  That will save you about $20,000.

View All Properties For Sale in The Reunion Resort Here

2. Regal Palms
In my opinion the Regal Palms Water park in Davenport is second only to The Reunion Resort.  It offers the same type of activities such as a lazy river, water slide and kids splash area just on a smaller scale and usually it is a bit more crowded.  Regal Palms is an excellent choice for a vacation home for those on a budget and that want to enjoy the same amenities as a larger resort.  The water is warm year round and the kids will absolutely love you for taking them here.  To enjoy the facilities at the Regal Palms water park you must either be a guest of the Resort or an owner of a Regal Palms townhouse.  If you are an owner you have to pay $250 per month to be a member in good standing and utilize the facilities.

View All Regal Palms Resort Townhouses For Sale Here
3. Windsor Hills

The Windsor Hills Water Park in Kissimmee is a baby compared to The Reunion Resort and The Regal Palms Resort however, it’s still an excellent choice is you want to own in a five-star neighborhood at an affordable price.  The water park consist of one large water slide, a splash area with fountains,  a large pool area, convenience store, game room and fitness center.  The Windsor Hills water park is more of a giant pool with a large water slide and splash park.  It’s still alot of fun it’s just not as extravagant and large as the others.  The properties in Windsor Hills are beautiful and most come fully furnished with bookings already in place.  This community does extremely well with bookings and if your looking offset your expense of ownership for a vacation home near Disney this community is an excellent choice.

View All Windsor Hills Properties For Sale Here

The Bimini Bay Resort in Davenport is on Fire. . . LITERALLY!!

Source

The Bimini Bay 11,000 Sq Ft Clubhouse was set to flames last month.  The Bimini Bay resort was not known for it’s amenities, or lack thereof, and now the one good thing it had going for it has been burnt to smithereens.  The police suspect arson as the main cause of this fire and thankfully there were no injuries reported.  According to the Fire Marshall, the damages are totaling around $1,000,000.  I wouldn’t hold your breathe on this being renovated anytime soon.

Bimini Bay Foreclosures For Sale

While we’re on the topic of crime in Bimini Bay, earlier that week Bimini Bay served as the meeting place for four men planning a robbery.  Two unsuspecting men who were hanging out at the local Kissimmee Denny’s wandered to a party at the Bimini Bay Resort with two random women that they met (probably over a romantic platter of moons over my hammy) only to be forced into a vacant townhouse where they were held at gun point.  Talk about a good day gone bad.  They probably should have just stuck with Denny’s and a romantic walk down I-drive in rush hour.

Bimini Bay appears to be taking alot of heat over the past month. . . no pun intended.  From arson to robberies that would be enough to make me look at the properties up the street instead.  With all this bad press surrounding the Bimini Bay resort this may be a time to get a cheap townhouse in there as many owners will probably be deciding it’s time for a move!

Bimini Bay Townhouses For Sale

Who Does This!!!

As a mother, this is a touchy subject for me and as I’m writing this I’m half ready to contact these “guardians” (if that’s what you want to call them) and just try to understand what the heck was going through their minds when they did this!

According to a story published yesterday on ClickOrlando.com two foster parents were found lounging at the Caribbean Beach Club Resort in Disney World while their two and four year old children were left alone upstairs in the hotel room on the second floor of the building. These are toddlers, children not even old enough in most cases, to tie their own shoes let alone babysit each other while their foster Mommy and Daddy work on their tan! WHO DOES THIS!!

According to the story, The house keeper walked in to clean the room and found the two toddlers, one in just a diaper and the other in only underwear, wondering the room alone.  The housekeeper waited five minutes for someone to return and when they never did she contacted her superisor to report the situation.  There was no food and water available to the children, the bathroom door was left unlocked and accessible and I don’t even want to think what could have happened if the children wandered out of the room onto the balcony or started roaming the premesis unattended.

The guardians were finally tracked down at the swimming pool and asked to return to their room where they had to explain themselves to the police.  The female guardian told police she was completely aware that the children were left alone and she does this all the time. The male stated that he was perfectly okay with them being left unattended.  The worst part about this is that the woman works as a counselor at a school in Michigan!! A school, as in a place where children go on a daily basis.

This whole act is just a pure example of 100% selfishness and carelessness on the legal guardian’s ends.  Those children could have been hurt while they were at the pool playing honeymoon.  It’s not even like they were in their vacation home laying out back by their private pool while the kids played inside. . .  If they wanted to vacation alone, they should have brought a nanny or went on a Disney Cruise where the kids could have been left under supervision.  Shame on them and I really hope the state finds some responsible, loving foster parents for those children.

The Villages at Legacy Park Homeowners Association in Davenport Files for Chapter 11 Bankruptcy

“Hi Comcast? This is the The Villages at Legacy Park HOA and um, we just wanted to know why you shut off the cable to the entire community?”

How would you like to owe your cable company $105,305? That’s how much the Legacy Park Town homes Homeowners Association owed to Comcast for an unpaid cable bill before they filed chapter 11 on June 16. Back in the boom the developers had to use whatever advantage they could to try and compete with other communities selling short term rental properties in the Davenport area and including cable as part of the HOA seemed like a good sales pitch at the time. Fast forward to the dreary days of the foreclosure epidemic and now what we have is alot of people with no cable and a broke HOA.

This is not an uncommon practice in this market.  So many Orlando Homeowner’s Associations are facing bankruptcy due to thousands of dollars of unpaid assessments from owners and high default rates due to foreclosures.  There’s no guarantee that filing chapter 11 will solve all their financial problems though, if the delinquency ratio stays the same or gets worse problems can still arise in the future.

Legacy Park Bank Owned Properties For Sale

How does this affect the homeowner? With less money in the HOA pot for things like community maintenance and paying bills owners can expect cutbacks such as the lawns being mowed less frequently, sidewalks and the clubhouse being pressure cleaned less frequently and even higher assessments for structural things like roofing.  This could result in the community not looking as polished and maintained and in turn could affect bookings or possibly even sales.  It appears the worst is over for The Villages at Legacy Park however owners now have to pay for their own cable.

Top 5 Kissimmee Vacation Home Neighborhoods and How Their Booking Revenue Compares

When thinking about investing in a vacation home in Kissimmee close to Disney World one of the most important factors to consider, if you want to offset your expense as much as possible, is which neighborhoods generate the most income.  As a vacation home specialist my recommendation to you is to work backwards. Don’t be like so many Orlando vacation home buyers that just  jump into this process, pick random houses to view and then worry about the revenue later.  Start backwards to achieve the income goals you desire.  The first backward step is to compile a list of  Kissimmee neighborhoods in your price range that earn top dollar on bookings and have a stable booking history and start focusing on those communities.  There are really two main ways to obtain a list like this.  The first is the easiest and that would be to hook up with a qualified, vacation home specialist Realtor who works the Kissimmmee/Davenport market and monitors this activity.  The second would be to shop vacation home management companies and ask them for booking records but management companies are not so keen on divulging their property information to potential owners as this information often contradicts what they quote you in terms of rates.  Lets take a look at average revenue in five of Kissimmee’s most popular vacation villa neighborhoods.

All information compiled is based on a standard single family 4 bedroom pool home.

Windsor Palms
Location To Disney: 3.5 Miles
Average Nightly Rate Low Season:   $145
Average Nightly Rate High Season:  $173
Average Weekly Rate Low Season:   $931
Average Weekly Rate High Season:  $1193
Windsor Palms Homes For Sale

Lindfields
Location To Disney: 4.4 Miles
Average Nightly Rate Low Season:   $115
Average Nightly Rate High Season:  $133
Average Weekly Rate Low Season:   $763
Average Weekly Rate High Season:  $911
Lindfields Homes For Sale

Emerald Island
Location To Disney: 3 Miles
Average Nightly Rate Low Season:   $163
Average Nightly Rate High Season:  $194
Average Weekly Rate Low Season:   $963
Average Weekly Rate High Season:  $1194
Emerald Island Homes For Sale

Read Also: The 9 Best Kissimmee Gated Communities to Own a Vacation Home In

Windsor Hills
Location To Disney: 2.1 Miles
Average Nightly Rate Low Season:   $193
Average Nightly Rate High Season:  $270
Average Weekly Rate Low Season:   $1201
Average Weekly Rate High Season:  $1445
Windsor Hills Homes For Sale

Lake Berkley
Location To Disney: 6 Miles
Average Nightly Rate Low Season:   $106
Average Nightly Rate High Season:  $125
Average Weekly Rate Low Season:   $825
Average Weekly Rate High Season:  $973
Lake Berkley Homes For Sale

For a free one on one over the phone vacation home consultation please Contact The Flamingo today!

Bimini Bay Townhouses in Davenport: Good Prices-NO Amenities!

So many buyers are instantly drawn to the prices in the Bimini Bay townhouse community which is located in Davenport, FL.  They see the beautiful townhouses online and most wonder why they are so cheap! You know how the saying goes: If it seems too good to be true it probably is and this couldn’t hold more true for Bimini Bay in Davenport.

The Bimini Bay community was supposed to be a resort community that would stack up with the likes of resort neighborhoods like Regal Palms and Bahama Bay.  It was supposed to have a water park, day spa,gym facilities and many other cool toys but when the market turned many buyers started backing out of their contracts and just not buying all together, this brought construction to a very quick halt!

Bimini Bay Bank Townhouses For Sale

Here we are in 2009 and there still is not a clubhouse or pool, and only some of the townhouse buildings were completed. Many people are still hopeful that once the market gets stronger and more people start buying they will resume their original plans and finish the neighborhood.  This would be huge news for Davenport as I would love to see another townhouse community that can compare to Regal Palms to give buyers more options.

Bimini Bay still isn’t the worst deal on the block as the townhouses are super inexpensive and if your goal is to buy low and sell high than they are definitely low! The only problem you will run into is that you won’t be able to rent them short term because without the clubhouse and pool they are pretty much not an option for 99% of Orlando tourists who will stay in a vacation rental.  You can however rent them out long term and offset your expense that way.

My final opinion on the Bimini Bay townhouses is that they are nice places for a good price but not a good investment for vacation home buyers. . . definitely more for end users and investors who dont mind being landlords.

Naked Crack Smoker Gets Attacked By Gator in Polk County

What do you get when you mix crackheads with alligators? Probably nothing you would want to look at, especially at 3am . . . though this story is a few years old I still find it “What The Flock” worthy:

Original Story From: Click Orlando

Authorities said the Polk County Sheriff’s Office received multiple calls at about 3:30 a.m. Wednesday concerning screams for help coming from an area of Lake Parker County Park near the Moose Lodge on East Lake Parker Drive.

When officers arrived, they heard a Adrian Apgar in the lake screaming for help and saying he was being attacked by an alligator. The deputies dove into the alligator-infested waters and searched for the man, the police report said. Once the deputies found the victim, they were able to pull him from the alligator’s jaws and swim about 40 feet to shore. Apgar was transported to Lakeland Regional Medical Center in critical condition with an apparent broken arm, partially amputated left arm and major trauma to his leg. Wildlife officials said they were not surprised that the alligator attacked Apgar because 4 a.m. is prime feeding time, Local 6 News reported.

The Pink Flamingo Says:
1. Don’t Smoke Crack!
2. Don’t Smoke Crack Naked!!!
3. Don’t Smoke Crack Naked Near Alligator Infested Water at Prime Feeding Time!!!!!!!

Legacy Dunes Condos Being Flipped on Ebay For a Profit!!

Property flipping in this market? You betta believe it! Legacy Dunes condos in Kissimmee are not only being marketed on Ebay but are actually selling and the investors are making a quick profit and not a bad one if I may say so myself. Are they being marketed honestly though?  It would appear from this ad that the value of the property is being misrepresented. . .

This is just one of many examples of Legacy Dunes condo properties being flipped on ebay for a fast and hefty profit:

Here is the original listing from the MLS showing a closing date of May 1, 2009 for $27,000 (bank owned of course)

Here we are less than a month and a half later and we see this exact condo listed on E-bay for $59,000 with bids on it!!!!!! Even if this condo sells for $40,000 that’s almost doubling your money in less than two months.  Could this be the start of another bubble though?  Should end user buyers beware of the investor speculation going on in Legacy Dunes right now or should they feel secure knowing that they are buying at wholesale and could easily flip their condo for a quick buck if they wanted to?  I say that this is just a temporary thing and those that ride it out while it last will make the money.  As soon as all the bank owned inventory in Legacy clears out there won’t be any mark-up room to continue to flip.

As I was saying about the values being misrepresented. . . this condo is clearly NOT worth $96,000 however the person who is marketing this grabbed some information from the tax records to try and make this look like it’s the deal of the century and there are buyers out there that do not know how to find this information on their own that will believe this to be true.  The Osceola property appraisers are in the process of reassessing the values for all the Legacy Dunes condos for 2009 and these values will be going down to reflect the market.  The proposed annual tax statements don’t come out until August so this information is misleading in my opinion. At least they go onto mention that this information is subject to change. . .

Thinking about flipping or just owning one?  Check out this list of Bank Owned Legacy Dunes Condos for Sale

Everything You Need To Know About Legacy Dunes Condos in Kissimmee & Why They are So Cheap!

Why are Legacy Dunes Condos in Kissimmee So Cheap?

Top 20 Most Critical and Frequently Asked Questions About Buying and Owning an Orlando Vacation Home

Reason #1: Legacy Dunes Condo Association Fees are Very High  for What You Are Getting
Now I’m not against Condo fees like some of you may think, I am all for them when they are within reason but Legacy Dunes Condos not only charge high condo association fees but they don’t even justify it by including much.  The condo fees cover the common areas, and trash removal. . . don’t all cheer at once.  The fees are different per floor plan however paying almost $200 per month for a 1/1  600 sq ft condo probably doesn’t excite many Kissimmee home buyers.

Request Legacy Dunes Condo Association Fees List

Reason #2: Legacy Dunes in Kissimmee is Not a Fannie Mae Approved Community
If you’re a cash buyer this basically means nothing to you however for those of you who will be going through the process of taking a mortgage and putting less than 20% down this property does not qualify for your loan.  So to compensate and reach the cash buyers the prices in this community have dropped drastically.  This one fact makes Legacy Dunes condos in Kissimmee a steal of a deal for cash buyers only. . . bringing me to my next point.

Orlando Fannie Mae Approved Neighborhoods

Reason #3: The Legacy Dunes Condo Association Delinquency Rate is Rumored to be at or Exceeding 15%
With over 400 unites in the complex this shouldn’t necessarily raise too many eyebrows but the reason I bring up this point is because if you are taking a non- FHA loan and even if you are putting at least 20% down the property still may not qualify for the loan.  Lenders will not lend on properties with a homeowners association delinquency rate of more than 15% so even though you qualify for the loan the property itself does not.  I have not spoke to the HOA regarding their delinquency rate however if you run the numbers in my opinion it’s safe to assume the rate has exceeded 15% or will be soon.  There are currently 77 condos listed for sale in Legacy Dunes and only 13 of them are bank owned.  The rest are all short sales which puts you at 64.  It’s safe to assume that at least those 64 people are not paying their monthly condo association dues.  When you factor that number in with how many units there are in the neighborhood the number is right around 15%.

Reason #4: 90% of the condos currently for sale in Legacy Dunes are Short Sales
This is the biggest reason why Legacy Dunes condos are so cheap.  There are currently 77 Condos for sale in Legacy Dunes, 64 of them are short sales.  Short sales are NOT real prices unless stated “bank approved” which is why all the prices look so low.  I’m not going to get into all the reasons why you should avoid short sales like the plague (that’s a whole new article) but if you want to actually close on the condo and become a homeowner in Legacy Dunes the smartest course of action to take would be to stick with the bank owned condos and those are competitive to buy. Please look for our up and coming guide on “How To Buy a Bank Owned Vacation Home Near Disney”.

Legacy Dunes Bank Owned Condo List

That being said, Legacy Dunes is not necessarily a bad option for the vacation home buyer who wants on site management (they take 40% of your booking), who can pay cash and doesn’t mind the steep HOA fees.  You can get a great bank owned deal in Legacy Dunes Condos right now however please keep in mind that the community itself is not as glamorous in reality as it is in the pictures.  If you dont mind the drab colors and not so fancy clubhouse than jump on it because there are currently bidding wars on the bank owned condos in Legacy Dunes and if you’re not ready to make a move you will miss out.  The prices have hit rock bottom in there and now is the time to get in on it.

Get Our Free Legacy Dunes Neighborhood Report Packed With Everything You Need To Know Before You Buy

Legacy Dunes HOA Contact Information
Legacy Dunes HOA Fees
Legacy Dunes Long and Short Term Rental Rates
Legacy Dunes School Zoning Information
Legacy Dunes Property Tax Information
Legacy Dunes Neighborhood Information
Legacy Dunes Property Management Contracts and Much More!

$119,900 :: 109 HARWOOD CIR, KISSIMMEE FL, 34744

3 beds, 2.00 full 1.00 half baths
Property Size: 2,086 sq ft
Lot Size: 5,662 sq ft
Added: 08/29/08, Last Updated: 03/27/09
Property Type: Residential / All, Residential / Single Family
MLS Number: S4642136
Tract: REMINGTON PH 1 TRACT D
The Price of this Listing was last reduced on 3/28/2009 by 10%

Nice 3 bedroom, 2 bath 2 story pool home with golf course view. Separate formal living / dining room + kitchen with breakfast nook that flows to the family room. Kitchen has light cabinets+ closet pantry + breakfast bar. All living area have neutral tile floors. Master bedroom is downstairs + master bath has separate tub + dual sinks + separate shower.

Listed With COLDWELL BANKER ACKLEY REALTY

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Brought to you by Cozy Homes Real Estate. Call me today at 561-723-4265, or visit my website at www.ThePinkFlamingo.info!

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$219,900 :: 10832 PRIEBE RD, CLERMONT FL, 34711

4 beds, 3.00 baths
Property Size: 3,263 sq ft
Lot Size: 0 sq ft
Added: 03/26/09, Last Updated: 03/27/09
Property Type: Residential / All, Residential / Single Family
MLS Number: O4904974
Tract: MARTINS LANDING
The Price of this Listing was last reduced on 3/28/2009 by 11%

This home shows NEW. What an outstanding floor plan. The home has large rooms and a private family room. The home has all the bedrooms and baths on the first floor. This is a gated community with plans underway for a picnic area and boatdock. This home is well appointed and will not disappoint your buyer. This is a great price for this home. New sod will be installed. Show and sell today.

Listed With ASSIST 2 SELL BUYERS & SELLERS

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Brought to you by Cozy Homes Real Estate. Call me today at 561-723-4265, or visit my website at www.ThePinkFlamingo.info!

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