Real estate briefs

Current market conditions encourage buyers to act now

As existing Orlando-area home values continue to climb, Winter Park Realtor Scott Hillman says we can expect to see more undecided buyers moved to making purchase decisions, while overall market conditions remain favorable which will, in turn, reduce existing inventory.

“On the surface, the upward trend in existing home values would appear to hurt affordability, but in actuality it moves buyers who’ve been sitting on the fence to pull the trigger and make purchases while prices and market conditions remain favorable,” said Hillman, president of Fannie Hillman + Associates, recognized as one of Central Florida’s top residential real estate brokerages, and a leader in the sale of luxury lakefront homes.

Median sold prices of existing homes in Orange and Seminole counties have grown nearly 10.6 percent in the first five months (January-May) of this year, and are up 13.3 percent over the median sold prices for existing homes in that same five-month period last year, Hillman said.

In addition to rising prices, another indicator of market strength is current inventory, which totaled 5,614 homes on May 29, a robust 54.8 percent reduction of the 12,422 homes that were on the market on May 31.

Add to those factors record-low home loan rates averaging 2.97 percent for a 15-year, fixed-rate mortgage and 3.75 percent for a 30-year, fixed-rate mortgage on May 31, according to a Freddie Mac report.

For more information call 407-644-1234, visit their office at 205 W. Fairbanks Ave., or log on to the company’s website at fanniehillman.com

Kelly Price agents honored for real estate success

After each individually making Orlando Magazine’s Hot 100 Real Estate List an impressive seven years in a row, Kelly L. Price and Pamela Ryan were inducted into the Hot 100 Hall of Fame.

NAI Realvest negotiates lease for non-profit organization

NAI Realvest recently negotiated a new lease agreement for 2,000 square feet of office space at Herndon Center, 615-F Herndon Ave. in Orlando. Michael Heidrich, a principal at NAI Realvest, negotiated the lease representing the landlord, LBJ Properties of Winter Park. The tenant, Mi Familia Vota education fund, is a nationwide non-profit organization providing technical education to young Hispanic workers.

Stirling Sotheby’s gains area on S.R. 434

Stirling Sotheby’s International Realty has been named exclusive sales and marketing agents for a 5.23-acre commercial development site on State Road 434 in Winter Springs.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said the property is zoned C-1 and offers 890 feet of frontage on S.R. 434.

Interior remodeling project begins in Sanford

Cuhaci & Peterson Architects, based in Orlando’s Baldwin Park, recently completed design of a new Seasons 52 restaurant in Sacramento, Calif. Cuhaci & Peterson is now working with the New Tribes Mission organization located at 1000 E. First St. in Sanford to plan for an interior remodeling project.

Interior upgrades completed at World Golf Village

Altamonte Springs-based construction manager Roger B. Kennedy Inc. completed Building 3 Interior Upgrades at Bluegreen’s Grande Villas at World Golf Village, home to the World Golf Hall of Fame in St. Augustine. Kennedy’s scope of work at the five-story, 31-unit building featured new granite countertops, travertine tile, hardwood flooring, carpeting, custom wood trim, and appliances, as well as new plumbing and electrical fixtures.

Stirling Sotheby’s completes sale in Windermere

Stirling Sotheby’s International Realty recently closed on the $1.12 million cash sale of a four-bedroom, 4.5-bath luxury home overlooking Lake Robert at Waterford Pointe in Windermere. International Luxury Home Specialist Benjiman Hillman negotiated the sale on behalf of the seller, who lives in New Zealand. The buyer, who currently lives in Brazil, made an offer on the property only 42 days after Hillman listed it.

Mattamy Homes names two new home counselors

Mattamy Homes US Group, the U.S. division of Canada’s largest homebuilder, recently appointed Elena Colón and Leisa Zanders as New Home Counselors in its Orlando Division.

Princeton Elementary remodel almost complete

Shaw Mechanical Services of Orlando is nearing completion of a contract with Doster Construction Company for the Princeton Elementary School in Orlando. The contract, valued at $1.47 million consists of 27,600 feet of remodel and 49,200 square feet of new construction.