About Lake Mary's Timacuan

Home sales in Timacuan have continued in November at a slow pace and real estate values have seen another slight decline. 2 none golf course homes have sold during the month of November.

One sale was on 793 Musago Run, Solid Rock Realty sold it as a none distressed sale, and it closed on 11/19/2010 for $307,500. Built in 1996, it was a 4 bedroom 3.1 bath home 2586 sq. ft. with a screened in pool and a 2 car garage. It sold within 35 days at 95% of asking price, at $118.91 per sq. ft.

The other home sold at 522 Alokee Ct, by Watson Realty and it sold in 45 days for 94.1 % of asking price for $402,500 or $130.89 per sq. ft. This also was a none distressed sale. The home had 3037 sq. ft. 5 bedrooms 4 bath and a screened in pool located on a cul-de-sac and conservation lot. As of December 27th there are still 19 other homes for sale and 3 are pending.

The supply far outpaces the demand and therefore prices over the next 12 months will have to suffer as the market forces are driving the Timacuan real estate values. Without a doubt, Timacuan home sales have seen a huge increase in 2010 over the prior year and we hope that 2011 will be another strong year or even a better year for Timacuan home seller.

Home Sales in Timacuan – Lake Mary, Florida

Why do Lake Mary homebuyers choose Timacuan?

• Desirable location off Rinehart Road
• Minutes to Lake Mary Boulevard and Interstate 4
• 5 Minutes to Colonial TownPark
• 18 Hole Golf Cours
• The Bender Golf School
• Neighborhood Publix and Restaurants
• Seminole County Schools

The Timacuan townhouses starting in the high 100’s & homes starting in the 200’s

Visit the Move To Lake Mary Blog for details about the homes sold in Magnolia Plantation last month.

Timacuan home sales over the prior year have increased by 111% as of September 2010 which is actually great news. There were 9 home sales in 2009 in Timacuan and there were 19 sales so far in 2010, time to celebrate. Well, not so fast, yes the home sale numbers are great, however the increases in sales were generated by the reduction in prices. The median home sale price in 2009 for the first 10 months period was $395,000 or $131.50 per sqf. This year the median price is $310,000 and $123.70 per sqf. So the median price per home in Timacuan went down by 21.7% compared to last year and the price per sqf. declined by 6%. So sale increases were compensated by price reductions and I do not believe we have seen the end of it. The median price of all the 26 listed homes in Timacuan is $337,000 or $27,000 over the current prices buyers are willing to pay or 108% overpriced. So let’s look at it this way, we have 25 homes for sale, 9 of these homes are in short sale, which states 36% of the homes are in financial distress. What does this mean in terms of home values, well the 36% distressed home statistic in Timacuan is like the tip of the iceberg, the biggest part is always under water, and therefore the real distressed home stats are much higher, these homes have not shown their ugly head. Now let’s also look at the reality of the situation. There are 25 homes for sale, 7 of these homes are pending, mostly the short sales are pending not the traditional sales. So if you look at the 19 sales over the past 10 months, there are on the average 2 homes sold per month and this calculates to a 12.5 months of absorption. So, if there are no additional homes being added to the inventory it would take 12.5 months to sell off the inventory provided of course no additional homes would be coming on the market and demand stays the same.Not all situations of course are the same and each home needs to be looked at individually and if you want to really know what the home value is, please give me a call at 407-330-2181. Or go to www.orlandoluxuryhomes4sale.com.

If you are facing a difficult time and need some help with a possible foreclosure please go to my distressed property website at www.orlandoshortsalesrealtor.com, I am a CDPE, certified distressed property expert and I would be glad to assist you, after all I live in Timacuan as well.

Timacuan Real Estate is a delightful golf community located in quiet and serene Lake Mary, Florida. Timacuan encompasses nine different neighborhoods, each with its own distinctive personality, so there is a right fit for everyone. The separate communities include: Clubhouse Cove, Eagle Run, Hopewell Creek, Hunters Ridge, Lake Dawson, Signature Cove, Stratton Hill and Summerlin. 550 of these dazzling homes have incredible water and golf views. The community also accommodates the Timacuan Golf and Country Club, ranked 14th best golf club in the state. Here you will find the delicious Timacuan Bar & Grill, an expertly-appointed pro shop and brilliant practice facilities. Lake Dawson and Lake Crystal are nearby, so you indulge is water sports, boating or fishing. The lakes are the ideal destination on a gorgeous sunny, Florida day.

The schools zoned for Timacuan are Northwest Cluster elementary, Millennium Middle School, and Seminole High School.

Timacuan is conveniently located off Rinehart Road and Timacuan Blvd, 7 minutes to the intersection at Paola Road East (25th Street), 9 minutes to Interstate 4, and 29 minutes to downtown Orlando.

TIMACUAN LAKE MARY, FL MLS LISTINGS

• Location: Off Rinehart Road and Timacuan Blvd, in Lake Mary, Florida
• Property Type: Single Family Homes, Townhomes
• Amenities: Gated Community, Golf Community
• Density: 550 Home Sites

To see all of the Timacuan homes for sale visit You can visit Timacuan Real Estate or visit our communities page and learn about the best communities around Central Florida.

Based on recent sales activity, luxury homes in Lake Mary can take twice as long to sell than modest homes.

In addition, those homes that eventually sell are discounted 30% or more.

Lake Mary Luxury Homes (Priced $500,000 and up)
Single Family Houses Only	Houses for Sale	Houses with Contracts	Houses Sold in Last 3 Months
7/11/2009
RECENT ACTIVITY	85	16	17
Average Square Feet	4263	3607	3770
Average Price per Square Foot	$216	$168	$160
Average Days on Market	276	181	157
Average Price	$944,369	$603,643	$562,900
Months Required to Sell Current Inventory of Houses for Sale	15.0
Price Ratio Compared to Solds	168%	107%

Take a look at the deep discounts required to sell the luxury properties shown below, and you’ll understand the sacrifices involved.

To the disappointment of us all, market value is never set in stone. What a house was worth two years ago has no bearing on what that same house is worth today.

Rather, market value is arrived at exclusively by the buyer and never by the seller. What the buyer is willing to pay always prevails in any home purchase, which in turn determines market value for future sales. Sellers have no control over the buyer’s willingness to buy or the price the buyer is prepared to pay.

After taking into consideration the condition of the property as well as features, location, desirability, and most importantly, current market conditions, the buyer will ultimately make an offer based on personal financial concerns and — always, always, always — recent sales. Another way of putting it, a buyer will study what recent buyers have been willing to pay on comparable properties and make her decision accordingly.

Sometimes current market value can be ridiculously high. No homeowner would ever turn down an offer that puts a premium on his house.

Conversely, market value can be ridiculously low, so low that a homeowner might be willing to wait for the ‘right’ price to come along. The ‘right’ price in this buyer’s market of all buyer’s markets, unfortunately, may be lower next month, and even lower the month after that.

These days, severe economic conditions, rising unemployment, and the glut of foreclosures and short sales come together to make buyers extra cautious.

In order to sell, homeowners must — now more than ever before — think like a buyer. No one is going to pay more for a property than it’s worth in today’s marketplace.

The owners of the homes listed below came to this realization. Some waited a year or more before understanding and acting. Others understood at the outset what they had to do to get their houses sold sooner rather than later.

Don’t be one of the late bloomers, not if you want to sell your house now!

Street	Date Sold	Square Feet	Orig List Price	Sold Price	% Sold to List	Days on Market
Redwood Grove	7/8/2009	3038	$635,000	$513,000	81%	141
Willowlake	6/30/2009	3303	$614,900	$490,000	80%	220
Sweetgum Valley	6/30/2009	3696	$685,000	$546,000	80%	137
Rolex Point	6/22/2009	4924	$1,304,860	$600,000	46%	613
Cricklewood	6/19/2009	2839	$549,000	$500,000	91%	77
Henley Downs	6/19/2009	4061	$979,500	$850,000	87%	26
Bridgewater	6/18/2009	4578	$995,000	$700,000	70%	300
Spaulding	6/16/2009	3839	$779,000	$620,000	80%	176
Shadowmoss	6/12/2009	3835	$665,000	$583,500	88%	109
Redwood Grove	5/11/2009	3038	$599,000	$520,000	87%	57
Brackenhurst	5/4/2009	4559	$1,474,900	$900,000	61%	607

Properties have been listed and sold by various MLS members. Data drawn from the Mid-Florida Regional Multiple Listing Service. This report is valuable for estimating current market values in the designated community or subdivision.