Allison Stewart BROKER/ASSOC/REALTOR ®St. Cloud Florida

"It was in the mid 50's on Thrusday, Friday we got another 9" of snow"-This email came from a Frustrated buyer waiting for the weather to clear to come to sunny Florida. It almost makes me feel guilty I was wearing short sleeves. Almost. We just installed the pool, and I dare not tell that to my snow bound customers.

Winter has been relentless this year. In the midwest, they have achieved record number of snowfalls.

In Florida when it is 70 degrees, we grab a sweater.

A winter scene can be beautiful.

Floridians forget how difficult it becomes just to do basic things with a sheet of ice covering the sidewalks and streets.

Winter. There is nothing romantic about it.

The biggest adjustment people have to make when considering living in Florida is the cost of living may not be less but the wages you earn may be. A fair trade given our fantastic year round climate. As home priced have fallen, there are some incredible buys for housing which would cost nearly double elsewhere.

Gas is at $3.21 a gallon on average in Central Florida -at least at the time of this writing.

Just as the hurricanes impacted us in 2004, the snow is having the same impact in the Mid-west this year.

For 6 weeks things were a little difficult in Florida then- but 6 months is a lot longer to be coping with the cold. Even with the 100 year storm pattern we experienced back then, few people left because of it.

Overall life in Florida is not just for retirees.

More young families are moving every year to seek warmer climates.

Tourism offers plenty of jobs.

The hospitality industry has experienced record growth over the past decade, and despite bleak economic news, Florida is doing just fine.

New events and attractions open on a regular basis.

The median age for residents in St. Cloud is now 34.7 years.

So if you have been wondering if now is the best time to consider a move- you may be right. Housing prices are in your favor here. The weather is warm and wonderful and there are jobs to be had.

Equestrian Communities. Not a new concept, but certainly a highly desireable one. Osceola County, Florida at one time boasted its rich farmland heritage. Sprawling fields, perfect for raising horses and cattle. Up until two years ago, the high end housing plan included equestrian facilities. There were three major places in central Osceola County, less than twenty miles from Disney that were considered to be the Ultimate Equestrian combination. Today, there are only two remaining.

Reunion near Disney's back door and to the east Bay Lake Ranch. Each has a very different feel to it. Reunion, features a golf community, community pool, and luxury housing within a planned unit development setting. Barn and stable facilities are on property and offer full boarding faciltiies for residents.

Bay Lake Ranch is a community of custom built homes, on acreage twenty miles east of Disney. All custom built homes, on a minimum of one acre lots or more, allowing horse ownership to be individual. The popularity of Bay Lake Ranch is its convenience and seclusion. It is close to everything yet tucked away just off the beaten path despite the Hwy192 Irlo Bronson Road Expansion project.

To the west, is Melbourne Beach. To the North Orlando International Airport.

Despite the current Real Estate Market trend in typical develpmental housing, the equestrian based communities are fairing well overall and have maintained property equity. This in part can be attributed to the larger lots, custom homes and stable property taxes. Zoned as equestrian mini estates, homeowners in Bay Lake Ranch often enjoy horse ownership. It is not uncommon to see mounted riders on the weekends enjoying the fresh air and walking along the roadside.

Despite the expansion of developmental style housing throughout Osceola County, there is still a place where kids can be kids, climb big old shade trees, and experience life a mini farm. Fresh eggs daily, the crow of a rooster, and feel the gentle breeze blow through their hair as they canter carefree along the counrty road. Just as easily, they can climb int the family SUV and spend the day at Disney only 30 short minutes away.

Combining it would appear the best of both worlds.

Lake Lizzie Nature Preserve is two miles up on Old Melbourne Hwy and offers extended trail riding which is Federally controlled.

Lately, the fear and concerns over the sagging Real Estate Market, Adjustable rates mortgages, and lathargic economy have many homeowners worried their equity is evaporating. While this is true is most areas, there are still a few areas unimpacted by over development, and as a result the equity has held steadfast. Take for instance Bay Lake Ranch,located on the eastern side of St. Cloud, Florida in Osceola County.

Nestled between Melbourne and Disney, in the shadow of Harmony, off the main east west artery (192) Bay Lake Lake Ranch covers several miles. It is an equestrian estate community of custom built homes. The homes ranging in size from 1200 sq ft to 7000+ square feet are situated on lots varying in size from one to five acres. It borders Bay Lake. There are natural privately owned conservation areas which allow ample Green space.

What makes this community so unique are the large lots, equestrian zoning, the close proximity to town, and traveling to the attractions, beaches, airport, or Orlando can be done in forty minutes or less. It is a rather unconventional "development" in that all the homes were custom built by individuals not mass produced by the Big Builders. As a result, they are all unique and highly individualized.

Each property reflects the owners personalities and pride of ownership is evident. There are a variety of home styles, and prices range from $249,000 to $1.9 Million dollars. Vacant lot land improvements have appreciated as much as 1100% as newer, larger, lovely custom built homes were erected on ample acreage.

There are currently 18 lots being offered for sale. Prices range from $37,500 to $285,000. On the weekends, it is not uncommon to see horses and their mounts enjoying a peaceful walk or trot along the roadside. State Protected Lake Lizzie Preserve and trails are located just 2 miles up the road. As you drive through Bay Lake Ranch horses can be seen grazing on the privately owned mini estates. A stark contrast to the overcrowded planned Unit Developments and zero lot lines so many newer communities are building.

What one sees here is a vanishing commodity. Land. At night the stars blanket the skies, and are readily available for gazing. It is quiet and peaceful yet close to the conveniences of stores, banks, restaurants and shopping. Secluded yet accessible. A much sought after refuge from the choas and congestion of urban blight. Yes, twenty years ago, it likely was in the middle of no where, but a lot has changed since then; like the four lane road expansion of Hwy 192. Yet despite progress, there is a still remaining refuge for those seeking a quiet escape from the rest of the world.

Long before the "Green Theme" became a sales tool, Bay Lake Ranch captured the natural essence of what being green is really all about. Acreage. Folks here enjoy nature, have pride in ownership and disbanded the homeowners association years ago. Many of the local children participate in 4-H. Before high tech interactive water parks there were campfires, and tree climbing, bike riding and fort building and hay rides at Halloween. These kids have a rare and unique opportunity to make lasting memories of simple pleasures while the high tech world is only a short car ride away.

As the Mega Devlopments loom in the horizon, and consume the farmlands one thing will remain certain, there will always be a desire for wide open spaces.

Developers may have passed the first hurdle in getting the approval for the largest "Mega Development" Building Project proposed to bring in an additional 36,000 people to Osceola County by 2025. The proposal includes building an additional 13,000 homes near the new interchange by the Florida Turnpike along the east side of Lake Tohopekaliga known as (Lake Toho) For whom? IS the nagging question one should ponder.

Developer Charles Pratt from New Jersey and Jupiter recently purchased ranchland from the Partin Family members for a reported sum of $220 Million dollars for the project called Green Island. This is the third Toho project to clear review by the East Central Florida Regional Planning Council, which makes recommendations to local governments regarding large developments. For local government the impact fees, improvements, and increase in tax revenue may indeed be enticing. For the people who actually live here, the additional overcrowding in schools, traffic and lack of jobs may make Osceola County much less appealing.

In an economic recession one must ponder what the purpose of making recommendations for projects of this magnitude would be? St. Cloud, Florida which also borders on Lake Toho has no Industrial Revenue, No Tourist Revenue, and relies on Tax Revenue as its sole means of support. The City's population is at present approximately 29,000 people. This project would bring a population larger than Apopka, and larger than St. Cloud in an area of 6000 acres. Homeowners and business owners are already struggling under current economic pressure.

But fear not, there are "Green themed" protections under consideration. They are proposing protection for the three sandhill hill nesting marshes, a ban on St. Augustine grass, no lakefront homes, and a plan to plant pines trees for bald eagle nesting sites.Along with 660 foot buffer around eagle nests and will "set the standard" for future projects according to council planners.

The Osceola County Commission could vote on Green Island as early as April. This is about the time the Northern most development Toho Preserve (3000 homes on 1600 acres off Neptune Road) is also being scheduled for a hearing. There has been vigorous opposition from neighbors and and suggestions that the land be purchased from DR Horton for a nature park. With housing at an all time high in record levels of inventory (over 7000 units for sale) and a projected 2.4 year inventory of homes on the market, homes prices falling 30% (+/-) how exactly would this project benefit the residents?

Turtle Creek (Levitt & Sons) has failed and filed for bankruptcy. (Approved previously for 1536 units) Sales in Harmony are stalled, and Stevens Plantation is failing to thrive as anticipated. With so many vacant properties there appears to be no need for additional housing in this area of Osceola County.

Most of the Major builders have postponed or cancelled expansion phases on many of the already approved developments. A Mega Development such as the one proposed, could potential saturate an already soaked market of pre-existing and unsold new and existing homes.

Osceola County may have to redesign their logo from this...

To this

Read More>

The question everyone seems to be asking in Real Estate is how low will prices go? There is no precise way to measure when the bottom will it or has hit until after it happens. What we are seeing is a return to value and in some areas the housing recession has hit harder than others.

In Central Florida in Osceola County Florida, There are at present an estimated 4100 properties according Realty Trac in some form of foreclosure. This is not a local problem by any means. It is however a welcome relief to buyers who had to wait out the Market Boom. The emergence of qualified first time buyers has triggered an acceleration in showings and subsequently offers. Sellers who are comitted to selling their homes, have reduced prices to affordable levels and local banks are offering mortgages at competive rates. Real Estate Owned Properties held by banks are now discovering how competitive the market actually is. Forced to reduced their asking prices to liquidate inventory they are now becoming acutely aware of what distressed sellers experienced before they were foreclosed upon. Having to take significant losses will bring few consumers to tears for the financial institutions who profited handsomely during the housing market boom.

Entire developements like Levitt & Sons Turtle Creek Subdivision, which the city had hoped would generate extensive tax revenue have fallen short and in Turtle Creek's case fallen under the weight of the crushing housing market recession. Leaving lenders out millions of dollars in unrecoverable loans.

People Question why The city however continues to discuss the "need to for Affordable Housing" and a proposed project "The Preserve" for educators primarily, seems somewhat ridiculous in the wake of the declining home prices and property values. Educators have enough means to qualify for many of the thousands of homes currently for sale in Osceola County. So one must ponder why would the officials of the City of St. Cloud consider a building project during a Market Recession? There is no shortgage of homes the current market inventory is 28 months or a little over 2.4 years. There is a great deal of money the city would capture should such a housing project launch.

Starter Homes have made a come back. Smaller, freshly renovated and loaded with charm, these wonderful vintage homes make great places for first time home buyers to look. In addition, builders closing out inventory homes at steeply reduced prices make even brand new homes afforable. Townhomes are another option and have reduced their asking prices as well.

There is sufficient quantities of available housing for virtually every price range and buyers are responding. The "sweet spot" of market pricing at present appears to be in the $200,000 and under price range. When will it hit bottom? Perhaps it already has. It appears 2008 may be the year to get in the game.

By the time you hear it on the news, prices will be on the rebound once again.