31 homes were sold in Lake Mary during the month of August. 7 home sales were short sales [23%} and 5 home sales were bank owned/reo properties [16%} - August distressed home sales were 39% of the market.

For information on the value of your home, please contact me by phone: 407-758-1020 or email: Debbie@MoveToLakeMary.com

I was waffling…  It’s not easy to decide on just what you are going to have at Peach Valley Cafe in Lake Mary, Florida.  My favorite breakfast spot becomes even more appealing as the summer heat starts to fade and we can sit outside, enjoy the beautiful view and fuel up on some hardy fare.

Peach Valley is a favorite spot for Lake Mary residents, the trendy cafe serves breakfast [anytime] and lunch daily.  It’s conveniently located in the Oak Grove Shoppes, next to the Seminole Trail and just outside the gates of Heathrow.  We’ve always had great experiences dining here and the staff is very attentive.

Now that we are coming to the end of summer [I know, I know, it's still HOT] it’s a great time to start thinking about all the places that you can “dine out” and enjoy the best weather in Florida.

Taylor Morrison Homes – Homemade Memories Contest

Taylor Morrison Homes is currently in the final days of their Homemade Memories Contest. The winner of their video contest will receive one year of mortgages payments and you can also to win a year of mortgage/rent payments [$18,000] by registering and voting for one of the entries.

My friends and Altamonte Springs, Florida residents are one of the ten National finalist with their video “Memories Made From Scratch” [Week #2 - second from the left on the Taylor Morrison Site]

Here’s their video… “Memories Made from Scratch”

Vote Today For Week #2!

The Florida Comprehensive Assessment Test [FCAT] is the foundation of the statewide education assessment and accountability program.  The FCAT results translate for the public the “education health” of Florida Students and hold school districts accountable for their progress.

Many homebuyers with children consider FCAT school grades in their decision process, often looking for homes within specific school zones.   Homeowners often perceive an increase in value of their home due to highly ranked schools and promote their zoning when selling and consider it a benefit of the property.

What the FCAT means to the Seminole County Real Estate Market…  Good grades really do matter, not just to students, but to Seminole County homeowners and homebuyers.

Seminole County Elementary Schools

Altamonte Elementary School:  A

Bear Lake Elementary School:  A

Bentley Elementary School:  B

Carillon Elementary School:  A

Casselberry Elementary School:  B

Choices in Learning School: A

Crystal Lake Elementary School:  A

Eastbrook Elementary School:  A

English Estates Elementary School:  B

Evans Elementary School:  A

Forrest City Elementary School:  B

Geneva Elementary School:  A

Goldsboro Elementary Magnet:  A

Hamilton Elementary School:  C

Heathrow Elementary School:  A

Highlands Elementary School:  A

Idyllwilde Elementary School:  B

Keeth Elementary School:  A

Lake Mary Elementary School:  B

Lake Orienta Elementary School:  A

Lawton Elementary School:  A

Layer Elementary School:  B

Longwood Elementary School:  A

Midway Elementary School:  B

Partin Elementary School:  A

Pine Crest Elementary School:  B

Rainbow Elementary School:  A

Redbug Elementary School:  A

Sabal Point Elementary School:  A

Spring Lake Elementary School:  A

Stenstrom Elementary School:  A

Sterling Park Elementary School:  A

Walker Elementary School:  A

Wekiva Elementary School:  A

Wicklow Elementary School:  A

Wilson Elementary School:  A

Winter Springs Elementary School:  A

Woodlands Elementary School:  A

Seminole County Middle Schools

Chiles Middle School:  A

Greenwood Lakes Middle School:  A

Indian Trails Middle School:  A

Jackson Middle School:  A

Markham Middle School:  A

Millenium Middle School:  A

Milwee Middle School:  A

Rock Lake Middle School:  A

Sanford Middle School:  A

South Seminole Middle School:  A

Teague Middle School:  A

Tuskawilla Middle School:  A

Seminole County High Schools

The High School FCAT Grades which include a factor for graduation rates have not been released at the time of this post, but will be available in an update as soon as they are published later this year [grades are expected to be released sometime in November].

For more information about FCAT School Grades, Please visit the Florida Department of Education Website – All information in this post was provided by the Florida Department of Education.

What’s selling on the home front in Lake Mary, Florida?

The majority of the home sales in July were distressed properties, 26 of the sales were condos, 5 townhouses and 45 single family homes.

Lake Mary Townhomes

Least Expensive Townhouse Sale:  Heron Bay in Greenwood Lakes $140,000 ~ 3 Bedroom / 2 Bath ~ 1,561 SF of Living Space @ $89.69 per/SF

Most Expensive Townhouse Sale: Fountain Park  $269,000 ~ 4 Bedroom / 2 Bath ~ 2,087 SF of Living Space @ $128.89 per /SF

Lake Mary Home Sales

Least Expensive Home Sale:  Evansdale [S. Country Club Blvd & Lake Mary Blvd.] $106,000 ~ 3 Bedroom / 2 Bath ~ 1,186 SF of Living Space @ $89.38 per/SF

Most Expensive Home Sale:  Carisbrooke $625,000 ~ 4 Bedroom / 4.5 Baths ~ 3,977 SF of Living Space @ $157.15 per/SF

Lake Mary Condo Sales

Least Expensive Condo Sale: Regency Park at Lake Mary $22,599 ~ 1 Bedroom / 1 Bath  ~ 648 SF of Living Space @ $34.88 per/SF

Most Expensive Condo Sale: The Hamptons of Heathrow $125,000 ~ 3 Bedroom / 2 Bath ~ 1,408 SF of Living Space @ $88.78 per/SF

Lake Mary Real Estate Resoruces…  Help for Homebuyers & Home Owners:

Search for homes in Lake Mary, Florida

What’s my Seminole County Home Worth?

Lake Mary Real Estate Sales Report – July 2010

2010 Lake Mary Schools FCAT Grades

After much controversy, two audits and continuing objections of educators, the State of Florida released the 2010 FCAT results this week.

Seminole County Schools routinely rank high in the State of Florida and Seminole County High Schools currently rank in the top 3% of all High Schools nationwide in the annual Newsweek Magazine poll.

The High School Grades which include a factor for graduation rates have not been released at the time of this post, but will be available in an update as soon as they are published.

Lake Mary Elementary Schools

Crystal Lake Elementary School:  A

Heathrow Elementary School:  A

Lake Mary Elementary School:  B

Lake Mary Middle Schools

Greenwood Lakes Middle School: A

Millenium Middle School: A

Markham Woods Middle School: A

Resources & Links:

For detailed information about FCAT School Grades, Please visit the Florida Department of Education Website.

Search for homes in Seminole County & Lake Mary

If you are interested in having your children attend a specific school, please email me at Debbie@MoveToLakeMary.com for a personal, customized home search for your school of choice.

Lake Mary Homes For Sale

Homes & Condos for sale:  387
Properties listed as short sales: 107 or  28%
Bank Owned/REO Properties:  26 or 7%

Same stuff, different month… The Lake Mary inventory of homes is almost unchanged after the month of July, just one less house for sale and the percentage of distressed properties remain the same .  As we see the Summer Buying Season [the time when families typically move to have a lesser impact on their school aged children] come to a close we will really start to get an accurate picture of where the real estate market is and how much of an impact the First Time Homebuyer Tax Credit affected the market these past few months.

The number of homes under contract has declined by 15% over the past 30 days.  Is the local Lake Mary real estate market is retracting? This decline in homes under contract could be our first indication that the end of the first time homebuyer tax credit  is having a negative effect on our housing market.

Lake Mary Homes Under Contract

Homes & Condos under contract:  167
Short Sales:  95 or 57%
Bank Owned/REO:  28 or 17%
Distressed Properties make up 74% of the homes under contract.

Lake Mary Home Sales

July Home Sales:  72
Short Sales:  10 or 14%
Bank Owned/REO:  30 or 42%

Home Sales in Lake Mary, Florida

Lake Mary Real Estate Market Fact:  56% of the homes sold in Lake Mary, Florida during the month of July were distressed properties, holding at almost the same rate as June.

Real Estate Resources for Lake Mary Homebuyers & Home Owners

Search for homes in Lake Mary, Florida

What’s my Seminole County Home Worth?

Lake Mary Real Estate Sales Report – July 2010

Lake Mary Homes For Sale

Homes & Condos for sale:  388
Properties listed as short sales: 98 or  25%
Bank Owned/REO Properties:  28 or 7%

The current inventory of homes available for sale in Lake Mary declined 7% last month.  Typically as we go through the “Summer Home Buying Season” we see an increase in inventory as more homes enter the marketplace.  We will be watching to see if the decrease in inventory is a trend towards a more balanced market.

Lake Mary Homes Under Contract

Homes & Condos under contract:  198
Short Sales:  103 or 52%
Bank Owned/REO:  52 or 26%
Distressed Properties make up 78% of the homes under contract.

Lake Mary Home Sales

June Home Sales:  80
Short Sales:  20 or 25%
Bank Owned/REO:  23 or 29%

Home Sales in Lake Mary, Florida

Lake Mary Real Estate Market Fact:  54% of the homes sold in Lake Mary, Florida during the month of June were distressed properties.

Lake Mary Real Estate Statistics and homebuyers… Currently one-third of the homes for sale in Lake Mary are distressed properties.  There continues to be an available inventory of homes to purchase that are homeowner owned and are not in pre-foreclosure, distress or bank owned.  If you are considering purchasing a distressed property, please consult with a Certified Distressed Property Expert / CDPE, they have advanced education and are experienced with these more complicated sales.

Real Estate Market Trends and The Lake Mary Homeowner… Understanding the current market value of your home can greatly determine the success in selling your home.  The impact of short sales and foreclosures has had on the market is quite significant and is determined on a town by town and neighborhood by neighborhood basis.

If you are considering selling and want more information about the value of your home, please visit our website for a free home valuation.

Want to learn more about buying or selling a home in Seminole County?  Please email your questions to Debbie@MoveToLakeMary.com

You might want to read:  June 2010 Lake Mary Real Estate Report

Seminole County Homebuyers… the homebuyer tax credit has been extended until Sept 30th, 2010.

The Senate voted yesterday on a stand alone bill [HR 5623] to extend the closing deadline for homebuyers who were under contract on a home by April 30, 2010.   The National Association of REALTORS estimates there are 14,830 homebuyers in Florida who are waiting to close and 180,000 nationwide.

Once the President signs the bill into law many of those patient homebuyers can breath a sigh of relief.

The majority of those waiting to close on their homes are purchasing short sale properties that are stuck in a backlog of files waiting for approval from the servicing lender.

This extension will give many deserving first time homebuyers the time necessary to close and receive the tax credit.

I know one family who’s very pleased with this GOOD NEWS!

Super Size Me?

Not so fast, the McMansion’s days are numbered.

The size of the new single family homes declined in 2009, dropping to an average of 2,438 square feet, which is still considerably larger than the home my husband grew up in with his 3 siblings that was a mere 1,450 square feet, but smaller than many of the 3000+ square foot behemoths that seemed to dominate the neighborhoods under construction during the “housing bubble” when bigger was often equated with being better.

Seeing now that many developers have revamped their original offerings and have opted to build smaller homes at a less expensive price point in order to stay afloat in the “New Economy” makes me hopeful that we’ve learned something during this economic downturn.

Today, more than ever, homebuyers are conscious of the costs associated with owning a home.  Questions about utility costs and taxes dominate my conversations.   I’ve noticed many new buyers entering the market place don’t want to purchase at the top of their “price range”.  The realistic buyers of today work backwards into what size home they can afford, based on the real cost of ownership (principal, interest, taxes, insurance, maintenance and utilities).

Some economists say that we’ve had a fundamental reset of the economy, I think many out there have had a fundamental reset of the American lifestyle.