OCR Text |
Show Friday, October 6, 1995 THE DAILY HERALD, Heathrow in Seminole County, and Country Club. Afflcbach said Fla. Orlando Sentinel at least 15 percent of the homes in Another key is to go for low the southwest Volusia If DeLand, Fla.. businessman County maintenance. Brevard County. community are second homes Bud Lawrence sits down to read a Fla., builder Bo who is owned by people from other states. book, either the phone rings 14 a community of vacation building It's not only Northerners who limes or he thinks of things he has and retirement homes, said fill Florida's condos. cabins and people to do. should consider having small yards custom beach homes. Florida and He has an answer to that. with native plants or no lawn at all. California had the highest number though. And rather than getting an ol residents inclined to purchase Lawrence has a condo in Day-ton- a expansive retreat. said nearby vacation homes, according Beach where he can go to get something only large enough to to the resort association's study by escape the daily stresses and give meet your needs. "Chances are. in Ragat. Associates in Eugene. Ore. him time away from life's constant a second home you're just The proof is on the pavement. going to demands. There he can unwind, be sleeping there because you're Every Friday afternoon and Saturread and. most importantly, spend to be out and about." he going day morning the dual residents can time reaquainting himself with his said. be seen trekking across Interstate 4 wife of 13 years. Other advise buyers to or the Bee Line Expressway with "It's like a brand-neworld." look to expertse retirement weekend groceries and beach gear he said. needs and get a place that is handin tow. Most people surveyed recently accessible. icap "Our biggest sales go to people for the American Resort DevelopWhether you're considering a in the slate of Florida." said Sherry ment Association would like to be second address in Aspen. Colo.. Davidson, vice president of Peck in Lawrence's easy shoes. A Asheville, N.C., or St. Real Estate, the largest condominiAugustine. national phone survey of ,000 resthe market is a Fla., um developer in Daylona Beach. researching idents found that 60 percent of must. You can begin pricing propAt Peck's Ormond Heritage contnem believe they have some erties by looking at newspaper in Ormond Beach. 83 dominium chance of buying a vacation home. classified advertisements. Public percent of the sales have been to The number of e hopefuls libraries have newspapers from Floridians. Davidson said. has more than doubled since 1990. other areas of the country. Even if "It's like taking mini vacations the survey reported. the listed properties are not of whenever you have a weekend." Interest rates remain low and interest, they do give phone numsaid Norma Vela.quc. who leaves the market has enough inventory to bers for real estate professionals her Altamonle Springs. Fla.. home make the timing right for purchasiwho specialize in vacation homes. and Christian bookstore behind on ng a second home, industry In addition, local real estate agents weekends to unwind in her Dayexperts say. and friends or family in other Beach condominium. lona Finding the right vacation home locales can refer sales Beach condos can be purchased agents. in which to relax takes time and Second homes are nothing new for about $100,000. The cosi work. Shooners must wade to Florida where 6 of all increases as the condo elevator rispercent through a myriad of issues loca homes arc second residences, condos fetches, with upper-floo- r tion, type ol home, costs, mainteCensus the U.S. to Delana than more $200.(XK). according ing nance, rental possibilities, tax con Bureau. For more than a century Smith, a Maitland account represequences and long-terbenefits. "snowbirds" have nested in Florisentative who specializes in conBuilders and two-hoowners da's winters. dominium tropical financing, said the own'lave a number of suggestions for In the resort association's surer of a SMX).(XX) house would need svople looking for a perennial set- a gross income of about $75. (XX) in vey, the state far surpassed any iway. First, find a development or market. in the second-hom- e other order to buv a SHX).(KX) condo. town with activities you will More than 15 percent of people with 1(1 percent or $10,000 That's nipy. for the association resort alter adding in the cost down surveyed Sounds simple enough, but chose Florida as the most desirable lor insurance, taxes and maintehio residents Freddie and destination. Californance lees. The monthly payment Ray second-hom- e iescr found out after in with X.5 pernia second came a for that condo would be about buying hisc in Jupiter, Fla.. that not all cent. SI, 000. she said. nation areas are created equal, "For the most part, everyone is To help make those payments. 'if golfing there didn't suit looking at moving down here and Velazquez said she and her husieser. The couple sold that house band icnt their condo about 10 eventually making it their primary 'id recently weeks a year, usually during weeks bought another in the residence." said Jack Afflcbach. H course of "cneral manager lor DeBarv Golf crowded with vacationers. In addi- community Bar-Navo- I Bar-Nav- w long-rang- 1 two-hom- 21 f tay New American dream is a vacatSdii By MARY SHANKUN - Page Home Magazine, for resort association. Buying land on which to build was the second most popular choice and condos were the third. Each summer, Floridians flock to their North Carolina roosts. Former Orlando Mayor Carl Langford and his wife in the Marietta lived part-lim- e Smoky Mountains until making it their permanent address several years ago: clubs of Florida residents socialize all summer in mountain resort towns. At Wolf Laurel, a 5.0' ' ac- -. nh ski slopes and ; community heated p mini of Asi,cilL" N.C.. aboi 9) percent of the .2( buyers arc from Florida and retui n to their other homes each winter said sales agent Mercer Davis. Most of the Florida buyers are nearing retirement, although more young families are staking a North Carolina claim. Davis said. In North Carolina, prices are similar to those in Florida resorts. Davis said his development had houses from $70.(XX) to $350,000. He said most buyers put 20 percent down and finance the balance with fixed-ral- e r, loan. People a can gel by paying as little as $750 a month, including taxes, insurance and maintenance fees, when they buy the $70,000 vacation house. Davis said. tion. the condo cuts back on vacation expenses. The couple lives modestly, works hard and saves money in order to afford the condo. They spent years shopping for something that could one day become their retirement home. Smith said many condo buyers are near retirement and take out an loan with a lower adjustable-rat- e interest rate. They sell their primary residence after a few years and often pay off the balance with the proceeds from the sale, she said. Other buyers will get balloon notes in which payments are made until entire balance the monthly comes due after five or seven years. If you're considering buying a condominium, ask residents and the management about how smoothly the condo asstxiation or board operates. Lawrence of DeLand. who has owned several con Jos. said that an ineffective board can run off good management and leave your without someone capable looking over it. Also, he said, owners of second-hom- e condos should be as active as possible on the board. "When people are indifferent, problems occur." he said. Single-famil- y homes and cabins, which is North Carolina's stock and trade in vacation homos, is the preferred secondary home for 6 percent ol people surveyed er MUSCULAR DYSTROPHY ASSOCIATION m A Lovely Custom Home in the "Woods at Riverside" - VIAFAX (vi' o faks) -- il2 North Cottonwood Lane, "By Owner" Real Estate Listings Avoid paying 6 in unnecessary real estate commissions. EW'- - ViAFAX Ki'dl fcswir Using ' -- HEl lav i Mi,') . I mi bgS?ffi 110 ' south Prpvo bam 1 a7Tq tt detached garage large garoen area back yard lenced S99.530 1 NnoraJ pluj Cji-- 5 Bjihs $599,000 Iircjilacs Custom Natural li.jl: (i hm It Suk.jm 'l!n:J - ,i; Yj, ui nj Ai.nr jnc inia.im ,,ur, Hum K lum-- i lt:M Vrir r kith Kitchen Vd- - m ll ' u l;,un st :u2 CirGiMgr- F Mtu reafu"''j Clean, Natum' Gat, j in iyr-M- Eut 400 3 bedrooms ippmSSI Btu..inb t 3 "3DC v.: t I d 3300 North ..: 3Mi vw ''rovo (Apprm 655 So.u1n 1550 V W W. n W f owwrs, w V 3233 East. PI Grove Shadowbrook Circle. Prove bedrooms 2 bath Condo in w etevato. totso' amenmes 3 fiattv, car pad extra large flout 1 Call for a FREE Ihl of additional "By Owner" properties 24 hours a day, 7 days a week! 226-567- 7 VIA in .on, Fax , Investment Properties Corporation a p n p a p A Reel E f. t t p r k r Cull For an Appointment 373-665- 5 - 376-072- 8 - 373-99- 3 5 |