Anyone live in Lake Mary?

[lilteapot]

Does anyone know how much the HOA are? Are they monthly or yearly? Thanks[/b]

[simplylaura]

Hi, we are considering a move to the Orlando area and also would like to purchase in a good neighbourhood that keeps its real estate values (hopefully the bottom is near)...in the long run when our economy picks up. What areas of Lake Mary/Heathrow have lakes you can wakeboard on? We are moving from Vancouver, BC and our teenage boys will be wakeboarding as much as they can. Our price range is in the $500-600K range.

[lilteapot]

Hi there, I don't know anything about wakeboarding. I am going to Lake Mary in a few weeks to look at the houses, since the market is right to buy now. I only have two days to look though, any pointers or tips on which development is best, would be most appreciated. Thanks

[aneftp]

Originally Posted by simplylaura

Hi, we are considering a move to the Orlando area and also would like to purchase in a good neighbourhood that keeps its real estate values (hopefully the bottom is near)...in the long run when our economy picks up. What areas of Lake Mary/Heathrow have lakes you can wakeboard on? We are moving from Vancouver, BC and our teenage boys will be wakeboarding as much as they can. Our price range is in the $500-600K range.

The are probably at least 20 properties in the 500-600K in both Heathrow and Magnolia Plantation that we looked at.

We settled on a property in Heathrow.

Some have dramatically dropped their prices within the past 3 months. There's a really nice home in Magnolia Plantation that's almost 4000 square feet that's now priced at around 585K with all the upgrades, pool and spa. There's another home in MP that's priced around 513K with tons of upgrades an around 3300 square feet. I just do not think there are either enough qualified buyers on the market or there's a backlog of homeowners who want to move up but can't sell their current home.

Those homes that are priced in 2003/early 2004 levels are selling very quickly in Heathrow or other parts of Lake Mary. Lake Mary/Heathrow has maintain their prices "relatively well" from peak prices. By relatively well, I mean its still dropped about 20-25% from peak late 2005/early 2006 prices. Some parts of Central Florida, especially parts with high investor actvity have dropped 35-40%.

There are quite a few "short sales" in the Lake Mary area. However, I did not like the term "short sale" because it's misleading. Many of the listings for short sales were not bank approved yet. If you are interested in a short sale, make sure the listing says, "bank approved" short sale or else you may wait a long time for the bank to get back to you. I believe many of the sellers who list "short sale" have no clue what they are doing. They have assets (cash/stocks/cars that they could liquidate) to pay off some parts of the mortgage but they want to save their assets or hide it from the bank . They just want the bank to eat the cost of the mortgage so that's why many of them are not bank approved. That's why I don't trust short sales. They just too long and there are too many hurdles you have to go through.

As for foreclosures, there aren't a lot of quality foreclosures in the Lake Mary area. It's more affluent. It's not like Deland or parts of Orange County or near Osceola County that have tons of foreclosures. The 2 foreclosures that we liked at in Magnolia Plantation were gone within one week after we saw them. It .was like these quality foreclosures in MP were brought with an "inside job" Before we even had a chance to offer, we found out those foreclosures were under contract

[happinow]

HI. My husband and I are seriously thinking of retiring in or around Lake Mary. We've never visited there but have done research on the computer. Is this a good place to retire? We don't want to be around children as ours are grown. We would like to be in a calm, upscale neighborhood. Any suggestions?? Thanks, Kathy

[kyle19125]

Lake Mary is largely family-oriented as a result of the excellent public schools (or vice versa perhaps). There are some areas that tend to be quieter than others however. In my opinion, the older/more established areas tend to be quieter and less overrun with kids. Check out some of the subdivisions around Mayfair Country Club (which is mostly Sanford, not Lake Mary) or without knowing your definition of "upscale".. my development which is Mayfair Villas. It's a quiet condominium home community (detached homes with yard service) that is primarily a 50+ community located across the street from Mayfair Country Club.

[beckycat]

Originally Posted by happinow

HI. My husband and I are seriously thinking of retiring in or around Lake Mary. We've never visited there but have done research on the computer. Is this a good place to retire? We don't want to be around children as ours are grown. We would like to be in a calm, upscale neighborhood. Any suggestions?? Thanks, Kathy

Try Mt Dora or the Villages instead of Lake Mary.

[Lightning Strike]

Originally Posted by happinow

HI. My husband and I are seriously thinking of retiring in or around Lake Mary. We've never visited there but have done research on the computer. Is this a good place to retire? We don't want to be around children as ours are grown. We would like to be in a calm, upscale neighborhood. Any suggestions?? Thanks, Kathy

If you don't want to be 'around children' then Heathrow is definitely not the place you want to retire to. We just moved to Heathrow and one of the major factors for us was just how many kids there are in Heathrow.

Almost all of our neighbors have children under 5 years, and they often play on the street for hours. Our daughter (2 yrs) absolutely loves it, and the other kids have been very friendly and gone out of their way to make her feel welcome.

So, Heathrow/Lake Mary may not be for you, but for those with young children I think you'd be hard-pressed to find a better location.

[OrlFlaUsa]

Originally Posted by beckycat

Try Mt Dora or the Villages instead of Lake Mary.

Agreed. While Lake Mary is a nice relaxing family life, I wouldn't recommend it for traditional retirees who are seeking isolation.

[linda1988]

Hello all,

I was wondering if anyone could compare Seminole County living and expense to Orange County living and expense. Is one better than the other and why? Which school district is better? I have a special needs child who would be entering 6th grade this September 2011.