The Poinciana Crane

Smart Change to Meet in November

The next meeting of Poinciana Residents for Smart Change (PRSC) will be held this coming Monday, November 16, from 9:30 a.m. until about noon.  This is a brainstorming session so bring your creative thinking caps.   PRSC will be focusing on groups goals, plans,  and objectives for next year.  This meeting will be held at the APV Community Center, at the intersection of Walnut & Marigold.

New Retail/Office in front of Lowe's

The Osceola County Association of Realtors, recently announced that Realcap Associates purchased a 3.71-acre site from Avatar at the intersection of Cypress Parkway and Southport.  Apparently ground was broken on this new project.  Groundbreaking for the project's second phase is expected before 2010.  Plans are for a 15,400-square-foot retail and office building.

CFD's Empower HOA's, Communities

While the acronym sounds more like a virus, if it works, CFD's will likely be welcomed as beneficial to Osceola residents as bumble bees are to plants.  A common facilities district or CFD has been implemented by two exclusive communities within the Greater Poinciana area so far: Crescent Lakes and Cypress Woods. 

Cypress Woods' CFD was created in 2007.  Crescent Lakes' was implemented just last year, after the community apparently terminated its homeowners association, HOA, by force.  For communities throughout Osceola being managed by HOA's now ransacked by rampant foreclosures, abandoned homes, disappearing tax bases, and the malfeasance associated with newly depressed communities, CFD's have the unique ability to form teeth.   HOA's dues, for example, could be collected by a CFD instead of an HOA and, if not paid, a CFD could place liens against properties, which HOA's are not empowered to do.

2006 Redux: The Change Remains the Same

The bad news first: According to recent data from the MidFlorida MLS, foreclosures reign supreme in Poinciana.  Nearly 90% of all current sales are properties in some state of foreclosure, like short sales, bank-owned, and foreclosing properties. 

Other than that, Poinciana begins the new year like it was 2006.  With 79 sales in the month of January, a dip from 92 in December 2008, yet it is almost exactly how we started 2006.  (Click on image to see a close-up of the statistics.)

To widen the good news, the market is still getting rid of foreclosures and Poinciana is showing a five-month trend so far towards improvement in both sales and reduction of supply.  The percentage of existing homes in some state of foreclosure decreased, but by only 4% over the last 60 days.  A small change but heading in the right direction.

The number of homes on the market fell below 1,000 ... finally ... to 991 properties.  Barring another wave of foreclosures, Poinciana is headed in the right direction again.  Ready to buy?  Write us.

"Smart Change" Group Working to Expand

How many reasons can we find for a "Smart Change" group in Poinciana?  Let me count a few.  We don't want:

• Poinciana referred to as a "ghost town," as "Angelina of Florida" describes our once bustling expanse of "Disney Preserve" real estate.

• The quality of our community to suffer from the long-term effects of its current housing crisis, such as green pools, which are now ripening for our upcoming hurricane season.

• A lawsuit because some unnamed governor couldn't manage to get an approval for a hospital.

That's why a group of Solivita residents, the same ones who stopped the Lake Hatch Ranch project, are now formalizing plans to start a group they've officially named "Poinciana Residents for Smart Change" or PRSC.(1)  To find out more about joining this growing group, contact Keith Laytham at (863) 496-1884 or email Keith.

The Recovery's Landed

Long before many realized that the housing bubble had burst in 2006, I had asked my broker at RE/MAX Executive Group, "What happened to home buyers?"  Buyers were cooling and far too many homeowners were suddenly asking about short sales.  To serve these owners I asked RE/MAX leadership, "When are you going to schedule a short sale training for staff?"

But apparently business leaders had no clue of what was about to burst by 2007 and refused to offer training ... at first.  About six months later, they closed their Kissimmee doors without warning. 

That's about the time I began keeping statistics on Poinciana's housing demographics through the MidFlorida Regional Multiple Listing Service (MLS).  Today, after years of keeping track of Poinciana's MLS sales, inventory, and, now, foreclosures, I say with great relief that I've got good news.

We are at the beginning of a recovery!

New Year's Wishes

There is something to be said about the magic that is the holiday season in Central Florida.  Warm enough to wear shorts, golf or fish and still have the twinkling lights of the holidays gracing our palm trees, evergreens, and wide and shady Live Oaks.

For some, this season was the toughest ever financially, but we've encountered many filled with a spirit of optimism for 2009.  The promise of a fresh start, a new president, the call for civility in the face of bold new changes in our futures ... We promise to do better, try harder, and make ourselves as indispensable to you as the image of babies are to New Year's celebrations. 

 

With the warmest wishes this holiday season to all of our customers, Realtor® colleagues, community leaders and activists, and especially to all of our compassionate friends, without whom we would not achieve the the most gratifying part of honest real estate brokering: Our mutual success.

Bella Poinciana to Join Bellalago

If you've noticed activity at Poinciana's little elbow in the road, the one that turns Marigold Avenue into Poinciana Parkway, then imagine an upscale, mixed use, planned development named Bella Poinciana.  This more than 1,000-acre gem, located adjacent to Village 8, is the future home to what has apparently been already approved in Poinciana's Development of Regional Impact (DRI).  (Poinciana on DRI includes areas: 240, 241, 242, 243, 244, 245, 246, 247.) 

From its description, it appears the plan is similar to that of Bellalago, a gated community known for it exclusivity.  Bella Poinciana is set for up to 2,600 residences and 580,000 square feet of commercial space with 1,132 acres of wetland preserve.  Developers hope to see a buyer and completion of this project by 2010.

Destiny Before Poinciana?

In the midst of an excess-housing crisis, Osceola County appears to be moving forward with plans for an "eco-friendly development" to the east of Poinciana.  Leaders will name this community Destiny and claim that "it won't spread suburban sprawl."  The Reporter recently published an aerial of Florida's future Destiny, which looks suspiciously like another "self-contained" community, which developer Avatar said was designed as the location to Live - Work - Play.  According to planners, Destiny "makes sense as a way to diminish sprawl." 

An Improved Trend

So the markets around the world look pretty dismal and you've stopped watching TV.  Maybe started drinking or smoking again.  If you're looking for any good news in this market, come on down to Poinciana! 

Sales of existing Poinciana homes are now maintaining at an increase.  With four months straight of better-than-anything we saw last year in sales, homes are selling again. Could it be a trend? 

Osceola Oo-la-la

On November 15, the Osceola News Gazette kicked off a web site for the Hispanic community of Osceola County!  HolaOsceola.com offers Poinciana residents a meeting place for instantaneous distribution of information.  Anyone may register and post event information, business news, personal celebrations, school news, and free classified ads.  It was kicked off with tremendous local support including the following sponsors:

• Association of Poinciana Villages

• Poinciana Home Network. Email: Home@PoincianaHome.net. Direct: (407) 738-8042. PoincianaHome.net. Local foreclosures.  Real estate in Kissimmee.  Agent: Darhlene Zeanwick

Sentinel Calls on Expert

When the Orlando Sentinel was looking for an expert in Poinciana home sales, they turned to Darhlene Zeanwick, who explained the seriousness of the housing crisis in Poinciana to Sentinel reporters.  One of the most stunning statistics is the REO-driven economy in Central Florida, is the "38% of homes in Poinciana in some state of foreclosure or short sale." 

What this means to homeowners in Poinciana who are ready to sell their homes today is that they will have to "compete against the bank," or, more correctly, "many banks."  In this community of many churches and the nation's largest homeowner association the APV HOA,

APV Emails

Need to get in touch with the Association of Poinciana Villages (APV) high-tech-like? Here are the emails of some of their personnel.

• Jeanette Coughenour - jeanette@apvinc.net

• Valentin Ramos - vramos@apvinc.net

• Benny Gonzalez - csd1@apvinc.net

If you'd like to help make our APV HOA transparent, email us at Home@PoincianaHome.net with your concerns or information you'd like to share.

Loot for Thought

Many homeowners in the Poinciana area have been asking me why they have to pay Osceola and Polk taxes on high assessments when their home values and have dropped and their equities are gone.  The answer is, "You don't."

You can appeal your tax assessment.  In Poinciana, where home values continue to drop, if you win your appeal, you won't have to pay your county's over-inflated tax but one that would likely be more in line with your home's value.

In Osceola, appeals are handled through their Value Adjustment Board.  In Polk, they also have their own Value Adjustment Board.

As well, if the county does not re-evaluate your taxes, you may be able to present an argument that is gaining popularity among Florida voters.  It originated with a a letter to the editor of a publication produced by the the Florida Association of Realtors (FAR).

DC's Mad Men

How have you been feeling about what’s happening in DC lately with the Wall Street versus Main Street catastrophe in leadership?  Did you know that more than 38% of homes on the market in Poinciana, Florida, are in some state of foreclosure? If a bailout happens, it could mean significant improvements in the housing market here. Do you agree? Tell us what do you think.

Confidence Rising

Even as Obama, Biden, McCain, and Palin, each try to grab our attention for a brighter future, Florida's economists sound like they concur. According to University of Florida economists, happier days may be around the corner again. Consumer confidence among Floridians made huge gains in August, rising six points to 67 from its revised July index. This appears to suggest a turn in the midst of our international economic crisis.

Bottom Bouncing

A recent report by the Florida Association of Realtors® (FAR) agrees, we may have finally landed at the bottom of our housing crisis. Actually, bouncing is a more accurate description.

The market value for homes in Poinciana appears to be making some attempt to stabilize. Like skipping a stone in one of Poinciana’s many ponds, sales are bouncing between about 40 and 60 sales per month.

While some home values have declined, particularly in the Bellalago area, home sales have stayed steady in areas like Solivita and Crescent Lakes. Overall, property inventory has not increased much over the past year, staying below 1,200.

While sales have increased slightly, helping to keep home values from the downward spiral that the Poinciana area has been experiencing, the area’s absorption rate has been declining from a summer-time high of about five percent. Absorption rate for Osceola County stood at 3.98%, which reflects a one percent decrease in sales since late July. A total of 314 homes have been sold in Poinciana so far in 2008.

Overall in Florida, FAR recently reported that sales for single-family existing home sales rose for the first time in more than two years. While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida's housing sector.  That's according to FAR.  We can't say that six extra sales makes a trend but agree with FAR's assessment that the bottom may be here.

Reporter on Poinciana

When Lakeland newspaper, The Reporter, needed a local expert to help them understand the extent of the housing crisis in Poinciana, they didn't have to google "Poinciana Home."  They already knew they could turn to Poinciana's expert, Darhlene Zeanwick. Darhlene relayed statistics from the multiple listing service, the Osceola County Association of Realtors, and information only a local expert could know. To read the article, see The Reporter. The Reporter is a news media business covers news in Central Florida's "four corners" area, which includes Orange, Lake, Osceola, and Polk counties.

#1 Forecloser Out!

For years, Countrywide has been the number one forecloser of properties in the Poinciana area, but that will end soon. The SECis now conducting a formal investigation againt Countrywide, according to a regulatory filing by Bank of America, which finalized its acquisition of Countrywide just in July 2008. Countrywide will soon be history as it continues to get pummelled by lawsuits from investors, consumers and state officials in Florida, among other states.

Crisis Deepens Slightly

Poinciana real estate continues to behave like a house of cards.  While price per square foot decreased once again, and list prices did not fall below last month’s low of $69,900, sales have decreased and inventory is once again on the rise. 

A total of 98 homes have been sold in Poinciana so far in 2008.  The least expensive of these sells today for $44 per square foot, a decrease of $4/SF from March 2008.

Inventory continues to rise in Poinciana while sales dipped slightly in April.   It is expected that May will show a new low for home values, as  sales continue to lag behind the now-increasing inventory in the area.

Realtor Appointed to IDA

Providing one more reason for you to choose Poinciana Home to sell your home, Darhlene was recently appointed to the Osceola County Industrial Development Authority (IDA), a citizen’s advisory board.  She will join other community leaders, such as James Kasper, Thomas Tompkins, Rajia Ackley, and Lawrence William, and will serve a two-year term with this group.  The IDA addresses finances for public projects that foster economic development in Osceola County.

Realtor Turns Green

As of yesterday, Darhlene Zeanwick became one of the only-3,100 Realtors in the entire U.S. with Green Leadership certification from the National Association of Realtors.  The research is voluminous.  Green really affects every aspect of life and lifestyle.  For example, do you have any idea how much carbon dioxide your home puts out into the air each year?

Try about 13,500 pounds for a 3,000-square-foot home.  Most of Poinciana's homes are not quite that large but still:  If you have a 1,000-square-foot home, that property is  putting out more or less 4,500 pounds of carbon dioxide every year and, let's see, each person lives how many years?

With the mug-me levels of heat in Florida, especially in August, it's not that unusual to hear of cooling bills as high as $400 in one month!  And we're not talking in-door marijuana grow houses either.  These are real people who apparently like it cold.  Frosty!

Values Drop, Sales Up

POINCIANA (PHN) | In February of 2008 there were 70,476 people who called Poinciana home and 18,893 homes. The least expensive of these sells today for $42 per square foot, a drop of $17 from January 2008. The least expensive single family home in Poinciana is listed with an asking price of $87,500.

Absorption rate for Osceola County stood at 2.2% in January, a drop of 0.6% from December 2007. From, January to February inventory numbers appear to be stablizing at slightly above the 1,000-home mark. Inventory of existing homes on March 1^st stood at 1,060.

While for most of 2007, homes sold at about one per day, since January 1^st the daily average dropped to one about one sale every two days. A total of 28 homes have been sold in Poinciana-proper so far in 2008.

Between excessive inventory and low sales, the market value for homes in Poinciana continues to decline but only slightly as compared to previous months. Conclusion: If a buyer is looking to move to the Central Florida area, now is the time to buy in Poinciana.

# # #

Numbers in this report reflect an area referred to as Poinciana-proper. These numbers do not include its communities, such as Solivita, Crescent Lakes, Cypress Woods, Bellalago, etc.

©Jan.2008, Darhlene E. Zeanwick. All rights reserved. Graph may not be duplicated or copied without permission.

Sales Since 2002

POINCIANA (PHN) | Our year starts with a chart of interest to Poinciana homeowners, showing sales of existing single family homes in Poinciana-proper.

Notes on Chart . . . 1. September 2004 fluctuation: Hurricanes hit through Central Florida for the first time in almost five decades bearing a direct inland blow on Poinciana. 2. June 2004 and April 2005 showed sales equal at 107 homes sold. Highest number of homes sold in one month was in June 2005 with a total of 129. The lowest number of homes sold was recently in November 2007 with a low of only 23 homes sold in a one-month period.

©Jan.2008, Darhlene E. Zeanwick. All rights reserved. Data was compiled from the MidFlorida Multiple Listing Service. This graph may not be duplicated or copied without permission.

The Poinciana Crane™ local blog. La Caballera de Poinciana™ blog en español. Poinciana @ Home™ Realtor.^®

Who Skipped Work?

Poinciana residents met in late October, standing-room only, in their newest "community update," Liberty High School.  A site to behold in the PUD development designed as the location to "Live - Work - Play."  At least that's how Tony Iorio, vice president of land development for Avatar, put it the night of the Update.  While much was covered, one important piece of the community development puzzle appeared missing: Work.

Iorio, one of a panel of speakers at the Update, ran down a list of projects, including the Reedy Creek I-4 connection project and a large number of retail developments that'll be touching all corners of Poinciana.  As he went down his list, it was hard not to notice the number of restaurants being planned, particularly, as Iorio joked "another Chinese" one.  But then he was speaking to an audience that had just heard it'd be getting community amenities that had been postponed for years.  The importance of another Chinese restaurant paled.  The joke continued through most of the meeting until an audience member posed a question regarding the excess of retail establishments planned.  "What about work?  Professional work?  Well-paying work?"

Iorio begged through the answer, clearly noticing that missing from Poinciana's 2007 Community Update was anyone from the economic development departments of either of Poinciana's counties.  Someone, perhaps, like Maria Grulich of Osceola.  Oh, well.  Maybe next year.

Also see: the Ledger/Reporter & the Orlando Sentinel.