Florida Developer Announces Sellout of Award Winning Jacksonville Historic District Loft Project

in Florida Real Estate, Florida Real Estate Development, Florida Real Estate Development News, Jackonville Real Estate News, Jacksonville Real Estate, Press Releases

Florida real estate Developer Cranewoods Development announced that the remaining lofts in its award winning Riverside Historic District loft project in Jacksonville, The Chelse Lofts, were sold to a South Floida investment group. The Chelsea has won awards for historically compatable construction and design.

Jacksonville, FL (PRWEB) March 25, 2010 — Florida real estate developer Cranewoods Development announced the sellout of their award winning loft project, The Chelsea, in the Riverside Historic District of Jacksonville Florida.

The Chelsea was the first of its kind in the area, combining classic exterior architecture with cutting edge contemporary interiors. Located in a highly walkable neighborhood, with cutting edge urban loft details like wide open spaces, stained concrete floors, quartz countertops in contemporary kitchens and artistic details like glazed tile entry walls; The Chelsea Lofts only reveal themselves when inside the classic turn of the century Florida styled exterior. The project was the recipient of four design and construction awards including recognition for the best architecturally compatible new construction by the Jacksonville Historical Society.

“We felt the Jacksonville market really wanted an ultra contemporary urban loft option, and Riverside, with its convenience and walkability, was the perfect location,” said Andrew Howe of Cranewoods. “To sell out the lofts in these tough economic times, shows we were right.” Read more →


Cincinnati Real Estate Consultant Comments on Recent Listing in U.S. News report “Top 10 Cities for Real Estate Steals”

in Cincinnati Construction Management, Cincinnati Real Estate Development, Cincinnati Real Estate Development News, Cincinnati Real Estate News, Press Releases, Real Estate Consulting, Real Estate Development, Real Estate Market News

A recent article in US News and World Report ranking cities where there is potential for “real estate steals” prompted a discussion of the Cincinnati housing market and its prospects with Real Estate Development Consultant Andrew Howe of Cranewoods Development.

Cincinnati, OH (PRWEB) February 25, 2010 — Andrew Howe of Cranewoods Development gives local confirmation that Cincinnati is one of the “10 cities for real estate steals” as recently reported in U.S. News and World Report. Citing stable values during the recent boom and bust and a firm price to income level, Howe says, “Cincinnati real estate has always seemed to escape the dramatic boom bust cycles that devastate other parts of the country.” While the article predicts further price drops, it anticipates a bottoming in 2010 setting the stage for future appreciation.

 Howe, a Cincinnati real estate development consultant and a successful developer and general contractor for markets in Ohio and Florida for over thirty years, transformed his firm into a development consultancy using his expertise in development, construction and finance to assist lenders and development groups in resolving problem projects and loans. Cranewoods primarily serves the Greater Cincinnati area and Florida’s Eastern shore.

 Unlike Florida, Howe stated, “Cincinnati’s real estate stability moderates development profits in great years, but also limits the pain on the downside.” While Cincinnati has dodged the brunt of the crash, both lenders and developers have still been faced with stalled projects and loan defaults. The stabilization of the housing market has followed the same pattern as many other parts of the country, with the under 300k housing prices leading the market in sales. Although sales prices are at discounts to where they were in 2007-2008, the fact that there was an increase sales transactions during the second half of 2009 and 2010 is a positive sign for absorbing inventory, the first step in a market bottom and eventual recovery.

Howe points to downtown’s loft projects as a prime example. “Cincinnati’s loft condominiums in the under $300k range that are well designed and well located are starting to sell again,” Howe said, pointing to Hamilton County tax records showing a surge in downtown loft sales beginning in the 3rd quarter of 2009. “The real estate cycle will turn around as they all do. It’s a matter of survival while the market takes the necessary steps to recover.” Read more →


Prices to bottom, rates to raise but still a Buyer’s Market

in Cincinnati Real Estate Development, Cincinnati Real Estate Development News, Florida Real Estate Development, Florida Real Estate Development News, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Ohio Real Estate Development News, Real Estate Loans, Real Estate Market News

Real Estate is seeing historically low prices, especially in the luxury and near luxury market.  Prices are at or extremely near the lowest they will ever be but mortgage rates are beginning to rise and aren’t expected to return to the low rates we’ve seen over the last few years. Here is a very good article about what’s going on nationally in the real estate market that also addresses some regional variations. There are a number of good points for potential buyers and many that directly effect Florida buyers.
Read the whole thing but this is a very important point on the overall trend of the buyer’s market:

“You don’t need to have a sense of urgency, but understand that as time progresses the balance of power as we get into 2010 is going to slowly but surely shift away from [buyers],” Larson says. “It is not going to be a strong seller’s market, but it will be more evenly distributed as the year goes on.” Data from the real estate firm Zillow show that home buyers are already losing the leverage they once enjoyed.

Combine this information with the first-time and homeowner tax benefits that will be expiring in June, 2010 and you can see it’s still a buyers market but the window is closing.


Groups Investing in Real Estate

in Florida Real Estate, Florida Real Estate Development, Jacksonville Real Estate, Real Estate Loans, Real Estate Management

One of the developing trends in real estate is investing as a group in real estate.

Some of the best investments can be found in oceanfront homes, beachfront and oceanfront condominiums and contemporay lofts.

The advantages of investing in real estate as a group include:

  • Spreading the investment between several people to minimize cash outlay
  • Opportunity to use the property for vacations
  • Income potential for waterfront rentals
  • Immediate equity by purchasing property at a discount from the developer

Cranewoods” properties are perfect candidates for group investors. In addition to providing great values, unique projects and fantastic locations, Cranewoods can assist the groups in structuring their relationship through referral to attorneys and accountants that are familiar with that area of practice. The result is a painless method for group investing.


Condominium Association Advantages

in Florida Real Estate Development, Florida Real Estate Development News, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Real Estate Management

Whether you’re investing in an ocean front condo or set of multiplex condo units you’ll find many advantages in properties managed through a condo association.

A condo association can be a very valuable asset to both full-time and part-time owners, taking the pressure of building maintenance and upkeep off your shoulders, and turning it instead to the hands of a team of professionals.

Condominium rental properties and vacation homes can be managed in two ways. They may be owner managed where each tenant becomes responsible for reporting issues to the landlord, or professionally managed by a cooperative of owners associations.

A condo association management team can help enforce rules and guidelines to the entire community, increasing the chances of adhering to a specific set of standards.

You’ll enjoy several important benefits in working with a condo association to manage your condo property. The most significant benefit is the professional track record of most organizations in maintaining other properties in the area. This will help increase the value of your property with ease, giving potential tenants an attractive opportunity.

Residents at the property can count on consistent and professional service that they may not otherwise be able to coordinate on their own. For a flat monthly fee, they will become less dependent on using local services to keep up with maintenance issues. The condo association can also create a sense of community, setting the standard for local properties in and around the area. Enforcing and imposing fines makes it easy to regulate the property and tenants, and residents will need to worry less about theft, damages, and neighborhood safety. Read more →


Short Sale Pricing on Six St. Augustine Florida Waterfront Lots Pending Bank Foreclosure Announced By Cranewoods Realty

in Florida Real Estate, Florida Real Estate Development, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Press Releases

 6 pristine St Augustine Florida waterfront lots zoned multi-family are now available at short sale pricing dramatically below the outstanding bank loan. Working with the lender and developer, Cranewoods Realty has now listed these AAA located parcels at less than 25% of the actual cash invested in the lots due to a pending bank foreclosure. These are prime Florida waterfront lots with dramatic St Augustine Inlet views and within walking distance to the historic district.

St Augustine, FL (PRWEB) May 28, 2009 — Drastically reduced St. Augustine Florida Waterfront Lots are now available from Florida real estate developer  Cranewoods Development. The new Short Sale Pricing of $1.1 million for all six lots is $3.4 million less than the actual cash invested in the real estate due to a Pending Foreclosure. 

Permits, engineering and approvals are in place for this Florida development property, located in the private Davis Shores community and within walking distance to scenic Old St. Augustine, restaurants, deep-water marinas, shopping and more. This unique site offers fantastic long-range views of the Atlantic Ocean and is surrounded by the waters of Salt Run, the Matanzas River and St. Augustine Inlet. 

“This is a rare opportunity to gain entry into the St Augustine Florida waterfront market at a rock bottom price,” said Cranewoods Realty’s Kristin Fanning. “This property is particularly unusual because of the number of exit strategies it has without the need for rezoning. The lots can be sold off individually, or used as they are assembled”. The lots are zoned multi-family, which gives them an additional height allowance allowing three stories. Options for the property include single family homesites, duplex sites, townhome and condominium developments.  Read more →


Cranewoods Realty Announces Bank-Owned Ocean View Condos in Jacksonville Beach Released at Deep Discounts to Previous List Prices

in Florida Real Estate, Florida Real Estate Development, Florida Real Estate Development News, Jackonville Real Estate News, Jacksonville Real Estate, Press Releases, Real Estate Development, Real Estate Market News

Andrew Howe, president of Cranewoods Development announces the availability of bank owned condominiums in Jacksonville Beach, Florida. Bank Owned Condos offer great values for those looking for Florida Real Estate. Serena Point in Jacksovnille Beach, Florida offers ocean view condos that are now released below appraised values. These newly released Bank Owned Ocean View Condos are selling at more than a 20% discount to the original Sales Prices.

Jacksonville Beach, FL (PRWEB) May 26, 2009 — Discounts of nearly 20 percent from original sales prices are now available on newly released bank owned condominiums. Jacksonville Beach Florida real estate developer Cranewoods Realty announced the new pricing in tandem with its release of five of the new North Florida ocean view condos in Jacksonville Beach. The recently announced prices are below February 2008 appraised values. 

Located near the oceanfront at the northern end of Jacksonville Beach near the Neptune Beach city limit, Serena Point includes just 17 residences in a seven-story, architecturally distinctive community. Residents enjoy direct beach access and ocean views from every window. Serena Point amenities include a fitness center, gracious two-story lobby, garage parking under the building, bike storage room and climate-controlled storage units for each residence. Read more →


Florida Real Estate Broker Hosts Event Releasing Amelia Island Condos Below Builder Cost

in Florida Real Estate, Florida Real Estate Development, Florida Real Estate Development News, Florida Real Estate News, Jackonville Real Estate News, Jacksonville Real Estate, Press Releases

Florida Real Estate Broker Cranewoods Realty hosts special event Oct. 24 – 26 to release the existing phase of the Cape Sound condominiums, a unique Amelia Island condo project, with select units available at bank minimum pricing – below builder cost. Andrew Howe, pressident of Cranewoods Development, announced that the three day sales event starts with a Realtor preview on October 24th followed by two days open to the general public on October 25th and 26th.

Amelia Island, FL (PRWEB) October 23, 2008 — Cranewoods Realty’s announced a special event to release the latest phase of residences at Cape Sound, new Amelia Island condos. The event begins Friday, October 24, with a private preview for the Realtor community. On Saturday and Sunday, October 25 and 26, the public is invited to join the release party festivities. 

According to Suzanne Cash, on-site Realtor for Cape Sound, both the family-friendly event and the units’ low pricing are unprecedented. “This is an incredible opportunity to purchase an Amelia Island condo at close out pricing — below the builder’s cost and at bank minimums,” she said. 

In addition to the release of the latest phase of the community, which includes the property’s most desirable units on the lake, the project developer also announced that select residences in Cape Sound’s first two phases are available at new close-out prices below builder cost for buyers and investors seeking value in Amelia Island real estate.  Read more →