Four Seasons will not be open until 2014

[Master Yoda]

Title says it all.

http://www.orlandosentinel.com/the-daily-disney/os-disney-four-seasons-20110629,0,5432729.story

 

[menamechris]

I really don't care what some Disney spokeswoman said, I do not think that Golden Oak is the booming success that Disney thought it would be...

 

[Ignohippo]

11 units (after being announced for more than six months) is not a resounding success. They'll be lucky to sell the 80 lots of the first phase in the next ten years (they expect to sell 445).

I hate, hate, hate the idea of Golden Oak on Disney property. Isn't that what Celebration was for? What a terrible use of a lot of prime land. At some point, Disney will run out of room for expansion and they've sold a nice chunk of land that they'll never be able to get back.

 

[Master Yoda]

I really don't care what some Disney spokeswoman said, I do not think that Golden Oak is the booming success that Disney thought it would be...

11 homes of Golden Oaks caliber being built at the same time, in a single location, in one of the hardest hit real estate markets in the country is a success. I can probably name half a dozen subdivisions ranging from track to luxury homes that do not have that much work going on right now.

 

[El Grupo]

Sounds like Four Seasons has had some financial difficulty in other markets over the last 2-3 years. The downturn in the economy has caused them to delay another project or two.

 

[marni1971]

I`ve heard it may be longer. A lot longer.

 

[Sassagoula]

I wouldn't be surprised if Four Seasons never opens.

11 units (after being announced for more than six months) is not a resounding success. They'll be lucky to sell the 80 lots of the first phase in the next ten years (they expect to sell 445).

I hate, hate, hate the idea of Golden Oak on Disney property. Isn't that what Celebration was for? What a terrible use of a lot of prime land. At some point, Disney will run out of room for expansion and they've sold a nice chunk of land that they'll never be able to get back.

I'm with you on this one. Golden Oaks is a short-sighted money grab.

 

[menamechris]

11 homes of Golden Oaks caliber being built at the same time, in a single location, in one of the hardest hit real estate markets in the country is a success. I can probably name half a dozen subdivisions ranging from track to luxury homes that do not have that much work going on right now.

I personally don't call that a success. We aren't talking about any luxury subdivision. We are talking about a luxury subdivision being orchestrated by Disney, at a location that is (theoretically) within the the WDW gates, and has received international attention. Our real estate condition in Central Florida really is not a factor in whether a millionaire in New York or halfway around the world is interested in an investment like this...

 

[Jakester]

The Residental Idea doesnt seem that good at all. The money should be spent in the parks

 

[Master Yoda]

I personally don't call that a success. We aren't talking about any luxury subdivision. We are talking about a luxury subdivision being orchestrated by Disney, at a location that is (theoretically) within the the WDW gates, and has received international attention. Our real estate condition in Central Florida really is not a factor in whether a millionaire in New York or halfway around the world is interested in an investment like this...

You can personally call it what ever you want but right now there is very little building, including luxury homes, going on in Florida right now. I use to have a near 6 month back log of 10000 + square foot single family homes on my desk. I am lucky to see 6 a year now. There are simply too many homes on the market and property values are still falling, especially in the Orlando area. Why spend 3 million on a house today when you can wait 12 months and build it for 2.5. The Disney name got them them 11 multi-million dollar impulse buys. When the market stabilizes sales will increase.

 

[Master Yoda]

The Residental Idea doesnt seem that good at all. The money should be spent in the parks

Pleas elaborate how this development is taking money away from the parks?

 

[menamechris]

You can personally call it what ever you want but right now there is very little building, including luxury homes, going on in Florida right now. There are simply too many homes on the market and property values are still falling, especially in the Orlando area. Why spend 3 million on a house today when you can wait 12 months and build it for 2.5. The Disney name got them them 11 multi-million dollar impulse buys. When the market stabilizes sales will increase.

I hope you are right for their sake. But right now, everyone seems to be talking about "recovery" in the coming months and years, not falling deeper into a recession (subject to opinion of course). Regardless, it would seem Four Seasons may be seeing the writing on the wall and want to put their plans on hold, as well...

 

[Master Yoda]

I hope you are right for their sake. But right now, everyone seems to be talking about "recovery" in the coming months and years, not falling deeper into a recession (subject to opinion of course). If you are looking to buy, business folks are saying now is the time to buy. In 2007 when we were still in a bubble, I would have agreed with your statement, but that bubble has now burst.... Regardless, it would seem Four Seasons may be seeing the writing on the wall and want to put their plans on hold, as well...

For most of us it is time to buy, but with the amounts you are looking at in a place like Golden Oaks, it can make people a little gun shy. Loosing 5% on $250K property is considerably easy to swallow that loosing 5% on a 3 million dollar one.

From what I hear recovery in the real estate market has been pretty steady for most of the country but California, Nevada (in particular Las Vegas) and Florida are still falling. It is no longer in complete free fall but we still have a few more feet before we touch down. If they do not start moving lots at a decent after property values stop falling then it would be fair to call it a bust.

 

[menamechris]

For most of us it is time to buy, but with the amounts you are looking at in a place like Golden Oaks, it can make people a little gun shy. Loosing 5% on $250K property is considerably easy to swallow that loosing 5% on a 3 million dollar one.

I personally think the $10,000+ per year association fees, in addition to the thousands of dollars a year in ad valorem/property taxes are more likely a candidiate in making these people gun shy. And I don't think those fees include anything "extra" that Golden Oaks has advertised - i.e. concierge services, home decorating, etc. We can certainly agree to disagree. Time will certainly tell.

 

[Jimmy Thick]

Four Season's never got me interested.


Golden Oaks will be a smash success.


Jimmy Thick-Lurve that Golden Oak's website...

 

[devoy1701]

I personally think the $10,000+ per year association fees, in addition to the thousands of dollars a year in ad valorem/property taxes are more likely a candidiate in making these people gun shy. And I don't think those fees include anything "extra" that Golden Oaks has advertised - i.e. concierge services, home decorating, etc. We can certainly agree to disagree. Time will certainly tell.

that's nothing compared to taxes and fees of somewhere like Long Island!

 

[menamechris]

that's nothing compared to taxes and fees of somewhere like Long Island!

That may be true - but standand and cost of living play a great deal into that comparision. Not to mention, no matter how hard they try, Disney can not compete with the affluence of a place like Long Island...

 

[devoy1701]

That may be true - but standand and cost of living play a great deal into that comparision. Not to mention, no matter how hard they try, Disney can not compete with the affluence of a place like Long Island...

what...you mean the offerings in downtown Orlando are not on par with the likes of Manhattan????

 

[Jakester]

Pleas elaborate how this development is taking money away from the parks?

Not so much its being taken away from the parks, but i just cant foresee many people living in these homes (that ive heard will be like 1million - 6million), The money spent for this could of been spent for better things like repairing things in the parks or adding new experiences to them. Id like to see im wrong about the Golden Oaks being a failure.

 

[marni1971]

The money spent for this could of been spent for better things like repairing things in the parks or adding new experiences to them. Id like to see im wrong about the Golden Oaks being a failure.

The houses are not being built from parks budgets.