Orlando Luxury Real Estate

Million Dollar Florida Homes Bankrupting Builders

Chris Myers — Fri, 07 Aug 2009 21:45:25 +0000

An advertisement for million-dollar homes in Baldwin Park shows a woman soaking in a tub under the caption: “Not as rich as you used to be? Luckily, the good life has never been more affordable.”

Custom builders, stuck with luxurious homes they have been unable to sell in the humbled real-estate market, now appear to be the ones taking a bath.

Some are trying to unload masterpiece homes at half the price they had been asking in 2007. Others are faced with having to wait for buyers for the first time in more than a decade. And still others warn that this may be the end of the speculative, high-end-home market in Orlando.

Many builders have found that although they built homes at the high end of the market, they are going to have to sell at the low end.

One builder discussed some of the amenities they include with each home. Inside these houses, a curved, wooden door leads to a study resplendent with leather floors, leather inlays in the coffered ceiling, and a globe of the world centered in the chandelier. Travertine tile lines the concave ceiling of one of the two rooms in the wine cellar. A bank of custom cabinetry frames stainless appliances — and that’s in the master bedroom.

When completed the 6,600-square-foot home on the main drag of Orlando’s Baldwin Park in 2006, builders had expected it to sell within two or three months, based on demand at the time. Now, years later, Casa Teresa is a blue-light special, with its original $4 million price tag slashed in half.

About 650 homes in the $1.2 million-to- $4 million price range are for sale in the Orlando area. On average, they have been on the market a year and counting, according to records kept by the Orlando Regional Realtor Association. Sales in the million-dollar-and-up category have fallen like water from a zero-edge tub: In the first half of this year, 66 such homes sold. Three years ago, 256 sold in that same time frame.

In Central Florida’s prime havens for infill custom homes — Winter Park, College Park and downtown Orlando — more than half of the high-end homes now on the market have been offered for sale since 2006, and the majority of those are still owned by builders, said Barbara Koenig, senior vice president of New Broad Street Cos. Many of these unsold infill houses, scattered throughout existing neighborhoods, now serve as model homes for the builders.

Entire collections of these empty monuments to upscale living populate Keene’s Pointe and Lake Butler Sound in the Windermere area, Windsong in Winter Park, Lake Nona in southeast Orlando, Emerson Pointe in the Bay Hill area, Alaqua Lakes and the Heathrow area in Seminole County, and Bella Collina in Montverde, according to Realtor.com.

Such exclusive communities usually require their chosen builders to construct some homes “on spec” — that is, without a confirmed buyer — so they’re available as walk-through marketing tools.

The glut of high-end homes, most of which are custom-built, is not unique to Orlando. Nationally, sales of homes priced at $750,000 or more have stalled, and the backlog has doubled from a 19-month supply in 2007 to a 41-month supply this year, according to the National Association of Realtors.

A number of forces converged against the luxury market starting two years ago: Home prices began dropping; potential buyers were unable to sell their current homes; and lenders began charging high interest rates on jumbo loans, the mortgage of choice for high-end houses.

Custom builder Rial Jones said that, for the past decade, all of the spec homes he built sold on completion — at least until now. The Tapestry mansion he completed last year in Lake Butler Sound — with two stone-carved lions, both of which are architectural antiques imported from Italy — still awaits a buyer.

Larry Fleming said he had several custom projects under way in Seminole County’s Veramonte development as late as last year. Now he’s stuck with at least one of the houses and is asking $1.4 million for the 5,800-square-foot home, which had been listed for $2 million. After lenders virtually stopped approving jumbo loans last September, Fleming said he felt fortunate to sell what had been a $3 million home, in Windsong, for $1.8 million.

Builders’ bills rise as homes sit

Every month that a custom home sits unsold can cost a builder as much as $10,000 or more in construction-loan interest, taxes, maintenance and other carrying charges. Many builders have been forced to ask for loan extensions from banks, but lenders are increasingly reluctant to extend loan terms, said Fred Tibbs, co-owner of Rex-Tibbs Construction, which has cut the price of one slow-selling Orlando home from $2 million to $1.5 million.

Sensitive to the now-watchful eyes of federal regulators, lenders have started turning down custom builders seeking loan extensions, according to members of the Master Custom Builders Council of Orlando.

“I’m hearing a lot of stories from members that the banks are becoming much more aggressive with them, just because the loans have been on the books for so long,” said Keith Fields, president of the local council.

No one has gone out of business, “but we’ve all gone back to our roots,” said Fields, whose company has shrunk from 12 employees to just him and his wife during the past two years.

“You literally could not build these houses for the price they are selling for,” he said.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

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Read Also: Foreclosure Sales: Real Estate Paradise

Read Also: The House Threatens Banks to Stop Foreclosures

Read Also: Real Estate Outlook Gives Buyers a Kick Start

If you want to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

We’re experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We’re always available to answer your questions.

Buyers Coming Back for Luxury Homes

Chris Myers — Thu, 06 Aug 2009 02:23:19 +0000

Ultra-luxury home sales are picking up, and some of the priciest homes are located in gold-standard beach-front locations

In the market for a house with a bowling alley, a private beach, and a marble swimming pool? How about a full acre of living space? You have more options than you think.

About 320 properties selling for more than $20 million are on the market across the U.S., according to a recent survey by Ultimate Homes. But in the year since the economic crisis began, sales of these ultra-pricey homes have all but stalled even as the bottom of the housing market is showing some life.

Of course, only a handful of $50 million-plus homes sell even in the best of times. The last major trophy home to sell was Donald Trump’s 60,000-square-foot Palm Beach mansion, which sold to Russian tycoon Dmitry Rybolovlev last summer for $95 million, one of the highest prices ever paid for a U.S. residential property.

“When Lehman Brothers disappeared and the whole economy fell apart in the fall, that put the breaks on luxury,” said Rick Goodwin, publisher of Unique Homes and Ultimate Homes magazines. “The downturn is so severe that it’s even making the well-to-do cautious. People worth $6 billion are suddenly worth $3 billion. It’s a significant jolt, losing half your net worth.”

Luxury realtors are hoping the dry spell is coming to an end. Last month, a 2006 Aspen mansion, including 10 bedrooms spread across 21,400 square feet, sold for $43 million. Earlier this year, pop star Madonna paid $32.5 million for a Georgian-style townhouse on the Upper East Side of Manhattan.

“I don’t want to say everything went dark, but they [the buyers] went quiet” last fall, said Joshua Saslove, the listing broker for the Aspen property. “Now, they’ve reappeared on the horizon.”

Not only are the number of trophy listings growing, but they’re still reaching extraordinary heights.

Topping Unique Homes’ ranking of the most expensive listings last month was the $150 million, 56,500-square-foot estate owned by television producer Aaron Spelling’s widow. In 2005, the top property on the list was $75 million, a price that would have placed it at the bottom of this year’s top 10, Goodwin said.

Best Beaches Fetch Top Dollar

Many of America’s priciest homes happen to be located in beautiful beach locations, in Long Island’s Hamptons or along the coasts of Maine, New Hampshire, Massachusetts, California, Florida, and Hawaii. BusinessWeek.com came up with a list of some of the most expensive beach homes on the market. Topping the list is Sandcastle, a $59.5 million estate in Bridgehampton completed this spring by builder Joseph Farrell, who lives in the house. Farrell is now renting out the 31,000-square-foot beach estate while he vacations with his family in Hawaii. An unnamed tenant, who is paying $425,000 to rent the house for two weeks, will have access to gorgeous ocean views, a two-lane bowling alley, a racket ball court, and an outdoor heated pool with an underwater stereo.

Farrell says he expects his home to sell for a good price, but acknowledged that the pool of luxury buyers has shrunk.

“I don’t think it’s ever going to be same; it’s a new world we live in,” Farrell said. “But if you have the best location and the best product, you can always find a buyer.”

Jonathan Miller, chief executive of real estate appraisal firm Miller Samuel, said sales in the Hamptons were down 43% in the second quarter compared with a year earlier, and the median price was off nearly 17% during the same period.

Vanity Pricing?

Sellers in this price range often have trophy properties that they’ve built for themselves or customized to their own tastes. They can afford to wait until the right buyer comes along, Goodwin said. The price tags might not be realistic, but can serve to attract press coverage and create a starting point for negotiations, he said.

Miller said some of the most expensive listings across the country simply aren’t in line with the slumping market. “A larger question to answer is how many of those properties are priced correctly and are not just vanity prices,” Miller said.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Read Also: Foreclosure Sales: Real Estate Paradise

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Closings Stopped from New Home Valuation Code

Chris Myers — Thu, 06 Aug 2009 02:11:33 +0000

   The new federal Home Valuation Code of Conduct is delaying financing approval, inaccurately valuing homes and employing inexperienced appraisers, some real estate leaders say.
   Two longtime appraisers also forecast more residential appraisers leaving the industry as a result of the changes.
   The decision to establish the code was made last year, when government-regulated mortgage giant Fannie Mae, along with the Federal Housing Finance Agency, decided to set up new appraisal policies to create more separation between appraisers and lenders.

   The regulations are slowing the process for potential homeowners to get financing with the process now taking about 30 days when before it took only a few days.
   The delay in approval gives an added advantage to some buyers.
   With residential inventory starting to fall for those properties in short supply, the buyer that doesn’t have to go through the mortgage process will have the advantage.
   While he hopes the new regulations can help exclude those who scam the system others in the market are paying a big price.

   It’s important for appraisals to be accurate and that the best way to do that is to work with local appraisers who know the market.
   Ashley Bosch, president of the Builders Association of South Florida, agrees on the importance of having not only an objective appraiser but one who understands the market and is familiar with the area to make a fair assessment.
   Mr. Bosch said the biggest problem builders are having with the appraisal process is that some appraisers are taking into account real estate owned (REOs) properties owned by a bank as a result of foreclosure and short sales as comparables.
   ”If that’s a distress sale, obviously it will be sold at a lower value than the market will accept because they [banks] need to get rid of it,” he said.
   A National Association of Home Builders survey shows that the problem is causing some signed sales contracts to fall through the cracks.
   About 60% of builders surveyed reported inadequate appraisals and labeled as the biggest issue the use of foreclosures and distressed sales as comparables for new single-family homes.
   In the survey, 54% reported appraised values coming in lower than the cost of building the home.
   ”If they are not taking into account the true cost of building the home, they are saying the home is not worth what it cost to build the home,” said Mr. Bosch, who is a local residential and commercial developer.
   Mr. Bosch said the builders association is calling on federal regulators to adopt concise guidelines that let appraisers assess values more fairly.

   Joni Herndon, chair of the Florida Real Estate Appraisal Board, said some management companies use rotational lists when sending appraisers to conduct valuations. That’s why real estate professionals are complaining about the inexperience of some appraisers, Ms. Herndon noted.
   Another factor, she said, is that since the companies keep a percentage of the appraisal fee, some seasoned appraisers are refusing to work for less pay.
   Ms. Herndon, an appraiser in Tampa, said she recently experienced an instance in which an Orlando appraiser went to Tampa to appraise a waterfront home and spent only 30 minutes there.
   The lender was notified of the appraiser’s lack of experience by the homeowner and asked her company to do the appraisal, Ms. Herndon said.
   Since the new rules were enacted, Ms. Herndon said she has lost professional relationships she had built over 20 years with some ethical mortgage brokers.
   ”It took me 20 years to develop relationships with people and now those relationships are broken,” she said. “Now, we are back to going to the lowest common denominator.”
   The changes are driving some appraisers to move away from mortgages, she said. They instead are working more with Realtors and doing more litigation and divorce estate work.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

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Tee Time Anybody? Hello….

Chris Myers — Sun, 24 May 2009 14:37:55 +0000

In central Florida sit Bella Collina, a sprawling development that was designed to hold 800 homes today though only 48 houses dot the landscape, and just three are occupied. The clubhouse, though open, is eerily quiet, and a promised swimming pool and equestrian center have yet to be built.

Bella Collina, the brainchild of Robert Edward Ginn III, looks like a ghost town. So does Tesoro, another resort opened by Mr. Ginn near Port St. Lucie, where just 150 houses sit on 900 lots. And the Conservatory in Palm Coast, also from Mr. Ginn, is even more barren: 335 out of 340 lots are empty.

Developers and home buyers believed that residential golf resorts were a sure-fire bet and many buyers looked to buy properties that they could flip for a quick profit. While there is no reliable data on the growth in residential golf resorts, analysts say the market is well past its peak — particularly in the Sun Belt — and there is now an overabundance of developments.

“The aggressive building of new resort courses continued from the mid-1990s into the 2000s, contributing to an increasing glut of inventory that finally found no market,” said Joe Beditz, chief executive of the National Golf Foundation, a trade group that tracks data on the golf industry.

Mr. Ginn, 60, was able to cash in on the boom despite a spotty record that included some well-publicized failures on Hilton Head Island, S.C., in the 1980s. But when the real estate market began to tank in 2007, his empire came undone. “As property values plummeted, many investors had property worth less than their loans, and they were unprepared to pay their club and association fees,” says Toby Tobin, a Florida real estate agent.

WCI Communities, which built resorts in Florida, Virginia and the Northeast, filed for bankruptcy in August. So did the Yellowstone Club in Big Sky, Mont., and three other resorts that. Even the venerable Greenbrier Resort in West Virginia has sought bankruptcy protection.

For Mr. Ginn, a man who could sell 400 lots in a single day during the height of the real estate boom, it has been a huge comedown. While other developers may have built more golf resorts, few did so as grandly or as extravagantly. The tab for the 116,000- square-foot clubhouse at Tesoro reached $48 million.

“Most developers used consultants,” recalled Dean Adler, co-founder of Lubert-Adler Partners, a private equity firm in Philadelphia that invested in Mr. Ginn’s projects. “Bobby had a feel. He could be handed a topography map at a site and sketch out the entire resort.”

“Bobby is very smooth and very likable,” said Hilton Wiener, a lawyer who bought an investment property at Tesoro. “He is a down-home guy who is not a pushy kind of salesperson.”

With a new resort was in the works, Mr. Ginn knew how to generate a buying frenzy by holding lavish parties where potential buyers greatly outnumbered available lots, say agents and investors who attended the events.

“You would come to one of Ginn’s sales weekends and you would be drinking and thinking, ‘I hope I get chosen as one of the select few who gets to buy a lot,’ ” Mr. Wiener recalled. “The setting is very lush: hand-rolled cigars, fancy parties, vans with the Ginn name plastered on them.”

The high times ended when the market turned two years ago. Sales stalled, and Mr. Ginn had trouble paying off loans. Two of his properties, Tesoro and Quail West in Naples, Fla., filed for bankruptcy in December 2008 and were later sold for a fraction of what he had put into them. He sold Laurelmor, a resort in North Carolina, to another developer for $32 million. Mr. Ginn’s network of companies still owns the facilities at Bella Collina and the Conservatory.

Mr. Ginn says his remaining properties will eventually pay off. “My belief is that when the depression ends, there will be a pent-up demand for happiness,” he said in an interview at his offices at the Hammock Beach Resort near Daytona Beach. “Sometime between 2035 or 2040, Florida will double in size.”

In the meantime, he faces dozens of lawsuits from angry investors alleging that his companies used deceptive and misleading trade practices in representing the demand for and value of his properties. “We will vigorously defend against these false allegations,” Mr. Ginn said.

In 1997, when Lubert-Adler started investing in his projects which gave him his big break. Over the next decade, the firm, pumped about $800 million into his properties. Their partnership was structured such that the private equity firm put up all the money and took 80 percent of the profits.

The timing of the relationship couldn’t have been better. “Their business really took off after Sept. 11, when people turned from financial investments to hard assets,” said Robert Gidel, a former president of the Ginn Companies.

Mr. Ginn’s development style was unusual: he didn’t build clubhouses or other services until a large number of lots were sold. “Typically, developers start with a hotel or amenities because skeptical buyers want to see things,” Mr. Gidel said. “But here the market was so strong, and people wanted to believe.”

Dan Gerner, who owned a home in Quail West, one of the few developed properties that Mr. Ginn bought, said Mr. Ginn’s lavish spending ornamented his operation with all the trappings of success. At Quail West, Mr. Gerner said, Mr. Ginn “spent $12 million remodeling the clubhouse, and when the members didn’t like it, he spent $4 million more changing it.”

Many buyers bought several properties and hoped to flip them for a profit.

Even Mr. Adler, the Lubert-Adler chief, was personally involved in at least one deal at Tesoro. According to property records, he bought a parcel in 2004 and quickly sold it for a $205,000 profit.

A partnership formed by Mr. Adler and Mr. Ginn, A & G, also bought and sold five properties at Bella Collina for a $2.5 million profit over a period of weeks.

Mr. Adler says that although he bought the single property at Tesoro in his own name, he had actually “made a loan to two individuals to purchase that property.” He said that they — not he — kept the profits from the transaction and that they repaid him with interest.

As for the five properties purchased by A & G, Mr. Adler said the situation was “rectified.”

“I transferred my investment back to Mr. Ginn and never participated or received a penny of profit,” he said. Mr. Ginn confirmed Mr. Adler’s account.

The A & G deals are cited in a class-action suit filed last week in federal district court in Florida, alleging a scheme to sell properties based on fraudulent appraisals. Although Mr. Adler and Mr. Ginn are cited in the case, their firms, and not they as individuals, are named as defendants. Mr. Adler said he was no longer a partner in A & G when the transactions took place and denied any wrongdoing. Mr. Ginn said he had not seen the suit but also denied allegations of wrongdoing.

But the next year, the real estate market began to enter a free fall, and by 2008 the partnership couldn’t make payments on the Credit Suisse loan. Tesoro and Quail West filed for bankruptcy, and Laurelmor was sold. “There were no buyers and no market,” Mr. Tobin said.

Mr. Ginn says he now faces about 30 lawsuits.

According to one filed in a Florida circuit court, buyers were required to turn over their power of attorney to Richard T. Davis, a partner in a law firm that represented several Ginn companies, in order to buy land in Tesoro. The suit alleges that Mr. Davis signed documents that never provided detailed disclosures about costs, as the government requires. Since Mr. Davis was the companies’ closing agent, the suit contends, he knew that the disclosures were incomplete.

“I assure you that we tried to disclose everything that was out there,” Mr. Ginn said. Mr. Davis’s lawyer said the allegations were without merit.

The Florida suit also alleges that Mr. Ginn worked to artificially inflate the prices of parcels in his development. In one case, according to the lawsuit, a buyer bought two properties for a total of $1.007 million, and Mr. Ginn’s title company recorded the respective sale prices as $1.007 million and $1. The company then used the larger price as a “comparable” figure in an appraisal for Roy Bridges, a British financial adviser who bought a property for $1.195 million, according to appraisal records. Mr. Bridges’s property is now in foreclosure.

Mr. Ginn contends that “the county recorded it incorrectly.”

According to a transcript of a video obtained by a law firm representing property owners in the suit, a Ginn salesman told a group of potential buyers at Bella Collina that “Lot 5 sold for $2.1 million this morning.” But property records showed that the parcel sold for just $416,900, according to the lawsuit.

Mr. Ginn said he was “shocked because the salesman deviated from company practices.”

MR. GINN’S partnership with Lubert-Adler still has three properties left to develop and owns some land at existing resorts. “At this point, we have invested more than we have distributed back to investors,” Mr. Adler said. “We got hit by the economic tsunami, and we did not anticipate how tough it would be.”

Mr. Ginn says he is “ready to sell properties in trophy locations” when the market turns around.

“If you can’t sell,” he said, “you die.”

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

If you want to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

We’re experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We’re always available to answer your questions.

Orlando Parade of Homes for 2009

Chris Myers — Fri, 22 May 2009 20:26:56 +0000

This is the 56^th annual Parade of Homes in Orange, Osceola and Seminole Counties. Open to the public from May 3rd, 2009 through May 17th; noon till 6:00pm everyday except Saturdays will start at 10:00am. With median home prices finally affordable for every budget, this is an ideal time to tour through many custom built home, single-family home, town homes, condominiums and new communities with some focusing on green, energy efficient building. Every price range will be represented in this year’s Parade of Homes ranging from $100,000 to over $4,000,000.

Whether you are in the market for a new home or just looking to remodel your existing, builders and contractors have their work showcased for you to explorer different options. Saturday and Sunday, May 9th and 10th, 2009 from noon till 5:00pm, there will be homes open featuring remodeling and design specialties. View beautiful craftsmanship from the outside to the inside, featuring new elevation ideas, kitchen and bathroom remodels, landscaping, painting, cabinetry and countertops.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

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Could a Luxury Orlando Home be in your future?

Chris Myers — Sat, 03 Jan 2009 02:47:26 +0000

Time could be right to purchase an Orlando Luxury Home now!

If you currently do not own an Orlando home and were holding off buying a home because prices were out of your range, then you should take advantage of the declining market. In a Buyer’s market you have an opportunity to buy “right”. Delaying the purchase of an Orlando home in the hopes that the market will continue downward could be a mistake. Don’t be sitting on the sidelines in the hope that it will continue on the downward spiral – it might not.

Move up on the Orlando Property Ladder

By the same token, if you do own your Orlando home, and were thinking of moving up, it is also a good time to check the Real Estate market out. There are more factors for you to consider than the first-time buyer, but these factors are not all negative.

Equity – the more equity you have in your Orlando home the better the argument to putting it to work in a new home.
Price Differential – Even though your chances of getting top dollar in a Buyer’s market might be an unattainable challenge, remember that when you go to buy, you won’t be paying top dollar either. Do the math, you might like the results. For instance a lower priced Orlando home will likely get closer to market value than a more expensive Orlando Luxury home. For figuring purposes, say a $100,000 home ends up selling for $85,000. But a $200,000 home ends up selling for $175,000. If you’re the person selling the first home and buying the second, you have netted $10,000 between the two transactions.
Investment Property. This is the time to investigate Orlando rental property. There are many investors who have spread themselves too thin and are interested in divesting themselves of some of their Orlando rental property.
Vacation or Retirement Homes. If you are in a position to take advantage of purchasing an Orlando vacation home, now is the time. If you had thought of retiring to a location that has been severely impacted you have an opportunity at hand that might now be available in the future.

In any event, if you have considered buying a Luxury Orlando home, now is the time. Don’t sit on the sidelines and then in the future say “I should’ve”.

For information on great luxury homes in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Read Also: Orlando Florida Facts & Resources

If you are wanting to sell your Seminole County or Orlando area home in the next 6 to 12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.