831 Camargo Way Unit 302, Altamonte Springs — Listed For Rent

Newly renovated condo at the resort-style Bona Vista community in west Altamonte. Condo has been freshly remodeled in 2023 with all new flooring, interior paint, kitchen cabinets, kitchen countertops, selected new appliances, new light fixtures & ceiling fans, new bathroom vanity & much more! A/C System was recently replaced & upgraded & also newer stainless steel kitchen appliances including, refrigerator, oven/range, microwave hood, & dishwasher. Inside utility closet with Washer/Dryer included. Bedroom has double closet. Condo is located on top floor with no above neighbors. Turn-key move-in ready for immediate move-in! Bona Vista is loaded with amenities including community pool, jacuzzi, fitness center, movie theater, clubhouse, playground, beach volleyball, racquetball court, car care center, & indoor basketball 1/2 court. Community is gated & has on-site community manager & management office. Buildings are Mediterranean-style architecture with Spanish-tiled roofing. Plenty of open parking. Bona Vista is conveniently located near west Altamonte’s major hub, intersection of SR-436 & SR-434, only walking distance from major retailers, schools, gyms, seat-in dining, fast food, department stores, bars/restaurants, pharmacy, & West Town Corners shopping mall. Other area attractions include Seminole State College, Altamonte Mall, Cranes Roost Park, Lake Lotus Park, Sanlando Park, Merrill Park, Seminole-Wekiva Trail, Wekiva Island and several major retailers including Walmart, Target, Home Depot, Winn-Dixie, Publix & Costco. Major roads in the immediate area incl. 3 I-4 ramps/exits, SR-434, SR-436 & 414/Maitland Blvd (with quick access to SR-429 western beltway.) There is an HOA application fee of $100/adult and approval process that includes a full background check. Due to prior issues, no dogs are permitted. 12 months lease minimum. Please note, this unit does NOT have a balcony & there is NO elevator. Bona Vista is one of the most affordable properties in Altamonte Springs & routinely in high demand. Water/sewer utilities are INCLUDED. Condo is available for immediate move-in! 2-minutes Video Walk-through/”Virtual Tour” available.

One Bedroom/One Bathroom Condo

Newly renovated in 2023 – all new kitchen, flooring, paint, selected appliances, light fixtures, ceiling fans, cabinets, countertops, & bathroom vanity

Approx. 600 sqft.

Incl. all stainless steel kitchen appliances – Refrigerator, Dishwasher, Oven/Range, Microwave Hood

Double Closet in Bedroom

Washer/Dryer included

3rd Floor with no above neighbors

Horizon Blinds included

Community amenities include Clubhouse, Community Pool, Jacuzzi, Fitness Center, Basketball Court, Movie Theater, Playground, Beach Volleyball, Racquet Ball Court, & Car Care Center

On-site Association Management & Office

Gated Community

Water/Sewer Utilities are included in monthly rent

Note – Condo does not have a balcony & no elevator in the building.

Available for Immediate move-in

Condo Association Approval Required — $100/adult, non-refundable.

No dogs are permitted, due to previous issues.

Minimum 12-months lease.

Broker’s protected — $300 Lease Fee, but must show interior to prospective residents

Listing Broker is related to Owner.

Refundable Security Deposit of $1500.

Monthly Rent $1349

There’s a 2-minutes Virtual Tour available by request.

MLS ID: o6121483

Jason Crane Real Estate, LLC is a licensed real estate brokerage in Florida.

ORRA Reports Flattening Home Values Despite Resilient Demand in its June 2023 “State of the Market” Report

Data from the report is gathered from May 2023 sales and provided by the Orlando Regional Realtor® Association. Central Florida home values remain flat year-over-year from May 2022 to May 2023 despite strong surge in demand going into mid-year. Median home value of $378,000 for Central Florida is roughly equal with a slight decline of 0.5% year-over-year down from $379,950.

Demand has been resilience in the face of rising interest rates with the median home value up $28,000 since January 2023. Overall, year-over-year inventory is rising, up 33.7% accompanied with increases of 114% in avg. days-on-market & 67.5% increase in months supply of inventory.

Average mortgage rate of 6.62% for May is more than double that of 2.97% just 2 years ago. On June 14, 2023, Federal Reserve Chairman Powell indicated possibly 2 more Fed rate hikes going into the 2nd half of 2023, despite annual inflation in May decelerating to 4%, well off its June 2022 annualized high of 9.1%. The Federal Reserve has made clear its target goal annual inflation rate is 2%. Further rises in interest rates will certainly curb future housing demand as cost of borrowing & declining affordability are key components of the overall market. However, it’s possible the housing market could remain resilient due to lack of overall supply. Homeowners locked-in at 15-year & 30-year fixed mortgage rates prior to 2022 are disincentivized to sell because they don’t want to trade in their current 3% mortgage rate (for example) for a new 6.6% mortgage rate (May’s avg. mortgage rate) on a new purchase.

For May 2023, months-supply of inventory was recorded at 1.63 months, which is still well below the 6 months experts consider a “balanced market.” Essentially, the current housing market is still considered “out of balance” with demand far out-running supply.

Full June 2023 State of the Market is available here >