Smith Lake is Rapidly Becoming the Premier Lakefront Property, Anticipated by So Many People for Years
In north western Alabama is a sleepy little area called Smith Lake. Largely undiscovered by the rest of the world, the lake has remained an almost forgotten paradise.
(PRWEB) May 17, 2006
"Smith Lake is now seeing tremendous growth", said Angela Treadway owner and co-developer at Emerald Valley Estates. A gorgeous new premiere Smith Lake lakefront development just released. "You cannot find better priced lakefront property anywhere in the country. You can buy one of our lots and build a lake house and still be under $500,000. As a developer I know what is happening on this lake. We are just now on the front end of the boom. Now is the time to invest anywhere on Smith Lake. These prices will not last." continued Treadway.
Additionally, Grandview Resort is another new lakefront development. Angela Treadway consulted on the initial setup, marketing, layout and design of this project and after the first two weeks building one is sold out! This new resort will be a gated community, with one hundred luxury condo units, outdoor water park, large balconies, private marina and a lakeside terrace. From the moment you drive through the gated entrance you will see the stunning views of the clear emerald green waters. "When coming to Grandview plan to relax, unwind and enjoy nature’s beauty" added Treadway.
Smith Lake is a manmade wonder with over 500 miles of shoreline covering more than 21,000 acres. It is one of the deepest lakes in America with water depths of over 200 feet and was recently named the 3rd cleanest Lake in America. It covers portions of three Alabama counties: Cullman, Walker, and Winston.
Smith Lake is an excellent fishing lake drawing fishermen from all over the southeast. Five World Fishing records have been established on Smith Lake and several champion fishing tournaments are held on the lake each year. One of the biggest drawing points about Smith Lake is its location. Located in north western Alabama, Smith Lake is less than 1 hour from Birmingham, Huntsville and Tupelo, 2½ hours from Nashville, 3 hours from Memphis and Atlanta and 1½ hours from Gadsden, Alabama.
Smith Lake is located in a tremendous growth corridor and is in a prime position to continue to experience exponential growth. Based on growth figures this region of the country is expected to grow by 15.8% into 2009.
Press Release Provided by: American Real Estate Design and Myrtle Beach Web Design
# # #
Press Contact: Bryan Pearl Company
Phone: 256-498-0320 Website:
More Information: http://www.prweb.com/releases/2006/5/prweb386868.htm
Wednesday, May 17, 2006
Thursday, May 11, 2006
New Condo-Hotel Owners Association Created
I was reading an article about investing in condo hotels and how profitable/unprofitable it might be. Here are some excerpts from the article and information on the new National Condo-Hotel Assn, called NACHO...
Bankrate.com
Do condo-hotels make good investments?
Thursday May 11, 6:00 am ET
Marilyn Bowden
Hoteliers in resort locations are offering guests a stake in the business by selling individual units as condominiums. Not only is this an opportunity to own a second home in some of the country's favorite playgrounds, promoters say, but owners can look forward to some income when the property's management rents the room out to guests.
Realtor Christian Charre, a senior vice president with Jones Lang LaSalle, markets hotels throughout the Americas and the Caribbean. He says, "Having a professional company renting the room for you the rest of the time, when it would otherwise be empty, can offset some of the expense -- and you still own a piece of the beach."
It sounds like a pretty good deal, but the facts show condo-hotel consumers would be wise to check the closet for financial skeletons before signing on the dotted line. The hotel business can be notoriously unstable -- and if that room doesn't rent out, the buyer won't see any of the income from it.
(Webmaster's note: The majority of the preconstruction condos for sale in Myrtle Beach have on-site rental management...often from older local families that have run the hotels for years before the condo conversion. I think that investment condos in Florida and Las Vegas are dramatically different than the ones we have here....and a big majority of that difference is in price. You can only charge so much for a hotel room...condo or not. Myrtle Beach condos prices are still well under a million dollars for most condo resorts. The prime areas in Florida and Las Vegas are well over a million...)
Where you'll find them
"Condo-hotels are usually upscale, full-service developments in the strongest hotel markets -- either popular vacation destinations or large cities where suburbanites frequent hotels for business or leisure purposes," says Tim Ford, vice president of operations at Lodging Econometrics, one of very few companies tracking the trend.
Some 43 condo-hotel projects containing 7,715 guest rooms are scheduled to open this year in the U.S., Ford says. Another 33 projects totaling 8,271 rooms will open in 2007. Of these, 70 percent will be built new, while 30 percent represent conversions of existing hotels. Nearly half are in Florida. (See Florida Condos Here)
Jerrold Krystoff, principal and CEO of Hospitality Development Group, says InterContinental Resort & Residences will manage Villas at Palazzo del Lago, a condo-hotel his company plans to build near Disney World in Orlando.
"If you look at the new hotel projects coming online," Krystoff says, "most of them are condo. The lenders like it." (Mortgage Companies )
In fact, says Charre, the driving force behind the trend is the preference bankers show to hotel developers who come to them with preconstruction contracts in hand.
"A condo-hotel is a financing mechanism to shift the risk to individual owners," he says.
For the would-be purchaser, one of the most frustrating aspects might be that the developer of a condo-hotel is prohibited by securities law from revealing the kinds of information buyers would most like to know -- such as how many nights they can expect the room to be rented out, what the forecast is on rental rates, and how a property's performance compares with others in its geographic area.
That's a dilemma the newly minted National Association of Condo-hotel Owners, or NACHO, hopes to resolve. The organization serves both buyers and sellers.
"Condo-hotels are in fact the best secondary vacation-home purchase available today," says Dante Alexander, NACHO president and CEO, and a former executive with Starwood Hotels & Resorts.
To help buyers make informed decisions, NACHO plans to publish "categorical ratings that can only be viewed by members," he says. Criteria include:
The National Association of Condo Hotel Owners provides buyers with unprecedented tools for making informed decisions in today's popular real estate segment, the Condo Hotel. Our proprietary Ratings System, our valuable Unit Economics Calculator, and our detailed, full disclosure Property Reports are just a few of the resources available to members that can make all the difference on your next transaction.
Bankrate.com
Do condo-hotels make good investments?
Thursday May 11, 6:00 am ET
Marilyn Bowden
Hoteliers in resort locations are offering guests a stake in the business by selling individual units as condominiums. Not only is this an opportunity to own a second home in some of the country's favorite playgrounds, promoters say, but owners can look forward to some income when the property's management rents the room out to guests.
Realtor Christian Charre, a senior vice president with Jones Lang LaSalle, markets hotels throughout the Americas and the Caribbean. He says, "Having a professional company renting the room for you the rest of the time, when it would otherwise be empty, can offset some of the expense -- and you still own a piece of the beach."
It sounds like a pretty good deal, but the facts show condo-hotel consumers would be wise to check the closet for financial skeletons before signing on the dotted line. The hotel business can be notoriously unstable -- and if that room doesn't rent out, the buyer won't see any of the income from it.
(Webmaster's note: The majority of the preconstruction condos for sale in Myrtle Beach have on-site rental management...often from older local families that have run the hotels for years before the condo conversion. I think that investment condos in Florida and Las Vegas are dramatically different than the ones we have here....and a big majority of that difference is in price. You can only charge so much for a hotel room...condo or not. Myrtle Beach condos prices are still well under a million dollars for most condo resorts. The prime areas in Florida and Las Vegas are well over a million...)
Where you'll find them
"Condo-hotels are usually upscale, full-service developments in the strongest hotel markets -- either popular vacation destinations or large cities where suburbanites frequent hotels for business or leisure purposes," says Tim Ford, vice president of operations at Lodging Econometrics, one of very few companies tracking the trend.
Some 43 condo-hotel projects containing 7,715 guest rooms are scheduled to open this year in the U.S., Ford says. Another 33 projects totaling 8,271 rooms will open in 2007. Of these, 70 percent will be built new, while 30 percent represent conversions of existing hotels. Nearly half are in Florida. (See Florida Condos Here)
Jerrold Krystoff, principal and CEO of Hospitality Development Group, says InterContinental Resort & Residences will manage Villas at Palazzo del Lago, a condo-hotel his company plans to build near Disney World in Orlando.
"If you look at the new hotel projects coming online," Krystoff says, "most of them are condo. The lenders like it." (Mortgage Companies )
In fact, says Charre, the driving force behind the trend is the preference bankers show to hotel developers who come to them with preconstruction contracts in hand.
"A condo-hotel is a financing mechanism to shift the risk to individual owners," he says.
For the would-be purchaser, one of the most frustrating aspects might be that the developer of a condo-hotel is prohibited by securities law from revealing the kinds of information buyers would most like to know -- such as how many nights they can expect the room to be rented out, what the forecast is on rental rates, and how a property's performance compares with others in its geographic area.
That's a dilemma the newly minted National Association of Condo-hotel Owners, or NACHO, hopes to resolve. The organization serves both buyers and sellers.
"Condo-hotels are in fact the best secondary vacation-home purchase available today," says Dante Alexander, NACHO president and CEO, and a former executive with Starwood Hotels & Resorts.
To help buyers make informed decisions, NACHO plans to publish "categorical ratings that can only be viewed by members," he says. Criteria include:
Complex and unit maintenance.
Ability of the development team to complete the project.
Likely profitability of the hotel.
The hotel's long-term competitive sustainability.
Unit economics -- what a buyer can expect to pay in insurance, taxes, homeowner association fees and other costs.
The National Association of Condo Hotel Owners provides buyers with unprecedented tools for making informed decisions in today's popular real estate segment, the Condo Hotel. Our proprietary Ratings System, our valuable Unit Economics Calculator, and our detailed, full disclosure Property Reports are just a few of the resources available to members that can make all the difference on your next transaction.
Tuesday, May 9, 2006
Florida Condo Conversion News
A new article from the South-Florida Sun Sentinel...
Landmark to become hotel-condo
Published May 8, 2006
Robin Friedman
Certain segments of South Florida's housing market may have slowed -- preconstruction condominiums and condo conversions, for example -- but the hotel-condominium craze lives on. Developers here continue to build new hotel-condominium projects as well as convert existing hotels. Now the Royal Palm Resort, an Art Deco landmark hotel on South Beach in Miami, is going hotel-condo.
The Falor Cos., a Chicago-based hospitality firm that is a major player in the repositioning and conversion of traditional hotels to hotel-condominiums, has joined forces with The Mitchell Cos., a Miami-based commercial property company, to convert the Royal Palm Resort.
The two firms, which purchased the resort from Peebles Atlantic Development Corp. in February 2005, plan to invest $17.5 million in the project above the purchase price of $127.5 million to renovate all of the 417 existing hotel rooms, the restaurant, bar and pool area and to add a spa and lounge, said Robert Falor, chief executive officer of The Falor Cos.
The resort is located at 1545 Collins Ave. in Miami Beach. It consists of three buildings ranging in height from three to 17 stories. Of the 417 existing rooms, 130 will be sold as hotel-condominium units ranging in size from 273 to 1,151 square feet. These will be priced from the $400,000s. Also there will be 35 poolside bungalows for sale. These will range from 451 to 466 square feet and will be priced from $600,000. The remaining 252 hotel rooms will be retained by the developer and used as traditional hotel rooms. MORE...
Landmark to become hotel-condo
Published May 8, 2006
Robin Friedman
Certain segments of South Florida's housing market may have slowed -- preconstruction condominiums and condo conversions, for example -- but the hotel-condominium craze lives on. Developers here continue to build new hotel-condominium projects as well as convert existing hotels. Now the Royal Palm Resort, an Art Deco landmark hotel on South Beach in Miami, is going hotel-condo.
The Falor Cos., a Chicago-based hospitality firm that is a major player in the repositioning and conversion of traditional hotels to hotel-condominiums, has joined forces with The Mitchell Cos., a Miami-based commercial property company, to convert the Royal Palm Resort.
The two firms, which purchased the resort from Peebles Atlantic Development Corp. in February 2005, plan to invest $17.5 million in the project above the purchase price of $127.5 million to renovate all of the 417 existing hotel rooms, the restaurant, bar and pool area and to add a spa and lounge, said Robert Falor, chief executive officer of The Falor Cos.
The resort is located at 1545 Collins Ave. in Miami Beach. It consists of three buildings ranging in height from three to 17 stories. Of the 417 existing rooms, 130 will be sold as hotel-condominium units ranging in size from 273 to 1,151 square feet. These will be priced from the $400,000s. Also there will be 35 poolside bungalows for sale. These will range from 451 to 466 square feet and will be priced from $600,000. The remaining 252 hotel rooms will be retained by the developer and used as traditional hotel rooms. MORE...
Subscribe to:
Comments (Atom)
