Residences at Turnbull Bay

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T u r n b u l l B ay

Thank you very much

for your enquiry!

Here is the full brochure and we hope you enjoy reading it. W

e have also emailed this and other useful links to your email account.

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Overview...page 3 Area/Location ...page 6 Resort/Community Information ...page 9 Property/Financial Information...page 10 Gallery ...page 17 Next Steps ...page 20

T a B l e o f C o n T e n T s

I would like to thank everybody at Torcana that helped me with my first property

purchase. Everything was clear and the process was easy to follow. I would refer

them to my contacts and look forward to do more business with them in the future.

Thanks again guys!

s T y v e f R o m n e w y o R k

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Across the USA and especially in Florida, the combination of a surge in sales, rising prices and plummeting inventory levels have made finding our trademark high quality properties at competitive prices more difficult than ever.

We truly believe we have found something very special in Residences at Turnbull Bay, a pristine community built on a signature golf course near one of Florida´s most popular coastal destinations.

Residences at Turnbull Bay is located in beautiful New Smyrna Beach on Florida´s central Atlantic coast, just an hour from Orlando and 20 minutes south of the world famous Daytona Beach.

Every property within this community is impeccably designed and finished to the highest standard and Torcana are proud to promote a small selection of two and three bedroom town homes

available to purchase from $129,900 to $134,900. In addition to spacious porches with golf course views, these huge homes have 2,000 to 2,500 square feet of space including a 2 car garage. Anybody familiar with Florida real estate will know that sourcing quality homes on well

designed golf courses is like trying to find a hens tooth. They just simply aren´t available – this sub category was one of the least affected by the property downturn since 2006 and sales rebounded quickest in the subsequent recovery years.

With member concierge services, sparkling pool, cabana, fishing pier and professional golf club, this is a friendly neighborhood with a huge appeal to second home buyers, vacation home buyers and especially snowbirds and active retirees

e x e C u T i v e s u m m a R y

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o u R T a R g e T a u d i e n C e

Unlike many of our recent promotions which were aimed squarely at investors, we have sourced Residences at Turnbull Bay specifically for second home owners, vacation home owners, active retirees and snowbirds (people who fly south for the winter).

If you fall into one of these categories, and especially the latter two, then purchasing a home within this community could make a huge difference to your life. At $55-60 per square foot, these are luxurious properties at a phenomenal price which are much better value than similar new build homes on the open market.

While the majority of the 88 properties in this community are reserved for personal use, the option to rent them out on either short term or long term leases is also available.

For example, if you were planning to retire in 3 years time, then you may wish to rent it out on a long term contract in the meantime. Alternatively, if a family was planning to use their home in the summer months, they may wish to earn some extra income by renting it out short term during the peak winter season.

While we would stress that these should not be considered investments with a high rental yield (they are luxury homes on a golf course), properties could be rented long term for approx $1,100 per month and short term during peak season for up to $2,000 - $2,500 per month. Our local management partners will be very happy to assist if/when required.

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Residences at Turnbull Bay is a small, serene, community built on a beautiful golf course in Florida’s east coast. This is one of those rare places that feels like it´s in the middle of a nature reserve, and yet is close to everything – golf, fishing, swimming, restaurants, bars, airports, that a resident would want. The properties, of which there are less than 25 available, are just 6 years old.

These spacious homes have 2,000 - 2500 sq ft of space with large porches and 2 car

garages in a town home layout. Every home faces the golf course lakes, greens and fairways. The interior vaulted ceilings are spectacular with the kitchen, dining, and en suite master bedroom all on the ground floor and an upstairs mezzanine loft containing 2 bedrooms with walk in wardrobes and one en-suite bathroom.

Residences at Turnbull Bay is maintained by an association responsible for lawn care, pest control, painting, a clubhouse and a swimming pool. The monthly maintenance cost includes green fees so every owner is a member of the golf course! Additionally, all units are deeded town homes and therefore carry no community association risk.

These fantastic properties are exactly what active retirees & families are looking for in a second home. They are also financeable for American primary and second home buyers. There are less than 25 of them available so please get in touch ASAP if you are interested. Experience has taught us that these homes will be snapped up very quickly once news gets out that they are for sale.

d e v e l o p m e n T s u m m a R y

Home Home

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a R e a i n f o R m a T i o n

Why Invest in the USA?

The market crash in 2006-2007 resulted in the dramatic falls in property prices among many industrialised nations, but as the graphs below illustrate, prices in the USA have both fallen further and stabilised for longer than other major nations.

According to The Economist, the ratio of house prices to rents is another indicator of a balanced market. Over the long term the average should be 100 and if a market is overpriced, the ratio will be very high.

As you can see from the top graph opposite, there are ratios ranging from 130-150 in the UK, China and Spain (overpriced) compared to 84 in the USA (underpriced). Not only is the USA the only major economy to have recovered to its long term average, a ratio of 84 actually represents historically good value.

In a further sign that USA property market conditions are improving, foreclosures nationally fell by a whopping 24% year-on-year, according to CoreLogic’s first national foreclosure report.

The figures reveal that there were 830,000 U.S. foreclosures nationwide in 2011 compared with 1.1 million in 2010.

 

 

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a R e a i n f o R m a T i o n

Why purchase in Florida?

Florida is the 4th most populous state in the country and has been the 3rd fastest growing population in the USA over the last 20 years.

No other location in the western hemisphere can match Florida´s unique combination of a strategic geographic position, strong knowledge base, state-of-the-art infrastructure, entrepreneurial spirit, and concentration of corporate, financial and tourist resources.

We´ve all heard of the “baby boomers”, the 76 million people who were born in the US between 1946-1964 who have had a huge impact on both culture and the economy during each phase of their lives. The majority of this incredible group of people will be retiring in the next 5-15 years and they are set to transform the vacation and retirement markets in the state of Florida.

This is a diverse, wealthy and resilient economy with a very safe and secure legal system that has been protecting both domestic and foreign buyers for decades. With burgeoning demand and real estate prices at historical lows there has never been a better opportunity to purchase in this market.

• Beautiful weather

• Low cost of living

• Lots of space

• No state income and no estate taxes

• Some of best medical facilities in the world

• Some of the best schools and universities in the world

Wave after wave of both young professionals and retiring baby boomers have been and will continue to relocate to Florida in their millions. The reasons are simple and very difficult to replicate:

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Residences at Turnbull Bay is located in New Smyrna Beach, just an hour north east of Orlando. New Smyrna Beach, located 20 minutes south of Daytona beach and 40 minutes north of Coco Beach, is probably the most popular beach retreat for native Orlando residents.

Residences at Turnbull Bay is a perfect combination of Florida´s world class natural beauty, golf, beaches and amenities.

l o C a T i o n

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R e s o R T a m e n i T i e s

Residences at Turnbull Bay is a small, serene and luxurious community. With member concierge services, sparkling pool, cabana, fishing pier and professional golf club, this is a resort with a huge appeal.

• Master-planned Community with Architectural Controls

• Turnbull Bay Golf Club - an 18-hole Gary Wintz Signature Golf Course • Nature Trail

• Swimming Pool and Cabana

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There are just 88 units in this community with a small selection of two and three bed town homes on offer at an incredible price range of $129,900 - $134,900. Please click here for a full availability list which is updated weekly.

p R i C e s & ava i l a B i l i T y

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p R o p e R T y i n f o R m a T i o n

Property Features • Tiled kitchen & baths • Marble bath countertops

• Raised panel cabinets in kitchen & bath • Dramatic cathedral or 9’ and 10’ ceilings • Screened porches

• Six-panel interior doors • Pre-wired for alarm system

• Cable modem available in every room • Double-car garage with remote

• Energy efficient appliances • Breakfast bar

• Large, convenient pantry

• Large master bedroom with private bath • Spacious walk-in closets

Residences at Turnbull Bay offers two and three bedroom townhomes with spacious designs ranging from 2,000 – 2,500 sq ft plus 2 car garages and large patios. Every residence is impeccably designed and luxuriously appointed.

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f l o o R p l a n s

Aster

Purchase Price $129,900

Bedrooms / Bathrooms 2 bed / 2 bath

Size (heated sq. ft.) 1467 sq ft

Two car garage 500 sq ft

Estimated Annual Running Costs

Real Estate Taxes $2,400

HOA Fees $4,125

Home Insurance $600

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f l o o R p l a n s

Spartina

Purchase Price $129,900

Bedrooms / Bathrooms 2 bed / 2 bath

Size (heated sq. ft.) 1450 sq ft

Two car garage 500 sq ft

Estimated Annual Running Costs

Real Estate Taxes $2,400

HOA Fees $4,125

Home Insurance $600

Total Annual Running Costs $7,125

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Lantana

Purchase Price $134,900

Bedrooms / Bathrooms 3 bed / 2.5 bath

Size (heated sq. ft.) 1806 sq ft

Two car garage 500 sq ft

Estimated Annual Running Costs

Real Estate Taxes $2,525

HOA Fees $4,125

Home Insurance $600

Total Annual Running Costs $7,250

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Palmetto

Purchase Price $134,900

Bedrooms / Bathrooms 3 bed / 2.5 bath

Size (heated sq. ft.) 1911 sq ft

Two car garage 500 sq ft

Estimated Annual Running Costs

Real Estate Taxes $2,400

HOA Fees $4,125

Home Insurance $600

Total Annual Running Costs $7,125

f l o o R p l a n s

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Trumpet

Purchase Price $134,900

Bedrooms / Bathrooms 3 bed / 2.5 bath

Size (heated sq. ft.) 1819 - 2006 sq ft

Two car garage 500 sq ft

Estimated Annual Running Costs

Real Estate Taxes $2,400

HOA Fees $4,125

Home Insurance $600

Total Annual Running Costs $7,125

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R e s o R T p i C T u R e s

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s T a n d a R d R u n n i n g C o s T s

Home Ownership Association (HOA)

Each community has a Home Owners Association who is responsible for looking after the community as a whole – i.e. common areas and facilities from the swimming pool down to the security gate and rubbish collection. They are also responsible for the structures of the buildings within the community and insuring all common areas.

Real Estate Taxes

This is a tax levied on every single building in the United States and is similar in some respects to the Council Tax in Britain. Property taxes are calculated by the County Tax Appraiser and are based on local services, amenities and average property values within the vicinity. In October each year an estimate of the current years’ property taxes is published and you can view this estimate on the County Tax Appraisers website.

Insurance

The usage of the property determines the type of insurance required. If it’s a long term rental investment, minimum contents cover is required. If it is short term and your contract is with a management company, an insurance aspect will be built into their management fees.

Closing Costs

You should budget approximately $2000 to cover legal, title and agency fees. Please click here for the latest price & availability list.

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As any property owner will know, selecting and paying for the unit is only the first step to ensure that your asset is as profitable and trouble free as possible. For this reason, Torcana has built strong relations with companies and individuals who are well placed to assist buyers with a range of important sales and aftersales issues in the US real estate market.

Optional services that our partners can provide include: • Arranging property inspections

• Opening a local US bank account • Arranging insurance for your property • Currency transfer service

• Obtaining non-resident social security number(s)

• US notary services, required for the IRS and saving a trip to the US Embassy • Annual tax returns

For non US based buyers in particular, these services can offer peace of mind, avoid unnecessary penalties and save huge amounts of time, energy and money.

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• Check availability list with your account manager and select appropriate unit(s) • Once selected a $2,500 deposit should be wired to the title company and

confirmation of transfer supplied

• Closing documents will be produced within 30 days

• Client must close and pay full purchase price (less deposit) within 30 days • Closing costs will depend on the unit but will range from $1,200 - $2,200

p u R C h a s e p R o C e d u R e

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If you wish to learn more about Residences at Turnbull Bay or indeed discuss any of our other US opportunities please call one of our highly experienced members of staff. We will talk you through the available options and discuss the market as a whole to ensure you are well informed to make the best purchase decisions.

Torcana Ltd USA: +1 321 806 1195 Ireland: +353 1 4433 991 UK: +44 207 193 4024 Skype: torcanaltd investments@torcana.com www.torcana.com

C o n T a C T

This document contains general information relating to the purchase of property and its contents should not be construed as legal or other professional advice. This is not an investment offering. While all reasonable care has been taken in the compilation and publication of this information, Torcana Ltd make no representations or warranties, whether expressed or implied, as to its accuracy or completeness and the content is provided for information purposes only. Any rents listed are current and are based on the existing lease information provided by third parties. Torcana does not oblige any buyer to use existing property management services and recognizes their right to rent his or her property independently. Furthermore, Torcana Ltd shall not be liable, directly or indirectly, to the user or any other third party for any damage resulting from the use of the information contained or implied in this document. Buyers should always seek appropriate legal, tax & financial advice from suitably qualified professionals before taking, or refraining from taking, any action.

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