Greater Orlando Real Estate Blog
February’s Median Sales Price for homes sold was $223,000, up slightly from the January median sales price of $221,500. The average price, however, decreased to $276,200, down 14.4%% from January. The number of homes sold, however, increased from 813 homes sold in January to 932 homes sold in February. January’s volume of 813 was the [...]
The National Association of REALTORS, a.k.a. NAR, is predicting a flat market for existing home sales over the next few months, and then gentle relief to the housing market in the 2nd half of this year. Many buyers having been sitting on the fence, waiting for the “bottom of the market”. It’s time to move to [...]
Here’s an interesting article that was in today’s publication of the Orlando Business Journal:
More than 1,400 Orlando-area homes were added to the market in January, pushing the inventory to a nearly three-year supply, according to the Orlando Regional Realtor Association.
The association reports 25,724 homes are for sale in the Orlando area through the multiple listings service, [...]
Now is the BEST TIME for First Time Home Buyers to purchase a home in Florida within the last decade due to a combination of several factors:
Decrease in Home Prices
High Inventory Levels means lots of choices for buyers
High number of foreclosures
Higher Property Tax Exemptions
Low Interest rates
Here is some information for buyers with low or moderate [...]
This is big boost from the Federal Government to help our market. We’ve been seeing quite a difference in the rates between conforming and non-conforming “Jumbo” loans. This measure is another reason it’s a great time to buy!
House OKs Lift on Fannie, Freddie Loan Limits
The economic stimulus package hammered out between the White House and Congress on [...]
In December Congress passed sweeping legislation intended to help home sellers with foreclosures, short sales, deed in lieu of foreclosures, and loan modifications. Prior to this bill discharged debt had been considered ordinary income to the borrower for income tax purposes. Under certain circumstance (see below) taxpayers may now exclude this amount and the associated [...]
Today Foreclosures.com lists 8550 residential properties (1 – 4 units) that are in the pre-foreclosure stage in Orange County, Florida. As I wrote in my Jan. 16th post, this is a wonderful opportunity to get a great deal. Many incorrectly think that foreclosures mostly affect the entry level market, when in fact, they affect all [...]
There is a lot of hype about buying homes that have been foreclosed. This is the situation where the lender/bank has taken possession of the home by judicial order for non-payment of the loan. Although there is an opportunity to get a good deal, I recommend looking at property that is in the pre-foreclosure stage [...]