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 [...]
Home prices continue to decrease in Sanford, FL. In fact, since the market peak in 2006, the Median Price for single family homes has decreased 17% from $465,450 in 2006 to $385,000 for YTD, 2008. The < $200,000 price band of single family homes saw a similar impact with a price decrease of 35% from [...]
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 [...]
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 [...]
I came across an excellent web site today that offers a wide range of advice and solutions to common, and not so common, mortgage questions. They call themselves the “World’s Largest Mortgage Community” and can be found at http://www.mortgagefit.com/ .
Included is a very active forum where community members can post questions or comments, and one of [...]
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 [...]
We are fortunate to live in scenic Central Florida which offers fabulous lake and golf course frontage properties. I’m often asked how much as these special lots are worth when buying or selling real estate. To take a stab at this question, I analyzed 2007 MLS sales data (through 12/27/2007) for 3 popular luxury home [...]
Find out where you stand.The first step toward developing a better credit score is to determine where it currently stands. Start by checking with the three major credit reporting agencies (CRAs) listed below. You’re entitled to one free report per agency, per year, and have the right to dispute any mistakes, so request that each [...]