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Orlando, FL Real Estate News

By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know.A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means, you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains:“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”Here...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008.The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed.Here’s the latest information stacked against the historical data to put your mind at ease.The Headlines Make the Increase Sound Dramatic – But It’s NotThe increase the media is calling attention to is a little bit misleading. That’s because it’s comparing the most recent numbers to a time when foreclosures were at historic lows. And that lopsided comparison is making it sound like a much bigger de...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights When it comes to the current housing market, there are some myths circling around right now. Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments.  Let’s connect so you have an expert to help separate fact from fiction in today’s housing market.  Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 641-1531Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or opinions contai...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Ever thought about living in the same house with your grandparents, parents, or other loved ones? You're not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let's check out why they think it’s a good idea to see if it might be a good fit for you, too.Why People Are Choosing Multi-Generational LivingAccording to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below): Two of the top reasons had to do with aging parents. 27% of buyers chose multi-generational homes so they could take care of their parents more easily. And 19% did it to spend more time with them. A lot of older adults want to age in place, and living in a home with loved o...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Palma Vista is located off of Hiawasee Rd in the Metro West section of the Orlando real estate market.  There has been 6 single family houses sold in 2007.  They sold for prices ranging from $350,000 to $1,000,000 and ranged in size from 2,602 square feet to 3,761.  They took an average of 109 days before they sold. There are presently 0 houses that are pending closing.  There are a total of 14 houses on the market.  They range in size from 2,595 square feet to 4,933 square feet with asking prices ranging from $369,000 to $1,290,000.  Of the 14 houses on the market, 4 of them are under $600,000.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that ...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Bardmoor is located off of Hiawasee Rd in the Metro West section of the Orlando real estate market.  There has been 4 single family houses sold in 2007.  They sold for prices ranging from $340,000 to $450,000 with an average of $400,000 and ranged in size from 1,856 square feet to 2,652 square feet.  They took an average of 123 days before they sold. There is presently 1 house that is pending closing.  It is 1,591 square feet and the asking price is $229,900.There are a total of 11 houses on the market.  They range in size from 1,388 square feet to 3,342 square feet with asking prices of $240,000 and $599,000.  Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses ar...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Pembrooke is located off of Hiawasee Rd in the Metro West section of the Orlando real estate market.  There has been 1 single family house sold in 2007.  It sold for $280,000 and was 2,171 square feet.  It took 218 days before it sold. There are presently 0 houses that are pending closing.  There are a total of 15 houses on the market.  They range in size from 1,581 square feet to 2,422 square feet with asking prices ranging from $230,000 and $410,000.  Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 15 years.  This is extremely for the Orlando real estate market.If any additional information is required either log onto http://w...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
Baby boomers, the generation born between 1946 and 1964, and who count more than 76 million, are getting near to retirement but are most definitely not ready for a retirement  home!  Whether they are selling their homes and heading to Florida or  remodeling to accommodate their retired lifestyle, boomers are making an impact on new housing trends.  Some features that Orlando builders and remodelers are seeing as they begin to  cater to the boomer generation include the following: Home Offices-  As life spans continue to increase, many are choosing to work past the age of 65.  However, they want home offices for flexibility. This can also eliminate the hassle of commuting while keeping them active and adding supplemental income. Tech/Media Centers-  The tech-savy boomer generation wants...
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LAKE MARY, Fla. - Stirling Sotheby's International Realty sees a big future in real estate auctions.  The results of the two Saturday events would rank as an acceptable quarter for many Florida real estate agencies: 57 condominium sales in Naples and New Smyrna Beach for a total of over $12.5 million.    "The absolute auction event is the most reliable way to determine market value," said Soderstrom.  "We have access to strong investor and second home markets in Canada, Europe and the U.K. through our affiliation with Sotheby's International Realty, a strong reputation among Florida home buyers and a powerful Internet portal that accommodates real-time bidding," Soderstrom said.  "We have been successful in generating widespread public awareness of our auction events, and once those obj...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
 Studies have shown that most buyers make a decision about a house within 15 seconds of walking in the door.  Many other buyers make a decision without ever getting out of their car.  The message here is that first impressions are very, very important when selling a home.  Home Staging Tips for the Outside of Your HomeThe feeling that people get about the house from the street is called "curb appeal" and there are many home staging tips  to improve it.  1) Eliminate any and all clutter. Trim back overgrown bushes, and generally do a thorough clean-up.2) A fresh coat of paint goes a long, long way to making a house look good. Be careful not to pick too strong of a color.  The idea is to appeal to the greatest number of buyers as possible.3) Fresh sod or landscaping can make a major diffe...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
 Do In-ground Pools Add Value To Real Estate in Florida?The answer may surprise you!For many, many years REALTORS have given the standard answer to their customers that in-ground pools add little value to real estate in Orlando Florida. I have even heard agents reason with their clients that many families do not want pools due to safety issues with small children. They reason that a large number of buyers do not want pools, therefore the value of a home with a pool is not increased. This is interesting logic, but false! In recent years my clients have been getting huge returns of up to and even more than 80% of the pools cost. Unfortunately most REALTORS do not know the value of an in-ground pool and are still relying on old data and false perceptions! This error is perpetuated because ...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Woodland Lakes Preserve is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 3 single family houses sold in the 4th quarter of 2007.  They sold for prices ranging from $279,860 to $331,342 with an average of $307,067 and ranged in size from 2,041 square feet to 2,734 square feet.  They took an average of 109 days before they sold. There is presently 1 house that is pending closing.  It is 2,039 square feet and the asking price is $279,000.There are a total of 20 houses on the market.  They range in size from 1,850 square feet to 2,822 square feet with asking prices ranging from $242,900 to $420,000.  Considering the amount of houses sold in the 4th quarter of 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a spe...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Stone Forest is located off of Alafaya Trail in the east Orlando real estate market.  There has been 8 single family houses sold in 2007.  They sold for prices ranging from $220,000 to $250,000 with an average of $235,750 and ranged in size from 1,312 square feet to 1,864 square feet.  They took an average of 112 days before they sold. There are presently 0 houses that are pending closing.There are a total of 14 houses on the market.  They range in size from 1,254 square feet and 2,243 square feet with asking prices ranging from $194,900 and $329,900.  Out of the 14 houses that are up for sale, 8 of them have asking prices of $235,000 or lower.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Andover Cay is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 2 single family houses sold in the 4th quarter of 2007.  They sold for $250,000 and $265,000 and they were 1,832 square feet and 1,973 square feet.  They took an average of 132 days before they sold. There are presently 4 houses that are pending closing.  The asking prices for these houses range from $210,000 to $279,500 and they range in size from 1,368 square feet to 2,530 square feet.There are a total of 14 houses on the market.  They range in size from 1,492 square feet and 2,585 square feet with asking prices ranging from $234,900 and $339,900.  Out of the 14 houses that are up for sale, 7 of them have asking prices of $265,000 or lower.Considering the amount of houses sold in the 4t...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Andover Lakes is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 3 single family houses sold in the 4th quarter of 2007.  They sold for prices ranging from $214,900 to $283,000 with an average of $237,967 and ranged in size from 1,487 square feet to 1,841 square feet.  They took an average of 93 days before they sold. There are presently 0 houses that are pending closing.There are a total of 44 houses on the market.  They range in size from 1,264 square feet and 2,710 square feet with asking prices ranging from $185,000 and $345,000.  Out of the 44 houses that are up for sale, 27 of them have asking prices of $250,000 or lower.Considering the amount of houses sold in the 4th quarter of 2007, the saturation rate, (the amount of time it will take to se...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
So you want to know what the real estate market looks like. Well the numbers are now available. Inventory increases as sellers who waited out the holidays place their homes on the market The multi-month decline in the number of homes available for purchase in the Orlando area reversed its trend in January, when 1,426 homes were added to the inventory. January historically sees an upward spike in inventory as a result of owners who hold out until after the holidays to put their homes on the market, explains the Orlando Regional Realtor Association. The median sales price of a single-family home in the Orlando area in January 2008 dropped in one month by 1.22 percent ($2,750), from $225,000 in December 2007 to $222,250. The median sales price for January 2008 is 11.06 percent below that o...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Young Pine is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 11 single family houses sold in 2007.  They sold for prices ranging from $203,000 and $284,900 with an average of $280,190 and ranged in size from 1,484 square feet to 2,386 square feet.  They took an average of 106 days before they sold. There are presently 0 houses that are pending closing.There are a total of 16 houses on the market.  They range in size from 1,484 square feet and 2,438 square feet with asking prices of $200,000 and $293,000.  Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 17 months.  This is below average with ...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Regal Park is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 4 single family houses sold in 2007.  They sold for prices ranging from $219,250 and $272,000 with an average of $242,788 and ranged in size from 1,764 square feet to 2,074 square feet.  They took an average of 84 days before they sold. There are presently 0 houses that are pending closing.There are a total of 3 houses on the market.  They range in size from 1,820 square feet and 2,895 square feet with asking prices of $270,000 and $364,999.  Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 9 months.  This is well below average with...
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By Dawn Pratt, East Orlando Real Estate
Avalon Park Home Sales for January 2008 AddressListing priceSold dateSold price14214 Manatee Springs Rd.$178,9001/30$170,5002160 Black Mangrove Dr.$200,0001/04$193,0002113 Florida Soapberry Blvd.$209,9001/14$216,49614039 Bradbury Rd.$255,0001/30$238,90014619 Tanja King Blvd.$269,9001/31$269,90014320 Southern Red Maple Dr.$299,0001/18$289,0002627 Silver River Trl.$439,9001/18$415,00013612 Cassiopeia Dr.$600,0001/31$550,000For more information concerning East Orlando Real Estate, please visit: www.YourOrlandoConsultant.com
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
River's Pointe is located off of Curry Ford Rd in the east Orlando real estate market.  There has been 8 single family houses sold in 2007.  They sold for prices ranging from $220,000 and $302,000 with an average of $265,188 and ranged in size from 1,543 square feet to 2,377 square feet.  They took an average of 59 days before they sold. There are presently 0 houses that are pending closing.There are a total of 2 houses on the market.  They are 1,436 square feet and 1,814 square feet with asking prices of $204,900 and $279,000.  Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 3 months.  This is well below average with the rest o...
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By Dawn Pratt, East Orlando Real Estate
Keller Williams Advantage II Realty sold more homes in 32828 than any other office in 2007. We are on track to being number one in sales this year, too! When you are ready to sell your East Orlando Home, contact me and let my team work for you! East Orlando Real Estate Agent
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By Judy Chapman
(Referral Network of Illinois LLC)
According to a report in Forbes magazine, the best town to get a bargain on a home is one with healthy job growth and more houses available than people to buy them. Forbes searched for markets where the damage from risky lending hasn’t been as dramatic as in some parts of the country and where employment growth will burn off an over-abundance of inventory quickly. Orlando stands out as the #3 metro area to buy a home in today’s climate for two compelling reasons. Unlike Miami and Tampa, Orlando attracted fewer investor speculators who artificially jacked up prices. Plus Orlando is a great place to not only get a job, but keep it. With 26,000 houses for sale in the greater Orlando area, buyers have an amazing advantage as soon as they walk in the door of their dream home. For other reaso...
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By Dawn Pratt, East Orlando Real Estate
*These statistics do not include homes located in Waterford Chase EAST* Homes between 1700 and 1999 square feet have sold for an average of $254,250.Homes between 2000 and 2999 square feet have sold for an average of $301,208.Homes between 3000 and 3600 square feet have sold for an average of $355,000For all your East Orlando Real Estate needs, please contact me - Dawn Pratt, and please visit my blog www.EastOrlandoLife.com to read news and events affecting East Orlando.
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
 The question beckons - How Low Can You Go?How much lower can this crazy Orlando Real Estate market go. Well, Here's my thoughts and one way to look at it.When a renter can pay only approx. 20-30% more in their rent payment and own a home, They'll Buy!OK, what does that mean?Right now a 3/2 home at $200,000 would cost approx. $1600 Principle Interest Taxes & Insurance (PITI). A 3/2 Home to rent in general is renting for $1200-$1300, meaning that when that average 3/2 home comes down to $200,000 that renter would rather buy instead of rent.Right now that 3/2 Home is costing approx. $240,000. That means that that average home still has to come down $40,000 or 16% for that average renter to BUY. OK, that's my opinion and we know what they're like!
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