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Orlando, FL Real Estate News

By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you.In the housing market, there’s a longstanding relationship between mortgage rates and buyer demand. Typically, the higher rates are, you’ll see lower buyer demand. That’s because some people who want to move will be hesitant to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold.But when rates start to come down, things change. It goes from limited or weak demand to good or strong demand. That’s because a big portion of the buyers who sat on the sidelines when rates were higher are going to jump back in and make t...
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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 Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
There is a marketing campaign out there for a pretty well-know real estate company that plainly states that an agent's life IS real estate, plain and simple.  Pretty catchy sentence that they use and while I agree with it to a certain extent for many agents, I personally do NOT say that MY LIFE IS Real Estate.  What would be the point?  Rather, I would say that Real Estate is Real Estate and My Life is My Life and sometimes the two meet but, typically, at any one moment I'm all in to one or the other and not both.  Sometimes I cheat and will bring my SmartPhone with me to family things but most of the time I will leave a voicemail message about where I am and what I'm doing and, if a customer needs something real estate-related, what they can do to either contact me or my business partn...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Right now I am counting 1,176 closed sales for October with a median price of $179,250. Both of these numbers are down compared to September's 1,335 closed sales posting a median price of $182,000. Typically, we see a drop in September and a pick up in October. I am not sure if the fall bump came a month early, or it is just a function of our marketplace reacting to the seller paid downpayment assistance going away October 1st. I suspect the latter is the case. If my personal business is any indicator of the rest of the market, we are beginning to see things pick up even as sales dropped in October. Inventory levels remain high, but appear to continue coming down slowly. The number of distressed properties remains high with 6,246 homes in some stage of foreclosure. There continue to be ...
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By Dawn Pratt, East Orlando Real Estate
Dear Fellow Real Estate Agents, Listing agents need your help more than ever. We understand that you are showing many properties each day and that you are very busy. However, I am asking for your help… Please make time to leave feedback for properties you have shown your buyers. Many sellers are waiting on pins and needles to hear a response and are trying to do what it takes to get their homes sold. Please let us know what we can do to help reach our goal. Is the home overpriced compared to what is comparable in the area? Does the home need a thorough decluttering/cleaning? Does the home’s layout not suit the buyers’ needs? Are your buyers still considering a purchase of the home, but would like to see more before a decision is made? Anything at all is really appreciated! If you have s...
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By Bob Stewart, ActiveRain Ambassador
(ActiveRain)
Katerina first brought this up to me way back in January. She (and many others, but she was first) offered to help coordinate things so that it was certain we would have the opportunity to have an ActiveRain party gathering. In typical fashion, Jon and I dragged our feet on getting everything set up. Katerina was relentless (bless her heart) in making sure we got everything in order. She succeeded!! Katerina first let the cat out of the bag in her blog on Oct. 23rd. Only she didn't let the whole cat out....... We will be hosting an ActiveRain gathering. The gathering will be this Saturday, November 8th from 8pm-12am. Where you ask? We'll that's the tail of the cat still stuck in the bag. In true social media fashion, you are going to have to tune in and catch the word the day of the par...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
let's get back to business. There are people who have been waiting to see what happens with the election. I know, because you have told me so. While everyone has been waiting, some very interesting things have been happening. Prices have dropped significantly in our market here in Orlando. We topped out a couple of years ago with a median price around $260,000. Looking at the numbers for October, we are probably going to see a median sales price around $180,000. That represents just over a 30% price reduction in Orlando Real Estate. Interest rates have moved up and down like the stock market, but remain historically low in the 6-7% range. The inventory of homes for sale has remained high, but they are coming down little by little. Builders have just about stopped building. In fact a rec...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
This is a guide to a smattering of events occurring in the Orlando Central Florida area.  The sections are divided into Art, Music, Theater, Author, Etc, On-Going and Plan Ahead.  There is surely something for everyone.  ART CIRQUEMOSPHERE             What:             artistic troupe of performers, mime, juggling, balancing, etc.             When:            November 8 - 7:30 - 8:30pm             Where:          Eddie Rose Amphitheater                                Cranes Roost Park                                     Altamonte Springs             Cost:              Free             Contact:        407-571-8180   THEATER & FILM   ORLANDO FILM FESTIVAL             What:             screenings, panels, etc.             When:            November 5 - 9             Where:          various ...
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By Hunter Paschall
(Consulting Group INC/ Short Sale Negotiation Company)
Debbie and I visited the Vanderbilt Home "The Biltmore" as part of our vacation in North Carolina. It is a French Renaisance chateau near Asheville built by George Washington Vanderbilt 1888-1895. This is the largest privately owned home in the US with 175,000 square feet and 255 rooms. The Vanderbilt's descendants still own this home and today it stands as one of the most prominent examples of the Gilded Age. In 2007 it was ranked 8th on the list of America's Favorite Architecture by the American by the American Institute of Architects. Visitors from all over the world continue to marvel at the 70,000 gallon indoor swimming pool, bowling alley, turn-of-the-century exercise equipment, two-story library, and other rooms filled with artworks, furniture and 19th-century novelties such as e...
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By Robert Schott & Paula Hemani, Your Link to Real Estate
(TeamConnect Realty)
If you are thinking of selling your Dr Phillips home in the near future spending time up front will help immensely in the long run.  First off, remember your home is a marketable commodity. As a seller your number one goal is to get other buyers to see your home as their next home, not yours.  Simple repairs, depersonalize and landscaping can really give your home a heads up from the competition, many of which have been on the market over a year.Realtors feel that it is easier to sell a home that has been "depersonalized".  A depersonalized home will attract a larger percentage of buyers that can see them self living in the home, it's a numbers game.  Take down family photos, knick-knacks, and clutter and start packing all unused items into neatly placed boxes, remember you're moving.  ...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Here in Florida, we take voting very seriously. Let's face it, we have some recent history when it comes to choosing our President. I believe the 2000 election was decided by about 500 votes in Florida. We have heard all the jokes about pregnant chads, dangling chads and all the rest of chads friends. Our state can even be boiled down to the I-4 corridor. The southern part of the state tends to be more in favor of the Democratic party, and the northern part leans toward the Republican party. I-4 divides the state from Daytona to Tampa running right through my home town Orlando. To punctuate this point, my neighborhood Baldwin Park is home to both of Florida's US Senators. Mel Martinez (R) and Bill Nelson (D) live in Baldwin Park, Orlando. I have looked at the voter registration numbers ...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
With the end of the month being on Friday, we have a few days before all the sales are posted in the MLS. As of this morning, there are already 1,076 closed sales posted. The median sales price of the sales posted so far is $180,000 which is just $2000 less than September. We continue to show more than 3,500 pending contracts with 1,553 or 44% identified as distressed properties. Only about 24% of the active listings are listed at distressed (bank owned, in foreclosure or pre-foreclosure). Of the closed sales posted so far, nearly 38% are distressed properties. This continues to demonstrate a trend of distressed properties leading the sales increases and price declines. Last week, I closed a transaction on a Baldwin Park condo built by Centerline Homes for more than $330,000. I negotiat...
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By Hunter Paschall
(Consulting Group INC/ Short Sale Negotiation Company)
Tip from Hunter - You know the grass is too high when you cant see the sign! Are you a Realtor with little or no leads? Are you struggling in the current market? Working around the clock and not earning what you deserve? I can help you with that!
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By Stephanie Kresl
(Global Assist ~ Orlando Sales Division)
As a mother of four, it's important to teach my children that God calls us to serve others and follow the example that Christ gave us. One way to do this is by setting the example ourselves, but also by getting our children involved in the ministry of helping others. If you have older children, this may be easier, but finding opportunities for your younger pre-school and grade school children may be a bit more challenging. It doesn't have to be! If you are a Christian parent living in Southwest Orlando, or if you have recently moved to the area and you're looking for ways to help your community, then read on... For the last four years, the M.O.M.S., St. Rita Ministry and Family Focus ministries at Holy Family Catholic Church have been reaching out to our local domestic violence shelter...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
This is a guide to a smattering of events occurring in the Orlando Central Florida area.  The sections are divided into Art, Music, Theater, Author, Etc, On-Going and Plan Ahead.  There is surely something for everyone.    ART   PROVOCATIVE PAIRINGS             What:             art from different periods, media & point of view side by side             When:            September 20 - November 2             Where:          Orlando Museum of Art                                     http://www.omart.org                                     2416 N. Mills Ave.                                     Orlando             Cost:              Free             Contact:        407-588-1260   THEATER   CURTAINS UP             What:             auction and theater performances to benefit the Winter Park   ...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
I have to say, the condo in Baldwin Park that I have been blogging about for a while now, has turned out beautifully. My customers are closing on it tomorrow, and the home inspector Monday found just three very minor issues with unit. After the home inspection, we had the walk-through with the builder Centerline Homes and it took all of five minutes. It is rare in a new home that there are so few issues. I think most people expect a new home to be perfect, but keep in mind the number of systems, subcontractors, and details involved. That is why I always recommend having a home inspection of new homes. There are rarely serious problems with new homes because of the code inspections, but there are almost always minor issues that can be caught by the home inspector and many times corrected...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
I will preface this by saying that I am a Central Florida native. I attended the University of Central Florida in Orlando. My MBA is from Crummer Graduate School of Business at Rollins College right here in Winter Park. My wife was born in Orange Memorial now Orlando Health. So yes, I am biased when I speak about Orlando, but that does not change the facts. First, the weather here is fantastic. Today is October 28, 2008 and it is absolutely gorgeous outside. Blue skies, clear and sunny with a high around 66F. That is actually a little cool for us. I had customers here from Canada recently, and they could not get over the weather. Take everything else away, and we still have great weather. We also are 45 minutes from the ocean and 90 minutes from the gulf. Second, quality of life in Orla...
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By Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
Okay.  I am working with a Buyer (well, actually a few Buyers) that needs and qualifies for Down Payment Assistance with Orange County, FL.  The hoop that a Buyer with OC in FL needs to jump through, though, is that the PROPERTY must also qualify.  For a house in Orange County, FL to qualify for the program, it MUST have something APPRECIABLY improved or replaced within it within the last 12 months.  For example, it needs to have something NEW like a reshingled roof, updated electric, updated plumbing, or a new hot water heater.  You can't just use the funds (up to $35,000) for just any old house--it needs to be improved.  Why?  I have no idea.  But, for this particular Buyer to get $30,000 FREE from the county, it needs to have something updated or improved about it.  So, of course, no...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
I held off on publishing the official numbers until everything was ironed out. There were some issues with the median price, but that has been corrected. Here in Orlando, sales were up significantly over September of 2007. In fact sales were up nearly 38% compared to a year ago. The month over month sales increase was somewhat less at just over 4%, but that is because we had a pretty strong August too.  Sales were up across the state of Florida, and it was reported last week that sales nationally were up better than 5% compared with August. At the same time it was announced the new home construction fell to the about the pace it was at in 1945. Yes, I said 1945. This dramatic slowdown in building will eventually create the turnaround in the real estate market. I have not seen inventory ...
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By Brady Pevehouse, Your Orlando Real Estate Professional
(RE/MAX Downtown)
Date 08/30 09/13 09/20 09/27 10/4 10/11 10/26 Properties for sale in Eastwood Community 55 52 53 51 51 50 52 Foreclosure properties listed since last pos 0 0 2 0 1 0     1 New Non-Foreclosure listings since last post 2 6 1 0 1 1 3 What's sold in Eastwood since last post 2 2 1 2 1 1 2 Foreclosures in Eastwood since last post 0 0 0 0 0 0 0 Non-Foreclosures sold since last post 2 1 1 2 1 1 2 What's under contract 4 8 9 6 6 5 6 Foreclosures under contract in Eastwood   1 1 1 1 1 2 Non-Foreclosures pending in Eastwood   7 8 5 5 4 4 I did not post last week as you can tell due to the in-activity in the market. The the numbers you are seeing this week are for 2 weeks. So Eastwood actually had a total of 2 properties sell in 2 weeks. Not exactly a blockbuster time here, but pretty much par for...
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By Brady Pevehouse, Your Orlando Real Estate Professional
(RE/MAX Downtown)
Date 08/30, 09/13 09/20 09/27 10/4 10/11 10/26 Properties for sale in Avalon Park 404 395 400 398 397 396 401 Foreclosure properties listed since last post 7 9 3 6 3 5 9 New Non-Foreclosure listings since last post 11 11 11 13 9 8 16 What's sold in Avalon Park since last post 2 7 1 3 1 2 6 Foreclosures in Avalon Park since last post 1 1 0 0 0 0 2 Non-Foreclosures sold since last post 1 6 1 3 1 2 4 What's under contract 80 88 87 94 90 95 95 Foreclosures under contract in Avalon Park   45 47 48 47 54 52 Non-Foreclosures pending in Avalon Park   43 40 46 43 41 43 Avalon Park saw a little activity, or at least you would think, until you realize this post covers a 2 week time span. That being said, 2 foreclosures did actually make it to the closing table (see bold properties below), and one...
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By Brady Pevehouse, Your Orlando Real Estate Professional
(RE/MAX Downtown)
Date 08/30 09/13 09/20 09/27 10/4 10/11 10/26 Properties for sale in Waterford Lakes 196 195 190 196 190 193 188     Foreclosure properties listed since last post 2 7 1 4 1 3 1     New non foreclosure listings since last post 8 9 5 8 7 4 12 What's Sold in Waterford Lakes since last post 1 5 3 3 1 2 5     Foreclosures in Waterford Lakes since last post 0 3 0 2 1 0 1     Non-Foreclosures sold since last post 1 2 3 1 0 2 4 What's under contract 33 31 32 31 37 36 40     Foreclosures under contract in Waterford Lakes   12 13 11 15 17 18     Non-Foreclosures pending in Waterford Lakes   19 19 20 22 19 22  There still remains 71 foreclosure properties that are for sale  and 3 bank owned properties available in Waterford Lakes. Last week there were 77 foreclosures available, and my guess is th...
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