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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 Drew Peterson
(Keller Williams Advantage II Realty)
Each month, the Orlando Regional Realtor Association publishes its Market Pulse, a report containing essential market data. Here is our breakdown of the May edition (you can read the full report by clicking here): First, the bad news: 1.) Once again, overall inventory remained virtually unchanged. Prices will continue to decline as long as there are over 25,000 homes on the market and only 1,100 or so sell each month. 2.) We touched on this in the previous point, but the number of sales closed last month was 1,147. That's an increase of only 27 from March and a far cry from the almost 1,600 homes that sold last April. 3.) The number of expired and withdrawn listings decreased from March to April. This goes to overall inventory. As long as sellers continue to keep their homes on the mark...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Well, the official numbers are in as reported in the Orlando Sentinel this morning. You can link to the article "Orlando-area home sales see improvement". The numbers being reported are pretty consistent with those that I have been estimating in my recent Orlando Real Estate blogs. The number of sales at 1,147 is up compared to March's 1,080. It is not a huge improvement, but it is headed in the right direction. The 1,147 is only down 25% from last April. We have been seeing sales down 40+% compared to year ago numbers. At this pace we still have a 22 month supply of homes on the market, but the sales pace is improving. Watch this number start to come down as sales continue to increase and the inventory begins to get sold down a bit. The reason sales are picking up is two fold. First, a...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
We just received our numbers today for the Month of April and I am happy to report I think we have found a turn in the market. This doesnt mean prices are going to go up, but it's the start of a the road to recovery.                      Inventory      New Listings    New Constracts    Sales closed    Days on Market April 2007         24,435         5,832                 2,346               1,530                 97 April 2008         25,436         4,526                 2,012               1,147                 121 March 2008       25,472         4,398                  1,679               1,120                 128   Maybe it's just me but this seems positive for Orlandos Real Estate Market So ask yourself why havent you purchased a home yet? When the streets run red with blood, buy buy ...
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By Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
It's a simple rule:  Homes that the Seller makes the "Best in Class," or have ALL of the following:     1.  BEST price (It MUST be the best price in this market--Or just KEEP IT.)     2,  BEST-looking/Staged (It MUST be de-cluttered/staged/neat/clean/have upgrades if there is money for that...)     3.  BEST curb appeal (It MUST look good enough to take a look on the inside.)     4.  BEST/Most Clean (It MUST be clean at all costs.)     5.  easiest to show/BEST showing instructions (It MUST be able to be seen.  You can't have an offer until someone sees the inside of it.  Oh, I forgot--there are CRAZY people who just watched the latest infomoercial on how to cheat your way to a good steal in real estate who actually DO submit offers or letters of intent without even driving by the propert...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
I am wwwRealEstateOptimist.com, so obviously I look at the real estate glass as half full. I have to say, that there are a lot of good signs in our local market. I go back to September of 2007 when sales dropped below 1,000 for the first time. We bounced along the bottom until January this year when we had just over 800 closed sales. In February that climbed to over 900, March was over 1,000 and April numbers (probably reported on Monday) will show sales well over 1,100. Pendings sales in January stood at something like 1,500, but are over 3,100 as of this morning. The number of new contracts each month has increased as well. Prices have continued to come down, but prices lag sales. I expect prices will continue to come down for another few months before they stabilize. Because of the i...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
ROCK WALK.... WHAT: Thirty artists make up this multifaceted, mixed-media show of photography, installations, paintings, drawings, mixed-media works, poster and graphic design, live screenprinting and live performance art -- and each artist's body of work is in some way directly connected to or inspired by music. Three artists hail from New York City, including a guerrilla public artist who pastes photo montages all over NYC and JK5, an internationally renowned tattoo artist, graphic designer and toy and apparel designer for toy company Kidrobot. Also exhibiting is Orlando's own Jim Carchidi, a former Sentinel concert photographer. His photo of Cori Yarckin is pictured. WHERE: CityArts Factory, Orange Avenue and Pine Street, downtown Orlando. WHEN: The exhibit opens Thursday at 6 p.m. a...
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By Carey Light, Light Team of Wemert Group Realty
(Wemert Group Realty)
I was so excited to hear that my broker and team leader, Lori Tyrrell, has purchased both the Vista Lakes and Casselberry Keller Williams offices.  For two years, I have travelled to the existing Oviedo and Waterford Lakes offices benefitting from the excellent systems, tools and training.  Now it will be right in my back yard here in the Lake Nona area.  We are already bringing excellent training to the area and are looking forward to a very special training event coming up in June at the Village Walk at Lake Nona Community Center.  This event will be free and open to all area realtors, regardless of what company they work for.  I love sharing the mindset and support that has made me so successful so quickly....I know there are many otherwise excellent agents out there struggling under...
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By Carey Light, Light Team of Wemert Group Realty
(Wemert Group Realty)
FREE FIRST TIME HOMEBUYERS SEMINAR! I am excited to present a free seminar open to the public benefitting first time homebuyers.  Mortgage experts will present special programs, down payment assistance programs, and other options designed to assist the first time home buyer.  Addtionally, we will have all area short sales, foreclosures, bank owned properties and other bargain listings available to peruse.  Ask your questions about the home buying process....get pre-qualified for a mortgage right ON THE SPOT!!! Drawings will be held with opportunities to win prizes and discounts on pest inspections, home warranties and more!  Please make plans to attend this special event. FIRST TIME HOMEBUYERS SEMINAR WEDNESDAY, MAY 14TH @ 6:00 PM VILLAGE WALK AT LAKE NONA COMMUNITY CENTER REFRESHMENTS ...
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By Judy Chapman
(Referral Network of Illinois LLC)
       Price your house competitively from the outset - With my exclusive Strategic Price Analysis, you’ll be able to pinpoint the competitive market value of your house in 4 easy-to-follow steps & settle on a strategic list price aimed at getting your house sold as quickly as possible. Offer extra commission to the buyer’s agent - With this extra incentive, buyers’ agents will want to show your house first. Stage your house like a model home - Buyers will snap up your house when they see it’s the best and only choice. Offer to pay the buyer’s closing costs - What better incentive for buyers to purchase your house instead of the one down the block.  Hire a Realtor® with strong internet marketing skills - Exposing your house on the Mid-Florida Multiple Listing Service (MLS), in a Realto...
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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 5 single family houses sold in the 1st quarter of 2008.  They sold for prices ranging from $274,000 to $305,000 with an average of $281,908 and ranged in size from 1,941 square feet to 2,795 square feet.  They took an average of 104 days before they sold. There are presently 9 houses that are pending closing.  They range in size from 2,035 square feet to 2,822 and the asking prices range from $168,000 to $370,000 with $284,503 being the average.  They lasted 80 days before they went into contract.  Remember the days to close will go up since they have not closed yet.There are a total of 34 houses on the market.  They range in size from 1,861 square feet to 2,822 square feet wi...
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By Jerry LaRose, Waterford Lakes, Avalon Park Fl. Realtor
(Keller Williams classic Realty)
Will you wear blue?International Picture of the Year Here are two very touching photos honored this year. First Place: First PlaceTodd Heisler The Rocky Mountain NewsWhen 2nd Lt. James Cathey's body arrived at the Reno Airport , Marines climbed into the cargo hold of the plane and draped the flag over his casket as passengers watched the family gather on the tarmac.During the arrival of another Marine's casket last year at Denver International Airport , Major Steve Beck described the scene as so powerful: 'See the people in the windows? They sat right there in the plane, watching those Marines. You gotta wonder what's going through their minds, knowing that they're on the plane that brought him home,' he said 'They will remember being on that plane for the rest of their lives. They're ...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
Will you wear blue?International Picture of the Year Here are two very touching photos honored this year. First Place: First PlaceTodd Heisler The Rocky Mountain NewsWhen 2nd Lt. James Cathey's body arrived at the Reno Airport , Marines climbed into the cargo hold of the plane and draped the flag over his casket as passengers watched the family gather on the tarmac.During the arrival of another Marine's casket last year at Denver International Airport , Major Steve Beck described the scene as so powerful: 'See the people in the windows? They sat right there in the plane, watching those Marines. You gotta wonder what's going through their minds, knowing that they're on the plane that brought him home,' he said 'They will remember being on that plane for the rest of their lives. They're ...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Coldwell Banker of Central Florida reported, in the Orlando Sentinel today, their best sales month since March of 2007. They reported 520 sales transaction sides in April compared with 502 in March of last year.  http://www.orlandosentinel.com/business/orl-realestate0808may08,0,998093.storyThis is just more evidence of what I have been saying in my Orlando Real Estate blog. Sales are picking up. That is the first step in a recovery or turnaround. Prices always lag sales, so we will see prices continue to decline somewhat.http://www.davidwelch.com/, http://www.orlandoarearealtor.com/
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By Drew Peterson
(Keller Williams Advantage II Realty)
We'd like to start this blog by saying thank you to those of you who read and commented on our "Top Ten Realtor Myths" blog series. If you missed it, you can click here to visit Our Blog and check out the posts. Now, let's get down to business. How do you choose your Realtor? How do you choose the person or persons who will represent you during one of the largest financial transactions of your life? Make no mistake about it. Choosing the wrong Realtor can cost you thousands or tens of thousands of dollars. It can make your life infinitely more stressful. The good news, however, is that choosing a great Realtor is fairly simple if you know where to look. The best single place to begin your search for a Realtor is right in your own backyard. Take a drive through your neighborhood and note...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Waterford Lakes is located in the east Orlando real estate market.  There have been 18 single family houses sold in the 1st quarter of 2008.  They range in price from $218,000 to $331,500 with $265,372 being the average and 9 of them having swimming pools.  The square footage ranges from 1,610 to 3,162 and the houses lasted an average of 157 days on the market before they sold.There are presently 14 houses that are pending closing with an asking price range from $175,000 to $349,900 with $260,077 being the average.  These houses range in size from 1,214 to 3,072 square feet with 8 of them having swimming pools.  The average time on the market is currently 91 days.  Remember these properties have not closed yet so the average time to close will rise.There are a total of 55 houses on the ...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Vista Lakes is located in the east Orlando real estate market. There have been 11 single family houses sold in the 1st quarter of 2008. They range in price from $219,900 to $568,000 with $365,436 being the average. The square footage ranges from 2,048 to 4,456 and the houses lasted an average of 119 days on the market before they closed.   There are presently 13 houses that are pending closing with an asking price range from $214,700 to $545,000 with $310,522 being the average. These houses range in size from 1,781 to 3,904 square feet. The average time on the market is currently 113 days. Remember these properties have not closed yet so the average time to close will rise.  There are a total of 113 houses on the market ranging in size from 1,399 to 4,551 square feet with asking prices ...
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By Jerry LaRose, Waterford Lakes, Avalon Park Fl. Realtor
(Keller Williams classic Realty)
Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your credit profile before a home purchase, you can ensure a smooth finance process and can potentially save thousands on your loan.Start by checking your credit reports from TransUnion, Equifax and Experian * To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 650 in order to qualify for most prime loans.* If your credit score is not quite 650, focus your efforts on paying bills on time, reducing your debt balances, avoiding new inquiries and clearing negative inaccuracies from your credit report. It is possible to improve your credit score quite a bit over a few months.* Make sure the informati...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
 Buying a home is probably the single largest investment most people make in a lifetime. By preparing yourself and your credit profile before a home purchase, you can ensure a smooth finance process and can potentially save thousands on your loan.Start by checking your credit reports from TransUnion, Equifax and Experian            *        To get the best possible mortgage rate, make sure your credit history is healthy and accurate. Aim to raise your credit score above 650 in order to qualify for most prime loans.*        If your credit score is not quite 650, focus your efforts on paying bills on time, reducing your debt balances, avoiding new inquiries and clearing negative inaccuracies from your credit report. It is possible to improve your credit score quite a bit over a few months...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Zillow numbers came out, and the Orlando Sentinel jumped on the "bad news". They tried to make Zillow sound like they are some kind of authority on real estate values. They have an algorithm that estimates values based upon publicly available information. I will say that there are times when the number Zillow comes up with is in the ball park, but there are far more times when it is not even close to reality.Please don't get me wrong, I am not bashing Zillow. I am just not praising them either. I advertise my listings on the Zillow website, and I always check to see what their estimated value is. When I sit down with a seller, there is a good chance they have already seen the Zillow estimate of their home. If I am working with a buyer, they almost certainly have checked the house out on...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Well today is the day that the association statistician cuts off the data coming in. I hope everyone has registered their sales from April. I have a feeling folks are getting things in the MLS in a more timely manner. As of today there were 1,161 closed sales for April that is up 81 sales from March. Of that number 206 were showing as either a pre-foreclosure or foreclosure making up 17.7% of the total sales. The current inventory is 26,960 with 4,512 showing up in one of the foreclosure categories or 16.7% of the total inventory in the tri-county area. We had a couple hundred listings expire at the end of the month, but not as many as we have been seeing. The pendings remain very strong with 2,998 contracts and a huge 965 of them in a foreclosure status representing 32.2%.The distresse...
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