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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 Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights Thinking of buying or selling a house and wondering what the new year holds for the housing market? Experts forecast home prices to end this year up 2.8% and to rise another 1.5% in 2024. And climbing prices help make homeownership a good investment. Plus, home sales are projected to increase in 2024. That’s good news because it means experts are forecasting more activity as people continue to move. If you're planning to buy or sell, it’s helpful to know what experts project for the housing market. Let’s connectto talk about the latest forecasts and craft a plan together.   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...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you're thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true. Take a look at the graph below. It breaks down how the current affordability situation stacks up to recent years. The National Association of Realtors (NAR) explains how to read the values on the graph: “To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home.” The black dotted line represents that 100 value on the index. Essentially, the higher the bar, the more affordable homes are. As you can see, the orange bar for today shows higher mortgage rates and home price...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what's ahead for the housing market. Spoiler alert: the projections may be better than you think. Here’s why.Experts Forecast Ongoing Home Price AppreciationTake a look at the latest home price forecasts from Fannie Mae, the Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR):As you can see in the orange bars on the left, on average, experts forecast prices will end this year up about 2.8% overall, and increase by another 1.5% by the end of 2024. That’s big news, considering so many people thought prices would crash this ye...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know.There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they've actually been climbing again (see graphs below):As you can see, in the first half of 2022, home prices went way up. Those increases were dramatic and unsustainable. So, in the second half of 2022, prices adjusted. Those dips were small and didn't last very long. Still, the news made a big deal about these slight declines, which may have made you worry.But what's important to know is that, in 2023, prices are going up again, and this time it's at a ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Life is a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retiring and starting a new adventure, or the bittersweet feeling of an empty nest. If something like this is changing in your own life, you may be considering buying or selling a house. That’s because through all these life-altering events, there is one common thread—the need to move.Reasons People Still Need To Move TodayAccording to the National Association of Realtors (NAR) there have been a lot of this type of milestone or life change over the last two years (see graph below): And, these big life changes are going to continue to impact people moving forward, even with the current affordability challenges brought on by higher mortgage rates and rising home prices. As Claire Tr...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights VA home loans can help people who served our country become homeowners. These loans can help qualified individuals purchase a VA-approved home or condo, build a new home, or enhance their current one. Owning a home is the American Dream, and one way to show our appreciation to veterans is by providing them with important information about the advantages of VA home loans.  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 cont...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you've been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you're thinking about buying or selling a house.But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.Foreclosure Activity Rising, but Less Than Headlines SuggestIn recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners stay in their homes during that tough time.When the moratorium ended, there was an expected rise in foreclosures. But just because they’re up, that doesn't mean the housing market is in trouble.To help you se...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn't easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says: “In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.” But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You should lean on a trusted real estate agent to help you ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights Here’s what you really need to know about a few myths causing fear in today’s housing market. Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment. If you have other fears or reservations about buying a home today, let’s connect so you have an expert to help clear those up.  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 co...
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By Florida Tolbert Team Keller Williams Advantage, Keller Williams Land Luxury Division Specialist
(Keller Williams Advantage III Realty in Lake Nona)
PENDING IN JUST 12 DAYS! and now for the REST OF THE STORY!Following the incredible story of the amazing twin sisters on HGTV, we just completed the first ever UNSELLABLE HOUSE in Orlando FL.Our seller was introduced to us by her sister-in-law, The Linda Green Team (kw.com) and she told us this very sweet widow had lost her husband and has some health issues and the family decided it was time for her to move on from her 1994 home she and her husband bought brand new and raised their family in.We met with seller and she told with the 31 year old home and with the condition needing much deferred maintenance, she had received offers of $225,000 in its current condition.  Being huge fans of the HGTV show, we decided this seller was the perfect fit to use this method on and introduce Orlando...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
The idea of owning a home has always been a big part of the American Dream. It's a symbol of stability, independence, and having a place to truly call your own. But for Gen Z, the "Zoomers" born between 1997 and 2012, making that dream a reality can feel like quite the challenge today with higher mortgage rates and rising home prices. But achieving that goal of owning your first home can still be attainable, even today, with some strategic planning and resourcefulness. Explore Down Payment Assistance Options With prices rising all around you, it can be hard to save up for a home. If you've been struggling to stash away enough cash for that down payment, it’s worth it to look into the various down payment assistance programs available. These programs can really help you save big on the ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.Home Values Appreciate over TimeThere’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run, home values rise (see graph below):Using data from the Federal Reserve for the past 60 years, you can see the overall trend is home prices have climbed quite st...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move.One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory  situation and what it means for you.The Supply of Homes for Sale Is Far Below the NormWhen you’re selling something, it helps if what you’re selling is in demand, but is also in low supply. Why? That makes it even more desirable since there’s not enough to go around. That’s exactly what’s happening in the housing market today. There are more buyers looking to buy than there are homes for sale.To tell the story of just how low inventory is, here’s the latest information on active listings, or homes avai...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through.But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below): Here’s what this graph shows. In the first half of 2022, home prices rose significantly (the green bars on the left side of the graphs above). Those increases were dramatic and unsustainable. So, in the second half of the year, prices went through a correction and started dippin...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there's a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it's important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains: “Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.” Here’s a bit more information on just a few of those things and how you may miss out if you don’t use an agent. You May Not Price it Right Pricing your house right is key to a successful sale...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
If you're considering selling your house right now, it's likely because something in your life has changed. And while things like mortgage rates play a big role in your decision, you don’t want that to overshadow why you thought about making a move in the first place. It’s true mortgage rates are higher right now, and that has an impact on affordability. As a result, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home. But your lifestyle and your changing needs matter, too. As a recent article from Realtor.com says: “No matter what interest rates and home prices do next, sometimes homeowners just have to move—due to a new job, new baby, divorce, death, or some other major life change.” Here are a few of th...
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By Alan Brown, 32 Years of Real Estate Experience .
(Coldwell Banker Realty)
The long anticipated $500 million Sports and Entertainment district in downtown Orlando took a step closer to reality yesterday. The Orlando Magic NBA Basketball team announced its development partners JMA Ventures LLC of San Francisco and Machete Group Inc of Houston. The 8.5 acre site is located directly across the street from the Amway Center the home of the Orlando Magic and the Ice Hockey team the Solar Bears. Its also in close proximity to the Orlando City soccer's Exploria Stadium, and Camping World Stadium. The exact details for what will be built has not been revealed. However it is likely to include a 260 room full service hotel with 16,000 sq ft of meeting and conference space, 270 residential units, 200,000 sq ft of Class A office space, 125,000 sq ft of retail, a 3,500 capa...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Mortgage rates  have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below):   That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know.     How Higher Mortgage Rates Impact You    There’s no denying mortgage rates are higher right now than they were in recent years. And, when rates are up, that affects overall home affordability. It works like this. The higher the rate, the more expensive it is to borrow money when you buy a home. That’s because, as rates trend up, your monthly mortgage ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Take a moment to imagine where you want to be in a few years. You might be thinking about your job, money, wanting more stability, or goals you want to reach soon. Is homeownership a part of that vision? If it is, you should know owning a home has a whole lot of financial benefits.One of the many reasons to buy a home is that it’s a great way to build wealth and gain financial stability. That’s because the value of most homes increases over time, which in turn grows your net worth. Here’s how home values are rising right now. According to Zillow:“The total value of the U.S. housing market – the sum of Zillow’s estimated value for every U.S. home – is now slightly less than $52 trillion, which is $1.1 trillion higher than the previous peak reached last June.”Basically, homeownership is a...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Are you thinking about making a move? If so, all the speculation that home prices would crash this year may have you feeling a bit on edge about your decision. Let the data and the experts reassure you. Prices aren’t in a downward spiral and will actually finish the year strong.Even though you may have heard talk that prices would drop 5, 10, or even 20% this year, that hasn’t happened. The big reason why is the supply of homes for sale is too low. There are just more buyers looking to buy than homes available, and that’s kept prices from falling.To prove this year wasn’t a bust for home prices, let’s look at the latest 2023 forecast from a number of experts.Most Experts Project Home Prices Will Net Positive this YearThe general consensus from industry experts is that home price appreci...
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