Orange County, FL Real Estate News

By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
The 11 year trend of falling inventory is definitely reversing. New listings shot up nearly 12% pushing our inventory of homes available for sale up over 36% compared to a year ago. Our upward sales trend has not quite reversed course, but may be heading that way. In April we saw sales slip slightly from the year before, but May had a slight rebound with 3,946 closed sales up 1.9% compared with May of 2021. Prices continue to push higher with nearly a 27% increase in the median sales price compared to a year earlier. The May median sales price climbed to $379,950 compared to just $300,000 in May of 2021.Higher prices and higher interest rates are bound to take a toll on sales, but for now Orlando real estate is still looking very strong. Check out this short video breaking down the late...
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
Two notable changes may indicate a couple of new trends in the #OrlandoRealEstate market.First, inventory actually ticked up compared to a year ago. Last month we had 2,670 homes of all types available for sale compared to 2,655 a year earlier. Since 2011, this is only the third time we have seen a year over year increase in inventory. The other two times were at the peak of COVID lockdowns in 2020.Second, total sales dropped pretty sharply. There were 3,800 closed sales last month compared to 4,081 a year earlier. The rapid rise in interest rates has clearly had an impact, especially on buyers in lower price ranges. One of my buyers saw her purchasing power drop by $30,000 due to interest rate increases.Check out this brief video with more information about the latest Orlando real esta...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. Let’s connect so you can find a house that meets your changing needs and has plenty of space for you and your loved ones. Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 519-0719Fax: (407) 205-1951email: info@phphouses.comLet’s Connect:FacebookLinkedinTwitterInstagramThe information contained, and the opinions expressed, in this article are not intended to be con...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
Some Highlights If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity. Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowner’s equity grew by $55,300. Ready to sell? Let’s connect to talk about how you can use that equity to fuel your next move. Contact us:PHP Houses142 W Lakeview AveUnit 1030Lake Mary, FL 32746Ph: (407) 519-0719Fax: (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 ...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
When it comes to buying a home, it can feel a bit intimidating to know how much you need to save and where to find that information. But you should know, you’re not expected to have all the answers yourself. There are many trusted professionals who can help you understand your finances and what you’ll need to budget for throughout the process.To get you started, here are a few things experts say you should plan for along the way.1. Down PaymentAs you set your savings goal for your purchase, your down payment is likely already top of mind. And, like many other people, you may believe you need to set aside 20% of the home’s purchase price for that down payment – but that’s not always the case. The National Association of Realtors (NAR) says:“One of the biggest misconceptions among housing...
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By Walter DiLoreto, Real Estate Short Sale Specialist
(PHP Houses)
The link between financial security and homeownership is especially important today as inflationrises.  But many people may not realize just how much owning a home contributes to your overall net worth. As Leslie Rouda Smith, President of the National Association of Realtors (NAR), says:“Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal.Owning a Home Is a Building Block for Financial SuccessA recent NAR report details several homeownership trends and statistics, including the difference in net worth between homeowners and renters. It finds:“. . . the net worth of a homeowner was about $300,000 while tha...
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
This is the condo I bought a few weeks back.  It was a major fixer upper.  It is going on the market soon.  1 bedroom, 1 bathroom, downstairs unit.  Located in west Orlando, Florida.  I am looking for more properties to fix up beautifully.  Take a look at the video.https://webuyhousesflorida.com #webuyhousesflorida 
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By Debra Napier, MBA, EA, Fastest IRS lien release executioner in Central FL
(d/b/a TAMCO Capital Accounting & Finance)
When real property interests are relinquished by persons who are nonresidents, they must apply for a U.S. Individual Taxpayer Identification Number (ITIN). An ITIN can be used in place of a Social Security Number (SSN) to request reduced tax withholding from the sale of U.S. property interests and to pay IRS required withholding from the sale of U.S. property interests to a foreign person. In effect, an ITIN is a legitimate Taxpayer Identification Number for foreign persons with a U.S. tax filing obligation. Pursuant to Treasury Decision 9082 (effective November 4, 2003), buyers are defined as "transferees" and sellers are "transferors."  Transferees and transferors of U.S. real property interests must provide an ITIN to complete a withholding tax return, apply for a withholding certifi...
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
This is the latest project I started working on.  A 1 bedroom, 1 bathroom condo unit in west Orlando Florida. The first step is getting the kitchen and bathrooms back together.  Then the walls and painting.  Then the flooring.  Then the light fixtures and accessories.  Estimated time to finish is 30 days or less.  Enjoy the video.If you are looking for a cash buyer, I am interested in making a serious offer on your property.  Realtors can keep both sides of the commission.  I don't make long drawn out inspection periods and don't need a financing or appraisal contingency.  As you can see by this video, heavy rehab jobs do not scare me.  Mold damage, fire, sinkhole, termites, etc. are ok too.#webuyhousesflorida 
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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)
20398 RACINE STREET, ORLANDO, FL 1.24 Acres Wedgefield Get Directions Click Here Description Photos Real Estate Reports for Home Owners, Sellers & Buyers! Maps & Local Schools Print $ Click for current price This will be the one that got away if you miss this. 1.24 acres in the heart of Wedgefield and it is COMPLETELY CERTIFIED WETLANDS FREE and partially cleared already with only a few pines and palmettos remaining. CAD is already issued and attached making this lot ready to build on immediately. This is your dream lot and location and we fully expect this will be highly sought after. Area is located right off of interstate 528 giving the commuter easy access to Orlando airport, I95, 417 and downtown. Beaches are about 40 miles East, to the West is Orlando activities and theme parks, ...
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By Pat Champion, Call the "CHAMPION" for all your real estate needs
(John Roberts Realty)
HOW TO STAGE TO MAKE SMALL SPACES LOOK BIGGERA seller can make small spaces appear bigger for the buyer by using these 5 simple tips:Get rid of most of the stuff. Ask sellers to box everything they don’t need daily, and anything smaller than a football. Clean off countertops, go through cupboards and built-ins, remove knick-knacks. Smaller spaces favor minimalist designs. Leaving just a bare minimum of stuff will open up a room, creating the feeling of more space.Take down heavy drapes and window coverings. Have sellers leave the windows bare or hang sheer linen curtains. The house will immediately feel brighter and cheerier—and you’ll extend the view to the outdoors, which also makes the space feel bigger.Remove artwork. Walls covered in artwork can also feel cluttered. Blank wall spac...
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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)
Another year closer to when the day will be the most GLORIOUS DAY when i can meet my lord and savior and see my GRANDDADDY once again! My granddaddy was the only father that I ever had in my life and I have memories of fishing with him as young as 3 in our little 14 foot Starcraft Boat with a 9.9 Johnson outboard on Lake Okeechobee. Him telling me stories about dropping the lantern overboard and hooked it weeks later and it still burning. I believed at 3. Him teaching me to cut grass when the 2nd bar of the lawn mower was taller than me, of him buying my first bike and teaching me to ride, of the stories he told and the buildings he shared that he worked on on Miami Beach like the 4 ambassadors, the first 40 story bldg in Miami.My granddaddy was a man of honor and integrity and this tim...
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By Olympus Executive Realty Inc., Home Of The Top Producers
(Olympus Executive Realty INC.)
Phillips At The Park Dr. Phillips By Builder Pulte Homes OrlandoBuilder Pulte Homes does it again! Coming Soon! Phillips At The Park in Dr. Phillips by Builder Pulte Homes Orlando with 50+ acres will be known for its highly convenient location. One hundred thirty-plus homes site with the '50s, '60s, and '70s size lots. This community will be conveniently located near Sand Lake Elementary and positioned between the New Middle School and Lake Buena Vista High School. A true family delight, a 2-minute walk from any of the three schools. For all your Phillips At The Park needs, contact our Phillips at The Park Local Expert To be placed on the VIP priority list, please visit: https://olympusexecutiverealty.com/phillps-at-the-park-1  
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
Inventory remains low with 39% fewer homes of all types available for sale compared with a year ago. We did see a very small, 1% increase in inventory from August to September however. Even with the lower inventory, total sales continued to climb by 9% compared to September of 2020. Based on the total number of sales of 3,789, we have roughly 29 days of inventory on hand. Low inventory and strong demand along with very favorable interest rates pushed the median sales price to $318,000, which is up 18% compared to last year. Be sure to check out this brief video breaking down the #OrlandoRealEstate market for September 2021.
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By Pat Champion, Call the "CHAMPION" for all your real estate needs
(John Roberts Realty)
5 Ways to Boost Curb Appeal on a BudgetIt pays to make the first impression a lasting one. Here are 5 tips which will not break the bank: Update the front door. Replacing an outdated door can be just what your home needs. This simple change can go a long way in changing the appearance of your home. If your door doesn’t need to be replaced, adding a pop of color can make for a bright change. Spruce up the landscaping. Landscaping is one of the first things people notice walking up to a house. Give your home a quick face lift by cleaning up your yard, mowing the lawn, trimming bushes, and keeping your steps clean. Freshen up the paint. New paint has the power to totally transform the look of your house in less time and for less cash than any other remodeling project. A new coat of paint w...
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
Up 13%, up 16% and down 39%. If you read my blog regularly, you already know what these are, because we have been in this trend for quite some time. The first number represents the increase in home sales last month compared to a year ago. Sales were up 13% with 3,999 closed transactions compare with 3,539 in August of 2020.  The second number represents the increase in the median sales price for Orlando real estate which was $320,000 last month. The third number represents the decline in inventory available for sale which stands at 3,638, a 39% decrease from a year ago, but a 3% increase compared with July.Check out this brief video breaking down the #OrlandoRealEstate market results for August 2021.
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
Just how challenging has the Orlando real estate market been for buyers this year? I took a look at the percentage of closed sales, in Orange and Seminole Counties for the last six months that closed above asking price. I looked at the numbers for this year compared with 2019. I went back two years for obvious reasons, given the special circumstances and challenges of 2020. Below is a table that illustrates just how much more challenging our market has been for buyers this year.  Month 2019 2021 March 8.5% 19.8% April 9.8% 27.3% May 10.2% 30.8% June 10.7% 38.2% July 9.8% 38.0% August 9.7% 36.5% You can see that in a 'normal' market nearly 10% our sales in Orlando close above the asking price. In our super heated market of 2021 that percentage has more than tripled. We have seen inventor...
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
No major changes last month. Sales and prices continue to climb double digits, while inventory continues to run low. Total sales in July rose 14% compared to a year ago with 4,183 homes of all types closing last month. The median price of the homes sold in July rose 18% compared to July 2020 with a median sales price of $320,000. While inventory was still 43% lower than a year ago, we did see a rise of 14% compared to June. As of the end of July there were 3,524 homes available for sale representing about a 26 day supply of homes on the market. Check out this brief video breakdown of the #OrlandoRealEstate market results for July 2021.
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By David Welch, #OrlandoRealEstate Optimist
(Remax 200 Realty)
The #OrlandoRealEstate market continues to burn red hot as the summer selling season got under way last month. Sales and prices soared double digits, while the inventory of homes available for sale remains extremely low. June saw a 42% increase in the number of homes sold, compared to last year. The 4,414 closed sales last month is the highest number so far this year. The median price last month jumped 19% compared to a year ago, skyrocketing from $265,000 a year ago to $315,000. The inventory of homes available for sale did increase about 10% compared to May, but was still 53% lower than a year ago. There were only 3,098 homes active on the market for sale, which represents only about a three week supply of inventory. Check out this video breakdown of the market.
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By Debra Napier, MBA, EA, Fastest IRS lien release executioner in Central FL
(d/b/a TAMCO Capital Accounting & Finance)
So you get a title report in and find an IRS Notice of Federal Tax Lien (NFTL) in public records that encumbers the seller’s assets. In a state of panic you realize that this $1.3 million dollar closing next month is in serious jeopardy. You need help to fix this IRS problem like yesterday.Unfortunately, settlement agents and closing attorneys will see more of this in the near future not less. It’s critical to be proactive now and form relationships with specialized tax resolution experts. A target has been placed on the assets of high-income taxpayers by the IRS and they intend to collect by any means necessary. Why now? Part of it relates to COVID-19 and how it slowed IRS enforcement activity because offices closed. A larger factor, however, is a report issued May 29, 2020, by the Tre...
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