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Welcome to Orlando Real Estate! Tips, resources, news, gossip, and prices for the Orlando area.
Currently lots of Short sales, foreclosures, and bank owned homes in the Orlando, FL area.
Increased sales of Orlando properties speak for themselves. A large growth in the Apopka area as well. We’ve’ seen some amazing reductions for Orlando homes, town homes, and condos (off of Orange Ave) for sale in metro Orlando. The numbers represent averages and may not necessarily apply to upscale homes in the $500,000 and more range where unsold inventory of luxury homes is much larger. In Orange county a 40% improvement, in Seminole County a 42%, Volusia County 37%, Lake County, 35% and in Osceola county 37%. Without any questions this did not come without a strong reduction of the average cost of a home, but as the supply of available homes becomes less the prices will stabilize as we have seen in some subdivisions or condo complexes. It is a good time to buy because the prices are at an all time low.
The Orlando real estate market is generally looked at as 5 counties: Orange, Seminole Volusia, Osceola and Lake County. These 5 counties represent cities such as Orlando, Lake Mary, Windermere, Clermont, Kissimmee, Ocoee, Davenport, Oviedo, Winter Park, Longwood, Apopka, Maitland, Debary, Deland, Sanford, Altamonte Springs and currently have 35486 homes, condos and town homes for sale, 4785 are bank owned properties, 15617 are short sales. This means that well over 50% of the total housing inventory is in some kind of distress, that is a huge opportunity for first time home buyers, investors, and secondary home buyers. The weather is great in Florida, tourists are still coming in and packing the theme parks’ shuttles, and with such low homes prices who can resist.
Orlando is not on either of these recent lists:
TOP 5 METROS IN ANNUAL POSITIVE APPRECIATION
Seattle, WA: +10.6%
Portland, OR: +7.7%
Charlotte, NC: +7.3%
Miami, FL: +2.9%
Atlanta, GA: +2.1%
TOP 5 METROS IN ANNUAL NEGATIVE APPRECIATION
Detroit, MI: -7.8%
San Diego, CA: -5.0%
Boston, MA: -4.7%
Washington, DC: -4.3%
Cleveland, OH: -2.7%
Looking for a property manager? Look for:
1. Rental analysis to determine market rental rate.
2. Advertising & marketing of the property.
3. Showing of the property by qualified personnel.
4. Comprehensive resident screening/qualifying including credit,
criminal, eviction, income/employment/rental history verification, etc.
5. Move-in & move-out inspections including photos/video.
6. Each individual lease is attorney prepared.
7. Collection & processing of monthly rents.
8. Computerized accounting – monthly/year-end tax statements.
9. Full service maintenance coordination/supervision with no “markups”.
10. Periodic inspection to ensure compliance with the terms of the lease.
11. 24-hour on call property managers to handle any emergency issues.
12. Superior resident relations and retention-reduces vacancies!
13. Pest Control options for Roaches and Bed Bugs.
