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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)
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 Dawn Pratt, East Orlando Real Estate
  Address Listing price Sold date Sold price 3948 Avalon Park West Blvd. $275,000 2/6 $275,000 14450 Florida Privet Dr. $239,500 2/8 $232,000 13444 Phoenix Dr. $328,184 2/11 $300,000 4525 Atwood Dr. $300,000 2/15 $310,000 4209 Cleary Way $269,000 2/20 $265,000 3673 Cassia Dr. $229,900 2/29 $220,000 4019 Yeats St. $244,500 2/29 $242,500   Avalon Park Real Estate Information  
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  What’s Happening in Our Area?Single Family Home Statistics for 32828   Postal Code 32828 December2007 January2008 February2008 Number of Sales 41 22 31 Median Sales Price $280,000 $284,000 $267,000 Median Sales Price per Sq. Ft. $124 $121 $119 Active Listings (homes for sale) 702 744 705 New Listings 137 196 129 Median Days on Market 107 120 145     EAST ORLANDO BUYERS: According to the data, we have about 2 years worth of inventory available in our market. This is a great time to buy in 32828! There are over 700 single family homes from which to choose. There are plenty of homes currently listed at or below market value and with interest rates still low- even better! Also, 100% financing is still available, and on top of that, many sellers are paying for your closing costs. Now is th...
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By Robert Schott & Paula Hemani, Your Link to Real Estate
(TeamConnect Realty)
He was a joy to watch with his love for the game a team player fighting to the end of every game, win or lose you knew you got 110% from Favre every single game.  TEAMCONNECT has strong ties to Green Bay with our parents growing up in Green Bay and the packer cool aid passed down to the nine of us.  During the Ice Bowl our grandparents are seen on ESPN with their fur coats in the bitter Frozen Tundra.  My grandfather boasted a gold vest that is signed by 28 packer greats he got flying back on the same plan as the Packers in the early 60's and my brother hangs on to a homemade Packer flag made years ago.  Some of the family took some didn't, so during Bear and Packer games the room is split between TeamConnect members, not very common for us. We are a competitive team and I do know some ...
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By Robert Schott & Paula Hemani, Your Link to Real Estate
(TeamConnect Realty)
 The Dr Phillips community again out did themselves with the opening of the NEW Dr P. Phillips Park which is located lake front to Big Sand Lake.  The one thing that has always been missing in Dr Phillips is a park where family's, Kids and grownup all can enjoy the beautiful outdoor activities.  If you haven't had the pleasure take a drive down Buena Vista Woods from Apopka Vineland, you will be impressed.  Well done Dr Phillips creative minds were at work!  Take a look at communities and homes that located around the new park. two SoccerThree Play AreasBasketball CourtPravilionLake FrontWalk PathsExercice TrailAmphitheater Baseball Field Two Fenced Dog Parkstwo Sand Volley BallWater/Splash ParkConession AreaPublic RestroomsLots of ParkingLights everywhere
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
HUD Unveils Proposed Changes to Mortgage Process The federal department of Housing and Urban Development plans to unveil sweeping proposed changes to the American mortgage application process and real estate settlement system.The rule changes are the end-product of HUD's five-year effort to streamline mortgage disclosures, promote comparison shopping by loan applicants, and to stamp out eleventh-hour surprises at closings -- where fees come in hundreds or thousands of dollars higher than initial estimates.Realty Times obtained a point by point summary of the proposals in advance of their official release by HUD. The changes are designed to radically overhaul the current, much-criticized "Good Faith Estimates" (or GFE) disclosures and the "HUD-1" closing procedures.Among the key changes ...
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By Robert Schott & Paula Hemani, Your Link to Real Estate
(TeamConnect Realty)
TeamConnect just listed in The Estates at Phillips Landing Dr Phillips Florida.  Exquisite attention to detail featuring Travertine, Marble & Hardwood flooring, Detailed Ceilings, Grand Gourmet kitchen with granite countertops & backsplash, six burner Viking gas cooktop, breakfast bar, pantry, center island with sink and double oven.  Custom built-ins in the family room, office and living room.  Wine room includes stone wall with custom wine rack, master suite features a sitting area with views of the pool, spa & greenbelt, two walk-in closets, master bath with marble floors, shower and whirlpool tub, dual shower heads and private water closet with bidet.   Huge heated pool & spa with four water fountains, brick pavers, Summer Kitchen, and tranquil views of the Greenbelt for your privac...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Sea World has just opened an all new water park called Aquatica. It's a first of it's kind. While you are here in Orlando why not find a perfect Vacation Home. The Orlando housing market has a 104% affordablity index. This means you can find amazing deals. I have some great units available, brand new construction, you can also rent these units out while you arent staying in Orlando and make a profit on your investment.If you use my services to help you in finding a vacation, second or primary residency. I will give you 4 free tickets to aquatica or if you went with in 60 days of purchasing a home through me I will rebate your ticket price.So what is the aquatica?All throughout the park you'll find some pretty colorful characters, these characters, to be exact. Inspired by the energy of ...
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By Robert Schott & Paula Hemani, Your Link to Real Estate
(TeamConnect Realty)
The Central Florida and Dr Phillips real estate market is is starting to pick up.  I was in the office over the weekend which is pretty much a norm for me but the last couple of weekends it's been a little different.  From October through December 2007 weekends was usually me and a couple of TeamConnect members and the front desk receptionist.  But these last couple of weekends I had a couple of near misses running into agents running around meeting buyers, picking up faxes and offers.  Don't get me wrong we are still in a buyers market, with so much inventory (supply and demand) we will be in this buyers market throughout 2008 but there are different degrees of it.  Hopefully this is a sign of things to come.
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By Rob Arnold, Metro Orlando Full Service - Investor Friendly & F
(Sand Dollar Realty Group, Inc.)
The punch out list for the house is completely done now.  So the house is ready for a new buyer to move into.The hard part in this market of course is finding that qualified buyer.  You have to be flexible on price and terms in order to make a deal happen.  We have had lots of calls from marginal or unqualified buyers, but nobody solid that is ready to do something.  3 Realtors have shown the house in the last 2 weeks, but no solid bites.  Because we are motivated and want to get this house sold and move onto the next one, we dropped the price yesterday by $10,000 and added a $1,000 Realtor sales bonus.  The new price is $159,900 and the commission offered to buyer's agents is 3% + a $1,000 bonus. There are currently 10 active MLS listings in the subdivision.  Ours is priced 3rd from th...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
WASHINGTON -- Federal Reserve Chairman Ben Bernanke Wednesday delivered an economic forecast fraught with risks from housing, labor and credit markets, suggesting policymakers remain on track to lower interest rates further next month. Meanwhile, Mr. Bernanke indicated that inflation risks are more two-sided, though skewed slightly to the high side -- a nod to the stagflationary mix of weak growth and rising price data of late.But Mr. Bernanke made it clear where the Fed's main worries lie. "It is important to recognize that downside risks to growth remain," Mr. Bernanke told members of the House Financial Services Committee.http://online.wsj.com/article/SB120412412525296845.html?mod=hpp_us_whats_newsAbout the author:  Jerry LaRose is an Orlando Area Residential Real Estate Expert, who ...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
Yes, Florida is on-sale. Orlando is one of the best cities for bargain hunters.According to Forbes magazine Orlando is one of the top ten markets for home bargain hunters. Here they are:1. Salt Lake City, UtahOf the major metros in the U.S., Salt Lake City is adding jobs faster than anywhere. The economic boom in SLC has drawn residents from all over the country, and more than a few home builders trying to make a profit in these otherwise woeful times. Housing supply has gone up quickly, and there hasn't been a high rate of foreclosure.2. Raleigh, N.C.Raleigh is another market that has been driven by job growth. Like much of the Southeast, the expanding economy here has kept people moneyed enough to make home payments. According to RealtyTrac, there is only one foreclosure per 319 house...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Vizcaya is located in the Dr Phillips section of the Orlando real estate market.  There has been 2 single family houses sold in the 4th Quarter of 2007.  They sold for $828,000 and $1,122,500 and were 3,877 square feet and 4,483 square feet with both of them having pools.  They took an average of 111 days before they sold. There are presently 2 houses that are pending closing.  The asking prices for these houses are $594,900 and $1,295,000 and they are 3,050 square feet and 5,160 square feet.  They also have pools.There are 30 houses on the market.  They range in size from 1,974 square feet to 6,541 square feet with asking prices from $472,000 to $2,750,000.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Granada Villas is located in the Dr Phillips section of the Orlando real estate market.  There has been 4 single family houses sold in 2007.  They sold for prices ranging from $286,000 to $355,000 and they ranged in size from 1,473 square feet to 1,619 square feet with 2 of them having pools.  They took an average of 87 days before they sold. There are presently 0 houses that are pending closing.There are 9 houses on the market.  They range in size from 1,169 square feet to 1,850 square feet with asking prices from $259,900 to $346,500.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are listed in that area) will be 27 months.  This is average with the rest of t...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Phillips Landing is located in the Dr Phillips section of the Orlando real estate market.  There has been 8 single family houses sold in 2007.  They sold for prices ranging from $600,000 to $1,825,000 and they ranged in size from 2,526 square feet to 5,166 square feet with all of them having pools.  They took an average of 89 days before they sold. There is presently 1 house that is pending closing.  The asking price for this house is $631,900 and it is 2,703 square feet.  It also has a pool.There are 22 houses on the market.  They range in size from 2,268 square feet to 5,949 with asking prices from $549,000 to $2,800,000.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no oth...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
There are some important deadlines approaching with regard to provisions of Amendment 1.What you should do to receive benefits of Amendment 1 To receive some of the benefits of the changes enacted January 29th, certain citizens must take action by March 1, 2008. The Constitutional amendment created four new opportunities for taxpayers to obtain tax relief: 1. Increased homestead exemption 2. Portability of "Save our Homes" benefit 3. $25,000 exemption for tangible personal property 4. 10% annual assessment limitation for non-homestead property What taxpayers must do to receive these new benefits: 1. Increased homestead exemption - Homeowners that are currently receiving the homestead exemption will automatically receive the increased homestead exemption. No action is necessary. 2. Porta...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
Baby boomers, the generation born between 1946 and 1964, and who count more than 76 million, are getting near to retirement but are most definitely not ready for a retirement home! Whether they are selling their homes and heading to Florida or remodeling to accommodate their retired lifestyle, boomers are making an impact on new housing trends. Some features that Orlando builders and remodelers are seeing as they begin to cater to the boomer generation include the following:Home Offices- As life spans continue to increase, many are choosing to work past the age of 65. However, they want home offices for flexibility. This can also eliminate the hassle of commuting while keeping them active and adding supplemental income.Tech/Media Centers- The tech-savy boomer generation wants amenities ...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
I've recent some inquires lately as to exactly what is a short sale. Well, below is straight from the Encylopedia. Hope it helps.  In real estate, a short sale refers to the sale of a property in which the sale price is insufficient to pay off all encumbrances and pay the expenses of sale. If the lender is convinced that the owner, for various reasons, is unable to continue making the payments the lender will often agree to take less than the full amount owed to allow the sale to close escrow. The incentive for the bank to approve a short sale is to have the property sell before the loan becomes a problem account on their books. This Process may be difficult to believe but it is a definite possibility. As stated below there are hoops to jump through. Banks are willing to allow individua...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
Home prices are forecast to fall more than 30% in some communities in 'the most severe housing recession' since 1945.Housing markets from Orlando, Fla., to Stockton, Calif., will crash, and some will suffer price drops of more than 30% before the housing crisis is over, a report from Moody's Economy.com said today. I find this funny because once again the media is slow to find out. I've been telling people now for a year that we won't see the bottom until fall of 2009.We are now in the spring here in Orlando and I've sold 4 homes this week and listed another. Does that mean we're turning the market? My opinion is NO. It's simply the seasonal shift that we always have. Buyers always come out around the end of February and buying subsides in August.On a national level, the housing market...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Bay Vista Estates is located in the Dr Phillips section of the Orlando real estate market.  There has been 5 single family houses sold in 2007.  They sold for prices ranging from $400,000 to $1,350,000 with 4 of them having pools and they ranged in size from 2,604 square feet to 6.187 square feet with the last one closing on 9/28/07.  They took an average of 62 days before they sold. There are presently 0 houses that are pending closing.  There are 14 houses on the market.  They range in size from 2,038 square feet to 4,200 square feet with asking prices from $300,000 to $1,200,000 and 12 of them also have pools.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses a...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Brentwood Club is located in the Dr Phillips section of the Orlando real estate market.  There has been 3 single family houses sold in 2007.  They sold for prices ranging from $550,000 to $750,000 with all of them having pools and they ranged in size from 2,880 square feet to 4,097 square feet with the last one closing on 10/12/07.  They took an average of 72 days before they sold. There are presently 0 houses that are pending closing. .There are 4 houses on the market.  They range in size from 2,870 square feet to 4,981 square feet with asking prices from $529,900 to $1,149,000 and 2 of them also have pools.Considering the amount of houses sold in 2007, the saturation rate, (the amount of time it will take to sell all of the houses in a specific area assuming that no other houses are l...
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