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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)
Ever thought about living in the same house with your grandparents, parents, or other loved ones? You're not alone. A lot of people are choosing to buy multi-generational homes where everyone can live together. Let's check out why they think it’s a good idea to see if it might be a good fit for you, too.Why People Are Choosing Multi-Generational LivingAccording to the National Association of Realtors (NAR), here are just a few key reasons buyers opted for multi-generational homes over the past year (see graph below): Two of the top reasons had to do with aging parents. 27% of buyers chose multi-generational homes so they could take care of their parents more easily. And 19% did it to spend more time with them. A lot of older adults want to age in place, and living in a home with loved o...
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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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Smart Growth Initiatives, Sustainable Development Movement. Smart growth in the United States has been  defined as environmentally sensitive land development whose goals are to minimize dependence on automobile transportation, reduce air pollution, and make infrastructure investment more efficient. The movement was started to combat sprawl, a form of urbanization earmarked by growth centered disconnected patterns of development, commercial strips, low density, separated land uses, automobile dominance, and minimal public open space.  Today, cities around the country have adopted "the smart growth movement" as a framework for urban, and at times, suburban revival.The National Center for Smart Growth Research and Education recently published "ten principles of smart growth", which support...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Well as I know most of the country has an unseasonably warm January I am sure more then 50% of the country has temperatures below 40 degrees. Some of you might even been shoveling some snow.I however am sitting out on my balcony in Thornton park in Downtown Orlando Florida. It's some where in the 70s cool breeze, partly sunny and well just amazing. Today is one of those days were you could spend the entire day outside.  I am watching the people and their dogs walk around without a care in the world, while the cars slowly roll down the brick lined sidewalks. (I just took this picture w/the built in camera on my mac. One of the views from my balcony over looking Summerlin ave and Wildsides Restaurant) I love urban living.  I think once I get myself cleaned up I am going to walk downstairs...
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By Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
There's nothing worse than walking into the kitchen of a basically remodelled older home and seeing the original fluorescent lights behind that ugly, dark, dry-rotted grid stuff!  I have no idea what it's called but I don't care to research it to find out because it's ugly and should in most cases be yanked out and replaced.  Take a look at the culprit:    So, the obvious question is--What can a homeowner do to ditch the ugly and bring in the new and updated in order to capture the most amount of money and get a return on what is spent on updating the kitchen ceiling light source?  At the Open House I held yesterday, the homeowner has come up with a classy-looking fix to the ugly lighting in his kitchen.  Taking out the old grid-thing and opening up the "square of height" is exactly wha...
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By Judy Chapman
(Referral Network of Illinois LLC)
According to Lawrence Yun, NAR chief economist, there’s a tug-of-war in the real estate marketplace. “On the one hand, we have a pent-up demand from the four million jobs added to our economy over the past two years of sales decline,” he says. “On the other, consumers continue to wait for additional signs of market stabilization. There are more people with financial capacity now than in 2005, but many are trying to market-time their purchase (blogger’s emphasis). As a result, the exact timing and the strength of a home sales recovery is a bit uncertain. A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.” Click for full article  What can we draw from this statement? Buyers and sellers are waiting for a thumbs-u...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
As a first time home buyer you often have lots of questions and fears about financing your first property. Here are some common fears and answers to those fears.Question: We have heard that it's cheaper to rent than buy.A rent payment on an apartment is often lower than a house payment would be, but it is not cheaper in the long run. While your rent payment could be $100-$400 lower then a house payment, you would receive no tax shelters or equity build-up. Your rent will continue to increase while a house payment will remain the same. Le's say that your current rent is $1000/mo and you would like to get your own home with more space for $1200/mo. If we assume a 5% inflation rate, over the next five years your rent would be $1000 year 1, $1050 year 2, $1102 year 3, $1158 year 4, $1215 in...
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By Simon Conway
(Orlando Area Real Estate Services)
I have been suggesting the Central Florida real esatet market has been on the bottom for about three months now. All the available data I had suggested that this was the case. Others scoffed! Others pointed fingers! Others continued to tell the tale of woe! I kept believing and kept repeating what the data was and what it was telling me. Stable inventory for three months in a row. An increasing numbers of buyers in the market month on month; A stable median price. That was the data that was out there for all to see, and yet my loan voice was saying "this is it - we have reached the bottom". So today the latest data comes out and boy is it good news. Inventory DROPPED by 2,000 between November and December. Overall price decline in our market for 12 MONTHS was just 1.21%. Median sales pr...
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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 January edition (you can read the full report by clicking here).We always start with the bad news:1.) The average number of days a home is on the market continues to creep upward, from 114 in November to 116 in December.2.) The number of sales closed is still low, with just over 1000 transactions closing last month. In comparison, there were almost twice as many sales last December.3.) The number of properties withdrawn from the market dropped from 1849 in November to 1462 in December. Before we can return to a "normal" market, we need about 15,000 homes to either sell or be withdrawn.Taken as a whole, the bad news is actually pretty mi...
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By Judy Chapman
(Referral Network of Illinois LLC)
According to the National Association of Realtors® in their “2007 Profile of Florida Homebuyers and Sellers”, last year 21% of homes were purchased by single women. As a single woman, I applaud this statistic, but I have to admit, I’m more than a little surprised. I never knew there were so many women out there who, like me, have taken on the responsibilities and financial risks of homeownership. In my lifetime, I’ve owned four homes. The first two were condos, a compromise with the apartment life I’d been used to. But let’s face it. A condo isn’t a house. A house sits on a piece of land. And the floors, the roof, the four walls aren’t connected to anything but the land. So my next two homes were single-family detached homes with garages and back yards, HVAC units and hot water heaters,...
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By Judy Chapman
(Referral Network of Illinois LLC)
The Great American Dream has, and always will be, home ownership. Sixty percent of people in the U.S. own their own homes. Why shouldn’t the other 40% come along for the ride? Well, they could. And they should. But only if they can afford to. Only if they’ve worked hard to make it happen. Only if they understand it isn’t a right but a privilege to own your own home. Unfortunately, attitudes have changed in recent years. When it happened, exactly, I can’t pinpoint. But somewhere along the way, everybody began to expect to get something for nothing. Maybe it’s that credit card mentality. Buy now, pay later, to hell with the consequences. Perhaps, even, it’s the way our Federal and local governments manage their own budgets. Carrying huge deficits. Purchasing wars while ignoring at-home in...
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Okey.... so I've done my humor bit about my trip to Disney (see it here).... but I really do have some REAL advice if you're planning a trip to the Magic Kingdom....10. Get to the parks when they open.  The lines are shorter and you can ride the popular rides a few times with short lines.9. If you stay off of the resorts.... route 192 east is better than 192 west in terms of traffic.  When the parks let out at night... 192 west gets backed up.8. Buy your souveniers for your kids before you go.  They are more expensive AT the parks than at the mall.7. If your kids like the characters (and aren't terrified by them) buy an autograph book before you go and go character hunting at the park.6. I you plan to get a fast pass for the more popular rides, be aware that they do run out.  "Soaring" ...
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By Rick Belben, Orlando Real Estate - Belben Realty Group
(Belben Realty Group)
Selling your Orlando FL Home Rick Belben the Right Representative to sell your home!1. Find the right representativeThe experience and knowledge of a dedicated real estate professional can be priceless. A good Realtor® forms a powerful team with his or her clients that makes it possible for them to have a smooth, successful, stress-free sale. 2. Determine your needs/wants for the sale and for your new homeSelling your primary residence can be tricky because you have to simultaneously be thinking about where you would like to buy. First weigh your priorities - selling price is certainly important, but having a quick and efficient sale can often be worth accepting a slightly lower offer. Talk to your agent and make sure you're comfortable with where your priorities are.At the same time, y...
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I have to applaud Disney's decision to establish a minimum age requirement at their AAA rated 5 Diamond restaurant Victoria & Albert's.  The Orlando Sentinel reported on Saturday that children under 10 will no longer be welcome at the only 5 Diamond rated restaurant in Central Florida.  When you are spending over $125 for a 7 course, 3 hour meal, the thought of a unhappy child in the restaurant is enough to make you loose your appetite.  I'm not sure that I can sit still for a 3 hour meal, let alone a 3 year old.  There are so many great restaurants at Disney World to choose from... I'm hoping that there isn't a backlash for their decision.    What do you think...  Would you like the children or non-children section when you go out to an upscale restaurant? Contact Debbie Summers, REALT...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
I wanted to help impart my wisdom on a recent deal. The owner is out of state and bought this unit as an investment property. He missed numerous payments and even had a second mortgage on the property. Country Wide was the note holder but however the property had moved into Foreclosure and was sold off to another company.It took numerous hours, phone calls, emails and grey hairs but I have gotten the deal done.Amount Owed:  $240,000I listed at :       $149,900BPO:               $135,000Offer:              $120,000 The offer was finally accepted today. They are paying full 6% commission, plus the $500 owed to the HOA.  It's a huge loss to the lender but for them it's better then taking the property back.  Also heres a little more information on this deal. I listed it the end of September...
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By Judy Chapman
(Referral Network of Illinois LLC)
Buyers, I’ve decided, are unrealistic. They have reason to be. This is, after all, a time of fantastic opportunities in real estate. It’s like the once-a-year wedding dress event at Filenes department stores, where satin gowns are practically given away, or seemingly so, in what is unofficially called the “Running of the Brides.” When young brides arrive in the bargain basement, all they can see is white, like the white of a blizzard, blinding to the casual eye. Then they rush in to the white and grab at the individual snowflakes, trying to ferret out one from another before they irretrievably melt. Young brides-to-be try on dress after dress, searching for that perfect one. And in a maddened frenzy, they buy. They slap down a plastic card. They sign on the dotted line. And when they le...
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By Alexander Harb, Dallas, Texas Real Estate Investing
(Knights Investing)
      Here is another market report of homes for sale in the north eastern part of Kissimmee, Florida.This community is called Southchase and it is just north of Buenaventura Lakes in sunny southern central Florida. Here are some statistics to go along with the area:There are 66 active listings in the area as of this posting (1/05/08).The asking prices start at $198,000 and go to as high as $519,000, so there is a WIDE range of homes to choose from.Most of the homes are 3 bedroom with 2 baths.... but in the larger homes up to 6bedrooms and 4 bathrooms are found.The average home is a little more than 2,000 square feet, which is pretty large. To see the complete list (all 66 homes) of available properties for sale with pictures and some virtual tours, click the link below:  Southchase, Fl...
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By Alexander Harb, Dallas, Texas Real Estate Investing
(Knights Investing)
     As of today, 1/04/2008 there are a BUNCH of homes for sale in Hunters Creek, Florida 32837:251 homes to be exact!!!Community centers, community pools, tennis courts, work out gyms and more are just a few of the features included with some of the sub-divisions within Hunters Creek, Florida.In the homes for sale, you will find so manyluxury features it will make your head spin.Gated access, armed security guards, alarm systems and more are all available to give you a sense of peace and tranquility in Hunters Creek.These homes start at asking prices of $222,000for a luxury 1/1 condo all the way to $847,000 for an estate home with 5 bedrooms and 4 and a half baths.To see these central Florida real estate homes for yourself (all 251 of them!), just click on the link below: Hunters Creek...
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By Judy Chapman
(Referral Network of Illinois LLC)
And why shouldn’t they? It’s not their fault the real estate market has tanked. It’s not their fault they bought when everyone else was busy speculating on escalating prices, but all they wanted was a place to live. It’s not their fault mortgage lenders got everyone into financial messes, including their own companies. And it’s not their fault builders planned on the booming economy and easy credit going on forever. So sure they should be mad. But after they get mad, they have to see the way the real estate market really is. Harsh. Competitive. And finally they have to face the fact they’re just not going to get the price they wanted. They’re going to get the price the buyer is willing to pay. And they have to settle for that. Or else they have to sit tight and wait for the bloodletting...
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By Dawn Pratt, East Orlando Real Estate
What's Happening in Our Area?                                                  October     November     DecemberNumber of Homes Sold              54               35               45Homes for Sale                          882             883             862New Listings                              202             140             137Recommendation: If you're buying a home, it is important that you work closely with a highly-motivated agent, like myself, who understands what's going on with the real estate market and local economy. I will be able to advise you on how to get the most for your money and what homes you may want to avoid, as there are homes on the market that are not priced at their fair market value. If you're selling your home, it's also important that you work closely with...
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By Christopher Martin
(United Realty)
     Hello everyone.  This is my first post so I will start it out by saying what we do. We are the Real Estate company that assists you when you Buy pre-construction, re-sale, or condo-conversion properties in the Central Florida area so you get the best price, save money and get cash at closing.  We give you part of our commission back, saving you $1,000's on your purchase and putting that $ back in your pocket.  The Best part of this whole process is this:  You pay the same price for your home whether you go directly to the seller/developer or you work through us.  Call Chris at 407-529-9286 and visit http://www.rebateflorida.com/.
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
While many of you would not think of Downtown Orlando as an urban neighborhood, Orlando is one of the fast up and coming urban lifestyle areas in the South East. As the only certified member of the Urban Living 2000 network in Orlando, FL I pride myself on being up to date on Orlando's newest and hottest real estate finds.I was recently touring the two new buildings The Solaire and The VUE. The Solaire Now you can live where you work and play. Everyone wants to, but only a few do. Discover a higher standard of living . With I-4 a virtual nightmare for commuters and the soon to close Colonial exit, why fight it. When you live here you can walk to work or ride your bike. Solaire is in the middle of everything Orlando is and will become. Located at the corner of cool and cooler, otherwise ...
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