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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)
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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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
North Shore at Lake Hart is located in the east Orlando real estate market off of Moss Park Rd in the Lake Nona section of Orlando.  There have been 8 single family houses sold in the 1st quarter of 2008 with 3 of them having pools.  They range in price from $297,500 to $850,000 with $417,250 being the average.  The square footage ranges from 2,597 to 5,370 and the houses lasted an average of 187 days on the market before they closed.There are presently 6 houses that are pending closing with a range in price from $199,000 to $1,740,000 with 2 of them having pools.  They range in size from 2,079 square feet to 5,382 square feet and have been on the market for an average of 61 days.There are a total of 57 houses on the market ranging in size from 1,738 to 6,043 square feet with asking pri...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Northlake Park is located in the east Orlando real estate market off of Narcoossee Rd in the Lake Nona section of Orlando.  There have been 4 single family houses sold in the 1st quarter of 2008.  They range in price from $255,000 to $420,000 with $338,250 being the average.  The square footage ranges from 1,923 to 3,205 and the houses lasted an average of 199 days on the market before they closed.There are presently 7 houses that are pending closing with a price range from $252,997 to $485,900 with $307,651 being the average.  The houses range in size from 1,565 square feet to 3,060 square feet and have been on the market for an average of 313 days.There are a total of 43 houses on the market ranging in size from 1,611 to 4,778 square feet with asking prices ranging form $227,050 to $6...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Meadow Woods is located in the south central sector of the Orlando real estate market.  There have been 13 single family houses sold in the 1st quarter of 2008 with 3 of them having pools.  They range in price from $137,000 to $392,000 with $222,238 being the average.  The square footage ranges from 1,199 to 2.951 and the houses lasted an average of 156 days on the market before they closed.There are presently 27 houses that are pending closing with an asking price range from $139,000 to $390,000 with $201,629 being the average.  These houses range in size from 1,178 to 2,951 square feet with 7 of them having pools.  The average time on the market is currently 113 days.  Remember these properties have not closed yet so the average time to close will rise.There are a total of 162 houses ...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
La Vina is located in the east Orlando real estate market off of Narcoossee Rd in the Lake Nona section of Orlando.  There have been 3 single family houses sold in the 1st quarter of 2008 with one of them having a pool.  They range in price from $210,525 to $245,000 with $225,175 being the average.  The square footage ranges from 1,655 to 2,053 and the houses lasted an average of 131 days on the market before they sold.There are presently 3 houses that are pending closing with a price range from $220,000 to $374,900 with the average being $293,266.  They range in size from 1,544 square feet to 3,562 square feet and have been on the market for an average of 38 days.There are a total of 30 houses on the market ranging in size from 1,685 to 3,916 square feet with asking prices ranging form...
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By Kevin & Gail OnullGrady
(O-GRADY.com)
Kevin & Gail O’Grady of Diamond Sun Properties LLC have launched their new Luxury Homes website - http://O-GRADY.com It is an easy to remember address with tons of functionality for the Luxury Homes Real Estate buyer, seller and investor. Contact Kevin & Gail with any advertising questions - kevin@o-grady.com
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By Jerry LaRose, Waterford Lakes, Avalon Park Fl. Realtor
(Keller Williams classic Realty)
Mold is a potential health danger for any family and also a legal liability for you and your clients. Because of the fear over mold contamination there are so many lawsuits flying around today that sales of resale homes are in jeopardy -- and insurance companies are scrambling to avoid liability, with some U.S. 1:country-region> insurers refusing to write any new homeowner policies. So what do you need to know about mold to best serve your clients and keep yourself out of trouble? 1. Molds are everywhere and have been around forever. Many people have the impression that this is a new problem -- think, "Attack of the killer molds!" -- and that we now must arm ourselves against the impending invasion. Nothing has changed, however, but the awareness of the presence of mold. Instead of fea...
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 My friend, Marta was visiting this past week from Washington State.  We had such a great time and the highlight of the weekend is a toss up between a day at the Canyon Ranch Spa and a helicopter ride we took in the heart of the tourist mecca of International Drive.  Since I can share my massage with you, buckle your seatbelt and let's go for a ride.     I tried out my Flip Video camera during her visit and shot some footage of our ride...  I'm pretty happy with it for my first attempt.        Contact Debbie Summers, REALTOR®, ALHS, e-PRO, RE/MAX Central RealtyPlease contact Cas and Debbie for all of your real estate needs in Seminole County, Lake Mary, Sanford, Longwood, Altamonte Springs, Casselberry, Winter Springs, Oviedo, Winter Park, Maitland, Apopka and Orlando. 407-758-1020 or D...
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By Drew Peterson
(Keller Williams Advantage II Realty)
If you just read the title of this blog, you are likely asking yourself what predicting the national weather means. After all, there isn't really a "national" weather, right? It varies from town to town, city to city. Heck, it can even vary from neighborhood to neighborhood. Imagine turning on the TV today and seeing a meteorologist say the national weather was going to be 82 degrees and sunny. Would you believe that? Not if you had lived in Orlando for any period of time. You would know it was going to be at least 95 degrees with the likelihood of an afternoon shower.What's the point of this discussion and how does it relate to real estate? Simple. Real estate, much like the weather, is a local phenomenon. There is no "national" real estate market.Now, there is the obvious elephant in ...
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By Drew Peterson
(Keller Williams Advantage II Realty)
(Stick with us for a brief history of real estate law before we hit the meat of this blog.) Way back when, the seller was king. Real estate agents only represented homeowners, home inspections were unheard of, and the burden was on the buyer to make sure he was purchasing a sound investment.What's that? The roof leaked the day you moved in? Too bad. Once you closed on a home, it didn't matter what you found. The house could collapse the next day and you were stuck holding the bill.Fortunately, that has changed over the last few decades. The protections for buyers have been expanding, with more of the burden being transferred to the seller. Today, homeowners are required to disclose all latent defects that materially affect the value of the home. Latent defects include a leaking roof, mo...
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By Drew Peterson
(Keller Williams Advantage II Realty)
Warm weather, beautiful beaches, and...foreclosures. It's not exactly how the Florida Tourism Industry would describe our state (well, at least the foreclosures part), but it is increasingly the perception of Florida in the media and around the water cooler.Depending on which study you ask, we rank somewhere in the top 5 states with the highest foreclosure rates. Exponential gains in housing prices, loose lending practices, and the popularity of Adjustable Rate Mortgages (ARMs) have combined to push a growing number of homeowners into precarious financial situations. Unable to re-finance and facing a large adjustment in their interest rates, these unfortunate souls have but one good option; the short sale.A short sale occurs when a lender allows a homeowner to sell a property for less t...
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By Jerry LaRose, Orlando, Windermere FL. Real Estate, ABR, GRI, e-PRO, CLHMS
(Orlando Realty Partners)
"I'm Mad as Hell ... and I'm not going to take it anymore." That's a quote from the movie Network, from 1976... Great Clip from that movie is below. Ya know, I’m tired of the Media slamming this market and saying how bad it is. If the media would just put a positive spin on things once in a while I think we’d all be better off. I recently heard that 1 out of 538 homes are in some sort of foreclosure in Florida and the media makes it sound like the world is coming to an end. OK, let’s do the math. 1 divided by 538 = .18587 I interpret that as .2% that means 99.8% of the market is not in foreclosure. We should be cheering. Anyway, this is how I feel today about the media. Watch the video and enjoy.
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By Judy Chapman
(Referral Network of Illinois LLC)
Couple #1 had a long-distance romance and wound up getting married in an impromptu ceremony. He owned his own home. She brought along a savings account. They sunk their joint resources into a piece of land for investment purposes. To do this, he had to free up some cash by refinancing his home. Less than a year later, they were headed for divorce. Their joint investment complicated an already contentious parting of ways. When they finally divorced, they were out thousands of dollars in attorney’s fees. Fortunately, though, the end of true love didn’t mean him losing his house or her ruining her financial future. Couple #2 lived together for nearly 20 years. He took out the loan on their house. Both their names went on the deed. When they split up, bitterness rankled on both sides. Event...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
Recently, I was called by a free-lance writer in regard to a story that she was writing for the Orlando Sentinel about pet-friendly communities in Orlando and decided to do some further research to assist her.  It appears that AAA (American Automobile Association) and Dogfriendly.com, which came out with its 2007 List of the Top 10 Dog-Friendly Vacation Spots in North America, Orlando ranks #8 in both surveys.  Since Orlando is the first Florida city on both surveys, one can deduce that Orlando is then the #1 Pet Friendly city in Florida.   One may not have assumed that the Greater Central Florida area and Orlando particularly was that pet-friendly up until a few years ago when they finally allowed doggie dining.  Granted, an establishment has a pay a $150 permit fee to allow doggie di...
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By Heather the Realtor Orlando, Lake Mary, First Time Home Buyers, Bank Owned Homes
(LemonTree Realty)
Recently on the news were some taxi cab drivers upset over the supposed monopoly here in Orlando. Now i never thought of my home town of Orlando having a big taxi cab need. Most people tend to rent vehicles or stay on site at disney and I rarely see that many on the road. But I guess according to this article it's a big deal.-- About 50 cab drivers in Orlando rallied for a bigger share of the tourist trade as they drove around the city in a morning protest. The drivers then rallied at City Hall on Monday, waving signs and chanting "Justice!" They're protesting what they say is a monopoly held by Mears Transportation Group over Orlando's attractions and hotels. They say city rules favor Mears, which has exclusive agreements with some hotels and is one of a handful of companies allowed to...
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By Drew Peterson
(Keller Williams Advantage II Realty)
Welcome to our blog series on the Top Ten Realtor Myths. Last Monday, we addressed the myth that Realtors are hired to "sell" homes. If you missed that installment, you can read it by clicking here. Now, let's move on to myth number two.Myth: A Realtor should be hired based on his or her skill at marketing homes. Fact: A Realtor should be hired based on his or her skill at pricing homes, negotiating offers, and protecting clients' interests.Once upon a time, Realtors were hired based on their marketing skill. Newspapers and home magazines were the primary means of advertising a property. Therefore, one or two photos and a brief description was all potential buyers had to go on. Realtors fielded phone calls, selling the features of their listings using flowery language and not a little e...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
"In Depth: America's Worst-Selling Housing Markets"http://www.forbes.com/2008/03/31/homes-risky-property-forbeslife-cx_mw_0331realestate_slide_2.html?partner=playlist&thisSpeed=20000Click on the link for the slide show of the markets Forbes calls the worst selling housing markets. If you ask me, the flip side is that these are the "best buying markets", and Orlando is number two. The numbers they quote in their article must include the entire metro area which is five counties. When you read my Orlando Real Estate Blog, I focus on the the tri-county "core" area, so the numbers are a bit different.The article does not go into the economics of any of the markets, and I cannot speak about the other nine mentioned. I can tell you that Orlando is still expected to be one of the top job market...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Hunters Creek is located in the south central sector of the Orlando real estate market.  There have been 27 single family houses sold in the 1st quarter of 2008.  They range in price from $225,000 to $575,000 with $296,478 being the average and 16 of them having pools.  The square footage ranges from 1,492 to 4,130 and the houses lasted an average of 113 days on the market before they closed.There are presently 44 houses that are pending closing with an asking price range from $160,000 to $599,000 with $318,534 being the average.  These houses range in size from 1,583 to 3,694 square feet with 31 of them having pools.  The average time on the market is currently 111 days.  Remember these properties have not closed yet so the average time to close will rise.There are a total of 223 house...
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By Richard Carpentieri, GRI, ABR, PRM, e-PRO
(Keller Williams Realty)
Heritage Place is located in the south central sector of the Orlando real estate market.  There have been 4 single family houses sold in the 1st quarter of 2008.  They range in price from $194,900 to $230,000 with $211,450 being the average. The square footage ranges from 1,590 to 1,802 and the houses lasted an average of 118 days on the market before they closed.There are presently 4 houses that are pending closing with an asking price range from $194,500 to $237,900 with $212,350 being the average.  These houses range in size from 1,657 to 1,934 square feet.  The average time on the market is currently 23 days.  Remember these properties have not closed yet so the average time to close will rise.There are a total of 13 houses on the market ranging in size from 1,324 to 2,206 square fe...
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By David Welch, Real Estate Optimist - #OrlandoRealEstate
(Charles Rutenberg Realty)
Wow, April new contracts are already around 1,600 with a week to go. Total contracts are closing in on 3,000, and closed sales are on track to beat March's numbers too. I cannot wait to see the final numbers this month. The only thing that I see down right now is the median price which is hovering around $215,000. That could change by the end of the month. The total number of homes listed for sale in the Orlando area is up just a little and the number of homes listed as pre-foreclosure, foreclosure or bank owned is up just a tad around 4,360.http://www.orlandoarearealtor.com/
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