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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 Jennifer Staubly
(Charles Rutenberg Realty)
Audubon Park is conveniently located about 2 miles from downtown. The community is central to I-4, 408, and 417. It is in the city limits of Orlando. The neighborhood is home to Mitchell Nutter Park and Songbird Park. Lakefront homeowners are able to enjoy Lake Cay Dee, Lake Shannon, and Lake Druid. Homes in the neighborhood are generally built in the 1950's.  They range in size from 2 bed/1 bath and up.  Prices range from the high 100's to over 500,000.  The neighborhood is conveniently located to Fashion Square Mall, Baldwin Park, restaurants, drug stores, gyms, etc. The location is fabulous.
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
If you'd like to read a general overview of the City of Orlando, Orange County, Florida, just take a moment to read this article first, Orlando, Orange County, Florida - The City Beautiful.Orlando is generally known for being a tourist destination and as such we've had basically more of a service-oriented economy for many years.  But as you've read in the previous article, there is more to Orlando than just the theme parks.  Don't get me wrong, they make a great impact on our economy.  Orlando would probably not be where it is today if it were not for Walt Disney World, Universal Orlando Resort and Sea World, the regions 1st, 5th & 14th largest employers, respectively with a total of approximately 74,000 jobs.  Because of Orlando's proximity to Kennedy Space Center, which is only about ...
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The Podvin Development Group (http://www.TheCrestLife.com) annouced today in Orlando that it will host a series of "First Time Home Buyer" seminars at The Crest at Waterford Lakes, its luxury, award winning 276-unit condominium community in East Orlando, which is conveniently located minutes from UCF, Siemens, Lockheed and the Central Florida Research Park and across the street from the Waterford Lakes Town Center, the largest outdoor mall in the U.S."We feel that now is the best time to buy," says Scott L. Podvin, President of the Podvin Development Group. "With the FED lowering the interest rates by three-quarters of one percent earlier in the week and the FOMC set to meet next week at which it is expected that it will once again lower interest rates by at least one-half of one percen...
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By Christopher Myers, Greater Orlando and Central Florida Real Estate
(Orlando Property Group)
Orlando Florida Real Estate - Homes, Townhomes & CondosOrlando Florida Real Estate Market Update - December, 2007Specializing in Orlando Real Estate, Orange County Real Estate and Seminole County Real Estate in FloridaThe current real estate market in Orlando, just like the rest of Central Florida, is a true buyers market.  Inventory is at all time highs and the number of sales each month is way down.  Prices have adjusted, time on market is up and sellers & home builders alike are offering great incentives to buy their homes.  Distressed properties, such as short-sales, bank owned homes and foreclosures are becoming more and more common throughout Orlando.  If you're currently in the market for a new home or investment property, now is the perfect time.  We're seeing many investors and...
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By Marc Grossman, GRI, Greater Orlando Real Estate Broker
(Marc It Sold!)
The City of Orlando, Orange County, Florida is known as The City Beautiful and comprises over 100 square miles.  When people think of Orlando and Central Florida, the first thoughts that probably come to their mind are Walt Disney World, Universal Orlando Resort and Sea World.  But there is so much more to Orlando than just the theme parks and even the other smaller ones such as Wet ‘n Wild, a water park, Gatorland, etc.  Did you know that Orlando is home of the Orange County Convention Center, which is the second largest in square footage in the states.  And that Orlando is only second to Las Vegas in the number of hotel rooms.  There is a lot of community to Orlando from historic areas in downtown Orlando such as Lake Eola Heights and Colonialtown as well as nearby College Park to new...
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By Dennis Handa
(Florida Real Estate Network)
Orlando and Orange County Investment opportunitiesAside from commercial investments the two situations most people are looking for in Florida are:Vacation homes/2nd homes, both single family or Condos that can be rented out.Generally a purchase involves a 1031 tax exchange or just someone looking for a second home in an area that he/she or the family will use occasionally.A home to eventually retire to and rent in the meantime to help pay mortgage costs. Due to the incredible growth in tourism and people relocating to  Orlando, Kissimmee, Sanford and Winter Park,  investments ( both commercial and 2nd family home rental) in these communities should be a strong consideration.As to Orange County-where would the best rentals probably be located? The following is a partial list.·      Orlan...
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By Dennis Handa
(Florida Real Estate Network)
Orlando and Orange County EmploymentOrange County has employment opportunities in a wide range of industries.As new businesses continue to move into the area and existing businesses grow, employment will continue to be on the rise. Orange County has an educated and motivated workforce traditionally functioning in a non-union work environment.The greatest area for potential employment lies in the services industry, which represents approximately 40 percent of all employment. Within the services area, the tourism sector is particularly promising. Two of the three biggest employers comprise theme parks and hotels: the Walt Disney World Resort and Universal Orlando.Health care and retail (stores) also are major employers within the services sector.In addition, several corporate headquarters...
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By Dennis Handa
(Florida Real Estate Network)
Another word about the diverse recreational options outdoors: to the North is the Ocala National Forest and Lake Woodruff National Wildlife Refuge, with hiking, paddleboating, and birding. All of the Lake Country that was part of the 19th century Steamboat Era lies just to the North, and the great Citrus Ridge area lies just to the South. To the East are the great Atlantic beaches at Daytona, New Smyrna, and Cocoa Beach, not to mention Cape Canaveral National Seashore. Also East, in the Mosquito Lagoon, the Indian and Banana Rivers, and of course any number of fresh-water lakes one finds myriad opportunities for boating, fishing, and exploring.And last but not least, the cost of living in Orlando is below the national average, and compared to other areas of the United States it’s way be...
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By Dennis Handa
(Florida Real Estate Network)
When the name Orlando is mentioned we always think about Disney and theme parks. And these were the economic engines that drove Orlando’s growth for a quarter century.But today’s Orlando is much, much more than that.It is a diverse community, with great neighborhoods and excelent educational and health systems that manage to serve this rapidly changing community and still compete with the best in the country. Orlando-Orange County and adjacent sections of other Central Florida counties are home to a number of colleges and universities which over time are helping transform this area into a center of higher education. Seminole, Volusia, LakeBuilt around literally hundreds of lakes, Orlando is also an extraordinarily beautiful city.  As Orlando has grown, it has enclosed old Orange County ...
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By Dawn Pratt, East Orlando Real Estate
Avalon Park Home Sales for December 2007AddressListing PriceSold DateSold Price3835 Cleary Way168,00012/21175,0002204 Glossy Privet Dr.194,90012/04188,0003936 Cleary Way218,00012/11200,0004031 Alcott Cir.247,90012/27255,50014530 Cheever St.266,90012/28266,90012215 Lake Live Oak Dr.266,90012/28245,0002817 Silver River Trl.274,00012/07276,0002213 Three Rivers Dr.336,05812/14324,00014469 Salinger Rd.359,77712/14339,00014737 Tanja King Blvd.439,99012/03410,0002209 Wild Tamarind Blvd.595,00012/31585,0002221 Wild Tamarind Blvd.600,00012/21549,000        For more information concerning the East Orlando Areas of Waterford Lakes and Avalon Park, please Email me at: Orlando Real Estate Agent or vist my Blog at: East Orlando Real Estate and Current EventsDawn Pratt, REALTOR
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By Scott Podvin
(Florida Homestead Law Group)
The Crest at Waterford Lakes (http://www.TheCrestLife.com), Orlando's premier condominium community, announced today that the rent on its two bedroom, two bath luxury condominium homes is only $1,000 per month.  The Crest is conveniently located minutes from UCF (http://www.ucf.edu), the nation's sixth largest University, and is across the street from the Waterford Lakes Town Center, the largest outdoor mall in the U.S.This offer won't last long so call today for more information (407) 737-4442.   To learn more about this incredible community, visit our website at www.TheCrestLife.com.  
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By Drew Peterson
(Keller Williams Advantage II Realty)
We'd like to thank those of you who sent us responses to our last blog, "Finding The Bottom: An Open Discussion". As promised, we will present our alternate theory in this blog. First, however, a quick recap.In "Finding The Bottom: An Open Discussion", we discussed a theory of when and how the real estate market in Orlando would bottom out. To simplify, investors will ultimately have to step in and purchase the excess inventory. In order for this to make financial sense, prices in Orlando need to decline to the point that these investors can cover their expenses by leasing the property.The basis of the investor theory is essentially correct. Inventory will have to be absorbed before we can reasonably expect prices to bottom out. However, while the theory is intriguing, it ignores severa...
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By Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
Here is an example (see picture) of what needs to be written for most advertising in Central Florida rather than "100%" Financing Available.  With the "declining markets" here in Orange and Seminole counties (and MANY, MANY other counties in Florida--yesterday I heard that Sumter county was the ONLY county in Florida that's not considered a declining market--OUCH!), there are very few 100% financing loans out there.  But they ARE available for certain properties and for certain Buyers--but your typical, non-first-time Buyer will NOT be able to get 100% financing for the most part.  There!!  I said it.    Let me start off by saying the I'm a real estate agent and I do NOT do loans.  But I have to know enough about loans to sell real estate.  Kind of a catch-22.  So, I basically know enou...
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By Judy Chapman
(Referral Network of Illinois LLC)
Levitt and Sons received permission from the U.S. Bankruptcy Court to borrow up to $3.5 million from Wachovia Bank in order to finish building homes for which it has made commitments and taken deposits. Levitt filed for Chapter 11 bankruptcy protection last November, citing assets of $411 million and liabilities of $499 million. The bankruptcy left several hundred families with unfinished homes that they had already purchased and substantially paid for. Last November, the Orlando Sentinel reported that several hundred families throughout Central Florida purchased lots and homes in subdivisions that remain unfinished. This action should ease the minds of many panicky homeowners who left deposits and hopes on the bargaining table. Now, at least, they will get their homes completed. Other ...
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By Judy Chapman
(Referral Network of Illinois LLC)
According to the Orlando Regional Realtor® Association, the median price of a home dropped in December 2007 from $235,000 to $223,900, which brought the affordability index back to 100%, actually 100.3%. The median price of a home a year ago was $250,000. With this decrease of median price and the improvement of the affordability index, buyers who earn the median income as reported by the state ($51,335) can now afford to purchase a median-priced home. Good news for first-time buyers trying to get into their first home. According to ORRA, "A decrease in the median sales price has spurred the area’s housing affordability index to reach 100 percent, which along with a reduction in inventory by nearly 2,000 homes indicates a swing toward stabilization of Orlando’s current buyer-favoring ho...
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By Dawn Pratt, East Orlando Real Estate
UPDATE--------- THE MEETING HAS BEEN CANCELED BECAUSE THE BUYER HAS BACKED OUT. EMAIL ME IF YOU WOULD LIKE MORE DETAILED INFORMATION- DAWN PRATT, ORLANDO REAL ESTATE AGENT Let your voice be heard! Thursday, January 31st at 6:30pm, a public hearing will be held to discuss zoning issues for land parcel N-19. The hearing will be held at Waterford Lakes Elementary School.Parcel N-19 is roughly 20 acres of land located in Waterford Lakes, off of Lake Underhill Rd., just east of the Waterford Chase Pkwy. and Lake Underhill Rd. intersection. Orange County Schools is selling the land back to Waterford Property Holdings, Inc. and the land must be re-zoned. The Orange County Commissioners will soon be voting on how this land will be used. Please take action- if not for you, then please do it for ...
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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”, 21% of homes were purchased by single women last year. The statistics showed a sharp contrast between single women and single men, where women purchased homes two-to-one over men. According to Fannie Mae, the number of women heading households with no spouse will increase to 31 million by the year 2010. Not too surprising when the women of today are better educated and more self-reliant than their mothers and grandmothers. Add to that the influence women have in the decision-making of purchasing a home when couples buy together, and anyone can see the importance of catering to their whims and preferences. Homebuilders take heed. The way to a home sale is through the discriminati...
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By Lisa Spalding, REALTOR, CDPE
(Casa Latino Four Corners, REALTOR, CDPE)
  FREE REPORT!How To Buy A Lovely HomeIn Orlando With Zero Down or Low Down Payment Click here:        www.OrlandoAreaPropertySource.com Did you know about the special financing that Orange County has for first-time homebuyers?  How about the loan assistance money available for certain career professions such as nurses, teachers, firefighters?You may be thinking about buying or selling a house right now but we think about and handle real estate transactions all the time; it's our focus!   On your team,www.WinterParkHomeFinder.com          
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Scott L. Podvin, President of Podvin Development Group plans to build a smart growth, LEED Certified mixed-use community in East Orlando.  In support of his decision to adhere to the smart growth principles Podvin cites to many studies that show the environmental benfits of smart growth.  "Development guided by smart growth principles can minimize air and water pollution, enourage brownfields clean-up and reuse, and preserve natural lands," Podvin says.Smart Growth pracitcies can lessen the environmental impacts of development with techniques that include compact development, reduced impervious surfaces and improved water detention, safeguarding environmentally sensitive areas, mixing of land uses (e.g., homes, shops, hotels and offices), transit accessibility, and better pedestrian and...
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By Judy Chapman
(Referral Network of Illinois LLC)
Fishkind & Associates released their 2008 Real Estate Forecast, which was commissioned by the Florida-based Attorneys’ Title Insurance Fund’s Consumer Education Campaign. Collecting data from several Florida counties, the report came to several interesting, even positive conclusions, regarding the future of Florida’s, and in particular Orlando’s, real estate market. As we all know, the real estate market in Florida slowed in 2007. But what was interesting in the report is that sales flattened out in the spring of 2007, BEFORE the subprime mortgage crisis hit in August. According to the Fishkind Forecast, the Florida real estate market was knocked down another 10%. In Orlando, however, monthly sales took a 33% hit, this according to statistics put out by Orlando Regional Realtor® Associa...
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