Real Estate Information | Page #15

Real Estate Information

***Published on 1st August 2017***
July 'journal' From The Resort Area...   Total resort area inventory was down 23.2% year on year at 1603 listings which was also 6.3% lower than June 2017. Julys total comprised 1543 normal owner listings, down from 1896 in  July 2016. Year on year bank owned listings were down 11 at 37 whilst short sales were down by 8 from last year at 23. The average days that a home took to sell was down 6 from July last year at 130 which was also 1 less than last month while the average sold home achieved 97.1% of the final asking price. The resort area median price of $191,062 represented a 9.2% increase from the median July price of last year.  July 2017 saw total sales of 390 which was 8 closings higher than June…

Orlando is a popular area for real estate investors who want rental income because it’s one of the top U.S. tourist destinations and the theme park capital of the world, thanks to Walt Disney World, Universal Orlando, and Sea World. More and more holiday travelers are opting to rent vacation homes instead of staying in hotels because they are less expensive, and you often get just as good, if not better, amenities. 

The area is a popular draw for investors from overseas, especially the U.K. But buying a property from such a great distance can be challenging, especially if you’re attempting to do it on your own. If you make a decision solely on price, for instance, you may find yourself in big trouble. Orlando has many excellent areas for rentals and…

British investors who want to buy homes in Florida typically favor Orlando because visitors come here from around the globe to enjoy world-class theme parks, sports, music and convention venues.  Tourist appeal, as well as recent builder constraint and job growth, even prompted Forbes magazine to rate Orlando the nation’s 3rd best city to buy housing in 2017.

Most UK investors purchase properties in areas like Kissimmee and Celebration, since these communities are so close to Disney World. But some savvy buyers have discovered that they can find better deals on homes in nearby Davenport.   

This charming community offers British buyers just what they’re looking for: fun in the sun, and rental returns at a great price in a location that’s not too far…

***Published on 1st July 2017***   June 'journal' From The Resort Area...   Resort area median prices were 9.5% up year on year to a revised $190,007 from the 173,461 median price of June 2016 with total inventory down 8.7% at 1956 listings last June to 1705 last month. By type last months inventory comprised 1,650 normal owner listings which was down from 1,885 in June 2016. Short sales comprised 21 of the total listings, down 7, while bank owned properties of 34 were down from 43. The average days on market that a home took to sell was unchanged from last month at 131 but 3 less than the 134 seen in June 2016.  Homes that closed achieved an average 97.2% of the listing price up from 97.1% last month and the 97% level being achieved a year…

Orlando is probably one of the top vacation rental home markets in the U.S., if not the world. People come from all over the globe to visit Walt Disney World, Universal Orlando, and Sea World. With the theme parks offering substantial savings the more days you visit, many families spend at least one week or more when they come here on holiday.

That’s why vacation home rentals are so popular. A private home offers more space, and sometimes just as many amenities as a hotel. And vacation home rentals are more affordable than hotels too.

Since there are so many vacation homes available for short-term rental in Orlando, you may have to get creative in order to make your home stand out from the competition. Here are a few suggestions to ensure that…

The June Team Donovan community reports have now been updated and are available from the following link:

                                                                                Community Reports

Summer is a popular time of year to sell homes because families like to move while their children are out of school. Because demand is high, you can typically get a higher price for your Orlando home than you would at other times of the year. But coming up with the right price that both you – the seller, and your buyer can agree on – that’s the challenge, isn’t it?

If you list your home for too high a price, it could languish on the market for weeks and still not get any nibbles. If you price it too low, you could spark a bidding war, which would bring you the money you need. But a more likely scenario is that you end up leaving money on the table.

No matter how much you think your home is worth, the buyer is the one who will ultimately decide the…

A growing number of UK investors are investing in Central Florida vacation homes. The area offers beautiful weather, world-class theme parks, golfing, recreation, and other features that have made it a popular destination for visitors from around the globe.

Investing in Orlando vacation homes lets UK investors take advantage of low property prices and earn additional income through property rentals. 

Why Invest in Orlando 

Choosing the right location is essential to investing in a vacation home. Orlando has all of the characteristics of an ideal investment location. 

Orlando’s population continues to grow and has strengthened the local economy. The area near Disney offers beautiful neighborhoods that allow short-term rentals, so you can…

***Published on 1st June 2017***   May  'math' From The Resort Area...   The resort area overall inventory was down 8.9% from 12 months ago as May total listings stood at 1794 compared to the 1955 in May 2016. By type normal owner listings totaled 1736 which compared to 1880 in May 2016. Bank owned homes comprised 36 of the total inventory while short sales comprised 22 which compared to the  41 and 34 respectively recorded in May 2016. The average number of days that a home took to sell increased by 1 from a year ago to 131 while a sold home achieved an average 97.1% of its listed price, up from the 96.6% a year ago. The average median price of an area home was up 10.4% year on year from $171,750 to $189,644. Total sales in May were 401 which…

So you’ve decided to buy a second home in Orlando. Congratulations! If you plan to finance your holiday home purchase, you should be careful about what you do between the time your loan is approved, and you actually close on the purchase. 

Lenders have been known to rescind a loan offer shortly before the scheduled closing if the buyer makes one of the following missteps: 

1. Making a big purchase – Buying property is a big enough transaction. Don’t spoil the chances of your loan going through by purchasing any other items such as a new car or furniture for that vacation home. A big purchase (especially one you plan to finance!) can change a buyer’s debt-to-income ratio. That ratio is what the lender used to approve the home loan. Save those…