Found 157 entries about Orlando Real Estate Market News.
The May Team Donovan community reports have now been updated and are available from the following link:
Community Report
The April Team Donovan community reports have now been updated and are available from the following link:
Community Report
March 'musings' from the Orlando resort area...
March closings across the resort area resulted in 281 homes changing hands which was 2 less than the March 2015 total but 36 above the 245 February 2016 closings. Overall inventory levels were down 2.1% from last month at 2010 active listings. By type normal owner listings were down 45 month on month at 1912 while short sales fell 2 at 35. Conversely bank owned inventory recorded a rise of 4 homes at 65. Year on year inventory levels have continued to rise with the overall March total up 11.2% from the same month last year. The median price of a resort area home was up 0.5% from last month at $169,893 and up 4.6% from the March 2015 median price of $162,118. The areas average days on market remained…
Are you in the market for an Orlando vacation home? If so, you may have come across a listing on a real estate website like Team Donovan’s that says the home is a bank owned / REO property. REO stands for Real Estate Owned, which means the home has been foreclosed upon and repossessed by the lender (which is typically a bank).
Foreclosure processes vary by state, but the end result is the same. After a bank forecloses on a property, they place the home into their inventory of real estate owned. At this point, federal agencies such as Freddie Mac, Fannie Mae or HUD (Housing of Urban Development), may have to settle with the bank if there was some type of guaranteed loan involved. It doesn’t matter whether these agencies or the bank own the property,…
Are you thinking about buying a second home in Orlando? Many travelers from Canada and the United Kingdom come to Central Florida year after year to spend a relaxing holiday. At some point, it may make more financial sense for you to buy a vacation home in Orlando, rather than spending money on a hotel or vacation rental home. In a previous article, we shared five things you should know before buying an Orlando holiday home. Here are a few more important points to consider before making a purchase.
1. Determine the Financial Stability of the Homeowners’ Association – Many Orlando vacation homes are located in a housing development that is governed by a homeowners’ association (HOA). An HOA makes and enforces rules for the properties in its…
The March Team Donovan community reports have now been updated and are available from the following link:
Community Report
Many people who travel to Orlando, Florida from outside the U.S., such as Canada or the U.K., enjoy their holidays so much, they decide to buy a second home here. If you want to make Central Florida your “home away from home,” there are some important points you need to know before you buy.
1. Decide How to Pay for the Property - Many foreign buyers wind up purchasing a holiday home with cash, since financing can be difficult to obtain. If you plan to finance your purchase with a U.S. bank, expect that a minimum down payment of 30 percent will be required. A U.S. mortgage also generally requires far more paperwork than loans secured in other countries. Another advantage of raising finance outside the U.S. is that your holiday home purchase in…
If you’ve been contemplating whether to buy a second home in Orlando, now is an excellent time to do so. Forbes magazine recently rated Orlando #2 in its list of the best U.S. cities to invest in housing in 2016. While rising housing prices and stagnant wages may dissuade first-time home buyers from entering the market, current economic conditions are excellent for investors who want to put their money into rental properties.
Forbes teamed up with data company Local Market Monitor to compile the Best Buy Cities list. Orlando and the other top cities were cited because they boast healthy job growth, strong population growth, and anticipated home price appreciation.
Housing prices fell sharply in the Orlando area during the recession as would-be…
January 'journal' from the Orlando resort area...
inventory levels throughout the resort area rose 10.3% in January from 1834 active listings in December to 2023 as both 'normal' owner listings and short sales recorded net inventory gains. Normal owner listings increased by 187 month on month to 1911 whilst short sales were up 6 at 41. In contrast bank owned listings fell during January to a revised 71 from 75 in December. The median price of an area home was little changed during the month at $167509 from $167856 in December but does still record a 2.2% increase from the January 2015 area median price of $163750. The average days that a home takes to sell was down by 1 from last month at 131 but higher by 6 from the corresponding month last year.…
The January Team Donovan community reports have now been updated and are available from the following link:
Community Report
