Monday, November 24, 2014

Real Estate Trends in Orlando and Central Florida

Just three to four years ago, Central Florida’s housing market was deeply rundown, however, now, the home sales volume is experiencing a rise, which is an indication of market recovery. The current situation is ideal for people investing in real estate in Orlando, since the inventory is ample and available in all price ranges. This availability of homes for purchase is helping to meet the unexpressed demand and has driven sales up by 18 percent in October, as reported by the Orlando Regional REALTOR® Association. Additionally, the median price of Orlando homes sold in October has risen by nearly 4 percent since October 2013. This rise can be contributed to the near one-year low mortgage rates. Since June 2013, interest rates have fallen from 4.25 percent to 4.05 percent.

For years, rent prices have surpassed the income growth; as a result, families and individuals had started to combine their incomes in order to share affordable homes. But, now as the economy is improving, the hidden households are releasing and entering the household market. According to recent statistics uncoupling of hidden household in Orlando could increase the number of household by 10.5%.In addition, the young adults moving out of their parents’ house or splitting with roommates to live separately, is also contributing to increased households.

However, there are other reasons that play a role in driving demand nationally. There have been improvements in the consumer attitude and also the labor market has strengthened in recent years. Since the job outlook in the state is steady and the economy is growing, stability and consistency have been noticed in Florida’s housing market.

The growth is seen not just in the household market, but also in the office market. The infrastructure and logistics are improving in Orlando, and office market is bouncing back, resulting in increased real estate development.

Thursday, November 20, 2014

Tis the Season to Buy a House in Orlando

The City Beautiful, Orlando, has always been the place to go with kids for a Theme Park adventure. From all those Kingdoms of Legoland to The Cindrella Castle at Magic Kingdom, Orlando has delivered thousands of smiles to Americans. But now Orlando has something more to offer – an opportunity to own a house!

After seeing a lot of see saw in the recent years, the Real Estate market in Orlando has found the perfect balance between Buyers and Sellers. According to Trulia, the real estate site, the median sales price for homes in Orlando FL from Aug 14 to Nov 14 was $165,000. This represents a decline of 4.9%, or $8,485, compared to the prior quarter, making it the best time to buy a house in Orlando.

At the same time, Zillow predicts this will rise 5.3% within the next year. The average sales prices have appreciated 33.7% over the last 5 years. So if you are looking just to invest or to buy your first home, Orlando real estate has a lot to offer this season. Combine this with the rising employment opportunities due to upcoming Interstate 4 overhaul project, and it becomes a perfect setting for you to have your first home.

Seasons also play an important role when looking to buy a house. And what could be a better time than the Christmas Season!  Home prices are at a 12-month low at this time. Moreover, if a person has their home on the market over Christmas, that person is definitely serious about negotiating and selling that home. You can bet on that.

Most importantly, Americans are most generous during this time of the year. One may receive a reduced price because maybe  the seller's wife says "Hey honey, it's Christmas." Alas, this is a great season for Central Florida real estate, so avoid the lines at the retailers and start looking for your next house.

Friday, December 6, 2013

The Rule of 180 during the Holidays

Here comes Santa Clause….and that big red bag full of stress he totes around.  For adults, the holiday season can wear you down.  Although it may be full of joy, it comes with a price, our sanity.  Let’s try to curb that stress and focus on enjoying the holidays like we all enjoy a pina colada by a pool in Orlando.

The idea of holiday planning at 180 degrees is great!  You basically take what you normally do that causes all the stress and try the opposite.  It does take a bit of thought, but not much time.  For example, a vast majority of Americans wait too long to finish their holiday shopping then find themselves scrambling just to put a bow on something.  Instead, make a list of everyone you want to buy for and try to finish the shopping in November.

How about that traditional holiday food?  Turkey, dressing, mashed potatoes, and pies are boring.  Spice up the holidays by fixing fajitas, prime rib, or even BBQ.  Now that’s a holiday 180.  Don’t forget to plan your new years’ resolution. Start making that change sometime in December.  By the time January 1 gets here, you will already have a head start and built up motivation to finish.

Next time you start seeing ads for the holidays, don’t think about Santa Clause, Think about David Forehand and holiday planning, 180 degrees.