Active Orlando Realty buyers are more frustrated than ever
People that are actively searching for an Orlando property are getting more and more concerned about rising prices on quality Orlando homes and they have every right to be. Inventory is at an all time low while demand is through the roof. Many of them have even decided to put their home buying plans on hold and have elected to remain in their current housing situation.
One of the biggest concerns right now is the lack of inventory in Orlando real estate. Buyers get very frustrated when they find a property that they like only to find that there is already 10 offers on the table for the same property.
In Orlando there is about half as many homes for sale as there was this time last year. Some people still believe that prices will drop and are holding out for that “deal of a lifetime”. Thinking that prices will drop in the near future is just not realistic and is just flat out not true.
The fact is that prices of Orlando real estate will continue to rise for quite a long time. Sure you can still try to get a good deal on a house needing to be refurbished, but in that market you’re competing experienced Orlando real estate investors. Re-habbers make their living on buying properties, fixing them up and selling them for a healthy profit. If you think that competition is tough on the retail side of real estate, try competing with local investors. The wholesale market is just as competitive if not more than buying an Orlando home that is move-in ready.
Orlando homeowners are staying put
For homeowners who were on the fence about selling but really don’t want to, have reconsidered and have decided to remain in their home. They see what’s going on in the Orlando Real estate market and they are loving it. There seems to never be a time when both buyers and sellers are pleased with whatever the market is doing. Sellers will always want top dollar for their home and buyers will always want to get a fantastic deal on a great property. Let’s face it, Who in their right mind would sell right now if they didn’t have to?
Jenny Zamora, Lic Orlando Real Estate Broker
