Short sales and REO properties in Orlando were once a big ugly stain on the real estate market reminding us all of the horrific market crash of 2007.
Savvy investors cleaned up as they bought properties left and right at massive discounts keeping them as rental properties or flipping them for a quick profit.
At one point in 2009 short sales and REO property sales accounted for more than 60% of all residential real estate sales in Orlando.
Since then however, the real estate market has made what many Orlando Realtors would consider a full recovery. Homes have been going up in value and new construction is once again in full swing throughout many areas of Central Florida. In the past couple of years, Orlando’s short sales have accounted for less than ten percent of residential real estate sales.
It’s become evident to us in the last quarter of 2015 that REO and short sale properties in Orlando are not at all a passing fad…not by a long shot. We’re only in the third week of 2016 and our company ORC has picked up 6 new short sale files!
Although it’s way too early in the year to check exact home sale statistics through the MLS, it’s obvious to us that short sales are once again on the rise.
Disclaimer: On this site, we only write about and discuss things that are happening or have happened within our own company, ORC. It’s never mattered to us what people are saying in the news or in local Orlando real estate forums because I’ve learned that a lot of information on the internet is inaccurate… what a shocker right!? I believe that someone should only write about what they know about and what they’ve experienced in order to be considered credible.
