Category: Blog

A Strong December in 2020 lifts Orlando Real Estate Market Above Prior Year

Posted on by Jenny Zamora

The Orlando, FL Real estate market ended 2020 pretty much exactly as it began this craziest of years: with a frenzy of home sales in suburban Orlando neighborhoods.

There were 3,672 local Orlando home sales in December. That’s a 21% jump from 3,033 deals in December of 2019, as per the newest information from the Orlando Regional Realtor Association. That solid December execution helped 2020 beat 2019 in overall Orlando home sales…A clear indicator of how nearby home interest has not eased back because of the Covid-19 pandemic.

This has resulted in Orlando Realtors working longer hours and making more commissions, which is great news for real estate agents and real estate professionals overall. The desire for people wanting to buy a house in Orlando has exploded at the end of 2020 and now well into 2021… and right now there are no signs of slowing.

This tremendous increase in Orlando home sales is quite amazing thinking about the vulnerability around the Coronavirus pandemic which made deals drop in the spring. As Orlando home sales grew, so did the prices. The median home price in 2020 was $265,000 when in 2019 it was $243,000.

In 2020, the demand for Orlando homes was partly fueled by the desire for square footage and less-thick living during the COVID-19 pandemic. Furthermore, northeastern purchasers ran to Florida’s less expensive homes, warmer climate, and suburban lifestyle.

2021 Orlando Real Estate On Track to Stay Busy

The huge demand for Orlando real estate is expected to remain strong and even increase in 2021 according to Jenny Zamora, Broker/Owner at Orlando Realty Consultants. The data proves that inventory has drastically decreased since the beginning of 2021. December of 2020 reveals the lowest housing inventory in Orlando we’ve seen in the past 15 years. This creates an extremely competitive situation for potential home buyers.

Zamora is not the only Realtor in Orlando to predict an extremely busy year for the real estate market in Orlando. As previously reported in an article in Realtor.com, stating Orlando home sales jumped over 10% this year so far and is expected to rise an additional 5.8 percent.

The 3 greatest variables that will drive lodging interest in 2021 are young homebuyers, an increase in people being able to work from home, and people wanting to live in the suburbs. One other major factor that’s expected to increase the demand for Orlando real estate is historically low mortgage rates, which are expected to drop even further as 2021 progresses.

Patterns in the residential Orlando real estate market are significant, as each home deal in the state has an expected neighborhood financial effect of $77,858 as per a recent report by the National Association of Realtors. Also, the real estate market in Orlando is viewed as an impression of the general soundness of the neighborhood economy.

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COVID-19 MIGRATES NE POPULATION TO CENTRAL FLORIDA

Posted on by Jenny Zamora

Orlando Real Estate Market is Heating Up


In the latest Market Pulse, ORRA announced that our members partook in 3,634 residential homes sales in October. This is a dramatic increase of 25% from just 1 year ago.

This pattern ends up being valid as sites like Redfin.com detailed that in their second quarter, 22,000 more of their clients looked at moving to Central Florida.

Residents of New York, Texas, North Carolina, North Virginia, and numerous others are running to Florida. Many of which intend to buy a house in Orlando.

An Economic Push for Central Florida

Realtors in Orlando are saying New York’s misfortune is Orlando’s benefit. At the point when the pandemic hit the U.S. in March, telecommuters began leaving New York City and its super costly lodging. They were looking for vast areas, daylight, and moderate living spaces at an affordable cost… all of which you can discover in Orlando, Florida. Larger cities were also the hardest hit by the pandemic,… public lockdowns, and mass loss of employment.

The pattern has just heightened as the pandemic proceeds and individuals feel more sure of their distant work and school plans.
As continuous travelers transform into inhabitants, Orlando Realtors can anticipate that this should fuel the Orlando real estate market in months and even a very long time to come.

Bigger Budgets… Bigger Homes

Since these buyers come with larger budgets, it could push some of them into the mid to luxury price points… homes which they couldn’t afford in their home state.

First Time Home Buyers

For real estate agents in Orlando, this means getting ready for a rush of first-time buyers! Our year-round gorgeous weather, amenities, and affordable Orlando homes will draw thousands of new residents over the next few months… and continue throughout 2021 according to Orlando Real Estate Broker Jenny Zamora.

Research Your Area

Depending on someone’s lifestyle, wants, and needs they would be wise to start by doing some research… even before hiring an Orlando Realtor. For example, if the buyer has kids, they’d probably start by searching good school zones. Or if someone is single and interested in nightlife within walking distance, Downtown Orlando would be a great choice.

Once you’ve done some research on some neighborhoods, it’s time to seek out an Orlando Realtor who specializes in those areas. Your agent should know your desired area like the back of their hand. Once you’ve consulted with your agent, they should let you know just as soon as a home hits the market. Experienced real estate agents will have alerts set up so they can be first in line to schedule a showing.

Line Up Financing


Unless you’re paying cash for the home, you’ll have to get a mortgage. People who are planning to finance a home usually look for a suitable lender by asking for their recommendation. Most mortgage brokers offer the services of lending companies so that borrowers can choose between available mortgage deals. Mortgage brokers do not provide financing but simply advise people on different lenders who may be suitable.

In case they decide on financing their loan through a particular lender, then they will inform the borrowers about all the pros and cons of the deal. They also make it possible for the borrowers to compare the various deals and select one that best suits their requirements.


If you’re a first-time home buyer try going to https://floridahousing.org/ to see what programs you qualify for. Finance Home loans are available at a wide range of rates. The borrower must choose a mortgage loan that suits his requirement and the ability to repay. Mortgage brokers often provide instant online quotes on interest rates and other associated fees. This helps borrowers find out the right interest rate and loan type that suits their requirements. When choosing a mortgage loan, you must research all the pros and cons of the deal.

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Newcomers Affecting Orlando Home Prices

Posted on by Jenny Zamora

Due to COVID-19 real estate prices in Central, FL is rising at a steady rate, according to real estate agents in Orlando. The main reason for this trend is the overwhelming amount of people from other states moving to Orlando every day. Unfortunately, this also affects the affordability for local home buyers.


The main reason for this trend is the overwhelming amount of people from other states moving to Orlando every day. The cost of living in northern states like New Jersey and New York is much higher than in Central Florida. Buying and renting a home is typically a lot more expensive in those states than it is in Florida.

With this steady stream of newcomers moving to Orlando buying and renting becomes more expensive for the locals. This is one of the reasons why home prices continue to rise and inventory remains low.

I recently had a client from New York who was now working remotely due to COVID-19 and he could not believe the home prices per sq ft compared to his home state. This is what he said when I started showing him Orlando homes for sale, “3,000 square foot house for 525k??… this house would cost me 1.5 million in NY!”. He then submitted a cash offer for the full asking price.


As prices rise in real estate, buying a home in Orlando suddenly becomes unaffordable for a lot of people. I believe this increases the demand for rentals which is why we are seeing so many new apartment buildings throughout Orlando. Unfortunately, this also makes traffic worse causing us to spend more time on the road.


I’ve been a Real Estate Broker in Hunter’s Creek since 2005 and I can tell you that traffic has increased to at least 5 times what it was since I’ve lived here. It seems like I spot a new apartment building going up every time I drive down John Young Parkway.


Virtual Tours For Orlando Homes


The use of virtual tours for buying and selling homes in Orlando has been booming since the pandemic. Stay at home orders by the state and public concerns prevented potential home buyers from physically walking through homes. Now more than ever the use of virtual tours is by far the best tool Realtors in Orlando have at their disposal.


Although it’s not quite as good as being there physically… It does provide the buyer with a greater understanding of the home’s location, features, and neighborhood amenities. This increased knowledge creates a more knowledgeable buyer and better seller. A buyer who knows more about a property before they view it in person has a greater likelihood of being a successful buyer


While some Orlando Realtors have embraced virtual reality as a legitimate tool for their business practices, many traditional realtors will discount the value of this emerging marketing strategy. Realtors that are willing to give a more holistic view of a prospective house and the surrounding neighborhood should be a big factor when looking at virtual home tours.


Real estate agents that can see the whole picture of a neighborhood should be considered because they can act as a catalyst for a quick sale or buyer, hold the buyer’s interest longer, and provide a more logical reason for the seller to enter into a contract. The rise in popularity of the virtual reality genre means that any prospective home shopper can experience a house or neighborhood through this medium. A trip to the virtual world of the internet is a compelling, and necessary, component of today’s Orlando real estate market.


COVID-19 A Major contributor To Influx of new residents


The Coronavirus has affected and continues to affect our country in a very negative way. Thousands of businesses have gone under, hundreds of thousands have lost their jobs and it’s not over yet. Even as the vaccines begin to get distributed there seem to be more cases than ever. Unfortunately for many people, recovering from this pandemic to the way things were isn’t very realistic.


Some people were fortunate enough to be able to continue working remotely from their homes, depending on what they do for a living. These people now realize that they no longer have to live near their workplace and are moving to other states. Orlando, FL is mainly known for world-class amusement parks like Disney World, Universal Studios, and too many others to mention. However, many people don’t realize that Orlando is also home to just about every industry imaginable.

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Demand for Orlando Homes in 2021 Rises

Posted on by Jenny Zamora

When someone decides they want to relocate to Orlando, they want to be sure that they are making the right decision for their families and their personal financial needs. Because of the high demand for housing in Orlando, homes are going to sell quickly.

People are interested in buying real estate in Orlando because of the great location of the city, a large number of schools, and course the entertainment and dining options.

People moving to Orlando will find many job opportunities available in every industry. Many young families make the move because of the great options in public schools and great neighborhoods such as Hunter’s Creek. Hunters Creek Fl was voted the 21st best neighborhood to live in in the US by CNN’s Money magazine.

For the past several years, Central Florida has been on the fast track to becoming one of the most desired places to live in the US. Whether you’re single looking for City life or looking to buy a home and raise your family, you’ll find that there are plenty of great homes and neighborhoods to choose from.

The City of Orlando has many older neighborhoods that offer the romance and charm many young couples seek. The proximity of the downtown area means that you’re just steps away from great options in dining and entertainment and fantastic city views.

If you have kids, you’ll enjoy being near Walt Disney World, and a whole bunch of other theme and amusement parks of which are too many to name. There is never a shortage of things to do when you live in the “City Beautiful”.

This creates a huge demand for housing in the Orlando area. To meet this growing need for housing, Realtors in Orlando is as competitive as ever trying to secure a home for their potential buyers and getting top dollar for real estate listings. The Orlando real estate market has been performing so well compared to other cities around the country people are moving to.

Now, if you were looking for a bargain in Orlando homes, you won’t have as good of a selection. But, if you have an experienced Orlando Realtor helping you, you could still find some great deals on single-family homes. Because the demand for homes in Orlando is very high at this time, new home builders aren’t offering many incentives as they would in a buyer’s market.

If you are a first-time homebuyer, you may want to start by looking into the Orlando real estate listings. You can do this by having your Orlando real estate agent send you the most current MLS Listings. You have to be ready to move quickly once you find what you’re looking for.

Right now, the top home types for those looking to purchase a home in Orlando are Single Family Homes, Townhomes, Condos, Mobile Homes, and duplexes. The Orlando MLS Listings shows that the inventory of single-family homes is slightly above the demand. Condos and mobile homes are lower in demand right now, but still higher than the inventory. Townhomes are the lowest in demand and the highest in inventory right now. The low inventory is good news for buyers because there are so few of these home types for sale.

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Will The Orlando Real Estate Market Experience A Boom Post COVID-19?

Posted on by Jenny Zamora

Orlando, FL is a very popular city— and in a post-COVID-19 world, some home buyers may also see it as a great place to find a bargain.

Ever since the Coronavirus became a serious problem at the beginning of 2020, it’s had a dramatic effect on the country’s housing markets. The digitization of the home buying process made it easier for people to buy homes sight unseen, other than virtual tours.

Because many people shifted to working remotely, they were able to relocate to a different city. Many wealthier Americans even purchased 2nd homes in vacation towns just so they could wait out the pandemic.

As Americans are now starting to receive the 1st doses of the COVID-19 vaccines, it appears there’s an end to the pandemic insight. But just as COVID helped to fuel demand with home buyers, the return to normal life may have a dramatic effect in certain cities. It’s hard to predict which cities will experience a boom and which ones will suffer. One thing’s for sure… not all real estate markets will benefit equally from the end of the Coronavirus era.

Recently… the NAR [National Association of Realtors], compiled a list of the top ten real estate markets they expect to thrive in after COVID 19. Their list had places like Phoenix, Dallas, and Atlanta for example.


It was surprising to some Orlando real estate agents to see places like Des Moines, Iowa, and Madison Wisconsin on that list… and not Orlando. Realtors in Orlando, FL have very different opinions about how our local real estate market will look Post COVID-19.

Some feel that Orlando will experience a housing boom following COVID-19. Although Orlando is mostly known for parks and attractions, the Orlando real estate market remained strong despite pandemic forced shutdowns for much of 2020.

The reason for this is the diversity in employment, although many assume it’s mostly tourism-related jobs.

People in Central Florida and surrounding areas are, for the most part, still working which is fueling home sales in Orlando. The same holds for the city of Houston. Although the petroleum industry is a major employer, the City’s workforce was diverse enough to weather the COVID-19 storm.

Will Expiring Forbearance Agreements affect The Orlando RE Market

Some Realtors in Orlando believe that expiring mortgage forbearances will hurt the market. Many people are still in the term of their mortgage forbearance. Once the forbearance is over some Orlando homeowners will inevitably fall into foreclosure.

The question is… how many?? We’ve never seen such a high unemployment rate in our country and it’s uncertain how many people will return to how things were before COVID-19.

Many real estate professionals believe there will be a wave of foreclosures and Orlando short sales in 2021… We’ll have to wait and see.

In our current environment, the record low mortgage rates are creating opportunities even during the pandemic. Although whenever the economy bounces back, you can expect to see mortgage rates rise as well.

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