Tag: Top Orlando Realtors

Outer Edges of Orlando Enjoys Strongest Recovery in Home Prices

Posted on by Jenny Zamora

Residential property prices at the edge of central Orlando have revived the most, according to listing agents in Orlando. Pockets of growth are being seen in Paisley, Montverde, and Eustis. All three come under Lake County and have exhibited price gains of up to 30 percent since February 2013. A few localities of St. Cloud and rural regions of the southern part of Osceola County also showed an uptick in prices.

Maximum gains in a few areas

The total increase in value of all the four counties in the metropolitan area of Orlando was 20 percent in the same period. Lawrence Bellido, an agent of Keller Williams, one of Orlando’s real estate companies, said that the above-mentioned areas are showing the maximum recovery since they were hit the hardest. He specifically mentioned Montverde’s Bella Collina and Harmony, where not a single property was sold at one point in time.

Gains not equal

Orlando has exhibited unequal gains in price when one community is compared with another. To give an example, the growth areas located in the southern borders of St. Cloud have exhibited gains of approximately 30 percent in 2013. In contrast, prices have risen only half of that number in older localities of St. Cloud, where a few homes were constructed in the 1920s.

Similarly, older localities of Kissimmee, Oviedo, and Casselberry saw an appreciation in price by approximately 15 percent in 2013. The numbers reveal an excellent recovery by a majority of standards but are still trailing behind the region’s other parts. Prices in Apopka and Mount Dora areas escalated by 11 percent. In contrast, home values in the Winter Park locality rose 8 percent in the same period.

Foreclosures

A possible reason for prices getting increased quicker in a few neighborhoods might be foreclosures. The foreclosure phenomena hit hardest in areas that are newly developed as the house owners in 2007 had negligible or no home equity. These owners were more prone to enduring short sales. Lenders incur short sales when they give their assent to sales prices that are lower than the mortgage. Values plunged to the maximum in these foreclosure-scarred neighborhoods, so they bounce-backed quite rapidly.

According to Mike Timmeran, President, MJT Realty Economic Advisers, the markets where prices rose the most were also those that fell severely. Buyers, however, can be very confused about these wide swings, presently. It will be very difficult for them to assess the correct market value of a property.

 

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How To Find The Best Realtor In Your Area

Posted on by Jenny Zamora

Finding the best realtor locally doesn’t have to be confusing. Here are some tips to help you find the best real estate broker in your area.


Firstly, jumping in the car and touring the area can be a great indication of the best realtors in the area. Check out the houses that are for sale and who they are listed with. This is a great way to find the most popular local real estate brokerages in the area.

After finding the most popular companies, you can then take your research further online.

Every realtor should have a web presence this will help you find out more about their company background, the properties they list, the areas they work in, and ultimately any ratings and reviews they have online.

Be sure to check out independent review sites where possible to get a more rounded look at the brokerage you have your eye on. All realtors will generally be open to sitting down and discussing your needs before you have decided on the company you want to help list sell your property.

Most realtors will be more than happy to offer help and advice should you need it so don’t be afraid of picking up the phone and discussing the different options available to you.

Selling your property should be stress-free and finding the right realtor for you doesn’t have to be confusing.


Just be sure to do your research well and ask questions.


For more help and advice on selling your property give us a call at 407-902-7750 or check out our website at https://orlandorealtyconsultants.com/ in more detail to find out more about what we can do for you.


How To Find The Best Realtor 407-902-7750

 

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Orlando Realtors Expect More Buyer Activity in the Summer

Posted on by Jenny Zamora

According to a new industry report, sales of existing homes in the US, in the month of May, have been higher than previously anticipated. The nationwide phenomenon was confirmed by realtors from most of America’s big property markets leaving the real estate industry musing on better Summer prospects.

And why not? The sale of previously owned houses rose by 1.3 percent in May – marking the very first hike in 2014. On a per-year basis, sales of previously owned properties rose to 4.65 million nationwide. Further, the number of residential properties available for sale reached levels it hadn’t touched for nearly two years now.

The Orlando real estate market is not untouched by nationwide progress

The prospects couldn’t have been better for the Orlando real estate market too. According to some of the top listing agents in Orlando, prices of residential properties in Orlando have slowed down due to increased inventory. More properties were listed in the month of April, affordability improved in the process – allowing more citizens to become homeowners.

Nation-wide, 2.29 million homes were listed in April, depicting a rise of 16.8 percent and the highest levels since August 2012. Availability is typically viewed as a dependable indicator of future sales. Bigger inventory, more listings, and improved availability suggest more sales activity in the coming months, listing agents explain.

2.29 million homes, for example, would take close to six months to sell at the current pace. When the inventory accounts for under five months of sales, the market is considered to be tight.

The spectrum of the real estate market is not all rosy but certainly better

Realtors are banking on sustained gains in employment, to increase consumer confidence and boost housing. According to 75 economists, who were surveyed by market analyst Bloomberg, sales of previously owned homes are expected to maintain a pace of 4.69 million. In March, the median pace was 4.59 – the weakest in two years.

Orlando real estate agents also confirm another national observation made in the report – the strong influence of investors. Investors bought up condominiums in large numbers, fueling the April hike in sales.

And while the housing market still has a long way to go before hitting its stride, things are definitely improving. Compared to the sales closed in 2013, sales in 2014 were down by 7.3 percent. Further, many top Orlando realtors reveal that not many first-time buyers have been a part of the increased sales activities. There’s reason to remain hopeful however as the turnaround, though slow, is happening for sure.

 

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More People Sign Contracts as Orlando Real Estate Picks Up

Posted on by Jenny Zamora

The summer buying season is traditionally associated with increased customer activity across the nation and 2014’s season was expected to be no different. Orlando Realtors overall have spoken of more and more prospective buyers in Orlando making offers on listed properties since the beginning of the buying season. We now have records that reaffirm their claims.

A new industry report cites that the number of U.S. buyers signing contracts to purchase property increased in May 2014. The hike signals an increased likelihood of the housing market picking up soon, following the early months of sluggish business. Some Orlando real estate agents familiar with the rise, credit an additional distinction to the event – an increased number of signed contracts has been seen for the first time since June 2013!

Significant rise in the index of pending sales

The indicator of pending residential real estate sales rose 3.4 percent in May 2014 with the seasonally adjusted value standing at 97.4 at the end of the month. The index of pending sales still remains 7.9 percent behind the corresponding value in the May of 2013. The 3.4 percent increase, however, does mark the first time, buying activity increased in close to nine months.

A gap of a month or two exists between the signing of a contract and the completion of sales. But the real estate industry considers pending sales to be a reliable indicator of future purchases. Further, with the economy improving and banks becoming more lenient in their mortgage-lending drills, more Americans are expected to sign contracts.

Sales of older homes, however, fell to their lowest levels since the July of 2012. In a period spanning eight months, sales of older homes fell seven times in a row. The numerical value of the dip was rather low. There exist some market specialists and real estate agents in Orlando however who hold that the sale of existing homes may have just reached the floor level.

US Housing market recovering from the relatively inactive winters

Economists and market watchers had previously made a forecast of weak sales and new housing constructs, largely due to the sluggish sales in the first two months of 2014. The nine-month increase in the number of pending sales comes as a heartening sign – not only for realtors but also for home buyers and sellers.

The May increase does reflect a partial recovery from the sluggish winters at the least. All over the U.S., sub-zero temperatures, snowstorms, and uninviting weather, in general, kept potential buyers from exploring new properties. The first two months of 2014 too, as a result, experienced very little or no activity from prospects. Further, for most of the second half of 2013, prices of houses went high due to a finite availability of homes.

The summer buying season is, however, marked by an increase in inventory and increased buyer activity. A good time to make an offer, realtors say.

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SunRail Fuels Housing Development in Central Florida

Posted on by Jenny Zamora

More than 3600 housing projects get underway

In the month of May, we saw the $1.3 billion SunRail commuter system run its first lap and if the first couple of days of service is any indication, the new commuter rail system is going to be a Central-Florida favorite! With close to 10,000 commuters onboard each day, in the first few days, the ride exceeded expected traffic (average of 4,300 commuters a day) by epic proportions.

While a lot of it could be all the buzz about the new inauguration or the free rides that SunRail has been providing since Day 1, market watchers believe there is more to the enthusiasm than just the attraction of the new system. Local businesses, jobs, construction activity, and real-estate activity are expected to surge around the 12 stations and their neighborhoods.

Realtors In Orlando Eye Transit-Oriented Development

Transit-Oriented Development, popularly known as TOD is expected to dominate Central Florida and become the key driver of the Orlando real estate and construction industry. Enthusiasm can be seen in the market as Central Florida moves towards being deemed as a “rail city of North America” and Orlando realtors couldn’t be happier. Why?

Because TODs are associated with increased buying and selling activity. Between 2016 to 2018, industry hubs and TOD districts are going to spring up in large numbers but real estate agents will be able to see increased activity much before that, in the form of anticipatory purchases and real estate investments.

Neighborhoods around transit systems are typically good places to live and work. Savvy real estate buyers begin purchasing properties in advance – a decision that makes good financial sense since prices shoot up once the neighborhoods develop into hubs in full swing.

Does it mean it’s a good time for investors and first-time buyers to consider buying a property? According to most industry watchers, it is. Central Florida also has a lot underway for residential and commercial buyers, as well as local businesses and job-seekers.

Orlando home buyers to be served with a host of new opportunities

14 new construction starts, worth a total of $785 million are up and coming within a ten-minute walk from the 12 SunRail stations of the first phase. According to listing agents in Orlando, these include 1,150 residential units that Orlando buyers have already started investigating.

Further work on another 13 projects worth $765 million in total is expected to begin soon, including the construction of 2,680 residential units. Industry insiders suggest interested parties or first-time buyers who have been waiting for an opportunity to invest to begin contacting realtors since the units are expected to get sold fast.

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