by Steve Silcock | Nov 8, 2013 | Property for Sale in Orlando, Real Estate News
If you are considering buying a property in Florida now is a great time to make that decision. Throughout this year we have seen considerably higher enquiry levels from people considering buying a property in Florida and this is backed up by the most recent data from the Florida Association of Realtors.
ORLANDO, Fla. – Nov. 6, 2013 – Florida’s housing market continued to improve in third quarter 2013 with more closed sales, higher median prices, more pending sales and a stabilizing supply of homes for sale compared to the same quarter in 2012, according to the latest housing data released by Florida Realtors®.
“Data from the third quarter of 2013 shows that Florida’s housing market continues to grow and gain strength,” said 2013 Florida Realtors President Dean Asher, broker-owner with Don Asher & Associates Inc. in Orlando. “The housing sector is vital to the state’s economy, and Realtors across the state are reporting increased activity in their markets.
“At 7.0 percent, Florida currently has a lower unemployment rate than the nation, according to the August unemployment figures (the latest state data available.) More jobs will provide more stability for future growth in the state’s housing market and overall economy.”
Statewide closed sales of existing single-family homes totaled 60,661 in 3Q 2013, up 17.3 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Closed sales typically occur 30 to 90 days after sales contracts are written.
Meanwhile, pending sales – contracts signed but not yet completed or closed – for existing single-family homes rose 17.9 percent in the third quarter compared to the same period last year. The statewide median sales price for single-family existing homes in 3Q 2013 was $175,000, up 18.6 percent from the same quarter a year ago. The median is the midpoint; half the homes sold for more, half for less.
Looking at Florida’s year-to-year comparison for sales of townhouse-condos, a total of 27,200 units sold statewide in the third quarter, up 11.3 percent from the same three-month period in 2012. Pending sales for townhouse-condos in 3Q 2013 increased 12.4 percent compared to a year ago, while the statewide median for townhouse-condo properties was $130,000, up 23.8 percent over the same quarter last year.
In 3Q 2013, the median days on market (the midpoint of the number of days it took for a property to sell that month) was 48 days for single-family homes and 54 days for townhouse-condo properties.
“What’s remarkable for the third quarter data is that all metro areas in Florida show year-over-year increases in both prices and sales for single-family homes, and year-over-year increases in sales for condo-townhome properties,” says Florida Realtors Chief Economist Dr. John Tuccillo. “Inventories have begun to pick up a little bit, which may be consistent with cash sales declining as a percentage of overall sales. We’re alert to the fact that it may signal a trend, which could be good for the long-term stabilization and health of Florida’s housing market.”
All of the traditional markets I this area – Vacation, Investment, Retirement, Residential – are very active so for those of you considering buying a property in Florida NOW is the time.
by Steve Silcock | Oct 16, 2013 | Homes, Villas and Condos, Investment Property in Florida, New Construction, Property for Sale in Orlando
Following the successful launch of Waterstone Villas, the developer has already sold out of the Marbella 4 inventory homes. This is a final opportunity to pick up a luxury town home for less than $150,000! plus $6,000 back at closing.
These introductory prices and incentives only apply to limited inventory homes. Extra incentives available for closings before 15th December 2013. Zoned for both long and short term rentals with positive R.O.I. achievable both on the short-term or long-term rental plan.
by Steve Silcock | Sep 27, 2013 | Investment Property in Florida, Long Term Rental, Testimonials
If you are looking for a Property Manager to take care of your long term rental property in Clermont Florida then your search is over. Serving the Four Corners area of Central Florida we have a dedicated team or property management professionals who are committed to serving the needs of tenants and long term rental owners in Davenport Clermont, Kissimmee and Haines City.
But don’t take our word for it, here’ a comment from one of our newest clients
Hi Tim
I hope all is well with you guys at Bardell …
Just a quick note, may I say how pleased I have been with the professional approach from Bardell … a refreshing place for me to be after many years of biting nails !!
Simon M – United Kingdom
Owner in Greater Groves
If you are already long term renting your property or considering moving from short term to long term rental please contact us before you make any decisions.
by Steve Silcock | Sep 26, 2013 | Homes, Villas and Condos, Local Events, Property for Sale in Orlando, Real Estate News
Orlando housing market is booming – 5th in the Nation !!
Orlando is internationally known as the theme park capital of the world and demand for vacation homes in popular short-term rental resorts such as Champions Gate, Solterra and Providence continue to increase as the housing market continues to boom. However, as a recent report indicates residential Orlando housing market is also booming as demand for quality schools are leading skilled workers to relocate to Central Florida.
Sure, the weather’s great and we’ve got plenty of activities for princesses and wizards, but economic development officials and professionals often speak highly of Central Florida’s schools.
And now, a new ZipRealty report puts the Orlando Housing Market at No. 5 in the U.S. among the top 10 “booming” real estate markets with the best public schools.
Top schools are typically a key factor that skilled workers look for in relocating to a particular market, and can be used as a recruitment tool by companies.
The metro areas were named to the list based on growth in median home prices as of mid-August 2013, while the schools were ranked based on top School Score − ZipRealty’s measure of the performance of each school district on a scale of 1 to 10, with 10 being the highest.
Metro Orlando notched a 26 percent jump in year-over-year median home values at $144,900, and Seminole County Public Schools notched a score of 7.8, the highest in the metro area.
The increase in demand for homes has pushed up the price of properties in Central Florida enabling many home owners to sell their property after years of being under water with their mortgage. Demand for long-term rental homes is also high as people continue to relocate to Central Florida.
Source: Orlando Business Journal
by Steve Silcock | Sep 26, 2013 | Homes, Villas and Condos, Investment Property in Florida, Property for Sale in Orlando, Real Estate News
Considering buying investment property in Orlando ? Buyers are no longer in control as demand is exceeding supply for well priced real estate. We work with many investors who are out of state or overseas looking to buy vacation / investment property in Orlando and we spend a lot of time educating our clients on market conditions.
For those of you looking to gain a quick overview of the changes in our market here are 5 things to consider when purchasing investment property in Orlando.
Lowball offers:
As inventory levels drop the chance of getting a seller to accept your lowball offer is minimal. As demand exceeds supply of quality homes buyers are no longer in control and sellers have more negotiation power than they’ve had since the real estate bubble burst. Typically, lowball offers that aren’t in line with comparable sales data are increasingly proving to be a waste of time and can turn off the seller and close down any chance of negotiations.
Get pre-approved:
Gone are the days when people would take your word that your credit was good and you were able to get financing. Nowadays, most sellers will only consider offers with a proof of funds (cash purchase) or a Pre Qualification letter (if your are taking a mortgage) so ensure you get yourself in a position to buy prior to arranging your trip to purchase property in Orlando, Florida.
Get realistic about the market:
All markets are different and what you are experienceing at home may be very different when you are looking to purchase property in Orlando. Talk to our agents – they all “live work and play” right here in the Disney are and will help you understand the value of your preferred property by showing you the recent sales figures of comparable properties within your preferred or comparable community. These figures will be a good indication of the market value of the property and help you understand the local market values and conditions. Transactions from the last 3 – 6 months are the most important as these will be used by the appraiser to determine the current appraised value of your property should you be looking for a loan.
Expect some competition:
Foreclosures and short-sale properties are down over 84% and low inventory levels in Central Florida is spurring an increase in demand for property in Orlando. Home buyers may face increased competition for the home they want, particularly among short sales and foreclosed properties, in which they may be up against investors who are making all-cash offers. It is, therefore, important bank-financed buyers are pre-qualified in the current real estate market.
Conduct property research:
When buying property in Orlando, Central Florida it is important to work with a real estate agent who knows and understands the unique real estate market of Orlando. They will be able to give you invaluable advice and information on the short-term rental market enabling you to make the right investment choice for your personal and investment needs. Understanding the value of properties within your preferred community and how they compare to your favorite homes is important in your decision making process. Once you have the property, home and termite inspections are recommended to ensure the property is structurally sound and suitable for your needs.
We have helped clients purchasing property in Orlando area for over 20 years and our agents have the knowledge and experience to guide you. It’s an important decision so make sure you are working with people who know the area and the communities – never buy from a trade show or direct for the developer.
Contact us today and let one of our agents guide you through the process.
