Wouldn't YOU want to wake up to this?
Another featured city this week: ORLANDO, FLORIDA. That’s right. Home of Universal Studios and, of course, Disney World. However, not only is Orlando home to amazing tourist attractions, but also it is home to great…. well, HOMES!
The real estate market in Orlando is one of the fastest growing markets in the country. Being such a centralized location in Florida allows Orlando to draw in all sorts of business, commerce, and new people. Orlando is located about an hour from Daytona Beach and an hour from Tampa Bay on the east and west coast’s of Florida, respectively. It is also extremely accessible, housing one of the largest international airports in the country!
Oh, yeah, and as I mentioned, home to Mickey & Minnie Mouse. Who wouldn’t love THAT?
So, what makes the Orlando real estate market so hot right now? Well, as we all know, the real estate markets around the country have seen a huge downturn over the last few years, but are beginning to rebound. Orlando is no different. Although sales are down from years past, the Orlando Regional Realtor’s Association (ORRA) reported this week that in April, members of the ORRA sold nearly SEVEN times more homes in the lower-range category than in the upper-range category — this is extremely indicative of a rebounding economy and housing market. Basically, this means that buyers and sellers are starting at the bottom, and working their way up. It’s a cycle. Sales in a lower category gradually stimulate sales in other categories: i.e. supply and demand.
Orlando is also home to incredible neighborhoods rich with community and culture. Springs Landing, Magnolia Plantation, and Sweetwater Oaks are just SOME of the neighborhoods in and around the Orlando area with beautiful homes, great schools, and fun activities.
Here is some raw data regarding the Orlando housing market:
- There were 3,412 NEW contracts posted in the month of April 2009, nearly double what was filed in April of 2008 (2,012).
- There were a reported 1,741 COMPLETED closings in April of 2009, a 42% INCREASE in closings from April 2008 (1,231).
- The median price of ALL Orlando homes sold in April was $132,900. This is a decrease of 37% from April 2008.
- The average interest rate increased to 4.86 percent in April, up from March’s record low of 4.67%.
- Of the 1,741 sales in April, 49.68% of the homes were either bank-owned (733) or distressed (132).
- The median price of the bank-owned homes sold in April was $89,900, while the median price of distressed homes was $146,000.
- The median price for the “normal” homes (876) sold in April was $161,245.
What does this all mean? It means that the Orlando market is surging and on the rise. NOW is the time to buy while housing prices and interest rates are low.
Should you sell now? If you are looking to sell your home, now is a GREAT time. With the influx of traffic to the Orlando area housing sales are on the rise. The statistics above show that the market is improving and that sales in a low-price range are ultimately stimulating sales in the upper price ranges.
If you do choose to sell your home now, consider selling your home with us, Just List ‘Em. By selling your home on your own, you are guaranteed to save thousands of dollars on commission. Instead of losing 6% of the home’s selling price to a realtor, you get to keep that money and simply pay a flat fee of $299 to list your home on the MLS (multiple listing service).
So, for example. If your home sold at the MEDIAN price of $132,900, a realtor would charge you approximately 6% of the selling price, of the home, which equals out to around $7,974. If you were to sell your home with Just List ‘Em, you would pay the FLAT FEE of $299, and that’s it. You would save $7,675. That’s a lot of money if you ask me.
Just some of the MANY reasons why Orlando is THE place to buy and sell a home right now.
Just List 'Em. 