Short Sales and Bank Owned - 07/31/08 09:02 AM
Wow! I was out showing homes this past week, and all but one that I saw was either a short sale or a bank owned property. I was looking in the $150,000 to $200,000 price range, in the south Orange county and Osceola county areas. I waslooking for pool homes too, which limited the search quite a bit. This seems to be the "sweet spot" for distressed properties. If you are looking for properties in this price range in our area, you should understand the difference between short sales and foreclosed properties.
First, the short sale or pre-foreclosure. If the owner is … (0 comments)

Orlando Florida Real Estate Investment - 07/27/08 12:23 PM
This post is in response to a message I received from Judy.
"Dave ... come again with the incentive of investing in fla homes,,,, I'm a landlord an i pay2.5 times as much as my neighbor does,,,,,,, I sugguest you get your facts str8 before you open that wide mouth of yours,,,,,,,,,I pay 3100 mean while my neighbor is skating by only paying 1200 hmmmmmmm some incentive that is ,,,,,,,"Judy, I have no idea which of my posts you are referring to in your message. I did mention an article by Forbes that named Orlando a top ten market for real … (0 comments)

Mortgage Bailout and Downpayment Assistance - 07/24/08 03:34 PM
The mortgage bailout looks like it is going to sail through congress now that President Bush has withdrawn his objection to the $3.9 billion set aside to help the neighborhoods effected the most by foreclosures. I can't say that I like all the aspects of this bill. As it stands right now there is give and take that helps home buyers then makes it tougher for them too. There is a proposed tax credit for first time buyers of $7,500 if they purchase before July of next year. That is the give. The take is the higher FHA downpayment requirement of … (6 comments)

Market Turning the Corner - 07/22/08 01:41 PM
Treasury Secretary Paulson, stated that he believes the real estate market may be turning the corner in the next few months. Bear in mind, his statements are relative to national numbers. Real estate is a local market place with local economic factors weighing more heavily than the national economy. For instance, a lot of good economic activity is happening in Houston Texas. From what I understand Houston added more than 100,000 new jobs in the last 12 months. The spike in oil prices is fueling much of that activity, so it is hard to say what effect the recent drops in … (4 comments)

Condo Commodity - 07/17/08 01:46 PM
First, I should say that no home is a commodity. Every property has a unique location, a personality, a feel, even its own smell. Condos are usually the most homogeneous properties, because there are usually several of the same floorplan within a particular building. Certainly, the exterior component is consistent, if not uniform, within an entire condo community. So how do you differentiate your unit from the others for sale.
Marketing people refer to the Four "P's": Product, Place, Price and Promotion.
Product is the most difficult area to find differentiation because your two bedroom, two bathroom unit is the same … (0 comments)

Another Positive Article - 07/16/08 11:49 AM
Today on Yahoo Finance there is an article from Forbes naming the top 10 markets for real estate investment. Orlando is ranked number 10, although they do not really explain the rationale for the rankings. New York, San Francisco, and pretty much all the others in the top 10 have prices well above Orlando's median of $217,500 (June 08). The article is geared more toward the offshore investor, who seem to be the only investors with money these days. So, I guess the price ranges of some of these other markets are not as daunting.
www.DavidWelch.com, www.RealEstateOptimist.com
… (6 comments)

Real Estate In The News - 07/15/08 04:15 PM
I can tell things are getting better, because there are not so many articles about the real estate market. Of course the Indymac Bank, Freddie Mac, and Fannie Mae news has been taking up the slack. One of the best reports I have read recently was in Barron's this week. Make sure you read that one. It actually seems to be based on facts and reason. Naturally, there was a more typical article in Forbes today on Yahoo. It sounds positive - Most Affordable Real Estate Markets. Just to give a quick example they call San Diego one of the top … (0 comments)

Orlando Real Estate Statistics 07/10/2008 - 07/10/08 10:50 AM
The numbers are in, and they are looking up with 1,443 closed sales which is up from May's 1,347. The median price is also up over May at $217,500 compared to $211,400. Unfortunately, interest rates are up as well with an average rate of 6.35% compared to 5.94% in May. The inventory of homes available for sale and the months of supply both went down. The inventory stands at 24,575 which is a decline of 440 properties. The months of inventory supply is down to 17.03 months which is a decline from May's 18.57.
I will have the full Market Pulse posted … (1 comments)

 
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David Welch, Orlando Real Estate Optimist

Orlando, FL

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Remax 200 Realty

Address: 954 S. Orlando Ave., Winter Park, FL, 32789

Office Phone: (407) 629-6330 x 399

Cell Phone: (407) 924-7670

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Orlando Real Estate Blog, news, statistics, marketing reports, insight, opinions. Orlando real estate includes, Winter Park Windermere, Apopka, Ocoee, and Winter Garden, as well as Conway and Dr. Phillips areas of Orlando.


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