I also heard the ads on the radio, sponsored by the Orlando Realtor’s association – about how NOW is a great time to buy I would have to agree with them too! Judging from the recent absorption rates in Orlando, it seems like trends may be turning! There is still some uncertainty with the “shadow inventory” we hear about – but depending on if that is a trickle or a DUMP into the market – we may see a … (0 comments)
I lived in New York too and remember their court processes and how often they favored the tenant, the homeowner, etc. I guess on one had this is a good thing because it can protect the consumer, giving them longer to make other arrangements, try to resolve the situation, etc.
On the other side of the coin, however, is the investor. Weather that is … (2 comments)
market decline stable: Hey New Yorkers - is it time to buy in Florida?
- 12/12/10 11:26 PM
I remember when I first moved to Florida full time. It was in 2003, before the BOOM in real estate. I owned a home in upstate New York which was worth about $40,000 at the time but the taxes were outrageous! Couple that with winters where it was common for 6 feet to 10 feet of snow to accumulate – and it was an easy decision to make the move to Florida! Sure, the median priced home was around $200,000 – but taxes were WAY lower (no state income tax, lower sales tax and lower real estate taxes!) and from a … (8 comments)
market decline stable: Are prices increasing or recovering?
- 11/29/10 07:30 AM
I downloaded the latest 3rd quarter report for Orlando today, from the National Association of Realtors and saw the very 1st graph which caught my eye: Click to view large Download this gallery (ZIP, undefined KB) Download full size (52 KB)
I have been seeing of late, some increasing trends for home sales. Yet when you look at the longer view - it is quickly apparent that the markets are really just getting back to ground zero! The report showed a lot of really good data, which I have been tracking ‘on the ground' in real estate appraisals here … (1 comments)
market decline stable: Trends Tell The Story - Even if folks don't believe it
- 02/12/10 10:36 AM
Here in central Florida, things have been rough for the last couple of years! We saw the "boom" of 2004-2006 and the "bust" of 2007-2009. Many cities in Florida are still in a massive "over supply" situation with continued declines in home prices. However, not all markets are the same. In each appraisal report I write, I routinely compile trend analysis for a radius of similar homes around the home being appraised. In this case, condominiums in the Disney tourist area along US 192. Even with 16 years of appraisal experience, it is still tough to call a market "stable" or … (2 comments)
market decline stable: Consumer Confidence UP - Market Declines DOWN
- 08/27/09 12:08 AM
A recent article from the Florida Realtor's Association, noted that Florida's consumer confidence was on the rise. It is interesting that at the same time in the market, I am noting trends as of the 3rd quarter 2009, showing recovery of price/sf and in many cases - increase over the prior quarters:
You can see from the above market analysis - the overall 2009 market still has an average decline of 1.52% per month. However, the 3rd quarter is showing promise! And this is a trend I am seeing in nearly all of my appraisals over the month of August. … (2 comments)
market decline stable: Do Sellers and Buyers Have The Same Perspective?
- 11/03/08 05:27 AM
I have found recently that many neighborhoods in the Central Florida housing market, show significant differences between what a seller's expectations are and what is reality from the buyer. One example of this, is in a community south of Clermont, FL known as Westchester.
There are presently 15 active listings in the Westchester community ranging in size from 1,176 sf to 2,200+ sf. Listing prices are from $109,900 to $249,000. In the last 12 months, the MLS reports 7 closed sales from $150,000 to $209,000 for homes of similar size range. There are currently many short sale and REO/Bank owned … (1 comments)
market decline stable: Export MLS data to create Trend Analysis
- 10/20/08 03:28 AM
I wanted to share with anyone who may find this helpful, some quick ways to create valuable reports for your clients. Using simple Excel tools and your local MLS data - you can accomplish some significant graphs and charts to share with your customers: Video #1 - Exporting Data: Video #2 - Sorting and Organizing: Video #3 - Creating Graphs Video 4 - Creating Charts and Demonstrating Decline:
Make it a productive day
… (10 comments)
market decline stable: What a time to buy! (FREE REPORT)
- 10/11/08 11:01 AM
Aside from the melting credit markets and tighter lending availability.....this is a GREAT time to be in the market for a home! (KEEP READING for a FREE copy of my neighborhood report!) The more trend analysis I do in my local Orlando/Lake county markets - the more solid this trend becomes that pricing is similar to that of 2004! And the economic outlook is up - if you are looking from a broader "down the road" perspective. I know that if you watch 24 hours of Fox News or CNN Market watch - you think the planet will implode in about 4 … (1 comments)
market decline stable: Not ALL Central Florida Housing Markets are bad!
- 09/30/08 05:35 AM
It seems like all you hear about from local TV stations is the crashing housing markets here in Central Florida. If all you hear from are news sources - you would likely think that the whole region is still in the dumps! However, talk to some of the folks on the ground here, and you may be finding a different story! While my purpose is not to pitch you on the beauty of the market right now - I do want to let you know of some bright spots out there! Certainly I have seen markets which continue to decline. However, … (2 comments)
market decline stable: Is your appraiser giving you the whole story?
- 08/27/08 05:04 AM
I recently complete an appraisal for an FHA refinance for a client. While at the home, the customer gave me a copy of his appraisal from when he purchased the home in 2006. The customer was fully prepared that home values in the Orlando market have certainly declined - but I was mostly surprised by what I saw in his appraisal report from the time he purchased the home!What I found was that the home was originally appraised by a trainee appraiser under supervision of a Certified Residential appraiser. The supervisor indicated that he did not inspect the home and only … (0 comments)
market decline stable: It's Not All Bad News!
- 06/20/08 12:26 AM
As I continue to research communities throughout the day while performing area appraisals, I am finding some strength returning to certain communities. The media would have us believe that the Florida housing market is still crashing - and it is in some areas. However, there are also some communities which are picking up and are actually considered stable again! I recently was appraising a home in Greater Pines in Clermont, FL. This is a subdivision situated just south of Highway 50 off of Hancock Rd in Clermont. You can see a view of the community by clicking HERE. This is the first time … (7 comments)
market decline stable: Math Doesn't Lie
- 04/24/08 11:36 AM
There is a new pressure these days on appraisers - something new to conform to. Well, pressure to hit a number is still there from some clients, but appraisers are now armed with the HVCC threat, I mean proposal, offered by NY Attorney General Cuomo and Fannie Mae/Freddie Mac. I am hearing more appraisers referring to the new proposal as something possibly harmful in the long run - but many are running to it for some "teeth" to push back on pressure. But the new pressure these days seems to be over stable vs. declining markets! I know in my area … (0 comments)
A recent report from the Florida Realtors site today, reported Orlando as one of the top 11 ‘combacks’ for 2011!!
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