Central Florida's real estate market has been heating up this past few months with buyers seeing value and feeling comfortable purchasing homes.  Basic economics is gradual decreases in price until value comes back, WECLOME BACK VALUE, we missed you! 

This Spring investors both foregin (UK and Canada) and local buyers are purchasing bank owned condominums and single family homes under 150k, many of them cash purchases.  It started with the condo market and prices under 50k in April and May and since moved on to single family homes.  The past 90 days just in the Hamptons there were 95 sold and pending sales and in Metro West area during the same period 418, a great start going into Summer.  I think history will look back on Spring and Summer of 2009 as the bottom of the market. 

Bank owned homes and condominiums were and still are hot buys starting out 2009.  Priced attractive with quick response times make them good deals, unlike the messy "short sale" process.  Searching the MLS for communities that used to be filled with these highly sought after properties are now coming up empty handed or at best one or two over priced properties.  Looking back the first quarter of 2009 an investor would of had a field day with minimal competition and the pick of the crop.  Today as soon as bank owned properties hit the MLS Realtors are quick to get the information to their buyers and most times are in a multiple offer situation with purchase prices going above list price. 

Serious investors many offering cash are now purchasing multiple condominium bulk sales.  Typically priced below market value these bulk sale condo units sell at 60 to 70 percent off market value.  Yes there is still value and asset managers know the current activity in the Central Florida real estate market.

One community within minutes from down town Orlando and popular restaurant row in Dr. Phillips advertises units at $80,000 to $90,000 per unit but purchasing a mixed number of one and two bedroom condos you can negoticate that price in the $50,000's.  Two pools, indoor racket ball, fitness room and lakefront property. 

Orlando is not the only place offering bulk sales, St. Pete and the costal community will have bulk sales coming up in the next month.  Opportunity is out there for people willing to look. 

Central Florida's Dr. Phillips homes, Windermere and Orlando real estate markets are seeing an increase in buyer activity which bolds well going into Spring and Summer months.  Agents in the office are walking with a jump in their step, phones ringing, buyers in conference rooms and offers and contracts are being signed, Gang, I think we hit bottom, in some markets.

Take a look at the numbers from the Orlando Regional Realtors Association last month, we don't have March numbers but I have a strong feeling when they do come out we'll see significant increases in properties going under contract and closing.

If you're wondering why we're not hearing this on the local news it's because they talk about previous month's activity.  Sure we want to know trends so that we get a good idea of where we're going but I'm talking about March and what's going on now. The bottom of the market doesn't mean everyone can purchase either.  Banks are still very tight with lending, it's a buyers market because the inventory levels are still very high but not a borrowers market. We are seeing more cash and multiple offers on bank owned homes which tend to be some of the better deals.

Make no mistake the economy's struggling and there are a lot of variables that could throw cold water on any market come back but investors are picking up properties and many times more then one.  Central Florida's real estate market came crashing down in 2006 and the climb up will be slow and methodical with hiccups along the way. One thing is for sure the real estate market will come back and we'll know we hit bottom when we see significant increases in pending and closed properties.  Waiting for the absolute bottom of the market you may be waving at a boat that already sailed and much of the leverage a buyer had in the past would be gone playing on a more leveled playing field.

Windermere's world-known Luxury Golf Club Community Isleworth is nestled on over seven miles of shore line on the beautiful Windermere Chain of Lakes.  Carefree life style for some of Central Florida's famous professional athletes and executives.  With neighbors like Bay Hill and Dr. Phillips, Isleworth carved out a nitch of prestine land with views to die for. 

Isleworth Country Club is an exclusive club for members and their guests. Golfers that have the treat of playing enjoy generous landing zones, big fast greens and a golf course that consistently ranks as Florida's longest and toughest.  

Known for sought after Luxury Estate homes featuring water and golf frontage in a 6,000-acre private gated community.  Only minutes from downtown Orlando, Disney attractions and major shopping malls . 

The famed Butler Chain of Lakes, a series of lakes connected by canals. Residents of Isleworth have access to the lakes from a private launch area within the community. 

Sellers can be their own worst enemy when trying to sell in a strong buyers market.  Home owners selling in today's market better get ready to enter shark infected waters.  Bank owned, pre foreclosures and short sales liter the Orlando, Windermere and Dr. Phillips real estate market, adding to the already high inventory levels.  Here are five steps to set your home Free and get it sold.

1.  Price  Your list price is the most important element of the selling process.  An over price home will not get showings and with no showings come no offers.  There are two strategies when pricing a home. 
In today's strong buyers market pricing a home CLOSER to where it will sell and staying firm on the price is your best bet.  Sure you may get low ball offers but everyone does.  What you are doing is pricing your home attractively which will result in more showings then an over priced home and getting offers you can work with. 

2.  Staging  That's right a new buyer is not taking the towels on the floor or the dirty dishes in the sink but they are looking at it and talking about it and not paying attention to the floor plan and the features of the home.  Going out with buyers the past 10 years I see them get distracted in a home that does not show pristine.  Comments like "I would never sell my home looking like this"  and usually the jokes start to follow.  Buyers can not imagine themselves buying a messy, cluttered home but they do see themselves in a show room ready home with everything in its place. 

3.  Exposure  It makes no sense stopping at the Price and the Staging aspects of a home going on the market with out plan for maximum exposure.  No two Realtors or real estate companies for that matter work the same.  The numbers tell us 87% of buyers start their search on the Internet.  Past experience has shown me sellers choose a Realtor based on the price rather then what they will do to get a home sold.  Interview at least two real estate companies and better yet three.  Hire the company that shows you the Internet exposure and print advertising your home will receive. 

4.  Accessibility  So you are all set with steps 1-3 but how about accessibility.  Are you tying your Realtor's hands by only allowing showings at certain times or only by appointment with your Realtor.  You only need one buyer and we never know which one it will be but we do not most likely it will not be the buyer that can not get in to see your home.  Sure they can come back another day but what usually happens is they move on to another subdivision, city or town. 

The best showing instructions in today's real estate market is for a courtesy call to the home owner on one or two phone numbers letting them know a showing has been scheduled, usually a 1 hour window.  Electronic lock box on the door.  For seller that are at home when the doorbell rings have all the lights turned on lite music on LOW and step out and let the Realtor show the home to the buyers.  Buyers will not feel comfortable looking through your home if you are there and they can not imagine this to be there home if the home owner is standing right next to them. 

5. Work every offer   Don't brush away your early offers thinking more are right around the corner.  Some of your first offers are your best.  After a buyer looks through homes in an area and nothing interests them they will wait for new listings to come on the market.  These can be some of the best buyers.  They know what they are looking for and have already looked at homes for sale.  Work every offer to the end and ALWAYS leave the door open for buyers to come back. 

To find Your List Price in the Orlando, Dr. Phillips and Windermere communities let Century 21 Home to TEAMCONNECT and Eight Realtors be one of your three appointments you make with a real estate company. 

For the home buyer looking for tree covered streets and lots larger then your cookie cutter subdivision Windermere communities should be one of your first stops.   A couple of years ago you needed at least $500,000 to get into one of Windermere's sought after communities but with the decline in home prices the past two years Windermere real estate is ripe for the picking. 

A place that's known as "The Town Among the Lakes"  Windermere has the look and feel of yesteryears and could be a canvas for a Norman Rockwell painting.  A person could miss down town Winderemere if they blink.  The brick paved roads under moss covered trees and steady paced traffic makes a person slow down from a busy day.

Dr. Phillips High School is an "A" School, located in the Dr. Phillips area. DPHS is know for their four very popular Magnet Programs.

1.  Business Academy (BA)

      The Business Academy is for students interested in enrolling in the College of Business at a university, majoring in some area of business in a community college, wanting to start their own business, or looking for job entry skills. The academy is designed to provide academic and technical training through a team of teachers working cooperatively to integrate and make the curriculum relevant to today's workplace. Students may enter the academy at any level including 9^th grade.

2.  Medical Academy (MA)

      The Medical Academy is designed to prepare motivated students for a future in the dramatically expanding area of medicine and health care related fields. The purpose is to allow students the opportunity to examine various medical professions and acquire a foundation of knowledge necessary for all medical personnel. The Medical Academy was developed for students planning to attend a four-year university, a community college, or a technical center majoring in a medically related career. The Medical Academy has a group of teachers working together as a team to provide quality academic and health related instruction.

3.  Visual and Performing Arts (VPA)

      The goal of the Visual and Performing Arts Magnet (VPA) is to provide a structured curriculum enhanced with both academic and career related opportunities. Students look forward to mastering the skills in their chosen arts area after selecting a course of study in one of five strands: art, dance, and music, theatre, or TV production. Courses are taught by an outstanding staff who supplements instruction with nationally known guest artists and local specialists, artists, choreographers, potters, dancers, casting agents, directors, and many others. Teachers seek the most current speakers and field trip opportunities to allow students a practical look at today's ever-growing world of arts and entertainment. Because of increased graduation requirements, some students may need to complete courses in summer school or through Virtual School. The academic design is meant to allow students maximum opportunities for scholarships, auditions and internship in their areas of interest.

4.  Center for International Studies (CIS)

      The Center for International Studies was developed by Orange County Public Schools to provide students with an awareness of global issues, to help them attain the cultural and multilingual abilities necessary to meet the challenges of the 21^st Century and to provide an interesting, challenging college preparatory program. This four-year magnet program coordinates various academic disciplines including foreign languages, social studies, humanities, the arts, and language arts. Each course is designed to emphasize the development of critical thinking, analysis and research skills. In addition to the specialized curriculum, education is enhanced through many stimulating activities, guest speakers, hosting international students and participation in study-travel programs abroad. This is an accelerated Advanced Placement program that encourages high standards and provides a basis for study at universities here and abroad. All CIS students must have applied to and been accepted by the School Choice Office during their 8th or 9th grade year.

This information is coming from DPHS and is deemed reliable but is not guarantied.

Buyers are  looking through homes in Central Florida's real estate market.  TeamConnect work's in the Dr Phillips, Windermere, Orlando and Winter Garden communities and we have seen a drop in activity once school started but no where near last years decline at the same time going into the 4th quarter. 

Just this past week there was a buyer that lost out on a home because of multiple offers and this morning I received a call from an agent that lost on a home in Windermere because of another offer coming in higher.  Don't get me wrong its still a very strong buyers market but to the surprise of many buyers just starting out the homes priced attractive are going pending.  No great big strides getting out of this housing crunch but more small subtle signs of recovery.  The housing market came crashing down and will go up at a much slower pace.

If you are thinking of selling in the near future spending time up front will help immensely in the long run.  First off, remember your home is a marketable commodity. As a seller your number one goal is to get other buyers to see your home as their next home, not yours.  Simple repairs, depersonalize and landscaping can really give your home a heads up from the competition, many of which have been on the market over a year.

Realtors feel that it is easier to sell a home that has been "depersonalized".  A depersonalized home will attract a larger percentage of buyers that can see them self living in the home, it's a numbers game.  Take down family photos, knick-knacks, and clutter and start packing all unused items into neatly placed boxes, remember you're moving.  This is a great time to think about your favorite charity and donate many of the things you end up seeing only when you do move.

Simple repairs help your home show better and sell faster.  Concentrate on little fixes that make a big difference. Replace old caulk in the kitchen and bathrooms, get carpets cleaned or replaced, and touch up paint or repaint if necessary, it's cheap and gets you the best return.  You may be able to find a company to purchase new carpet from that will allow you to pay 6 months later or when you sell.  Don't forget about loose door knobs and get all doors and closets in working order, buyers will open them. 

Be creative and make the rooms look as large and useful as possible.  Use brighter light bulbs and open curtains to make rooms look bigger.  Get rid of pet odors, we all know we can get used to pet odor if we live in the home so ask a friend to help out, to be honest and let you know if you need to do more.  Don't forget about the landscaping, curb appeal is very important.  Give your lawn the best cut it has ever had, trim trees and hedges, and be on the look out for sales on mulch and buy enough bags to give your yard and entry way that finished touch.  Realtors spend a couple of minutes getting the door key from the lock box and buyers have a few minutes there, impress them with your neatness and uncluttered walkway.   

Inventory levels are still at record highs so get a jump start on your competition and make your home show like a model. Buyers are picky these days and want the whole package; price, location and a home in great condition.  We live one way but sell another, feel free to contact CENTURY 21 Elite Properties' TeamConnect for more information.

(407) 516-1000

www.YourListPrice.com

Your Central Florida real estate team!  Free Home Evaluation, no obligation!

This site will go more into detail explaining short sales.  In short (sorry for the pun) a "short sale" is when the seller owes more for the home then the value plus any cost associated with selling.  The third party approval the seller needs is the lender.  The lender has to approve of course receiving less money back then the seller owes.  You may wonder why the bank would take less money than is due, it's because if a bank goes through foreclosure the cost of the foreclosure will be added on top of the banks cost. 

Many buyers looking for Orlando homes for sale start out looking at "short sales" for that deal of a century.  Not uncommon though frustration sets in when buyers spend a lot of time and energy putting in offers and not hearing back and watching banks take other offers. One of the strategies agents take in short sales is to list the home under what a bank may accept, understanding no one knows for sure what that number is.  What this strategy does is gets more buyers looking at the home and therefore more offers an agent summits for approval.  The bank then waits for the best offer which many times can be over the list price. Don't get me wrong there are deals to be made in short sales but you need to be patient and also a little realistic of the value of a home.  The bank of course is trying to get as much as they can for the home and are not willing to just give it away and would rather wait it out. 

Really, some of the better deals can be BANK OWNED.  Here there is no seller or I should say not your typical seller, the bank now owns the home. They tend to get back usually within 48 to 72 hours of an offer compared to 7 to 10 weeks for short sales.  Other great deals can be found with your everyday motivated sellers and don't forget inventory homes by the builder (which are homes that are already built).  I always recommend talking to an attorney with any real estate transaction.

For Orlando homes for sale updated throughout the day!