It feels like Fall outside with high temperatures today only reaching the mid 80's and very little humidity. This morning almost felt crisp and cool. My wife told me she saw it snowing somewhere on the news the other day, and I really feel sorry for people that are already facing old man winter. We usually don't see a real cooling trend until about the end of October, but today's weather is a nice reminder of how fantastic Fall and Spring are here in Orlando. Even though the weather may be succumb to the season, our sales seem to be continuing the Summer trend. As of this morning there have been 1,706 sales posted for September, and I suspect that number will continue go up and pass the 2,000 mark by the time all the sales are recorded. I also can see October shaping up to be a pretty good month for sales as well. Frankly, October is typically has a bit of a surge before the holiday slow down. With the first time home buyer tax credit expiring at the end of November, I expect the surge to continue through November.
Our pending sales continue to rise with over 8,900 homes under contract as of this morning and more than 3,700 new contracts written this month. It appears we are continue to outsell the banks' ability to keep up with short sale, REO and loan approvals. I personally could close eight more transactions in October that require bank cooperation. I expect I will close one of those deals in October, maybe two. Talk about a boost to my own personal economy and the personal economies of the title agents, loan officers, appraisers, surveyors, and inspectors involved in these potential sales. I have read that up to 60 people "touch" each real estate transaction that closes, so let's keep the summer time sales rolling in.
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