Dr Phillips real estate is a highly desirable area of Orlando Florida even in this housing down turn, there currently are 69 homes under contract.  Home values are still declining with so much inventory on the market but buyers are seeing value return.  The problem is most of them need to sell in order to purchase.  This past year if I had a dollar (inflation) for every listing appointment I went on and the reason for selling was to be a buyer in this market I would, well have a couple hundred dollars.

Home values have come down, now there needs to be a loosening of money (not give it away like in the past, if you can not afford to purchase a home you can not get a home) by banks tight lending practices.  This will help buyerswho can afford purchase and get the real estate machine workng again getting sellers out of their homes and turning them into buyers. 

The 4th quarter will again be a slow couple of months for home sales similar to last year but the end of January 2009 will start our spring market and again like last year we will see buyers coming out and homes going pending.  By no means will be out of the woods for another couple of years, we came crashing down but going up will be small gradual healthy increases that will build the real estate market on a solid foundation.