The latest sales figures from the local Orlando Realtors Board show that sales of existing homes and vacation homes are showing a second month of sales increase over last year. While this is positive news for home sellers upon further review of the statistics we see that the majority of the sales were foreclosure properties or short sales. 

So what does this mean for Buyers looking for Vacation Homes in Central Florida? Well this tells us that the housing market is starting to improve. This will be a very slow improvement but the signs are positive that we might be at the bottom of the market. Only a solid quarter or two of increased sales will prove that we have reached bottom and that the housing market for the Orlando area is beginning to improve. 

For all those U.K. Buyers and local Buyers, you may want to seriously start your home buying process soon. No one knows for sure when the market will shift upward but the signs are showing that the bottom of the market is here. You don't want to be that buyer who waited too long trying to save a few dollars when the foreclosure deals are out there now. You also want to keep in minds that as the amount of foreclosures decrease so will the quality of these homes. The best properties are out there now; as they get sold we will see the selection of these homes become less appealing. 

Bottom line; don't sit on the fence too long or you will find that you missed your chance at a great foreclosure deal. Contact your local Realtor to get a list of available foreclosures and start shopping.

Steve Glose

www.thefloridalivingteam.com

steve@thefloridalivingteam.com