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Oviedo Real Estate Market Conditions for April 2010

By
Real Estate Agent with RE/MAX Downtown SL3136190

This real estate market report for Oviedo, Florida shows that although the First Time Home Buyer Credit ended April 30′th the actual properties sold in Oviedo did not increase, while the number of properties under contract did see a decent increase, especially for distressed properties.
Oviedo still has 170 Distressed (Short Sales 136 & REO's 34) out of the 411 active properties on the market. This is 42% of the properties available that the bank has already foreclosed on, or that have owners who are trying to sell who are unable to satisfy the mortgage in full for a typical straight (non-3rd party approval) sale. The true benefits of the First Time Home Buyer Credit and Second Time Home Buyer Credit will not be obvious until Late June or July due the duration it takes the bank to approve the sale. While the credit is only available for the homes that close prior to July 1st, it will be interesting to see if many contracts fall apart as of mid June, when it will be obvious that the potential buyers will not receive the tax credit.
Be sure to drop back by the first week of June, when we will run the report for May activity to see how fast the banks are actually closing the distressed sales, which has been a constant problem. Statistically banks are still taking 90 to 120 days to approve contracts and added to that is the 30 to 45 days needed to close by the buyers which is why I believe many sales will fall apart.

 

Jan

Feb

March

April

May

Properties for sale in Oviedo

     

411

 

Foreclosure properties listed since last post

     

170

 

New Non-Foreclosure listings since last post

     

241

 

What's sold in Oviedo since last post

32

54

58

59

 

Foreclosures in Oviedo since last post

19

27

29

29

 

Non-Foreclosures sold since last post

13

27

29

30

 

What's under contract

     

248

 

Foreclosures under contract in Oviedo

     

172

 

Non-Foreclosures pending in Oviedo

     

76

 

Here is a list of what sold in Oviedo during the month of April

Address

Zip

Beds

Baths

Sq Ft

List $

Pool

ADOM

Sold $

SP/SqFt

SS/REO

1910 SUMMER CLUB DR #102

32765

2

2

975

49,900

 

35

48,000

49.23

REO

1920 SUMMER CLUB DR #114

32765

2

1

871

51,900

 

28

48,500

55.68

REO

1989 SUMMER CLUB DR #113

32765

2

2

975

69,900

 

4

60,500

62.05

SS

2271 SUNNYVIEW DR

32765

3

1.5

1536

59,900

 

11

61,000

39.71

REO

128 RESERVE CIR # 208

32765

2

2

1098

95,900

 

8

88,000

80.15

 

1002 STOUT CT

32765

3

2

1690

125,000

 

624

125,000

73.96

SS

404 PENNY ROYAL PL

32765

3

2.5

1689

139,900

 

149

135,000

79.93

 

1003 BLACK WILLOW

32765

4

2

1571

136,900

 

12

136,900

87.14

REO

3140 S HORIZON PL

32765

3

2

1317

139,900

 

9

139,900

106.23

 

192 BURNSED PL

32765

3

2

1359

149,900

 

117

140,000

103.02

 

2223 SUNNYVIEW DR

32765

3

2

1464

145,000

Y

22

144,000

98.36

 

4234 S JODHPUR CT

32765

4

2.5

2469

145,000

 

397

145,000

58.73

SS

1015 VANNESSA DR

32765

3

2

1522

141,900

 

239

147,000

96.58

SS

1017 HORNBEAM ST

32765

3

2

1635

140,000

 

252

149,000

91.13

SS

54 CHIPPENDALE TER

32765

3

2.5

1625

148,000

 

109

151,700

93.35

SS

51 CANTERBURY BELL DR #3

32765

3

2.5

1578

169,990

 

27

153,000

96.96

 

5113 CYPRESS BRANCH

32765

3

2.5

1656

154,900

 

139

154,900

93.54

REO

1038 MANIGAN AVE

32765

3

2

1420

169,900

 

35

155,000

109.15

 

2672 RUNNING SPRINGS

32765

4

2

1970

179,500

Y

3

155,000

78.68

REO

598 N DIVISION ST

32765

3

2

1556

174,000

 

147

159,000

102.19

SS

581 LYNN ST

32765

3

2

1544

167,881

 

183

163,000

105.57

 

1031 GORE DR

32765

3

2

1706

175,000

 

68

168,000

98.48

 

163 WINDFLOWER WAY

32765

3

2.5

1664

179,982

 

106

169,987

102.16

 

555 APPLETON PL

32765

4

2

1847

179,900

 

25

170,000

92.04

 

5827 PINE GROVE RUN

32765

4

2

2116

187,500

Y

48

172,000

81.29

REO

1618 CANTON LN

32765

3

2.5

1620

174,900

Y

31

175,000

108.02

SS

538 N DIVISION ST

32765

3

3

2551

187,700

 

60

177,000

69.38

REO

1673 LAKELET LOOP

32765

4

2

1846

185,000

 

197

185,000

100.22

SS

215 EASTON CIR

32765

3

2

1559

197,805

Y

14

189,000

121.23

 

8459 CHAMBERLAIN PL

32765

3

2.5

1691

197,674

 

49

198,013

117.1

 

1715 LAKELET LOOP

32765

4

2

2217

199,900

 

15

200,000

90.21

REO

2776 CYPRESS HEAD

32765

4

3

2156

201,000

 

8

201,000

93.23

REO

459 EASTBRIDGE DR

32765

4

2.5

2178

222,900

 

45

217,000

99.63

 

580 CARRIGAN AVE

32765

4

2

2082

229,900

 

30

218,000

104.71

 

789 S LAKE CLAIRE CIR

32765

4

3

2540

234,900

 

16

230,000

90.55

 

7536 BRIGHTWATER PL

32765

4

3

2198

249,900

Y

76

235,000

106.92

REO

2712 CYPRESS HEAD

32765

4

3

2156

244,900

Y

73

244,900

113.59

 

1335 MACTAVANDASH

32765

3

2

2069

260,000

Y

27

250,000

120.83

 

1145 NEEDLEWOOD

32765

4

2

2162

264,900

Y

43

250,000

115.63

 

1847 LAKELET LOOP

32765

4

3.5

2800

225,000

Y

89

250,000

89.29

SS

2210 BLOSSOMWOOD

32765

4

3

2352

269,900

Y

13

259,000

110.12

 

553 WILMINGTON CIR

32765

4

2.5

2686

299,900

Y

436

260,000

96.8

 

351 REMINGTON DR

32765

5

3.5

2916

260,000

Y

339

260,000

89.16

SS

925 COUNTRY CHARM

32765

5

4.5

3501

309,900

 

88

294,900

84.23

REO

7251 WINDING LAKE

32765

5

4

3410

324,500

 

203

300,000

87.98

SS

1453 ARBITUS CIR

32765

6

4

3300

405,000

Y

477

330,000

100

 

335 SILVER SPRINGS DR

32765

4

3

3313

349,000

Y

11

351,593

106.13

 

3880 GOLDEN MEADOW

32765

4

3

2574

372,000

Y

182

355,000

137.92

 

911 WORTHINGTON CT

32765

5

3

3205

365,000

Y

21

360,000

112.32

 

1445 BROOKS LN

32765

5

4.5

4069

629,000

 

73

550,000

135.17

 

1465 BROOKS LN

32765

4

5

5101

1,295,000

Y

292

1,195,000

234.27

 

2340 PINEBROOK CT

32766

4

2.5

1792

155,000

 

45

162,500

90.68

SS

1884 SHADOW PINE CT

32766

3

2

1855

174,900

Y

14

174,900

94.29

REO

1358 CANDY APPLE WAY

32766

3

2

1810

176,000

Y

201

179,500

99.17

SS

1357 TWIN RIVERS

32766

4

2

2063

199,900

 

44

196,000

95.01

REO

4177 HEIRLOOM ROSE PL

32766

5

3

2410

199,900

 

67

200,000

82.99

REO

3480 HOLLOW OAK

32766

5

3

3006

399,900

 

14

362,500

120.59

 

4312 RAYWOOD ASH CT

32766

4

3

3060

369,000

Y

11

368,000

120.26

 

4000 BLUSHING ROSE

32766

4

3

3104

389,900

 

23

370,000

119.2

 

One of the interesting facts that many people fail to realize when buying a distressed sale, is not only do they get a deal on the purchase price, but what is not accounted for is the cost to renovate or make ready cost associated "AFTER THE SALE". So please keep in mind that the cost per square foot may be low, the buyer may have had to invest thousands of dollars repairing or renovating the home that does not show in the sale price. So if you are looking at a foreclosure, short sale or bank owned, please keep this in mind.

If you would like more information on any of the properties available, or even the properties that sold, please give Brady Pevehouse a call at (407) 374-3123 and I will be more than happy to attempt to get you as much information possible.

This report provided by Brady Pevehouse, an agent of Perrone Realty specializing in Orlando Real Estate and Oviedo homes for sale.

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