Localism Challenge, Day #21: Inventory's shrinking- it's time to make your move

By
Property Manager with AmeriTeam Property Management SL#3200658
https://activerain.com/droplet/jXF

Localism Challenge, Day #21:  Inventory's shrinking, prices rising- it's time to make your move

For sale Rising arrown

Localism Challenge, Day #21:  Inventory's shrinking, prices rising- it's time to make your move

A recent column from the Orlando Sentinel's Mary Shanklin points out some encouraging signs for our local real estate market here in Orlando.  Schools are open- and Economics 101 is in session:  inventory is shrinking and prices are rising.

When the median sales price in July exceeded the previous year's median by 6 percent, it was the first time in four years that the local housing market had managed a year-over-year gain in resale prices.

Since January of this year, Orlando's median price has increased by 21 percent. 

I concentrate on the rentals and leasing markets right now, and the increase in sales prices and dwindling inventory also bodes well for me and my business.  Places getting bought means less places to go....places being bought for more money means places will be leased for more money.  Tenant prospects will have less room to lobby for price reductions and concessions.

For rent  

Localism Challenge, Day #21:  Inventory's shrinking, prices rising- it's time to make your move

Fence-sitters, word to the wise:  it's time to make your move...

At the current sales pace, there was a 4.3-month supply of homes available for sale in the core Orlando market, well below the six-month supply considered normal for a balanced market. Total inventory was down 39 percent from August 2010; the number of single-family homes was down 36 percent, while the number of condo units for sale was down 52 percent. 

Planning to purchase a new home for your family?  Do it soon.  Looking for an investment property?  Buy it now- while they're still around.

Lastly, if you're pondering the buy/sell decision, get off the couch and make your move.  I have properties for rent if folks need them, and a great referral network of friends and associates that can assist in any purchases you may wish to make.  That great place you've been eyein' won't last forever....at least not here in Orlando!

So...what's your choice?

Decide The only wrong decision is indecision.

Localism Challenge, Day #21:  Inventory's shrinking, prices rising- it's time to make your move

Posted by
 
DENNIS B. BURGESS
Property Manager

Licensed Florida Realtor
 
AmeriTeam Property Management
845 N. Garland Ave., #200
Orlando, FL  32801
 
 
 
205-445-4755 cell/direct
407-901-3636 x103 office
407-901-5147 office fax
 
Turning vacant into occupied, and "houses" into "homes"SM
 
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30 Days In September 2011 Localism Posting Challenge
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Rainer
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Pam Hills
Innovative Artistry - Kendall, FL
ASP/IAHSP- Stager Miami, FL, Creative Minds Innovatively At Work

Dear Dennis ~ Great news for the industry there & I *suggest.  I think this perspective is beneficial for others to take a look.  Thanks for sharing & best wishes with the Localism you are doing fantastic!!

Sep 22, 2011 03:42 AM #1
Rainmaker
422,451
Dennis Burgess
AmeriTeam Property Management - Mid Florida, FL
Orlando Property Manager and Realtor

Hi, Pam:  Thank you for stopping by, and for your comment and encouragement.  The localism is a tough challenge, to be sure- but if it was going to be easy, the could just go ahead and call it the "here's x points" event and throw them at you.  I'm gonna make it, though!

Sep 22, 2011 05:40 PM #2
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Rainmaker
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Dennis Burgess

Orlando Property Manager and Realtor
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