Strong March Numbers Keep Our Local Inventory Tight

MARKET UPDATEThe Central Florida real estate market indicators from March 2015 are excellent! The median price of homes is up 10% from last March, and we had the most homes sales in one month in a long time, breaking the 3000 ceiling (3067).

Our close to home real estate market in Orlando has been strong and steady for a few years, and March showed the surge here as well. The biggest contributor to this was the normal first-of-the-year bump. Also, many buyers began jumping into the market to lock-in what may be the twilight of the super-low interest rates we have experienced for several years.

This has reduced our inventory to less than 4 months (3.75), which almost always means the market is moving in the direction of a stronger seller’s market, prices are going up faster than average Continue reading

Contingent Offers Make a Comback

© Ingrid Dodd 2015

Gator on Lake Monroe | © Ingrid Dodd 2015

It was once common to make an offer on another house that was contingent on the sale of your current home in order to close. For over 5 years since the downturn in 2008, contingent offers of this kind have been unheard of. Part of this had to do with so many owners with no equity or negative equity, and part of it was because average marketing time was months and months and few sellers wanted the entanglement.

All that has been gradually changing over the last year, and many sellers are again ready to entertain offers contingent on another sale. Recently we have been involved in three sell-and-buy transactions like this that were contingent on the buyers first selling their own homes. This is a strong indicator that the overall real estate market in our area is returning to a more normal function.

Why make a contingent offer? The reasons are simple:

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Orlando Metro Area One of the Fastest Growing in the US

The US Census Bureau confirmed something we’ve suspected for awhile, Florida has 6 out of 20 of the fastest growing areas in the nation, reported by CBS/Miami AP reported today. This is great news for sellers and buyers in the Central Florida region.

The growth is driven by increases in the state’s metroplexes in areas such as central and southern Florida, Census Bureau Director John H. Thompson said. Six Florida metro areas were among the 20 fastest-growing: The Villages, Cape Coral-Fort Myers, Naples-Immokalee-Marco Island, Orlando-Kissimmee-Sanford, North Port-Sarasota-Bradenton and Panama City.

You can read the full article here.

Welcome Home to Andrea and Ryan

We’re so happy for our recent clients Ryan and Andrea. They found a cute Gamble Rodgers home in Delany Park, FL. Congratulations to them!

Elton Moughton – Sanford’s First Architect

Check out Seminole Centennial on YouTube for more Central Florida history.

New Listing: Under Contract in 1 day, 98% of List Price

Lovely remodeled mid-century, three bedroom, two bath home in fantastic location close to all the Winter Park amenities and walking distance to Brookshire Elementary, parks, and Cady Way Trail. Click here to view more photos and details in the MLS.

New Listing: Under Contract in 1 day, 100% of List Price


House Hunting with Young Children

We enjoyed this excerpt written by Warren Buffett on real estate investing. We took away the following lessons:

-“You don’t need to be an expert in order to achieve satisfactory investment returns.”

-“Focus on the future productivity of the asset you are considering.”

-“…I am unable to speculate successfully, and I am skeptical of those who claim sustained success at doing so.”

-“Games are won by players who focus on the playing field — not by those whose eyes are glued to the scoreboard.”

-“Forming macro opinions or listening to the macro or market predictions of others is a waste of time. Indeed, it is dangerous because it may blur your vision of the facts that are truly important.”

Treating Tenants Well Pays Off

A property owner recently emailed me to send them our “tenant relations program.” I responded with an email that began, “Our tenant relations program?” I asked. “Uh, we don’t have a tenant relations program. It is not a list of tasks that we do. It is more foundational than that. It is who we are and permeates all our relations with tenants.” The email went on to list what follows:

All of our service staff who relate to tenants (Brian D., Ingrid, Jessica, Melanie, Steven E., Steve D., Brian G., Luis, and the 30 vendors we employ on a regular basis such as plumbing or a/c service) have a service rather than a sales orientation. Melanie, for example, has a psychology degree from Rollins College, and her last job was representing Sea World in a public relations position as a liaison with non-profit organizations. Luis, one of our two in-house handymen, is a paramedic/firefighter and spent seven years working for ServPro doing the same kind of work he assists us with. Patricia was a physicians’ assistant for many years. I was a pastor for 20+ years. We are all people people.

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