The 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 averageContinue reading →
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:
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.
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.
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.