Orlando Real Estate

SOLD
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$95,000.00
1626 GULFVIEW DR # 421

Maitland, FL 32751



Beds: 3 Rooms: 0
Full Baths: 3 Sq. Ft.: 1328
Garage: 0 Built: 1982
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google? Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

David W. Welch
RE/MAX 200 Realty
4076296330
www.davidwelch.com



 
  Visit this listing here

Posted in:General
Posted by David W. Welch on February 28th, 2015 11:06 AMLeave a Comment

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February 26th, 2015 7:37 AM
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Listings Photo
$279,900.00
2613 VINE ST

Orlando, FL 32806



Beds: 3 Rooms: 0
Full Baths: 2 Sq. Ft.: 2091
Garage: 0 Built: 1966
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google? Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

David W. Welch
RE/MAX 200 Realty
4076296330
www.davidwelch.com



 
  Visit this listing here

Posted by David W. Welch on February 26th, 2015 7:37 AMLeave a Comment

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February 24th, 2015 9:56 AM
SOLD
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Listings Photo
$169,900.00
2809 RIDDLE DR

Winter Park, FL 32789



Beds: 3 Rooms: 0
Full Baths: 2 Sq. Ft.: 1569
Garage: 0 Built: 1959
 

This is a new listing that
I thought you might be
interested in. Visit this
listing online to see more
photos of the property,
Google? Earth satellite
images, and much more.
 

If you have any questions
about this property or
require more information,
please feel free to call.

David W. Welch
RE/MAX 200 Realty
4076296330
www.davidwelch.com



 
  Visit this listing here

Posted in:Sold and tagged: Homes Sold in Winter Park
Posted by David W. Welch on February 24th, 2015 9:56 AMLeave a Comment

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February 20th, 2015 8:31 AM
I always recommend a local lender to my customers needing a mortgage to purchase a home. There are a few reasons I strongly urge them to work with a local firm. First, the big banks are, in my opinion, horribly inefficient. The loan officer is here, but the processor may be in another state and the underwriter in yet another. Second, because they are often so spread out your loan officer may not even know who will be making the determination on your loan, which means they are constantly coming back to ask for more information from you. Third, the decision about your loan is likely coming from someone who does not know the local market, let alone you or even your loan officer. All of this separation requires strict adherence to policies and procedures, and in my opinion most real estate transactions do not neatly fit into a set of policies and procedures.

A local lender knows you, knows the market, and while they still need to meet Fannie Mae, Freddie Mac, FHA, VA or USDA guidelines they can be more flexible in terms of their own internal policies. In my experience, you don't pay any more for your loan, and you are less likely to get a last minute surprise and far less likely to have delays in your loan process. Please listen to your agent when they make a lender recommendation, and you can still shop around for your mortgage. I just recommend that you work with a local lender. I promise you will be glad that you did.

Posted in:Opinion and tagged: Mortgages
Posted by David W. Welch on February 20th, 2015 8:31 AMLeave a Comment

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February 19th, 2015 10:35 AM

There are 11,924 homes for sale listed by Orlando Realtors® and 7,589 homes listed as contract pending. Of the homes still available for sale, 1,848 are foreclosures and 8 are short sales. Of the homes with contracts pending, 2,055 are foreclosures and 1,983 are short sales.

Way too early Orlando real estate sales statistics for February: 1,150 closed sales with a median sales price of $150,000. Pending sales are continuing to climb, and the inventory appears to be declining a bit.

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on February 19th, 2015 10:35 AMLeave a Comment

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Posted by David W. Welch on February 16th, 2015 12:29 PMLeave a Comment

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February 13th, 2015 12:59 PM

Inventory definitely seems to be holding steady after 18 months of gains making it feel more like a balanced market. There are currently 12,042 homes of all types listed as active by Orlando Realtors®. Of the properties active on the market, 1,912 or 15.9% are REO, 803 or only 6.7% are short sales and 9,326 or a whopping 77.4% are equity sales. What a reversal from a just a few years ago when nearly 75% of the properties were distressed sales. 

While inventory seems to have settled out, pending sales are actually climbing. There are currently 7,264 properties with contracts pending. Pending sales had been steadily dropping as we worked through the ridiculous backlog of short sales. REO listings make up 1,979 or 27.2% of the pending sales, short sales have declined to only 1,988 or 27.4% of the contracts pending, and 3,297 or 45.4%  of the contracts are on traditional, equity sales. In December there were only 5,934 properties under contract, so pending sales are up a healthy 22.4%.

Closed sales last month took a pretty big drop from December's 3,117, but were up nearly 23% from January of 2014's 1,930. There were 2,373 closed sales last month with a median price of $153,000. Again the median sales price was down from December's $163,000, but up over 8.5% from a year ago. Of the homes that closed last month, 902 or 38.0% were REO, only 134 or 5.6% were short sales and 1,337 or 56.3% were equity sales. The closed REO transactions at a median price of $104,799, short sales had a median of $137,000 and equity sales had a median price of $188,500. Cash sales perked up last month with 1,165 or 49.1% of the total closings with a median price of $96,500. Financed sales accounted for 1,208 or 50.9% of the closed transactions with a median price of $195,000.

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on February 13th, 2015 12:59 PMLeave a Comment

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February 10th, 2015 8:49 AM

There are 12,030 homes for sale listed by Orlando Realtors® and 7,137 homes listed as contract pending. Of the homes still available for sale, 1,947 are foreclosures and 815 are short sales. Of the homes with contracts pending, 1,939 are foreclosures and 1,990 are short sales.

Way too early Orlando real estate sales statistics for February: 451 closed sales with a median sales price of $148,000. Closed sales seem a little sluggish, and prices appear a bit soft, but pending sales are climbing and inventory is stable.

David Welch Real Estate Optimist, Orlando Real Estate


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January 30th, 2015 2:47 PM
Monday, I was on Fox 35 talking about the latest RealtyTrac report for 'underwater' homes in Orlando. Here is a link to the story http://tinyurl.com/mjpewbr During that interview Bob Frier asked how big an impact the sales of 'underwater' homes has had on the improving percentage.

I knew it probably had an impact, but could not quantify it. That got me thinking about just how many distressed properties we have had in Orlando over the last several years. Below is a chart with our local real estate sales broken out by REO 'foreclosure' sales, short sales, and traditional 'equity' sales. This chart has the raw number of each type of sale, but the bars are all on a 100% scale to show the proportion of each type of sale as well.

REO sales peaked in 2010, while short sales continued to grow through 2011 and 2012. Short sales are notorious for taking several months to close which probably accounts for the lag time. If you add each category, there have been 60,870 REO properties sold, 38,699 short sales and 95,444 traditional sales. Adding the REO and short sales together, there were 99,569 distressed sales. Most, if not all were 'underwater' sales. So, I would say the fact that we have sold such a huge number of 'underwater' homes has had a tremendous impact on the current percentage of 'underwater' houses in our market.



Posted by David W. Welch on January 30th, 2015 2:47 PMLeave a Comment

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January 29th, 2015 12:06 PM

There are 12,018 homes for sale listed by Orlando Realtors® and 6,908 homes listed as contract pending. Of the homes still available for sale, 1,965 are foreclosures and 814 are short sales. Of the homes with contracts pending, 1,953 are foreclosures and 1,997 are short sales.

Way too early Orlando real estate sales statistics for January: 1,683 closed sales with a median sales price of $153,000. Inventory is down a little, and pending sales are up almost 10%. Closings seem a little week to me though.

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on January 29th, 2015 12:06 PMLeave a Comment

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