Orlando Real Estate

July 23rd, 2014 11:39 AM

There are 12,093 homes for sale listed by Orlando Realtors® and 7,870 homes listed as contract pending. Of the homes still available for sale, 1,915 are foreclosures and 1,119 are short sales. Of the homes with contracts pending, 1,662 are foreclosures and 2,877 are short sales.

Too early Orlando real estate sales statistics for July: 1,695 closed sales with a median sales price of $170,000. Inventory is continuing to rise while pending sales are declining. New listings last month slowed from May, but still way outpaced new contracts.
David Welch Real Estate OptimistOrlando Real Estate


Posted by David W. Welch on July 23rd, 2014 11:39 AMPost a Comment (0)

This is a sample of the type of information and advice I share on my website. If you are thinking of selling or buying, check it out then give me a call so we can discuss your next steps.

Inspect the outside ground. Remove any building materials, scrap wood, discarded household items, etc. from the property. Store garbage cans in the garage.

Check the home from the roof line down.

  • Is the roof free and clear from obstructions and moss?
  • Are the gutters clear and neatly hung?
  • Are the windows clean and free from obstructions (such as overgrown bushes or trees)?
  • Are bushes, trees and shrubs neatly pruned?
  • Inspect the condition of the paint or siding?

  • Is it time to power wash the siding?
  • Is touch up paint needed?
  • Is the front door in good shape?
  • Do flower beds need an upgrade?

  • Are plants neatly pruned?
  • Is the bed free and clear of weeds?
  • Is the bed properly mulched?
  • Are flowers in bloom?
  • Keep the lawn neatly groomed.

  • Is the lawn free from weeds?
  • Is the lawn free from grass clippings?
  • Is the lawn neatly edged?
  • Orlando Real Estate
    by David Welch


    Posted by David W. Welch on July 21st, 2014 7:59 AMPost a Comment (0)

    July 15th, 2014 11:26 AM

    There are 12,021 homes for sale listed by Orlando Realtors® and 7,827 homes listed as contract pending. Of the homes still available for sale, 1,963 are foreclosures and 1,125 are short sales. Of the homes with contracts pending, 1,554 are foreclosures and 2,934 are short sales.

    Way too early Orlando real estate sales statistics for July: 919 closed sales with a median sales price of $170,000. Inventory is continuing to rise including traditional, REO and short sales while pending sales are declining. New listings last month slowed from May, but still way outpaced new contracts.
    David Welch Real Estate OptimistOrlando Real Estate


    Posted by David W. Welch on July 15th, 2014 11:26 AMPost a Comment (0)

    Header
    Header_2
    Listings Photo
    $499,900.00
    1751 Blue Ridge Rd

    Winter Park, FL 32789



    Beds: 4 Rooms: 0
    Full Baths: 2 Sq. Ft.: 3113
    Garage: 0 Built: 0
     

    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 July 14th, 2014 2:43 PMPost a Comment (0)

    These loans take time. 
     1-Contract closing date less than 60 days.
     2-Appraisal due in less than 40 days.
     3-Loan commitment in 30 days.
     4-Appraisal before repair bids are complete.

    Timing is everything.
     5-Utilities not on before inspections.
     6-WDO scheduled after cost consultant inspection.
     7-Not setting up inspections in a timely manner.
     8-Not setting up contractors in a timely manner.
     9-Not accepting bids in a timely manner.
    10-Not getting your paperwork completed in a timely manner.

    Work with the right team.
    11-Not hiring an inspector that is a certified renovation cost consultant.
    12-Not choosing a contractor who is already certified to work on renovation loan projects.

    If you are considering purchasing a fixer upper, start with the right team. Contact me, and let me get you in touch with the right lender to guide you through this process. These common mistakes were provided by Kelly Taylor with FBC Mortgage, LLC.

    Posted by David W. Welch on July 11th, 2014 2:19 PMPost a Comment (0)

    July 9th, 2014 3:52 PM
    If you read my blog regularly, then you know I am posting the June statistics later than usual. We have a new MLS system as of last month, and I am trying to give the numbers a little more time to digest. It seemed like sales data really slowed down, and I was concerned some information was not in yet. Hopefully, we are caught up now. There certainly has been nothing wrong with entering new listings, because we are now up to 11,839 properties listed active by Orlando Realtors. Of those active listings 1,927 or 16.3% are REO, 1,111 or 9.4% are short sales and 8,801 or 74.3% are equity sales.

    Pending sales have slipped though with only 7,882 currently listed as having a contract pending. Of the properties with contracts on them 1,557 or 19.8% are REO, 3,013 or 38.2% are short sales and 3,312 or 42.0% are equity sales. Unlike the MLS and the association statistics that break out properties in the Active With Contract status, I include them in my pending count. If you have a contract you have a contract, and I find the use of this status misleading at best to the public.

    There were 3,011 closed sales in the month of June with a median sales price of $164,830. I had expected 3,000 sales, then when things slowed I began to be concerned, but we made it. Of the closed sales 804 or 26.7% were REO with a median price of $104,500; only 243 or 8.1% were short sales with a median price of $131,000; and 1,964 or 65.2% were equity sales with a median price of $191,900. Successful short sales continue take on average nine months from listing to close. The 243 closed short sales accounted for only 8.1% of the pending short sales. At that pace it would take over 16 months to close the remaining inventory of active and pending short sales.

    Cash sales remain strong, but continue to show signs of weakening. There were 43% or 1,295 of the closed sales were all cash transactions with a median sales price of $111,069. The remaining 57% or 1,716 sales had some type of financing and closed with a median price of $196,500. At the current sales pace there is about a four month supply of available inventory. With listings continuing to rise and the expected fall slow down in sales around the corner, the months supply will rise to six by the end of the year.

    Posted by David W. Welch on July 9th, 2014 3:52 PMPost a Comment (0)

    July 8th, 2014 8:14 AM

    There are 11,807 homes for sale listed by Orlando Realtors® and 7,891 homes listed as contract pending. Of the homes still available for sale, 1,945 are foreclosures and 1,104 are short sales. Of the homes with contracts pending, 1,530 are foreclosures and 3,033 are short sales.

    Way too early Orlando real estate sales statistics for July: 301 closed sales with a median sales price of $178,500. Inventory is continuing to rise including traditional, REO and short sales while pending sales are declining. These are not good trends, but I think there are a lot of overpriced homes on the market.
    David Welch Real Estate OptimistOrlando Real Estate


    Posted by David W. Welch on July 8th, 2014 8:14 AMPost a Comment (0)

    June 30th, 2014 11:30 AM

    There are 11,682 homes for sale listed by Orlando Realtors® and 8,180 homes listed as contract pending. Of the homes still available for sale, 1,859 are foreclosures and 1,087 are short sales. Of the homes with contracts pending, 1,616 are foreclosures and 3,107 are short sales.

    Early Orlando real estate sales statistics for June: 2,382 closed sales with a median sales price of $161,000. Inventory keeps rising, but closed sales really appear to have slowed. I had expected 3,000 sales, but I am not so sure now.

    David Welch Real Estate OptimistOrlando Real Estate


    Posted by David W. Welch on June 30th, 2014 11:30 AMPost a Comment (0)

    June 30th, 2014 8:12 AM

    If you are selling or buying a home that is over 25 years old, the buyers insurance company may require a four point inspection report before writing a home owners policy. The four points of the report are: roof, electrical, plumbing and mechanical (HVAC). If one of these points is a problem, the buyer may have trouble getting coverage. If two or more points are problems, they are probably not going to find insurance for the property.

    The roof may be the most obvious potential issue on this list. If you have an old leaky roof, you may not be able to get insurance. Quite frankly, if the roof looks suspiciously old it may not even pass an appraisal. Roofing standards changed after the 2004 hurricanes, and a roof put on after this change may actually reduce the cost of insurance.

    Electrical issues come in one of two forms: aluminum wiring and the electrical distribution panel. Aluminum wiring is usually seen in homes built in the early 70's. Certain electrical panels such as Federal Pacific, FPC and Stab-Loc are the usual supects. You do not necessarily have to re-wire a house if it has aluminum wiring, but insurance may be a bit more costly. Replacing an electrical panel usually costs between $600-$1,200 depending on the type and location.

    Plumbing problems for insurers usually comes in the form of polybutylene piping. This was popular for years, but I see a lot of homes plumbed or re-plumbed in the 80's and early 90's with poly. The gray piping has had a bad reputation with insurers for quite a while now. If it has plastic connectors watch out, because it is going to leak. Brass connectors are best. If the home was built after about 1996 it should not have poly at all.

    The temperature has already been in the 90's for over a month down here in Orlando, but if you don't have a working heater it may be hard to close a financed sale. I do not recall an insurer taking exception with an air-conditioning system, yet. I am sure there are examples I just have not run into. If the buyer is using FHA, VA or USDA financing though, they will almost certainly need to have a working heater.

    The single most common solution every seller and buyer wants to use to "fix" an insurance problem is to call the seller's current insurer. To put it bluntly, that does not work. No insurance company cares that they have covered you for 40 years. New buyer, new policy, new rules. In fact your trusted insurer probably won't cover you in your next house either. Selling or buying it pays to be aware of these potential issues and be prepared to either remedy them or pay a higher premium.


    Posted by David W. Welch on June 30th, 2014 8:12 AMPost a Comment (0)

    June 27th, 2014 2:05 PM

    There are 11,630 homes for sale listed by Orlando Realtors® and 8,219 homes listed as contract pending. Of the homes still available for sale, 1,828 are foreclosures and 1,091 are short sales. Of the homes with contracts pending, 1,640 are foreclosures and 3,110 are short sales.

    Way too early Orlando real estate sales statistics for June: 2,197 closed sales with a median sales price of $160,000. Inventory is rising, but closed sales really appear to have slowed. I don't know how much of that is attributed to the issues we have had with our new MLS.

    David Welch Real Estate OptimistOrlando Real Estate


    Posted by David W. Welch on June 27th, 2014 2:05 PMPost a Comment (0)

    Archives:




     
    State:
    County:
    City:
    Zip: