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Orlando Real Estate

September 26th, 2016 1:06 PM
Buying or selling, makes sure you work with an experienced agent. Here are some of my past sales.



Posted by David W. Welch on September 26th, 2016 1:06 PMLeave a Comment

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September 21st, 2016 11:28 AM
Be sure to check out my site RealT-Orlando.com powered by Zillow. #OrlandoRealEstate


RE/MAX 200 Realty

Posted in:Listings and tagged: Orlando real estate
Posted by David W. Welch on September 21st, 2016 11:28 AMLeave a Comment

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September 15th, 2016 12:09 PM

 

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on September 15th, 2016 12:09 PMLeave a Comment

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September 13th, 2016 2:27 PM

August sales remain strong, even as inventory continues to decline. There are currently only 9,847 homes listed as active by Orlando Realtors®. Based on last month's absorption rate, that is just under a 2.75 month supply of inventory available for sale. Of the properties listed as active, 421 or 4.3% are REO, 229 or 2.3% are short sales and 9,197 or 93.4% are traditional equity sales.

The drop off in distressed properties has also been driving down the pending sales. There are currently 6,145 properties listed as either active with contract or pending. Of the properties with contracts on them, 592 or 9.6% are REO, 979 or 15.9% are short sales and 4,574 or 74.4% are equity sales.

Closed transactions in August were still very strong with 3,582 homes selling with a median sales price of $202,300. Both sales and prices are up compared to a year ago, with sales up just over 12% and the median price up nearly 12% as well. Of the properties that sold last month, 377 or 10.5% are REO, with a median price of $129,100; only 89 or 2.5% are short sales with a median price of $157,000; and 3,116 or 87% are equity sales with a median price of $215,000.

Cash sales still make up 32.2% of the closed transactions with 1,153 closing last month with a median price of $139,900. Financed sales made up the remaining 2,429 or 67.8% of the closed transactions with a median price of $224,000.

David Welch Real Estate Optimist, Orlando Real Estate


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on September 13th, 2016 2:27 PMLeave a Comment

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Please check out the latest #OrlandoRealEstate market summary for July 2016 provided by the Orlando Regional Realtor® Association.



Posted by David W. Welch on August 15th, 2016 1:26 PMLeave a Comment

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August 10th, 2016 3:22 PM

Inventory is up a bit, and sales are down a little from June, but prices are holding steady. Currently, there are 10,054 homes of all types listed as active by Orlando Realtors®. Of those active listings, 443 or 4.4% are REO, 237 or 2.4% are short sales, and 9,374 or 93.2% are traditional, equity sales. Based on July's absorption rate, we still have less than a 2.9 month supply of inventory active on the market.

Pending sales are also down a bit this month with 6,354 homes listed as either pending or active with contract. Of those properties with contracts on them, 649 or 10.2% are REO, 968 or 15.2% are short sales and 74.6% are equity sales. 

Although sales were down compared to June, they were slightly stronger than the same month a year ago. The 3,474 closed sales last month was just over 2.5% higher than July 2015's closings of 3,388. The median price however was up double digits compared to last year. The median sales price last month was $205,000 compared to $183,900 a year ago. That is an 11.4% increase in the median price overall. Of the closed sales last month, 322 or 9.3% are REO with a median price of $122,805; 116 or 3.3% are short sales with a median price of $128,500; and 3,036 or 87.4% are equity sales with a median price of $219,000.

The 116 closed short sales represented 12.0% of the pending short sales, and took on average 251 days to close. Of the closed sales last month, 1,039 or 29.9% are cash transactions with a median price of $132,000. The remaining 2,435 or 70.1% of the sales closed with some type of financing with a median price of $227,000.

David Welch Real Estate Optimist, Orlando Real Estate


Posted by David W. Welch on August 10th, 2016 3:22 PMLeave a Comment

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Please take a moment to watch this short video provided by the Orlando Regional Realtor Association with market highlights for June 2016. To stay updated on the very latest market trends and more, stay right here on my top ranked blog RealEstateOptimist.com.



Posted by David W. Welch on July 15th, 2016 11:02 AMLeave a Comment

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July 12th, 2016 3:40 PM

Inventory is up just a tad, but at the current absorption rate, there is just a 2.65 month supply of homes available in Orlando. Currently, there are 9,975 homes of all types listed as active by Orlando Realtors®. Of those, only 464 or 4.7% are REO, 263 or 2.6% are short sales, and 92.7% are traditional equity sales. Pending sales are down a bit at 6,678 with 666 or 10.0% REO properties, 1,037 or 15.5% short sales and 4,975 or 74.5% equity sales being listed as either active with contract or pending.

Close sales for the month are very strong with 3,769 consummated transactions last month with a median price of $205,000. Total sales are up 4.6% from a year ago, and prices are up nearly 13,9%. Of the closed sales in June, only 393 or 10.4% are REO with a median price of $124,500; 117 or 3.1% are short sales with a median price of $160,000; and 3,259 or 86.5% are equity sales with a median price of $215,000. Cash sales have plummeted as prices have risen. Only 1,077 or 28.6% of last months sales closed for all cash with a median sales price of $132,000. The remaining 2,692 or 71.4% closed with some type of financing with a median price of $223,515.

David Welch Real Estate Optimist, Orlando Real Estate


Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on July 12th, 2016 3:40 PMLeave a Comment

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Check out this video courtesy of RE/MAX LLC breaking down the national housing report for June 2016. Nobody sells more real estate than RE/MAX. To keep up with the latest market updates for Orlando, stay right here on RealEstateOptimist.com.



Posted by David W. Welch on June 29th, 2016 8:02 AMLeave a Comment

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Here are a few things I see trending in Orlando real estate.
  • Interest rates continue to defy the conventional wisdom that what goes down, must go back up. We are sitting just below 4%, but everyone is sure mortgage rates will rise. 
  • Prices, on the other hand are rising. For the first time since 2008 (that's eight years folks) our median sales price is over $200k. We do tend to see higher prices in June and July, since those are the hottest two months for families with children (i.e. bigger houses) to purchase homes. Still, we have seen year over year increases each month for nearly five years straight now. 
  • Our inventory has finally leveled out, but it is at a level that is consider low and favoring sellers. We are currently running just about a 3 month supply of homes available for sale.
  • New agents flooding the market place. Nationally, about 25% of all Realtors joined in the last two years. Here in Orlando, that number is nearly double with 48% of local Realtors joining in the last 24 months. We currently have over 12,000 agents, but fewer than 10,000 active listings.
  • TRID influence on our market is negligible. The crappy mortgage lenders 'big banks' use it as an excuse to take forever to make a loan. The good lenders 'local' are still closing deals like before TRID.
Rents are still crazy, and there is nothing available it seems.  I think this may be changing a little though with all the new apartments being built. Orlando is once again adding jobs at a faster pace than most places around the country. The rising prices also seems to have more builder activity, but they seem to be offering a lot of perks which means the higher market still hasn't quite caught up. REO properties are few and far between, YAY!
All in all, Orlando real estate is definitely back on track.

Posted in:Market Report and tagged: Orlando real estate
Posted by David W. Welch on June 27th, 2016 8:38 AMLeave a Comment

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