Report: Orlando home values fall 19.5% - Orlando Business Journal:
Report: Home sales up nearly 52% in December - Orlando Business Journal:
As said previously it's Time! Prices have fallen but the buyers are stepping in and eating up excess inventory. At the current sales pace we only have a 7 month inventory, that's actually healthy. Everything isn't rosy of course I'm not blowing smoke here. If you are looking at buying and renting out, it's not a pretty market for that right now. You would need to either need to put enough down on property to beat the rental rates of other homes on the market or have the cash on hand to pay the mortgage for a number of months before you found a renter.
Rental vacancies: 28% of Orlando-area rental apartments, condos, town homes are vacant - OrlandoSentinel.com
In the past the Orlando market has had a number of investors. The tables have turned and we are looking at a revival of the people that want a primary residence. This is a good turn of events for price stabilization, no more quick flips.
If you have any questions about my sources or want some information on Real Estate in the Orlando Area, I can be contacted at:
tewasko@watsonrealtycorp.com or (407) 374-3493
No comments:
Post a Comment