October 18, 2013
I like to get my holiday shopping done early and it looks like it will be a perfect weekend to get started. This weekend in Winter Park Village they will be having a sidewalk sale.
If you’re looking for a little more extreme fun? Try the Orlando Extreme Watersports Fest in Ivanhoe Village in Downtown Orlando this weekend. There will be waterskiing and wakeboarding competitions, demonstrations, and food and drink. Get tickets and more info. Or just do a little people watching from across the way at The Hammered Lamb!
October 14, 2013
1. Sell while the competition is still low. We are currently in a seller’s market in Orlando. A seller’s market is when we have low supply (number of homes) and high demand (number of buyers). Currently there are only three months of inventory available.
2. With high demand and low competition there is opportunity for multiple offers – meaning you have options and can negotiate the best offer for you and your family. Low supply and high demand equals higher prices in a lot of cases.
3. Get in before the market shifts again. With prices increasing, many other homeowners just like you have been waiting out the market and will list their homes soon. Since the market is improving many sellers will not want to be bothered during the holidays and plan to list in January. If you choose to wait like so many others, that’s just more competition when selling your home.
4. Florida weather in the fall is absolutely the best! Cool temperatures and fall scents and decor make it a great time to show your home. Show potential buyers how you entertain and host holiday gatherings by staging the house and setting up little vignettes with fall decor!
5. Start the New Year fresh! The average days on the market is about 67. There is still time to list and sell your Downtown Orlando home before January 1st allowing you to start 2014 with one less headache!
Bonus reason: The median price of homes sold in the Orlando area has increased almost 29% since last year!
So what are you waiting for? More competition?
To list your home today call us at 407-494-2820 or complete this form for a FREE guide to selling this Fall!
Stats via Orlando Regional Realtor Association – August 2012 versus August 2013
Image credit: Fall at two twenty one by Chefranden via Creative Commons
September 2, 2013
In the Orlando area, the home sales are up 24% from July 2012 to July 2013. With news of increasing sales prices in Orlando and across the country, home sellers are listing properties to take advantage of a hot market. The problem is that although the market has certainly shifted to a seller’s market in Orlando, only about 35% of the listing inventory actually sells. What about the other 65%? They’re probably overpriced.
This is a pretty common conversation I have with home sellers in any market; but particularly if the market is improving. Sellers want to get the most money possible so they will ignore clear indicators that buyers in the area are not willing to pay that price for a similar home. Pricing is an art not a science and there are many factors that play into the appropriate listing price. A great listing price is one that procures an offer or multiple offers and sometimes takes some adjusting along the way! Here are the top 5 signs your home may be overpriced:
- The National Association of Realtors® statistics show that if a home has been shown 10 times and has received no offers, it is overpriced.
- They also tell us that if we go two weeks without any showings we’re overpriced.
- If the feedback from other agents or buyers is that the house is overpriced, that’s a clear sign it’s time for a price reduction!
- If you continuously receive feedback about the home’s condition, floor-plan, or lack of updates those all translate to “house is overpriced”. There are many reasons why a home price may make sense on paper but if the actual buyers that are in the market don’t feel the same way – then you have to adjust the price. Price cures all things.
- Last but not least, your home is overpriced if the only offer you receive is particularly low. The lack of inventory may lead some buyers to make an offer on an overpriced listing in hopes they can get the seller down to reality. If you receive an offer that’s 10-20% (or more) lower than your asking price that is a sign that your home is overpriced.
Buyers will pay a premium for a nice home in good condition and in a good location; but they won’t grossly overpay. Price your home in the range of values for similar homes and if buyers are telling you they still don’t think that’s the right price make adjustments and do it quickly. It is always a snapshot in time and that means that the market value can change regularly. Keep up with the market around you and adjust when new comparable homes sell that affect your home’s value.
Find out your Orlando home value. We’ll get back to you within 24 hours with a brief market analysis.
Image credit: New Lower price by Rutlo via Creative Commons
Statistics via Orlando Regional Realtor Association
July 29, 2013
The average mortgage interest rate in Orlando rose to 4.25% in June. In May the average interest rate was 3.68%. That’s a pretty large jump, especially since we haven’t seen it crack the 4% mark in about a year and a half.
So what’s that mean? Higher interest rates are just a normal reaction to heavy demand. This was bound to happen with such low inventory and ridiculously low interest rates for so long. While rising interest rates could price some people out of the market, we don’t expect it to completely derail the progress that has been made to sales prices.
Since this time last year, the Orlando homes prices have risen 22%. That huge gain will not be squashed because of rising interest rates; but we probably will not see such a large gain again this time next year. The higher interest rates will temper demand slightly and the higher prices will slowly bring more sellers to the market – thus leading to a more balanced market. If you’re a buyer in the market for a home – I know you’re hoping that’s the case!
Interested in selling a home while demand is still so high in the Orlando housing market? You may finally have equity! Find out immediately today because timing is everything!
*Interest rate information provide by Orlando Regional Realtor Association and is based on a 30 yr fixed interest rate.
July 24, 2013
If you like a good Cuban sandwich you should definitely swing by ZaZa New Cuban Diner on Curry Ford South of Downtown Orlando. This place is one of my favorites. It’s not just the Cuban sandwich that makes it a delight. Anywhere where breakfast is served all day is my kind of place. The soft Cuban bread is an excellent choice for an egg sandwich and they have plenty of sweet pastries as well.
Aside from the food, I probably stop by on a weekly basis for a café con leche. Their caramelized sugar melts into the strong coffee and creates the perfect froth of milk on top. It is pretty sweet with sugar, so I typically ask for half sugar. Looking for a tasty treat, definitely try the Quesito. It’s a flaky cheese filled pastry that’s coated with a caramelized glaze…yum.
What’s your favorite place to grab a bite in the Conway or South of Downtown area? Want to live in the Conway Florida or South of Downtown Orlando Florida area? Search homes in these neighborhoods and be a part of the Downtown Orlando lifestyle!
Image: my own