Market Report – Bidding War

Can you believe it is already almost April?!  This year has flown by so far.  In the real estate business we will start to look at the first quarter and compare the activity to last year.  Are we headed in the right direction?

It seems that we are.  I recently did a presentation for the Mills 50 mainstreet district about the top reasons that we are headed in the right direction.  I left one thing out from the 5 factors that I discussed.  Heavy competition!

I haven’t put an offer in on a house in Orlando this year where there weren’t multiple offers.  That is huge!  Multiple offers means that the seller has the negotiating power.  I touched on the low inventory in my recent presentation to Mills 50 which is largely the cause behind increasing prices; but bidding drives prices up further.

No one has really mentioned that it is truly a sellers market in Orlando now.  Unless the listing is greatly overpriced or there is a functional issue, homes are selling very quickly and often times with multiple offers.  In many cases buyers are offering above listing price to ensure they get the house and are the winning bid.

This is a huge change from a few years ago.  For the buyers who wanted to “wait” until the prices hit bottom.  Sorry to tell you it’s too late.  The lowest median price was actually in around January and February of 2011.  When the market shifts it seems to happen in the blink of an eye and you cannot time it perfectly.  However, the market is still ripe with opportunities for buyers!   Don’t delay while the interest rates are still at historically low rates.  The average interest rate last month was 3.21%!!

Looking to find a home in Downtown Orlando, College Park, or Winter Park?  Search all the listings at ThinkDowntownHomes.com

Image Credit:  ”Getting in the Mix” from Everystock via Creative Commons License

 

Who Says There’s Nothing to do in Orlando? – Spring Weekend

As we head into the Spring, there are more and more outdoor events in the Orlando and Winter Park area.  This weekend is no exception!  Whether you are looking for something to spruce up your exterior or interior there is a place for you this weekend.

If you want to get your front yard ready for spring, stop by the Leu Gardens annual plant sale this weekend near Audubon Park.  I have personally purchased many things and it is a great way to spend a spring day!  Bring a cart if you plan on buying anything so you can transport the plant back to you car.

Saturday, March 16 & Sunday March 17
9:00 am – 5:00 pm

If you are in the mood to change things up in your house, stop by the Annual Winter Park sidewalk Art Festival.  ”The Winter Park Sidewalk Art Festival is one of the nation’s oldest, largest and most prestigious juried outdoor art festivals, consistently rated among the top shows by Sunshine Artist and American Style magazines.”  Each year more than 350,000 visitors enjoy the show.  It’s a great place to find some inspiration for an interior space.

Friday, March 15th, 9 AM to 6 PM
Saturday, March 16th, 9 AM to 6 PM
Sunday, March 17th, 9 AM to 5 PM

Do you have any weekend plans?

Image credit:  personal

 

Who Says There’s Nothing to do in Orlando? – Outdoor Fun

The weather outside is gorgeous for this time of year!  Tomorrow the high is 70 and sunny!  It is a perfect Saturday to get outside and enjoy living in Orlando.  I don’t know if you have seen the street banners in Winter Park lately; but there is a website address posted on them called FindActiveFun.org.  I checked out the website and it is pretty neat.  You select your zip code, date, neighborhood, budget, environment, and whether or not you want to include pets.  Then the site filters active events in Orlando for you based on your criteria!

There are plenty of great ways to get active and/or enjoy the outdoors in the Central Florida area.  Get out and have some fun this weekend!  There are plenty of local farmer’s markets in Orlando to check out.

In full disclosure, for those adverse to cold weather, it’s supposed to be pretty chilly on Sunday but a nice jacket and you’ll be just fine.

Enjoy your weekend!

 

Image credit:  photo taken by Jessica Ruthardt in Downtown Orlando 

 

 

Go Local Wednesdays – Valentine’s Day Ideas

What are your plans for Valentines Day?  I’m not a huge fan of the holiday myself.  It might be the worst night of the year to make dinner plans so I think my significant other and I will order a yummy stuffed pizza TO GO.

If you aren’t a home body like me, here are a few ideas to enjoy Valentine’s Day in Orlando!

Winter Park:  A movie under the stars sounds like a romantic date for v-day.  Enzian’s Popcorn Flicks in the Park will start at 7 pm tomorrow at Central Park in Winter Park.  The movie of the night is a classic From here to Eternity.

Downtown Orlando:  Thornton Park’s 2nd Thursday wine walk is a pretty inexpensive date and sure to be enjoyable.  You can stroll through the new Thornton Park Main Street district from 6:30 – 10 pm and stop at various shops, restaurants and bars.  For only $10/person you complimentary wine/beer/little bites at various stops.

If you’re recently single or just hate Valentine’s Day, the Love Stinks Party at Neighborhood Rogue sounds interesting.  Stop by the fire pit and burn pics of your exes.  Check out more info on the Facebook event page.  This is just around the corner from the wine walk so there are discounts available for wine walk participants.

Hope you have a Happy Valentine’s Day!

 

image credit:  The finished product via Creative Commons

 

New Year’s Resolutions + Cupcake Happy Hour

I don’t know about you but 2012 was a great year.  These last few weeks have been extremely crazy and often times the blog is the first thing to slack when I get busy.

My New Year’s Resolution is to be consistent with the blog.  I hate going to people’s blogs and the last post was from 2010!  I have been working hard trying to provide daily content.  Since I personally write all of my posts that can be a little time consuming for a busy agent like myself.   My goal for 2013 is to provide three posts a week to keep you up to speed on the real estate market in Downtown Orlando and Winter Park and the other events and local businesses who drive these communities.

My most popular categories in the last year have been the Monday Market Reports, Go Local Wednesdays, and the Friday posts titled “Who Says There’s Nothing to do in Orlando?”.  And so I look forward to providing you more of these types of posts 3 times a week so I can keep it consistent and relevant!

I hope you have enjoyed your holidays and I look forward to bringing you more content in the New Year!

P.S. It’s the first Friday of the month and that means Cupcake Happy Hour at Blue Bird Bake Shop in Audubon Park from 5-7 pm.  What a great way to  start the first weekend of the New Year?! Enjoy!

Image:  Personal Image taken of the Sanctuary Condos in Downtown Orlando 

 

Go Local Wednesdays – Small Business Saturday Where to Shop

HAPPY THANKSGIVING!  As many of you know Small Business Saturday is this weekend across the country.  These local businesses are what make our neighborhoods and communities such a great place to live.  If you’re out and about this weekend remember to shop local Orlando!  Here are a few websites to find locations of small businesses in the Orlando area with plenty of places to shop or dine this Saturday.

Winter Park 

Winter Park – Park Ave.

Winter Park – Hannibal Square 

College Park 

College Park – Edgewater Dr. and surrounding 

Another College Park directory for small businesses

Downtown Orlando neighborhoods

Downtown Orlando shopping - Central Business District

South Eola District  - Area South of Lake Eola

Thornton Park – Washington Ave.

Mills 50 District - Near where Mills Ave and Hwy 50 intersect

The Milk District – Robinson St near Bumby and Primrose

Ivanhoe Village – Orange Ave through Loch Haven Park area

Downtown South (SODO) area 

Audubon Park – Corrine Dr. (the photo is an image of a favorite shop of mine – Dear Prudence)

Baldwin Park 

Baldwin Park Village Center

 

What are your favorite local Orlando shops?

P.S. Please feel free to send me more suggestions for Orlando shopping and dining!

 

Monday Market Report – How Refinancing Can Help You

For this Monday market report we have invited a guest blogger to fill you in on the mortgage industry and a buzz worthy topic in today’s market.  Refinancing has always been around in the mortgage business; but in more recent years most homeowners have not been able to take advantage because they are underwater on their homes.

Recent programs such as HARP 2.0 and the Streamline FHA Refinance are designed specifically to help those underwater homeowners.  Finally first-time home buyers are not the only people taking advantage of the historically low interest rates in today’s market.  Often times with these new programs you are able to refinance without even ordering an appraisal!

Michelle Knight of Integrity Home Loans shares with us how refinancing your current mortgage can help you:

Michelle Knight 
Sr. Loan Officer
Integrity Home Loan of Central Florida, Inc.
708 E Colonial Dr. Suite 203
Orlando, FL 32803
Cell:  321-663-2795
Fax:  407-601-3850
Office:  407-982-2271
NMLS# 465671

 

“There are several reasons why refinancing your existing mortgage could be beneficial.  The most common reason is to lock in a lower interest rate on your loan.  Others refinance in order to switch from an adjustable-rate loan to a fixed-rate loan (or vice-versa), to stop paying private mortgage insurance (PMI), or to cash out of your home’s equity.

Individuals planning to sell their home within 3-5 years can save hundreds of dollars per month by switching from a fixed-rate to an adjustable-rate mortgage (ARM).  ARMs average around two percentage points less than fixed-rate loans.  At today’s rates that can mean BIG savings – mortgage industry experts forecast that rates will likely remain under 4 percent until mid-2013.

Be cautious though, I only suggest switching to an ARM if you have a qualified mortgage professional who can explain how the program applies to your unique situation.  Specifically speaking, at what time your payment can adjust and the maximum it can increase.

To decide if refinancing is right for you research the costs; including points, transaction fees, and closing costs.  Compare your new payment amount with your current payment and figure out how long it will take you to recover the costs.  It may not be cost effective if you plan to stay in the home for less than 3 years.”

Thanks to Michelle for guest blogging today!  For more information on refinancing your Orlando home or to discuss your unique situation please feel free to contact Michelle at 321-663-2795.  Or if refinancing is not for you, contact us to learn more about selling your home in Orlando or Winter Park at 1-800-859-5714.

 

Go Local Wednesdays – Prato in Winter Park

A few weeks ago I visited Prato in Winter Park for a business lunch and was very impressed with the entire experience.  I wouldn’t consider myself a food expert by any means of the imagination, but I like to think I know good taste!  And I have to say the design and menu of Prato were put together in very good taste.

My business partner suggested the location because of the central location and from the minute I arrived I was pleasantly surprised.  Without having even taken a bite to eat I was already swooning over the place.  The exterior features amazing arched window-paned doors and flickering lanterns.  The interior is the perfect mix of modern and rustic with exposed beams on the ceiling, exposed brick and horizontal wood panels on the wall, an expansive open bar, and a wall of indoor plants.  They have truly created an environment that is comfortable and perfect for sharing a stone fired pizza and enjoying a craft cocktail.  They describe the menu as Italian classics with modern techniques and seasonal ingredients and I would have to say that pretty much nails it!

It was lunchtime so I skipped the cocktail, but I have been told they are tasty and hope to head back and try one soon!  Have you tried Prato yet?  The New York Times listed Prato as one of the spots to be sure to dine when in Winter Park!

What other great places have you tried lately?

Want to live the Winter Park lifestyle?  Contact us about buying a home in Winter Park.
ThinkLiveBe Properties
Kathryn Stelljes PA – Selling Downtown Orlando, College Park, and Winter Park
1-800-859-5714 ext. 0
info@ThinkLiveBe.com

 

To Stage Tuesdays – Add Real Value

Sorry I have been out of commission for a while!  I took an unexpected trip to the emergency room when my significant other came down with a terrible virus.  He is doing well now after a blood transfusion and some meds – thank goodness!  It is nice to be back to a normal routine…well as normal as the real estate industry can be.

Recently I wrote an article for our Orlando real estate e-newsletter about 5 ways to Add Real Value.  One of the top improvements is a kitchen remodel.   A minor kitchen remodel can provide a great return on your investment.  As I have said before, kitchens and bathrooms sell homes!   So I found this great article about strategies for a smooth kitchen remodel – enjoy!

• 
  
  

  7 Smart Strategies for Kitchen Remodeling

  Kitchen remodeling can turn a ho-hum room into your home’s pride and joy. Here are strategies to help your project run smoothly. Read

Visit houselogic.com for more articles like this.

Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®

Contact us today about improving your home to sell quickly!  Selling Downtown Orlando,
Winter Park, and College Park!
ThinkLiveBe Property Team
Kathryn Stelljes PA – Listing Specialist
1-800-859-5714 ext. 0
info@ThinkLiveBe.com

 

Go Local Wednesdays – Indoor Farmer’s Market

If you haven’t already heard there is an awesome new indoor farmers market coming to Orlando soon!  Not surprisingly the developers decided the trendy Audubon Park area was the perfect spot for this venture.  Audubon park is an established area that has been growing in popularity among homebuyers and shop/restaurants owners.  The proximity to downtown Orlando, winter park, and baldwin park make this an ideal spot for the market.  Audubon Park currently holds a small outdoor market on Monday nights from 6-10 pm.  

The East End Market will be located on Corrine Dr. and will feature two stories of small independent food enterprises, a farm fresh restaurant, and space upstairs for things like demonstration kitchens and/or small retail shops.  Outside they will have a vegetable garden with Florida varietals.

Check out 2-story market coming soon!  Orlando Indoor Farmers Market

Image Credit:  East End Market Website