Monday Market Report – A Difficult Situation

The Orlando real estate market has really shifted over the last year and although we are seeing multiple offers in many situations and prices increasing slightly, there are still issues at hand.

Due to the extreme shift, appraisals in some cases can’t keep up with the active and pending prices.  Appraisers typically pull comparable sales from the last few months.  Things have moved so quickly that homes sold in the last 3-6 months may not match the listing prices and the sometimes higher than asking price offers.

This creates a situation where a buyer may have to pay over appraised value to get the home that they want because if they don’t there is probably someone else who is willing and able.  This isn’t true in every situation but it is starting to feel like the boom years and I’m not sure it’s a good thing.

All in all, we do sort of expect this high demand/low inventory scenario to keep up through the end of the year as large investor groups will continue to buy up homes and compete with primary home buyers.  Then it will probably start to fade a little as prices rise to levels where investors are no longer comfortable.

Once that happens, things will maybe return to a normal or equal market for a while.  We do still have a lot of pent up demand and inventory that will creep onto the market probably at a pretty similar rate in the future.

Don’t get me wrong I love quick offers and higher sales prices, but I think we have seen that  cannot sustain for too long before things level off or shift again.  Have you experience increasing home values in your neighborhood?  If you have been thinking of selling, now is a nice window of opportunity where you have little competition and very solid sales prices.

Contact me today for more info at 407-494-2820 or visit ThinkLiveBe.com to get a quick market analysis for free.

Advertisements

About Kathryn Stelljes PA

I am a Realtor in the Downtown Orlando area. I have earned a Bachelor's Degree in Marketing and a degree in Residential Planning. My background in these design fields has advanced my ability to sell in the realm of residential real estate. As a native Floridian and resident of Downtown Orlando I understand the growing needs for homeowners in the Central Florida home market and specifically the Downtown market. I enjoy sharing information about businesses, fun events, and the historic homes and neighborhoods that make Downtown Orlando such a unique and vibrant place to live. I love Italian Greyhounds, old houses, interior design and design blogs, social media networking, and anything marketing related.
This entry was posted in Economy, HomeBuying Trends, Monday Market Report, Orlando News, Real Estate Market, Real Estate News and tagged , , , . Bookmark the permalink.

One Response to Monday Market Report – A Difficult Situation

  1. Pingback: Monday Market Report – What’s the Value in Going Green? | Downtown Orlando Living

Tell me what you think

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s