Real Estate Market


spring

Many people ask what time of year is the best time to sell a home.  That answers depends on what part of the country you are located and the general market in your neighborhood.  Here is Orlando, our busiest seasons for home sales are spring and summer.  But if that’s when the buyers are closing on a home in Orlando, that means they started searching for a home a few months earlier.  It typically takes about 30-45 days to close on a home that is being financed.  A buyer usually takes a little time to view homes before making a decision, so you want to be “on the market” when the most buyers are searching for homes…not when they’re closing on them!

Last year the most Orlando homes went under contract in April and May.   Listing during the months where the most pending activity takes place ensures you’ll have the maximum buyers searching and therefore obtain your highest offer for this market.

So why list now?

1.  Home Values are Up
The median sales price took a dip in January, but it’s back on the rise and so are the number of sales. Last month there were 12% more sales than January and 19% more than that time in 2014.

2.  Competition is still relatively low
The more listings that are for sale the more competition you have when trying to sell. The number of listings was increasing pretty quickly last year but it seems to have slowed just a bit in the new year.  Take advantage of this sooner rather than later!

3.  Get on the market before everyone else does!
As the market improves, inevitability more people will attempt to sell their home.  Don’t wait for everyone else to jump on board (see #2).  List now to attract the buyers in these busy months.  Other sellers will wait to sell during the summer because its more convenient for moving or they have heard it’s the busiest time of year.  Don’t wait and risk your chances of selling while the buyers are searching!

Thinking of selling your Downtown Orlando, College Park, or Winter Park home?
Contact us today to get your home sold quickly and for top dollar

407-494-2820 Office line – ask for Kathryn or fill out this form and we’ll be in touch shortly!

1230MountVernonSoldAre you preparing to list your home this spring and move to another city or buy another home?   Maybe you want to move this summer while the kids are out of school.  If any of this sounds familiar, this article is for you!

Before planning a move you need to understand the time constraints to sell your home.  If you need to be in a new city or in a new home by a specific time, it will affect how we need to market your home.  Any delay in the home sale or lag in time on the market can really disrupt your plans.

As of our last market update from the Orlando Regional Realtor Association, the average days on the market in Orlando are about 82 days.  It has been creeping up for the last 5 months.  It takes on average about 10 days longer to sell a home this year than it did last year.

The market is shifting back into what we call a balanced market.  This occurs when there is a balance between buyers and sellers and we have about 5-7 months of inventory available for sale.  In some parts of town it could take you a little longer to get moving.

Real estate is a very local industry; so in your neighborhood the average days on the market could be 15 or even 120!

  • If homes sell more quickly in your neighborhood, you may need to wait to list until you have your next home selected and under contract before you list.  Timing a simultaneous move can be tricky – call us immediately if you need to buy and sell at the same time (407-494-2820).
  • Or if your average days on the market in your area are much longer than normal, then perhaps you need to plan to list sooner rather than later.

As always, the first step to any move is selecting a real estate professional.  We can help you understand the market in your neighborhood and time things properly for your move.   If it takes 60 days to get your home under contract, it may take another 30-45 to close.  So if you want to be moving this summer, you may actually want to get started preparing today!  Contact us to learn more Kathryn@ThinkLiveBe.com or 407-494-2820

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I am currently attending our company’s annual real estate conference. Yesterday we had what is called the Vision speech. This is a look at the trends and forces that will drive the real estate market in 2015. And all of the signs point to it being an amazing time to be buying or selling. It is a balanced market – right where you want to be to make wise real estate decisions and opportunity for all. So my question is where do you want to move this year? You should love where you live and there are opportunities to break into a neighborhood you didn’t think was possible by selling and moving up!

If you could move anywhere in Orlando where would it be? I love my neighborhood but here are some of my other favorites right now and why.

Lake Formosa – (Take Our NEW Neighborhood Video Tour)  home of industrial warehouses and beautiful lake views. It’s an eclectic mix and although the landscape will be changing with the upcoming The Yard project; it provides walkability, history and views. Originally established in 1911 you can see the charming bungalows throughout and feel the history along the railroad. And the Orlando Urban Trail is literally in your back yard to take you anywhere your little bike-riding heart desires.

Lake Como – always a favorite of mine.  This neighborhood is truly a community. The location just southeast of the Central Business District of Downtown Orlando makes it convenient and the neighbors make it a perfect place to call home. The home styles are a nice mix of homes with history and charm all circling around the park and lake where walking your dog and chatting your neighbors is what makes it so special.

Lancaster Park – this neighborhood is full of huge oak trees. All of the Downtown Orlando neighborhoods are known for their oak trees and brick streets, but the main entrance to Lancaster Park is just the perfectly shaded old Florida spot! Located near the ever-growing Orlando Regional Medical Center (ORMC) it is convenient but it feels so secluded and private – not to mention the pride in ownership is evident at every turn. And did I mention the lake views?! Walking the dog is an enjoyable task in this neighborhood!

 Do you love where you live? Find your dream home today.

We think you should love where you live.  Why settle for a home that’s too small or doesn’t have a garage or a pool when the market is full of opportunity.  Over the last 10 years many homeowners did not have the equity to make a big move.  With the improving market the median price is up 9.61% higher than the 2013 annual median price.  You may finally have equity to sell at a profit and buy something larger with an extremely low interest rate.  It is the perfect sweet spot to make the move into your dream home.

 

And if you purchased your home in late 2010-early 2012 you’re in luck because that was the lowest point in the Orlando real estate market.  So you may have quite a bit of equity to make your Orlando dream home possible!

We set up a simple way to get started today.  Just visit www.HeartOrlandoHome.com and either start your search for your dream home or find out how much you have in equity to put towards the move.

Love where you live!  #heartorlandohome

holiday sale imageMany people think the holiday season is not a good time to sell a home. That is a myth.

In fact, almost every year there is a slight up-tick in the number of homes sold in December.  Right now, many Orlando home sellers are withdrawing their listings or deciding to wait until January to list.  They are hesitating because of this Myth and the idea that it might be inconvenient to sell over the holidays.  But that opens up great opportunities for the serious sellers and serious buyers out there!

Why Is there an increase in sales in December?

Well, there are many reasons that buyers try to close by the end of the year

–  a variety of tax purposes
– being relocated from one place to another
– they want to move while kids are out of school on a holiday break
– lease expiring at the end of the year
– have some vacation time left and it’s a good time to move
– etc

So why List your Orlando Home Right NOW?

  1. Buyers who are moving in the holiday months are usually very motivated by the above reasons.  And these serious buyers are looking for homes right now.  It takes approximately 30-45 days to close a loan.  Therefore, most buyers are searching for that special home starting now.
  2. Because many sellers think it is too inconvenient or have heard that it’s a bad time to sell; some are beginning to withdraw their listings and “take a break” from selling. That means less competition during the next few months.  Less competition means a quicker sale and more negotiating power for the smart sellers!

So what are you waiting for?  Take advantage of the opportunities this holiday season.  Whether you are moving up, downsizing, or just trying to unload some investment property – this is the time!  If your are interested in selling a home in Orlando give us a call at 407-494-2820 or contact us below.

new signCan you believe it is almost October?!  This year is going by  so quickly, but there is still time to move this year and get into a NEW home!

Here are a few things to consider if you want to sell your Orlando home before January 1st:

1.  First things first, the Fall is a good time to list your home.  Many people may decide not to list during the holidays.  And that is good news for you because that means there is less competition!  Another perk for listing during the holiday season is that most buyers that are searching are as serious as you about moving.  (Also check out the 5 Reasons to sell your home this fall)

2.  The average days on the market currently is about 70.  That means if you want to close before January 1st, you’ll want to list by very soon.  Most transactions take about 30-45 days to close once you are under contract.  To get to contract could take on average 70 days!  So it’s super important to price right from the beginning to ensure a successful sale by the end of the year.

3.  Beware of overpricing.    You may have heard that the real estate market prices are up 6% from this time last year!  That’s great news and yet the number of sales is down 16% and the prices are down month to month as well.  We are in what is considered a stable market with supply and demand being pretty equal.

The Orlando real estate market is cyclical and shifts.  In the last two years we’ve seen heavy demand as buyers have been trying to take advantage of the low prices and low interest rates.  That heavy demand and lack of listings caused the prices to rise.  That’s great news for you as you intend on selling!  But as prices rise, many other homeowners have the same idea leading to more supply.  Many New Listings have hit the market for now.  Some will sell over the next few months and other homeowners will take their homes off the market during the holiday season. Yet serious buyers will continue to search for their home!

Preparing to list?

The main issue I see as we continue into the next coming months is overpricing.  The market has improved drastically over the last few
years, but I have noticed some sellers future pricing, meaning they are pricing their homes in what they perceive the prices to be in a few months.  Yet those are the listings that are sitting on the market and not selling.  List your home fairly within the market range and you will sell before the end of the year and have a nice fresh start to 2015!

If you’re serious about selling your home before the new year, get started with a free consultation.

 

Image credit:  Land for sale by Crinity via Everystock – Creative Commons License

In the last 6 months the number of homes for sale in Orlando has continued to increase.  This time last year there were about 34% less homes on the market than there are now.  In the current market, about 25-30% of the listings are selling monthly on average.  With added competition comes longer days on the market and more expired listings.  As buyers have more options, they may decide to skip your listing for the one down the street.  There are a variety of reasons that they might choose another home over yours.  Find out the top 5 Reasons by watching the video below and download the full report at my website ExpiredListingClub.com.

The expired listing club is the one club where you do not want to be a member.  If you had a plan to move and your home did not sell or you are just thinking about selling – you don’t want to make these mistakes.  Find out why your home didn’t sell and let’s get together to get it sold!

Call me today at 407-494-2820 or visit the website for the full report with a detailed analysis of the 5 Reasons your home didn’t sell!  Did you have problems selling your home?

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