Monday Market Report – 3 Tips to Take Advantage of the Hot Market in Orlando

I am in a class for the next few weeks with some of the top agents in Central Florida.  We are tracking our numbers and we collectively have 100 MORE buyers than listings.  This is a clear sign of the market conditions.  There are not enough homes for sale for the demand.  So many homeowners are curious about how they can take advantage of this hot market.  Here are my top 3 tips:

3 tips
1) If you own a home valued somewhere between $200,000 and $300,000 and have considered selling and making a move to a higher priced home, do it now. 

      • The $200-300k price point made up about 36% of the sales in the first quarter.  This means you’ll have heavy demand for the home you are selling. 
      • And if you’re moving up to a home between $300,000 – $400,000 there is half as many buyers/sales happening in that range.

Take Away: You will have heavy competition for your home allowing you to sell for top dollar while having less competition on the home you’re buying!

2)  If you own investment property and are tired of being a landlord, cash out your equity. 

      • The best time to be a seller is in a seller’s market.  Why wait to see what the market does when you know what it is doing now?
      • The average rent price for a 2 bedroom in Orlando was $1357 in March (1).  With these rising rates, investors are looking for opportunities.

Take Away:  If you are a landlord by default, meaning you could not sell a few years ago so you rented, you are now in a position to get your property sold.

3)   Buyers there is opportunity for you too!  Interest rates have come down a little in the  last few weeks.

      • The average sales price for a 2 bedroom single family home in the City of Orlando is $191,973.  With a 5% down payment, your estimated payment is about $1,284.47 (2).  With these interest rates and prices you can find something for less than the average rent if you are realistic and serious about buying.
      • If you are looking to buy investment homes and you are able to do a 15 year mortgage on something, the interest rates are about 3/4 of a point lower.  Any time an interest rate is this low and you are able to buy, it just makes financial sense to do so.

Take Away:  Just because it is a “seller’s market” doesn’t mean there isn’t opportunity for buyers and investors.  You just need to be realistic and work with a good agent like us to find things quickly and strategically offer.  Keep in mind, about 60% of the homes for sale DO NOT sell each month.  Look at properties that are 1-2 months on the market with no price reduction and get in before they lower the price and everyone jumps on it.

Do you know someone who wants to take advantage of this market?  Let our expert team assist you in building your wealth through real estate.  Call us today 407-494-2820

(1) Average Rent https://www.rentjungle.com/average-rent-in-orlando-rent-trends/

(2) Payment estimated using mortgagecalculator.org assuming 5% down, $1400 insurance, 1.5% tax, .5% PMI

Market Data provided by Orlando Regional Realtor Association

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Who Says There’s Nothing To Do In Orlando?

If you haven’t heard by now Winter Park has an incredible Farmers’ Market that is proclaimed to be the number one market for produce and plants! Located at 200 West New England Avenue at the old train depot this event takes place every Saturday morning from 7 a.m. to 1 p.m. and is raved upon by the locals. With local produce, plants, and baked goods you couldn’t imagine there being much more…. except there is!

The Winter Park community has a lot of historical attributes that are carried on through the incredible artists that keep the memory thriving. I love visiting with my friends to appreciate the art and care our locals/farmers bring to the table.

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Don’t take my word, this is a family friendly community (that includes your best friend on a leash!) that’s waiting for you every Saturday morning. Chances are you’ll see my face in the crowds, don’t hesitate to say hello I can’t wait to see what awesome things you take home!

Posted in Downtown Lifestyle, Green Living, Orlando Events, Uncategorized, Who Says There's Nothing to Do in Orlando?, Winter Park | Tagged , , , , , , , , , , , , , , , , | Leave a comment

Go Local Wednesday – Orlando Power Yoga

PowerYoga

Have you heard of “Hot Yoga?” It is a style of yoga performed in hot and humid conditions, typically Bikram yoga.  One of the highest rated studios in the Downtown area is Orlando Power Yoga.  The studio features tatame mats which are both hypo-allergenic and anti-bacterial to help make your yoga experience a more comfortable one.  They offer classes that range from beginner, non heat up to the Power Sculpt Yoga which is moving with hatha/vinyasa flow yoga, mixed with weights to tone your abs, arms and legs.  They offer specials regularly if you’re just curious or you can sign up for a membership and go more often.  Find out what the rage is all about!  Head over to Orlando Power Yoga today!

For more information, check out their website here.

Image Credit: OrlandoPowerYoga.com

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Go Local Wednesday – Christo’s Cafe

Christo'sChristo’s Cafe, located on Edgewater Drive in College Park, has been serving locals and guests breakfast and comfort food at lunch time for years.  They have an extensive menu so even the pickiest people can find something to nom on.  Sometimes I find that restaurants with large menus stretch themselves thin and don’t execute them well, but I have never had a bad meal at Christo’s Cafe!  I love going for lunch.  Their burgers are so good!  They also have a fantastic staff that makes you feel like family from the moment you walk up to the patio.  They are attentive and knowledgable and always have a smile on their faces.

On the weekends, the patio is a great place to post up and do some people watching.  The restaurant is literally in the middle of College Park so there are always couples walking around, young families shopping and people on their bikes everywhere.  College Park is actually very walkable so there’s plenty for you to see.

If you’ve never made it to this tasty place, you have to put it on your list!  Maybe I’ll see you there.

Image Credit: Tripadvisor.com

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Who Says There’s Nothing To Do In Orlando – So MUCH Going On This Weekend!

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There is so much going on this weekend in Orlando I don’t know how you’ll pick what to do!  Instead of picking just one to highlight, I’ve provided links to a couple of the fun activities.  Pick your favorite and get outside!  There’s no rain in the forecast so it’s going to be beautiful.

Bacchus Bash – Friday, March 31st – This family event is free admission and parking.  Sample food and drink from Orlando’s best restaurants and hotels!

Melbourne Air Show – Friday, March 31st – Sunday, April 2nd – Featuring the Thunderbirds, the US Air Force and the French Air Force

Fiesta in the Park –  Saturday, April 1st – Sunday, April 2nd – Hundreds of artist and crafter booths line the streets surrounding Lake Eola Park in Downtown Orlando! There are plenty of activities to take part in at this fun community event, from a kids area, beer and wine garden, live music and the largest pet-friendly event in Central Florida.

You can also check out the XL 106.7 Blog on everything going on this weekend and every weekend by clicking here.

 

 

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Go Local Wednesday – Madcap

Madcap

The second annual Mills50 Madcap returns on Saturday, April 1! Madcap is sort of like a scavenger hunt – sort of like a pub crawl – but mostly like a party! Individual participants and teams will gather at The Brass Tap – Mills Park at noon to receive instructions and clues. At Brass Tap, participants can purchase a 22oz “boot of beer” for $6 and receive a raffle ticket.  The participant with the winning ticket will receive a $25 gift card to The Brass Tap. Participants will then go to various locations around the Mills50 District and solve puzzles and complete tasks before moving on to the next location. There will also be drinks specials at participating bars.

After finishing, everyone will gather at Ten 10 Brewing Company for a party, where prizes will be awarded for Best Team Costume and Best Team! Every participant will receive a free goody bag filled with items from Mills 50 businesses!

Registration: $20 per person

 

Here is the link to register:

http://orlandoweeklytickets.com/events/42985449/mills-50-madcap

Hope to see you out there!

Image Credit: Mills50 District

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Who Says There’s Nothing To Do In Orlando? – Lake Eola Swan Boats

eolaslide1Lake Eola is one of those iconic places in Orlando.  The shining water always calms me down.  I love being able to see all the ducks and swans swimming around, or the geese chasing people.  One of things that’s been on my list of to do’s is to rent one of the Swan Boats for a romantic afternoon with my hubby.  For just $15/half hour you and 4 of your friends or kids can take a leisurely ride around the lake.  You don’t have to make reservations and they are available for rent Sun-Tue 10A-7P and Wed-Sat 10A-10P, making it accessible for everyone.

It reminds me of my childhood.  We lived in Texas but would go to Norman, OK every year for our family reunion.  We stayed near Lake Thunderbird and every year my sister and I would look forward to a boat ride with our dad around the lake!  It was the highlight of my summer for many years.

Clearly I have some real nostalgia about it so I’ve definitely got to do this soon, before it gets too hot.  Maybe we’ll see you there!

Image Credit: CityofOrlando.net

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