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Orlando Real Estate Market Statistics, Short Sale Expert

February 15th, 2011 No comments

Orlando Market Pulse Jan 2011

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

Call us at 407-580-7011 or email at jerry@JerryLaRose.com to find out more about Orange County Short Sales and Orlando Area Short Sales

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Real estate prices to fall at least 5% in 2011? Orlando area may be Higher!

December 3rd, 2010 No comments


For most metro areas, home prices peaked some time in 2006 and except for a few minor bumps, it’s been all downhill ever since. 2010 has been no exception. So, if we tally up all the annual sales data since 2006, it’s been a four-year run of bad news regarding the direction of housing values.
Enough is enough, you say, and we should begin 2011 with renewed optimism and vigor. I got your back there, but it’s a weak defense, because intersecting trend lines, including an unexpected, but very strong post-tax credit slump and a shadow inventory problem will keep housing prices heading in the same direction — down. Expect another 5 percent to 10 percent decline in housing prices in 2011.
Standard & Poor’s credit analyst Erkan Erturk tries to stay optimistic when it comes to reporting about the housing market. “Looking at where we are today as compared to the days of 2008 through mid-2009 when home-price indices (S&P/Case-Shiller) were showing over 10 percent declines on a 12-month basis, the market has, indeed, stabilized, even improved,” Erturk reported.
However, that stabilization doesn’t diminish the fact that Standard & Poor’s analysts predict home prices will decline another 7-10 percent in 2011.
The good news, Erturk stressed, is that declines have decelerated. The bad news is, the timeline for declines continues to stretch out into the future.
The problems are numerous. First, unemployment is still a major weight on home buying trends. Not only are unemployment numbers persistently high, but even those citizens with jobs are feeling insecure, all of which means people who would normally be looking for a new house definitely won’t be. Demand continues to trail supply.
Secondly, back in November, the Federal Reserve unveiled a new stimulus plan involving the purchase of $600 billion of U.S. Treasuries. It was thought this event would push mortgage rates down. The opposite has happened. Mortgage rates along with Treasury rates have been going up. Higher mortgage rates will not be helpful in getting more people to buy homes, which, in turn, would stimulate prices upward.
Thirdly, after holding back on putting foreclosed and distressed properties back into the market, banks have been getting more aggressive. As these properties leak into local markets at reduced prices, home values cannot move upward. In fact, home prices are more often than not pulled lower.
“If distressed inventory comes into the market slowly, it is always helpful, as the market can digest the new supply,” said Erturk. “At the same time, if they come into the market too slowly, you are prolonging the problem and the market won’t hit bottom for a few more years.”
One of the biggest obstacles to house prices moving higher and not lower is the unexpected aftereffects of the home-purchase tax credit that was successful for what it was designed to do: stimulate demand by enticing buyers into the market.
“The problem was that in 2009 and 2010, we were pushing future demand forward,” explained Scott Sambucci, director of business development at Altos Research in Mountain View, Calif. “Some buyers would have eventually bought a home anyway, with or without the tax credit.
“These are people who may have waited a year, perhaps to 2011, to buy, but because of the tax credit they were enticed into the market. Once you have exhausted that group of buyers, it leaves you a smaller pool of buyers in the future years. That’s one challenge for 2011 — some of those buyers of 2009 and 2010 were pulled forward.”
Sambucci is another optimist with bad news. “We don’t like being bearish,” he said, before letting me know that he thinks home prices will decline another 7-9 percent in 2011.
Perhaps the biggest roadblock to getting home prices to reverse direction is shadow inventory overhang.
Shadow inventory — and I’ll use S&P’s definition — consists of outstanding properties whose borrowers are, or recently were, 90 days or more delinquent on their mortgage payments, and properties in foreclosure and REOs.
According to S&P, the time it will take to clear the supply of distressed homes on the market, or those that need to be resold because of defaults, declined after reaching a peak in mid-2008, but has been on the rise again since fall 2009. As of mid-year 2010, S&P estimated it would take the existing shadow inventory 40 months to clear.
Another way to look at this problem is: Approximately 2.09 million properties were in servicers’ foreclosure inventories at the end of October, according to Lender Processing Services Inc. Combined with the number of loans that were 30 days delinquent, the total number of noncurrent loans reached 7.04 million.
One optimist who has mixed the numbers to look almost good is Alex Villacorta, a senior statistician with Clear Capital in Truckee, Calif. Some analysts were saying home prices would decline 5-10 percent in 2011 as far back as September 2010, Villacorta noted, but between August and November 2010 prices had already fallen 7 percent, so the big decline may have happened sooner than later.
“We will see a majority of the falling prices during the winter,” he said. “I don’t think that minimum 5 percent decline will be spread out through all of 2011. If it does occur, it will be in the first part of the year.”
Of course, I believe that we can add another 3-5% on top of their national averages. Yes, Folks that means a 10-15% drop. Now, I will say each area of Orlando is different and some area may only see the 5-10% decline and other will see 10-15%. Therefore, if you are looking to buy or sell in this market give us a call and we can assist along the way.
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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.
Please visit:
Avoid Foreclosure / Short Sale Help http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com
Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com, or http://OrlandoRealEstateVoice.com ,
If you’re a Buyer looking for Great Deals – http://InvestmentPropertyDealsOrlando.com
Please give me a call if you have questions about the Orlando and Central Florida real estate market.
P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake or Osceola County Florida and Orlando, East Orlando, St. Cloud, Davenport, Clermont, Longwood, Windermere, Winter Garden, Kissimmee, Winter Park, Altamonte Springs, Maitland, Apopka, Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.
Call us at 407-580-7011 or email at jerry@JerryLaRose.com to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Real Estate Market Statistics November 2010

November 15th, 2010 No comments

Orlando Real Estate Market Pulse Nov 2010

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area.

Please visit:

Avoid Foreclosure / Short Sale Help  http://OrlandoShortSaleExpert.com, or http://ShortSellMyOrlandoHome.com

Our Website http://JerryLaRose.com or www.JerrySellsOrlando.com,  or http://OrlandoRealEstateVoice.com ,

If you’re a Buyer looking for Great Deals –  http://InvestmentPropertyDealsOrlando.com

Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. The short sale process is complicated and we can help simplify it.

Call us at 407-580-7011 or email at jerry@JerryLaRose.com to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Market Statistics October 2010

October 12th, 2010 No comments

Orlando Market Pulse 101110

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.comhttp://OrlandoRealEstateVoice.com ,  www.JerrySellsOrlando.com, or http://InvestmentPropertyDealsOrlando.com for your Orlando real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Market Pulse

August 13th, 2010 No comments

Orlando Market Pulse 081110

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Real Estate Market Statistics as july 2010

July 16th, 2010 No comments

Market Pulse 071110

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden, Kissimmee, St. Cloud, East Orlando, Longwood, Altamonte Springs, Maitland, Winter Park, Oviedo, Apopka, Lake Mary, Clermont, Ocoee  Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange, Seminole, Polk, Lake  or Osceola County Florida and Orlando, East Orlando, St. Cloud,  Davenport, Clermont, Longwood, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland,  Apopka,  Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Real Estate Market pulse as of June 11 2010

June 14th, 2010 No comments

Market Pulse 061110

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange or Osceola County Florida and Orlando, Windermere, Winter Garden,  Kissimmee, Winter Park, Altamonte Springs, Maitland, Lake Mary, Oviedo or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales

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5% of Americans plan to buy a home next year, Orlando Real Estate should continue to recover!

November 12th, 2009 No comments

 Orlando Real Estate, Orlando short sales, expert, specialist

One in 20 Americans say they plan to buy a home within the next year, and they’re most likely to be 34 years old or younger and living in the South or West, according to a survey released Wednesday.

Roughly a quarter of potential buyers said the No. 1 reason they would buy now is because prices appear to have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes.

The survey,  reveals how Americans are responding to a fragile housing recovery after three years of staggering price declines. The percentage of buyers thinking of jumping into the market was down slightly from a March survey, but up about 1 point from a poll in June.

Home prices rebounded this summer at an annualized pace of almost 7 percent, according to the Standard & Poor’s/Case-Shiller home price index. But with high unemployment and foreclosures clouding the picture, economists debate whether prices will dip again.

Recent housing figures and homebuilder earnings support a stabilizing housing market, and concerns about the expiration of federal homebuyer tax credit are moot after Congress last week extended and expanded the credit.

Buyers who have owned their current Orlando area homes for at least five years are eligible for tax credits of up to $6,500, while first-time homebuyers – or anyone who hasn’t owned a home in the last three years – would still get up to $8,000. To qualify, buyers have to sign a purchase agreement by April 30, 2010, and close by June 30.

The survey was conducted before the credit extension.

Those surveyed widely favored federal policies that kept interest rates low and helped troubled homeowners avoid foreclosure over those that helped first-time homebuyers purchase a home. And, overall, 48 percent of those polled didn’t think the government was doing enough to stabilize the housing market, whereas 42 percent thought it was.

Forty-five percent of Americans worry that they or someone they know will face foreclosure in the next year. And almost 30 percent of those with a mortgage have contacted their lender in the past year to reduce their payments.

Almost a quarter of Americans who refinanced their mortgages have used the savings for living expenses or paying down debt, the survey found. Less than 9 percent are putting the savings toward investment or retirement.

The telephone poll, which included about two-thirds homeowners and one-third renters, was conducted in October by market research firm GfK. It had a margin of error of plus or minus 3 percentage points.

 

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange or Osceola County Florida and Orlando, Windermere, Winter Garden,  Kissimmee or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

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Orlando Real Estate sales continue to increase, Short Sales & Foreclosures lead the way!

October 16th, 2009 No comments

 

Orlando Real Estate Sales

Orlando Real Estate Sales

 

Members of the Orlando Regional REALTOR® Association in September sold 54.30 percent more homes than in September of last year, contributing to the area’s year-to-date sales increase of 50.69 percent. The most recent statistics show a continuing broad improvement in the area’s housing market, but ORRA President Les Simmonds, L.G. Simmonds Real Estate Corp., says economists expect a rise in foreclosures over the next 12 months and that it is important to maintain a healthy level of ready buyers to absorb the resulting increase in inventory.  The median price of all existing homes sold in September declined 2.34 percent to $125,000 from the $128,000 recorded in August. That same median price is a decrease of 31.32 percent compared to September 2008′s median of $181,995. 

 

 

 

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange or Osceola County Florida and Orlando, Windermere, Winter Garden,  Kissimmee or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

 

Jerry LaRose, P.A., ABR, GRI, e-PRO, CLHMS, REALTOR® 407-580-7011

 

 

 

 

 

 

 

 Orlando sales continue to increase

 

 

 

 

 

 

 
 

 

 

 
 
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Orlando Florida’s existing home, condo sales up in May 2009

June 25th, 2009 No comments
Orlando Real Estate Sales

Orlando Real Estate Sales

Florida’s existing home sales rose in May – the ninth month in a row that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). Statewide sales showed gains over the previous month’s sales level in both the existing home and existing condominium markets. Also, for the first time in many months, the statewide median sales price in May for existing homes and for existing condos rose over the previous month’s figure.

Existing home sales rose 16 percent last month with a total of 13,921 homes sold statewide compared to 12,044 homes sold in May 2008, according to FAR. Statewide existing home sales in May increased 6.2 percent over April’s statewide activity. Florida Realtors also reported a 21 percent rise in statewide sales of existing condos in May; existing condo sales last month rose 3.8 percent over the total units sold in April.

“The improving sales of existing single family homes and condos is a trend we have been seeing for several months in Florida. What is new in this month’s data release is that we are seeing evidence of prices beginning to firm,” says Dr. Sean Snaith, director for the University of Central Florida’s Institute for Economic Competitiveness. “While one month of data does not a trend make, it is the first green shoot we have seen in some time as far as prices are concerned. Until prices stop declining, we cannot state with confidence that the housing market has stabilized. Sales have risen to levels we have not seen since 2006, though the economy still faces headwinds. As credit markets begin to thaw this will help speed along this process of recovery in the housing market.”

Florida’s median sales price for existing homes last month was $144,400; a year ago, it was $203,800 for a 29 percent decrease. However, the statewide existing home median price in May was higher than the statewide median price reported in each of the previous four months. According to housing industry analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to lower the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

In Florida’s year-to-year comparison for condos, 4,839 units sold statewide compared to 3,998 units in May 2008 for a 21 percent increase. The statewide existing condo median sales price last month was $113,400; in May 2008 it was $181,700 for a 38 percent decrease. May’s statewide existing condo median price was the same as January’s statewide median, and was higher than the median reported in February, March or April. The national median existing condo price was $173,900 in April 2009, according to NAR.

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit http://OrlandoShortSaleExpert.com or www.JerrySellsOrlando.com for your real estate needs.  Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden,  or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.

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