Monday, June 16, 2014

Orlando Housing Market Report: May 2014

Orlando Real Estate Market Statistics for May 2014 shows inventory of homes up 50% over last years so their are more choices for home buyers.  Home prices are up and affordability index is getting higher as well.  The median price of a home is up 14% compare to this time last year at $165,000.  Despite prices rising the interest rates are still great!  If you are in the market to purchase a home, do not go it alone, take an experienced buyers agent to guide through all the choices and complexities of Orlando Real Estate.

  • Average Mortgage Rate: 4.16%
  • Inventory: 10,098
  • New Listings:  4,693
  • New Contracts:  3,275
  • Under Contract: 7,407
  • Back on Market: 824
  • Expired: 310
  • Withdrawn: 921
  • Sa;es Closed: 2,651

Thursday, May 15, 2014

Orlando Housing Market Report: April 2014

Read all about Orlando Real Estate Statistics for April 2014.  The median Orlando home price is up 13% to $163,000 over last year.  Inventory is growing to a 4.05 month supply which is getting back to normal levels.  Prices have been going up for 33 months is a row now at 40%.  Interest rates are still very low!  Normal sales are 70% of the market, while 30% consists of distressed properties, which overall is decreasing.  Condo sales have dipped 18.69%.  New construction is booming in Central Florida.  To find the best homes for your budget, contact Buyers Brokers of Florida to find your next Orlando Home.


Monday, April 14, 2014

Free Bicycles at Winter Park Library

Yep, they are free, these bicycles are available to card holders of the Winter Park Library, its the first program of its kind which stated in February.  The library’s Checkout Bikes program will initially stock seven cruiser-style bicycles and one tandem bike that can be checked out from 9 a.m. – 4 p.m. Monday through Saturday and from 1 to 4 p.m. on Sundays. The Winter Park Library bikes will be free to all resident card holders of the WPPL and will come with a basket, lock and helmet.  Take a look at these great Winter Park homes within biking distance of the Winter Park Library.

Monday, March 17, 2014

Orlando Housing Market Report - February 2014

Orlando Real Estate market is going strong with inventory finally increasing to 42% from last year, which means more great choices for our buyers!  Due to high demand, the median price of a home has increased 19% to $158,000 since last year.   If you want to know what is available in your budget, please contact Buyers Broker of Florida for assistance.

ORRA sales

Tuesday, February 18, 2014

Winter Park maybe getting a Baseball Stadium

City of Winter Park is in discussion about getting a professional Baseball Stadium.  Winter Park has been targeted  for the minor league Brevard County Manatees.  This would be located behind the new Whole Foods, and the developer is requesting from the DOT to push Lee Road through beyond 17-92 to Denning.  Click here to view homes within 1/2 mile from this proposed Baseball Stadium.

Monday, February 17, 2014

Orlando Housing Market Report - January 2014

As a buyers broker I was glad to know that there is a 35% increase of inventory of homes over last year at this time.  That means buyers have more choices!  Contracts in January have slowed with rising interest rates, but they are still at an all time low and prices are inching up, with the median price up 18% over last year to now at $149,950.   Orlando has homes for all if you need information about this market, feel free to contact Buyers Broker of Florida.

ORRA sales

Wednesday, January 15, 2014

Orlando Housing Market Report - December 2013

The median price of an Orlando Home is $149,625 finished out the year and up 22% since 2012. Housing demand remains strong and is expected as inventory increases, and less sellers under water.   Interest rates still remain low, new construction opportunities are growing.  Short sales and foreclosure closing are decreasing while, normal sale closing are increasing.  Its a great time to buy Orlando Real Estate.

  • Average Interest Rate:  4.57%
  • Inventory: 9,421
  • New Listings:  2,833
  • New Contracts:  2,353
  • Under Contract: 6,026
  • Back on the Market:  693
  • Expired Listings:  586
  • Withdrawn:  787
  • Sales Closed:  2,376
  • Days on Market: 69

Monday, December 02, 2013

Winter Park Getting Another Whole Foods

A new Whole Foods is coming to Winter Park at the intersection of 17-92 and Lee Road. This will be across the street from the new multi-use complex of Ravaudage.    This will be 40,000 square foot store, twice as big as the one on Aloma Avenue.  The 17-92 stretch of Winter Park is seeing great changes with recently opened Wawa.  It will be called "grocery store row" when all built will have two Publixes, Fresh Market, Chamberlains, Fresh Market, Trader Joes (opening in May), and the new Whole Foods within 1-2 miles. West Winter Park is a true growth area for retail, if you want to live close check out these Winter Park Homes for sale priced $100,000-$500,000 within one mile of the new Whole Foods.

Monday, November 25, 2013

East End Market Audubon Park

East End Market in Orlando's Audubon Park recently opened and is a unique food venue. First when you arrive, they have this amazing garden in front of the store, which truly inspires you to create your own and offers monthly classes for this.  East End Market is a collection of local small food businesses.

If you are looking for a great selection of breads wholesome with no preservatives you will not miss the vertical display of artisan bread from Old Hearth Bread Company.  In addition, they have sandwich, salad, and soup place, seafood, vegetable bar, local meats and cheeses.

This location is between Audubon Park and Winter Park. Take a look at Audubon Park Real Estate, and surrounding Winter Park Real Estate.  In addition, Baldwin Park Real Estate is right there too.

Saturday, November 23, 2013

Do not wait to get a mortgage; tougher guidelines ahead

Beginning January 2014 it will be tougher to get a mortgage as Qualified Mortgage (QM) rules will be implemented.  This means lenders will be looking closer at a borrowers ability to repay the loan and will come with stricter underwriting guidelines and stricter credit requirements.  There will be a reduction in loans with riskier features, restriction to borrowers that have debt to loan ratio of higher than 43%, and origination and affiliated fees cannot exceed 3% of the loan.  This will have an impact to low to moderate income borrowers, first time home buyers and self employed buyers.  Buyers Broker of Florida recommends to get prequalified with good mortgage lender before shopping for a home.

Friday, November 22, 2013

Thursday, November 21, 2013

Laureate Park in Lake Nona

An Introduction to Laureate Park from Lake Nona on Vimeo.

Working in the Orlando's Medical City?  Laureate Park is the closet community in the heart of the Medical City, you could bike to work.  Laureate Park is a unique community in its location, home styles, energy efficiency, and community sustainability.

Laureate Park master planned community like no other, its one of  four Eco Imagination communities in the nation with energy efficient building, green spaces, walking trails, and electric car plug ins.  The community was built with the assistance of Cisco with fiber optics and internet connection speeds to be 10 faster than rest of Central Florida.  In addition, Promethean technology will create in home classroom experience or attending an office meeting from your home a breeze.

Laureate Park has home designs that are non-traditional, they are very modern looking.  You can find home with rear load garages, and front load garages.  The rear load garage will offer an option to build a garage apartment.  Perfect for a teenager, nanny, guests, or a separate office. In addition to single family homes, there are townhomes which are all two story units.  If you are want a large yard, this may not be the community for you.

Laureate Park has recently opened its community pool and fitness room.  There will be restaurants and equine center.  In addition, Lake Nona Village Shopping Center will be adjacent to the community.   The HOA fees are reasonable, and it is a CDD community.  If you want interested in viewing Laureate Park homes in Lake Nona, Buyers Broker of Florida is a quick phone call away.

Monday, November 18, 2013

More foreclosures hit the market

While foreclosures have been on the decline in the Orlando market, there has been an uptick  in the amount of Orlando foreclosures hitting the market in the past few months.  Due to change in the law, the foreclosure process is shorter and causing more forecloses properties to hit the market in the past few months.  If you are in the market to search for Orlando Bank Owned or REO properties, start your search here for properties $300,000-$500,000.  Bank foreclosures was once priced at the low end of the neighborhood, now pricing can be comparable to other regular properties.  Let your buyers agent help you sort out the best Orlando properties to buy.

Saturday, November 16, 2013

Dover Estates in Orlando

Are you looking to be centrally located, but do not want to spend those downtown Orlando prices?  Dover Estates located within the City of Orlando is a 325 home community build during the 70's.  Dover Estates is ideally located within 10 minute drive to heart of downtown and less than 15 minute drive to Orlando International Airport.  All the homes for sale in Dover Estates are the traditional one story ranches, some with pools and some on Lake Ramaba.  Depending on the size 2 bedrooms are starting around $150,000.  Right across the community, well within walking distance,  is Dover Shores Community Center, where you work out, swim, and sign up for activities.  To use the fitness area, the highest package is about $10 per month, that beats $50 month the YMCA charges.  The HOA here is optional at $35 per year.  Schools are Dover Shores Elementary, Jackson Middle, and Boone Highschool.  Have a question on an Orlando community?

Friday, November 15, 2013

Orlando Housing Market Report - October 2013

Orlando prices continue to increase and inventory of homes are increasing which gives buyers more choices. Interest rates dipped a bit,  and monthly sales slowed, maybe related to the government shut down last month. Buyers are still buying and good home come on the market ever day. If you are searching for Orlando Real Estate and want an opinion from a buyers agent, where to consider buying, just send a quick email.

  • Average Mortgage Rate:  4.28%
  • Inventory of Homes:  9,470
  • New Listings: 3,942
  • Under contract: 7,099
  • Back on Market:  749
  • Expired Listings:  298
  • Withdrawn Listings: 779
  • Sales Closed 2,312
  • Days on Market:  64

Friday, November 01, 2013

Building a New Home? What to expect from your Design Studio appointment.

You have now gone under contract on your new construction home in Orlando.  The builder gives about two weeks to schedule your design studio appointment.  This is the best part of purchasing a brand new home, you get to select all the colors of your homes, select everything from cabinetry, to different style of doors. Buyers love it!  You do not have to move into a resale and remodel, everything will be built to your taste. But you have to be realistic.  It will hard to restrain yourself from spending too much money, and builders are fine with that as there is market up in those upgrades.  A typical buyer will spend anywhere from $5,000-$30,000 on upgrades, and you could go higher.  

Here are a few tips to prepare for your Design Studio appointment.
  • Allocate time off.  Depending on the builder, and size of home, your design center appointment will be 4-8 hours.
  • Bring someone with you.  The design center consultants will not make selections for you.  You do need a second opinion,  bring your spouse, friend, buyers agent, or interior designer.
  • Watch what you spend.  If you are financing then you need to be aware the builders contract typically does not have an appraisal contingency.  This means if the price of home plus upgrades exceed the appraised value of home, you will have to pay the difference from total purchase price and appraised value in cash at closing.  
  • Go to Studio Preview.  Check with the builder to see if they have preview dates for their studio, this means you get a chance to review home options and prices.  This will help, so you are not overwhelmed with too many choices and pressured during your selection appointment.  Ashton Woods has viewings every 1st and 3rd Thursday of each month from 4:30-6:30pm.  Meritage Homes has theirs every Wednesday from 4-7pm.
Buyers Broker of Florida assists their clients through the maze of new home construction upgrades.  We help in sorting out which upgrades are must have's, others that are better done after closing, and others that maybe a waste of money.

Thursday, October 31, 2013

Haunting Thought about Orlando Homes...

Yes its the eve of Halloween here in Orlando, Florida, and approximately 2600+ home buyers will close on a property this month.  Many times we talk with buyers about what they do not want in a home for example, no small yard, not backing to road, no crime areas, no zero lot lines, no carports, etc. But no one stipulates they do not want to buy a home that has been haunted!

Did you know in Florida that a seller is not required to disclose if a person has died in their home? Or how they died whether natural causes, suicide, or murder.  Appraisers indicate that a home where a murder occurs has a 25% reduction in market value. Whether you are concerned about the price of home or ghosts, you may not find out if the Orlando home you are purchasing is haunted.

There is help!  There is a website that helps potential home buyers (and renters) learn the history before purchasing their Orlando Home. 

Our Orlando home buyers benefit when they work with Buyers Broker of  Florida.  We disclose everything we may know about the property whether required or not required, giving our buyers always full disclosure. 

Monday, October 28, 2013

Orlando Getting All Aboard Florida Train with stops to Miami

All Aboard Train is proposed to start construction in 2014 with completion in 2015. This will be a great alternative for the people who do not want to drive or fly to airports of Palm Beach, Ft. Lauderdale and Miami. This All Aboard Florida train will connect Orlando International Airport (OIA) and Miami within 3 hours on this 230 mile route. Then expansion from OIA to Orange County Convention Center.

Thursday, October 17, 2013

How do I know if my Orlando real estate agent represents me?

Unless the Orlando Real Estate agent puts this in writing, you can assume you are not being represented on your real estate transaction.  What that means if a problem arises, you will be on your own to determine how to fix it.  Most buyers do not even realize there is difference between Orlando Real Estate agents and representation is available to guide them through the hurdles of a real estate transaction, and keep all of their information confidential.  In the State of Florida, this type of real estate agent is consider a "single" agent. This means they singularly represent the buyer rather than both (buyer and seller) parties in a transaction.  The office I work for is considered a single agency office, in which our only specialty is to work with home buyers.  We have been doing it for so long, that naturally I think like a home buyer, but have the real estate skills to forecast, and avoid issues in a transaction.  Not always can you eliminate them, but I do know how to minimize them.   Not only do Exclusive Buyer Agents represent you, they assist in all aspects of the transaction to help make the best choices through out.   If you need the help of an exclusive buyers agent, please contact us by phone or email.