Monday, October 15, 2007

Foreclosure Rate Up in Orlando

The foreclosure rate is up 85% in 2007 from 2006 in seven counties surrounding Central Florida, as homes sit on the market, and single family homes or more prevalent than condominiums. Foreclosures, can sometimes mean a good buy for a buyer.

Osceola County, region is hit the hardest with foreclosure rate tripled, which accounts for the majority in South Poinciana.

Right now is a great time to buy with many choices for buyers, better terms for buyers, and more motivated sellers. Prices have been stabilized in the last 6 months, but as homes continue to sit on the market may drive more price reductions. Many potential home buyers are wondering whether to buy now or wait. If you are going to keep your property for the long term, now is great time, as the value of the property will live through the cycles of the real estate market and maintain its equity.

To learn more about Central Florida Foreclosures, please click:http://www.orlandosentinel.com/orl-foreclosure1407oct14,0,733618,print.story?coll=orl_news_util