Wednesday, April 02, 2008

Lets Get Real...About Orlando Real Estate

OK, so I am new to posting on this blog, but not new to real estate, so maybe its time for me to speak out.

Yesterday I get a call from a potential buyer from Atlanta who is interested in buying a second home here in Central Florida, but his local newspaper headline read “Stay out of Florida!”, so he was confused…I thought he was kidding.

While I do know that the Orlando-Sentinel Newspaper and the local TV Channels like to dwell on the doom and gloom, I did not think that other states really cared about what is going on in Florida particularly enough to headline our Real Estate Market. Is there nothing newsy going on in Atlanta to write about? Or are they worried that Atlanta people might find out about great value in Florida and move out of Georgia?

So let me enlighten you, here’s the deal. Moving to Florida is not a necessity, but buying right now is. While I do NOT agree that we are in a downhill spiral, I also do not think that prices will get better than they are this year, 2008.

Yes, there are sweet deals all over the place, but nothing good is being dumped for pennies on the dollar. Sellers are negotiable and many homes are selling for less they is owed, but everything is relative to the property. If you want a perfect place, it will not be a fire sale. If you must have a pool, a 3-car garage and be on a golf course, then do not ask for a bargain. If buying under market value is your priority, than stay flexible on your requirements. If you are going to be picky, expect to pay the price.

EvePS: Coming tomorrow: the scoop on “short sales” and “foreclosures”.