Lack of Inventory Continues to be the Theme in Orlando Regional Realtor® Assoc.’s March 2021 Market Pulse Report

According to ORRA, total inventory of greater Orlando-area homes available in February 2021 is the lowest level since May 2005 & 50% less than February 2020. The typical healthy balance of supply & demand for homes is 6 months, however supply in February reflecting only 1.1 month’s supply; highly indicative of a “seller’s market.” Characteristics of the seller’s market include bidding wars, multiple offer scenarios & bids above asking price. As inventory tightens, average days-on-market is less than 2 months at 52 days. Prices also on the rise with Central Florida home values up 12% year-over-year from February 2020 to February 2021. Mortgage rates are slowing rising although still at or near all-time record lows. Avg. mortgage rate for February was 2.88%. The March 2021 Market Pulse report is based on data collected for February 2021 & the full report is available for you here: https://www.orlandorealtors.org/housingmarketnarrative

Orlando Regional Realtor® Assoc. Reports No Slowdown to Start 2021

Orlando Regional Realtor Association® reports no slowdown in the rise in values of Central Florida homes in its February 2021 monthly Market Pulse Report (for data from Jan. 2021). ADOM is steady at 49 days, however the median home value for all homes sold is $275,000, which up 12% year-over-year with inventory down 40% during the same timeframe. In January 2020, Orlando-area inventory showed 7,030 homes available for sale & a year later, down to only 4,233 homes for sale. According to the report, the Orlando Metropolitan area gained nearly 61,000 new residents in 2020, which is the most in a single year during the past 5 years. Average mortgage rate is hovering at all-time lows of 2.73%, although this trend is forecasted to change in 2021. The full report is available here: February 2021 Market Pulse Report

12539 Floridays Resort Drive, #506D, Orlando, FL 32821 — Just Listed For Sale

Fully-furnished vacation rental available at the fabulous Floridays Resort on International Drive! Beautiful turnkey condo located on the 5th floor with screened balcony overlooking the westside retention pond & 2nd pool area. Condo is modern with stylish furnishings, professional home decor/artwork, interior upgrades, contemporary layout, solid surface counters, ambient lighting, ceiling fans & so much more. Kitchen has all appliances, kitchen island & includes pots, pans & utensils for a true home-away-from-home vacation experience! There’s a stackable W/D utility closet, sleeper sofa, cable TV, plenty of seating areas, full-size dining room table, spacious master bathroom with garden bath, split floor plan & more! The resort features a number of community amenities including 2 pools, clubhouse, front desk, recreation building, fitness center & a shuttle bus service for guests. Whether it’s a weekend getaway or a weeklong, guests are fully self-sufficient for cooking, dining, entertaining, laundry, & a list of amenities for fun & sun. Floridays Resort is ideally located along the world class International Drive corridor only a short distance to Sea World Orlando, Orange County Convention Center, Icon Park, & hundreds of other attractions, entertainment, restaurants, nightlife & more. Disney World theme parks are 15-20+ minutes by car. The resort has on-site professional management including a management agreement & number of restrictions & regulations. Sold as-is, where-is. No Seller’s disclosures. Seller is making no warranties or representations of property condition. Room dimensions are approximate & should be independently verified. Proof of funds/pre-approval letter required with all offers. Buying party is responsible for verifying whether or not property condition will qualify for buyer’s specific loan program. HOA dues may be subject to change, special assessments & must be verified by buyer. MLS information deemed reliable, but not guaranteed. Parties are advised to verify. Seller requires a 10 DOM holding period prior to entertaining any offers.

– Condominium
– 2 Beds/2 Baths
– 957 Sqft.
– Built 2006
– Located on 5th floor
– Fully-furnished
– All kitchen appliances included
– Washer/Dryer in unit
– Central A/C
– Flooring is vinyl plank, ceramic tile & carpet
– Kitchen island, ceiling fans, ambient lighting, patio furniture, split floor plan, solid surface counters, window treatments, professional home decor, artwork, sleeper sofa, & loaded with upgrades
– Amenities include 2 elevators, trash chute, 2 community pools, reception, recreational building & fitness center
– Mandatory HOA with assessments of $537/month, which includes on-site manager, grounds maintenance, amenities, utilities, internet & cable TV
– HOA Rules/Regulations mandate short-term rental & limit the amount of days owners may occupy
– Listed for only $187,200
– Broker’s Protected 3% Commission (Seller does not pay commissions on concessions or seller paid buyer’s closing costs)
– Subject to REO special addendum & REO procedures
– Offer Management Platform charges buyer’s agent $150 technology fee payable at closing
– MLS ID: o5924739
– Listing Courtesy of Jason Crane Real Estate, LLC
– Video Walk-through/Virtual Tour available
– More information with about 30 photos available on http://www.JasonCraneRE.com

Lake-front, newly renovated Maitland 1/1 Condo Just Listed for Rent

Maitland Visconti West Condo For Rent Thank you for your interest in the one bedroom/one bathroom condo For Rent at Visconti West, in Maitland, Florida.

PLEASE TAKE A MOMENT TO READ THE INFORMATION BELOW –

Lake-front condo with full view of Lake Shadow located at the highly sought after Visconti community in Maitland. 2nd Floor condo undergone cosmetic renovations in 2020 including all new carpet flooring with upgraded padding & interior paint. Property includes washer/dryer with laundry closet. Kitchen appliances include refrigerator, oven/range, dish washer & food disposal. Ceiling fans in living room & master bedroom with window treatments included. Condo is a corner unit with screened balcony & lake-front views. Visconti West is one of the most affordable & popular communities in Maitland conveniently located off of I-4/414 exit & across the RDV Sportsplex facilities. Visconti West is a gated community with a number of amenities including clubhouse, resort-style pool, lake-front gazebo, fitness center, playground & on-site community management office.

RENTAL COSTS & INFO –

  • Application Fee $100 per adult over 18 OR $100/married couple charged directly by FirstService Residential/Condo Owner’s Association
  • Prospective residents must pass a comprehensive screening & background check
  • Monthly Rent is $1095/month
  • Refundable Security Deposit of $1250
  • Pets are permitted, but unfortunately, no dogs are being allowed by owner due to a number of past issues.
  • There is no pet deposit. Pet rent will be added in the amount of $25/month per pet.
  • Water/sewer/valet trash services are included with the monthly rent.
  • Condo Owner’s Association (COA) charges $10 for a vehicle barcode or $50 for a gate transponder, payable per resident in addition to the application fee
  • For credit scores below 600, we reserve the right to charge a higher Security Deposit amount OR require first & last month’s rent
  • Minimum lease term is 12 months, as required by COA
  • Monthly Condo Assessments are NOT tenant’s responsibility & payable by owner. Grounds maintenance, amenities, parking & building exterior are managed by COA.
  • “Cost to Move-in” = Application fee + Security Deposit + Vehicle gate access barcode or gate transponder fee + first month’s rent either full month or pro-rated depending on date of move-in

CONDOMINIUM DETAILS –

  • One bedroom/One bathroom
  • Located on 2nd floor, there is no elevator
  • Screened Balcony
  • Washer/Dryer included
  • Kitchen applications included except for microwave
  • Condo is equipped with blinds & ceiling fans in all living areas
  • Corner unit with lake-front views of Lake Shadow
  • 707 Square Feet with Kitchen, Pantry/Laundry closet, Living Room, Bathroom & Master Bedroom with walk-in closet
  • Visconti West was constructed in 2000
  • Available move-in date is April 1st, 2021 although a few days sooner may be possible depending on a couple of variables
  • Community is gated & has a number of amenities including Pool, Fitness Center, Clubhouse, Playground, Gazebo & more
  • COA has standard rules & regulations regarding upkeep, decorations, behavior & use of amenities
  • MLS ID: o5923671
  • Broker’s Protected: $400 Lease Agent Fee payable once lease has been signed

Listed by Realtor & courtesy of Jason Crane Real Estate, LLC in Orlando, Florida.

Orlando Regional Realtor® Association Releases Extraordinary Year-end 2020 Market Numbers

Despite the challenges in 2020, demand for housing across Central Florida continued to surge at historic proportions leading to a 9.1% increase in the overall price of homes (all types) from 2019 to 2020 & a 14% increase during the 2-year period from 2018 to 2020. Since 2018, the median home value has risen from $232,500 to $265,000. In spite of the pandemic lockdowns, home sales in 2020 still managed to surpass 2019 with a 1/2% increase with 36,871 homes in 2020 versus 36,707 in 2019. A story of dwindling inventory: From December 2019 to December 2020, total inventory has plummeted 30.6% creating a current sales pace of only 1.3-month supply of inventory available. Average days-on-market is currently at 45. If new listings ceased, the current inventory would be depleted in about 6 weeks! Analysts generally consider a 6-months supply has a healthy balance of buyers & sellers. The number of homes under contract/pending sales are up 20.9% year-over-year from December to December, another indicator of the strength of demand for housing. The biggest factor of 2020 is the record low interests implemented by the Federal Reserve to aid in the economy recovery process. The avg. mortgage rate paid by homebuyers was only 2.7%, near an all-time record low. Low cost of borrowing & scarce inventory have formed a trend unlikely to be changed during the months ahead as buyers will continue to scramble to find housing in a seller’s market. For contrast, at the bottom of the real estate crisis in January 2011, Orlando’s median home value was $94,900 with 7-months supply of inventory available & ADOM of 96 days.

Orlando Housing Market remains “Hot for the Holidays” as reported in ORRA’s December 2020 Market Report

Orlando Regional Realtor Association® reports the Central Florida median home value at $275,000, up 14.6% year-over-year in its December 2020 Market Report (for data from November 2020). ADOM of 44 days is the lowest in 3 years. Total number of sales is a spiking upwards 25% year-over-year with inventory steadily declining, thus creating an extremely limited 1.72 months’ supply available. If all the homes on the market were to sell, the timeline would take approx. 6 weeks. Economists generally consider a 6 month supply of inventory has a healthy market between buyers & sellers. Avg. mortgage rate of 2.7% is an all-time low as the Federal Reserve is maintaining historically low interest rates to aid in the Covid-19 economic recovery process. Distressed sales, which include REO & short sales, are 1% of all sales. The full report is available here: ORRA Market Pulse Report December 2020

Jason Crane achieves ePro® Certification, the official technology certification of the National Association of Realtors®

Orlando Real Estate Broker, Jason Crane Earns e-PRO® Certification

December 2, 2020– Jason Crane of Jason Crane Real Estate, LLC has successfully completed NAR’s e-PRO® Certification Program and has been awarded the e-PRO® certification, the official technology certification program offered by the National Association of REALTORS®.

Jason Crane joins nearly 40,000 real estate professionals who have earned NAR’s e-PRO® certification and dedicated their time and effort towards learning how to use the latest social media technologies to create an online presence and reach today’s hyper-connected consumers.

NAR redesigned the e-PRO® curriculum to better meet the challenges of today’s real estate market. The new e-PRO® program has been expanded to include data security and strategies for safeguarding clients’ private information.

Social media is evolving every day so it is vital that REALTORS® embrace the new technology and online resources that have become an integral part of the home buying and selling process. Agents who earn the e-PRO® certification are dedicated to making the most of today’s social media and technology to help consumers with their real estate needs, whatever they may be.

For more information about NAR’s e-PRO® certification, visit epro.realtor or JasonCraneRE.com

Orlando Regional Realtor® Assoc. sees “No slowdown going into holiday season” in its November 2020 Market Report

Orlando Regional Realtor Association® reports the Central Florida median home value at $269,950, up 11.6% year-over-year in its November 2020 Market Report (for data from October). ADOM is steady at 48 days. Total number of sales is a spiking upwards 25% year-over-year with inventory is down 37% during the same timeframe, thus creating an extremely limited 1.6 months’ supply available. If all the homes on the market were to sell, the timeline would take approx. 6 weeks. Avg. mortgage rate of 2.72% is an all-time low as the Federal Reserve is maintaining historically low interest rates to aid in the Covid-19 economic recovery process. Distressed sales, which include REO & short sales, are less than 2% of all sales. The full report is available here: ORRA Market Pulse Report November 2020

Orlando Regional Realtor® Assoc. reports “Homes flying off the market” for September 2020

Orlando Regional Realtor Association® reports Central Florida median home value up 10.2% year-over-year in its October 2020 Market Report (for data from Sept.) ADOM is down to only 48 days. Total number of sales is up a whopping 16.3% year-over-year with inventory is down 23.3% during the same timeframe, thus creating an extremely limited 2 months’ supply available. No evidence of a slow down in overall market activity. Avg. mortgage rate of 2.74% is an all-time low as the Federal Reserve is maintaining historically low interest rates to aid in the Covid-19 economic recovery process. The full report is available here: https://www.orlandorealtors.org/housingmarketnarrative?_cldee=amFzb25AamFzb25jcmFuZW9ubGluZS5jb20%3d&recipientid=contact-0778ce58553446e88f0fbfad30d2a416-cbcc6ff665ce401f800394a6e9fc7715&esid=f3148610-e80e-eb11-9c3d-00155d0079cb

Orlando Regional Realtor® Association reports 10% increase in home values for August 2020

Orlando Regional Realtor Association® reports Central Florida median home value up 10% year-over-year in its September 2020 Market Report (for data from August.) Median value now at $275,000 with ADOM holding at only 51 days. Number of home sales rose 3.8% from July to August after stalling from Covid-19 lock-downs. Inventory is down 22.1% year-over-year with an extremely limited 2 months’ supply available. Experts consider 6 months’ supply as a balanced market. Data is indicative a “Seller’s Market” with a very robust demand for housing and declining supply available for purchase. The story is “lack of inventory, not lack of buyer activity.” Distressed property sales, which include short sale & REO homes, has nearly been completely depleted and comprising only 2% of all sales. The average mortgage rate of 2.85% is among the lowest on record. The full report is available here: ORRA Market Pulse Report September 2020