Orlando Regional Realtor Association® reports Central Florida median home value up 12.2% year-over-year in its May 2020 Market Report. Median value now at $263,750 with ADOM holding at only 47 days. Major decline of 28% in home values as the impact of the Covid-19 pandemic is becoming apparent. The on-going decline in inventory slowed to 2.9% year-over-year with a current pace of only 2.4 months supply. Experts consider 6 months supply as a balanced market. Data is indicative a “Seller’s Market” with an extremely robust demand for housing with declining supply available for purchase. Only 105 distress sales closed across the Orlando Metropolitan Area during the entire month of April 2020, a market that has almost completely depleted. Distressed properties are only comprising less than 3% of all sales. As measured by the median home value, Central Florida is finally within $700 of peak of July 2007, where the median home value was reported as $264,436. It’s taken 9.5 years since the market bottom on January 2011 for the market to recover & attain peak level of the mid-2000’s real estate boom. The full report is available here: ORRA’s May 2020 Market Pulse Housing Report
Orlando Regional Realtor Association® reports Central Florida median home value up 7.9% year-over-year in its April 2020 Market Report. Median value now at $253,500 with ADOM holding at only 54 days. Inventory is down a substantial 9.6% year-over-year with a current pace of only 2.3 months supply! Experts consider 6 months supply as a balanced market. Year-over-year sales increased by 27.1% from March 2019. Pending sales down by 14.9% year-over-year. Data is indicative a “Seller’s Market” with an extremely robust demand for housing with declining supply available for purchase. Only 80 distress sales closed across the Orlando Metropolitan Area during the entire month of March 2020. Distressed properties are only comprising less than 3% of all sales. Sales numbers are strong & home values continuing to increase on a monthly basis. The initial impact of the Covid-19 crisis on Central Florida real estate will be available within the next 30 days. The full report is available here: April 2020 Market Pulse Report for data from March 2020
Amazing opportunity for this contemporary, spacious Clermont 3/2 single-family home featuring a number of renovations & upgrades. Interior features vaulted ceilings, ceiling fans, window treatments, laundry room, 2 car garage, tile in main living/wet areas & carpet in bedrooms & walk-in-closet. Kitchen includes stainless steel appliances, microwave hood, double sink, & plenty of cabinet space. Garden tub in master bath & dual sinks. There’s a convenient bonus room equipped with opaque french doors that could be used as an office, guest room, extra storage, library or myriad of other options. Superb entertaining space in the rear with fenced yard & covered patio. Utility Shed for storage. Greater Hills is located only 15 minutes from downtown Clermont. S Lake Trl/West Orange Trl only 1 block away. Other area attractions including Waterfront Park, Sanctuary Ridge Golf Club, Legions Way Ballfields, Johns Lake Boat Ramp, Orlando Health South Lake Facility, Florida Scenic Highway, Bella Collina, & so much more. Disney World & Universal Orlando within 30-45 min by car. 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 are subject to change & special assessments & must be verified by buyer. MLS information deemed reliable, but not guaranteed. Parties are advised to verify. The seller requires a 10 DOM holding period prior to entertaining any offers. Employees or directors of JPMorgan Chase & Co. and its direct and indirect subsidiaries are strictly prohibited from directly or indirectly purchasing any property owned or serviced by or on behalf of JPMorgan Chase & Co. or its direct and indirect subsidiaries.
- Single-Family Home
- One floor
- 1511 Sqft.
- Built 1999
- 3 Bedrooms/2 Bathrooms
- 0.23 Acres Lot
- Mandatory HOA with a required assessment of $442.85 per year.
- Broker’s Protected 3% Commission minus $150 (Seller does not pay commissions on concessions or seller paid buyer’s closing costs)
- Buyer’s Agent is charged a mandatory $150 Technology Platform Fee deducted from Commission
- Just Listed for only $212,800
- MLS ID: o5854172
- Bank-owned/REO Status & Subject to Special Bank Addendum
- Listing Courtesy of Jason Crane Real Estate, LLC
- Video walk-through/Virtual Tour available
- More information, about 30 photos & property details are available on JasonCraneOnline.com
Orlando Regional Realtor Association® reports Central Florida median home value up 6.4% year-over-year in its March 2020 Market Report. Median value now at $250,000 with ADOM holding at only 58 days. Inventory is down a whopping 16.7% year-over-year with a current pace of only 2.7 months supply! Experts consider 6 months supply as a balanced market. Year-over-year sales increased by 4.4% & up 11% from last month (January 2020). Pending sales up by 10.9% year-over-year. Distressed properties are only comprising less than 4.4% of all sales. Data is indicative a “Seller’s Market” with an extremely robust demand for housing with dwindling supply available for purchase. Sales numbers are strong & home values continuing to increase on a monthly basis. The full report is available here: March 2020 Market Pulse Report for data from February 2020.
Not to be insensitive to the current plight of the world, but while everyone is paralyzed by fear & uncertainty, or using this time to stay glued to television screens for latest crisis updates or for watching Netflix, there will be about 1-2% of you out there who will see that once-in-a-decade event as an opportunity.
Definitely NOT advocating people to take advantage of someone else’s pain & suffering, but rather people be open-minded & receptive to ideas or other points-of-view.
Those of you who are willing to hustle, take risks, put money to work, make investments or provide a service, this will be your chance create wealth & work towards the ultimate goals of attaining Financing Freedom & Financial Independence.
During the Great Recession & financial crisis, I personally closed 344 real estate deals from 2008-2010; most of which were dilapidated houses sold to investors who rehabilitated homes & rebuilt neighborhoods. During & after the real estate collapse, I also purchased 15 real estate investment properties & have rehabilitated 13 of those providing housing to 22 residents/families.
8 Opportunities Knocking on your Door:
1. Fed reduced interest rates to the lowest levels ever. If there was a time to get a mortgage or refinance, it is now.
2. US Stock Markets indexes are down 28% this month. Although I am not an authority or expert on equity markets nor making any recommendations, opportunities may exist particularly in the sectors that have been the most devastated; i.e. airlines, cruise lines, hospitality, casinos, dine-in restaurants & energy; as well as oversold perennial blue chip companies.
3. Real estate — Vacation rental industry will be strained by cancellations, vacancies & will likely experience a spike in listing inventory. Also, loan defaults will be on the rise.
4. Shut-downs & self-quarantining will sadly hurt small businesses the most & will likely see a number of businesses being listed for sale in upcoming months.
5. Demand for loans will rise, particularly small business loans, to offset cash shortages & balance sheet deficiencies.
6. Following industries & will emerge as the “beneficiaries” (for lack of a better word) health care, professional cleaning services, cleaning products, food delivery, shipping, streaming movies, video conferencing, processed food/snacks, super markets & pharmaceutical companies (most specifically vaccine-oriented.)
7. Federal government will be implementing a massive fiscal stimulus program to assist all Americans, most likely in the form of cash payments.
8. Worst hit industries, mostly likely the airlines, will be seeking a federal government bailout. Travel fares & vacation packages will be the lowest levels since 9/11 crisis.
People & businesses will be needing assistance & those who are positioned to provide help, solve problems & service a need will greatly aid in the recovery efforts.
The overall point is to be willing to view a situation from various different perspectives.
Sincerely hope everyone stays save during this temporary health crisis & we’re able to unite as a country to overcome the epidemic.
Wishing everyone well.
Orlando Regional Realtor Association® reports Central Florida median home value up 7.9% year-over-year in its February 2020 Market Report. Median value now at $245,000 with ADOM holding at only 60 days. Inventory is down 14.7% year-over-year with only 3.1 months supply. Experts consider 6 months supply as a balanced market. Year-over-year sales increased by 16% & pending sales up by 8% year-over-year. Distressed properties are only comprising less than 4.8% of all sales. Data is indicative of a very strong seller’s market with housing supply shortage and robust demand for housing. The full report is available here: ORRA Market Pulse Report February 2020
Lake-front condo with full view of Lake Shadow located at the highly sought after Visconti community in Maitland. 2nd Floor condo has just undergone cosmetic renovations including all new carpet flooring with upgraded padding & interior paint. Property includes washer/dryer with laundry closet. Kitchen appliances include refrigerator, oven/range, dishwasher & 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. Refundable Security Deposit of $1250. HOA has tenant approval process with mandatory $100 application fee. Visconti has pet restrictions & due to past issues, owner will not permit pet dogs. No pet deposit is required, however there’s a Pet Rent of $25/month in addition to the standard monthly rental amount. HOA does charge nominal fees for gate bar code, amenity card & mailbox key, if applicable.
- One Bedroom/One Bathroom
- 707 Sqft.
- Built 2000
- 2nd Floor Condominium
- Screened Balcony with Lake-front Views to Lake Shadow
- Included Refrigerator, Oven/Range, Dishwasher, Disposal, and Washer/Dryer
- Ceiling Fans in Bedroom & Living room
- Blinds/Window Treatments in all rooms
- Central A/C
- Corner Unit
- Renovated in 2019 with New Carpet Flooring, Upgraded Prime Padding, & Interior Paint throughout
- Water/Sewer/Valet Trash Removal are included
- Condo community amenities include Playground, Clubhouse, Community Pool, & Fitness Center
- Community is Gated
- $1059 per Month
- $1250 Refundable Security Deposit
- $100 Application Fee payable to HOA for HOA-approval & background check
- HOA charges nominal fees for gate bar code, amenity key & mailbox key, if applicable.
- Broker’s Protected: $400 Lease Agent fee payable, agent MUST show interior to review fee. It will be paid once the lease has been signed.
- MLS ID: O5836668
- Listing Courtesy of Jason Crane Real Estate, LLC.