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
Orlando Regional Realtor Association® reports Central Florida median home value up 9.2% year-over-year in its July 2020 Market Report. Median value now at $270,000 with ADOM holding at only 54 days. Number of home sales rose 18.6% from June after stalling from Covid-19 lock-downs. Inventory is down 22.2% 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. 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 2.97% is among the lowest on record. The full report is available here: Orlando-area Housing Market Activity July 2020
Orlando Regional Realtor Association® reports Central Florida median home of $265,000 in June 2020, which slight edges the peak median home value of $264,436 reported in July 2007. Orlando’s real estate market took exactly 13 years to rebound to peak levels of the 2000’s boom. Home sales skyrocket by 46% in the wake of the Covid-19 lock down from May to June 2020. Inventory is down a massive 18.6% year-over-year with a brief 3.4 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. Use of technology, virtual tours & “online shopping” assist buyers on home searches while conducting business safely. Distressed property sales, which include short sale & REO homes, has nearly been completely depleted and comprising less than 3% of all sales. Central Florida home values are up 179% since the market bottom of January 2011. The full report is available here: ORRA Market Pulse Report July 2020
Incredible opportunity for this Lake Eola frontage mid-rise condo with views of Lake Eola & Lake Eola Park from the bedroom & living room! BEST DEAL IN DOWNTOWN ORLANDO! Top (6th) condo renovated in 2019 with all new paint, porcelain tile flooring, baseboards, crown molding, refurbished bathroom, & window treatments. Condo shows magnificently! Interior features thick double pane windows, washer/dryer, partial granite counter top in kitchen, double sink in kitchen, dual A/C climate control, & all stainless kitchen appliances — microwave, refrigerator, dishwasher, disposal & flat-top oven/range. Building is located in the heart of downtown only blocks from Walt Disney Amphitheater, Wall Street Plaza, Orange Ave, Church Street, Thornton Park, Dr. Phillips Center for the Performing Arts, Amway Center, Exploria Stadium, Famu School of Law, SunRail & so much more! You are walking distance to 50+ bars, restaurants & nightlife! Community features fitness center, pool, outdoor grill, gated entrances, 3 elevators, 24-hour security, 2 parking garages, on-site property management & recreational facilities. Each floor has a community trash closet for convenient disposal. Community is currently undergoing a major refurbishment project with new lobby & new corridors. The 6th floor in the North Building is currently undergoing upgrades/renovations scheduled to be completed in August 2020. There is 1 deeded, assigned parking space in the North Garage, #158. Both A/C handlers were inspected & serviced in June/July. Kitchen/bathroom are partially staged & accessories don’t convey. Appliances & window treatments are incl. w/ sale. Also, included with the sale are unit card, gate transponder & building entry card. Condo is being sold as-is. Please note, there is NO balcony at this unit & the windows do not open. Hurry up & grab this deal! Downtown Orlando living at the most affordable price with stunning views of Lake Eola Park & the fountain.
- 1 Bedroom/1 Bathroom
- 645 sqft.
- Build 1963
- 1 Parking Space Reserved in on-site parking garage — Space 158
- Features Porcelain Tile Flooring, Stainless Steel Appliances, Washer/Dryer, Window Treatments, Double Pane Windows & Dual A/C Climate Control
- Mandatory HOA with Monthly Assessments of $355
- Community Amenities include Community Pool, Outdoor Bar & Grill, Recreational Facilities, 3 Elevators, Garage Parking, Gated Entrances, Building Security & On-site Property Manager
- Broker’s Protected 3% Commission (Seller does not pay commissions on concessions or seller paid buyer’s closing costs)
- Just Listed for only $134,900
- MLS ID: o5877113
- Listing Courtesy of Jason Crane Real Estate, LLC
- Video walk-through/Virtual Tour available
- More information, about 25 photos & property details are available on www.JasonCraneOnline.com
Orlando Regional Realtor Association® reports Central Florida median home value up 7% year-over-year in its June 2020 Market Report. Median value now at $259,900 with ADOM holding at only 48 days. Major decline of 44% in number of home sales as the impact of the Covid-19 pandemic is becoming apparent. Inventory is down 10.6% year-over-year with an extremely limited 2.1 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. Distressed property sales, which include short sale & REO homes, has nearly been completely depleted and only comprising 3% of all sales. As measured by the median home value, Central Florida is still 1.8% below the housing peak in 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 nearly recover to the record levels of the mid-2000’s real estate boom. The full report is available here: May 2020 ORRA Housing Market Press Release
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 sales 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
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.