Hello, Florida Calling!

Home sales in Orlando have doubled since 2008. What are you waiting for?     

According to the latest numbers, home sales in Central Florida have doubled since 2008. Interest rates remain in the historically low 4 to 5 percent range, making homeownership more affordable than ever.

So what are you waiting for? Act now. This truly is the best time ever to buy a home in Central Florida.

Why it’s a good time to buy a home in Orlando

Although many try to forecast when prices will hit bottom, the truth is that no one can predict the bottom of any market until it has already happened.

Even within the Orlando market, different areas will “bottom” out at different times. Price fluctuations within each area of the Orlando market also differ.

Buyers who hold off purchasing a home because they are waiting for prices to fall further may miss out on the home that they really want. The inventory of homes available for purchase, especially condos, is on a steady decline.

Home prices have moderated, interest rates are at 40-year lows and the supply of homes for sale is plentiful. However, inventory has decreased by more than 37 percent since this time three years ago.

Currently, about 75 percent of Orlando homes sales are foreclosures and short sales, which are typically priced much lower than “normal” homes. These types of homes sales continue to put downward pressure on the reported median or average sales price.

Low interest rates, coupled with price declines, give trade-up buyers a unique opportunity to take advantage of market conditions. What an owner may lose on the sell side can be more than recovered on the buy side. So say Hello, Florida is Calling!!!!!!