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Buyer Agent-Eye View: Orlando

Dec 13, 2017Market Trends

Nicknamed “The City Beautiful,” Orlando is the 3rd largest metro city in Florida . It has about 2 million people, 5,000 restaurants, 2,000 lakes and 176 golf courses…and the weather is perfect…an annual average of 82 degrees. Orlando, Florida is home to Disney World, Sea World, Universal Studios and many other places where all ages can have fun year round. It is never too cold to fish or too hot to play golf.

Orlando Real Estate is the best kept secret. Affordable homes in beautiful settings, with amenities second to none…pools, outdoor fitness, and golf communities that will take your breath away… some communities even have concierge services available and, of course, there are homes with land for those that want total privacy. If you can dream it, Orlando has it.

Orlando Housing Recovery
Orlando real estate has recovered faster than any other city in Florida.. In 2013, the median price of a single family home rose to $157,000, the highest since 2008 and 25% higher than last year. Median prices are up 48% from January, 2012.
Orlando real estate is definitely a seller’s market as our inventory is low; foreclosures are decreasing along with a sizable decrease in short sales, but there are still great bargains around. Orlando homes come in many styles, from single family to town homes, villas, and condominiums. Currently condos are cash purchases due to a lack of condo financing, but all other styles have many sources for home loans.

The Orlando market is recovering so quickly that the appraisals are not keeping up and are coming in lower than the purchase price. In that case we always ask the seller to reduce the purchase price to the appraised value…we just had one last month where the seller reduced the price $20,000 after the appraisal was short…the buyer was thrilled!

Orlando Homes Prices
The Orlando (Central Florida Area) encompasses 5 counties and about 30 cities. For the sake of simplicity, I will focus on the city of Orlando. Homes that are within 10 miles of the city of Orlando are considered prime pricing due to the central location, close to downtown, close to the Amway Theater, close to the airport and everywhere the action is. Homes can run from $100 per square foot to $400 per square foot. The majority of homes in the city are older (1950-1970) and new homes are scarce as land is at a premium and most land is already developed. New homes are found on the outskirts of Orlando’s eastern side or Windermere on the west side and start at about $300,000+.

Real Estate Agents in Orlando
All real estate agents in Florida are presumed to be “Transaction Brokers” unless you have a written agreement to be represented. Transaction Brokers are facilitators that offer no buyer loyalty, but do not despair…Orlando does have Exclusive Buyers Agents that will represent only you, the home buyer.

 

Eve Alexander, Broker
Exclusive representing only home buyers
Buyers Broker of Florida
Orlando, Florida

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