Orlando’s Top Ten Real Estate Deals!

Orlando Real Estate Pros are now producing Orlando’s “Top Ten” real estate deals” for a zingy new, nationwide real estate website called, yes… Top10RealEstateDeals.com

Each month, we’ll be selecting the best of Orlando’s real estate deals and will bring them directly to this new listings site.

You’ll find our first Orlando top ten on their site right now: Orlando Real Estate Deals. We’ll also be syndicating the deals to our own sites both here and also at: CondoMetropolis.com

These opportunities represent just a few of the more than 22,000 units on the Orlando homes market at present. Contact us for more info on these or if you’re not seeing something that suits you, just let us know and we’ll perform a custom search of the central Florida MLS database for you at no charge.

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Villa Esperanza 1st place winner street of dreams

Bella Collina Offered at under $8,000,000.

Built in 2006, this incredible residence is located on Lake Siena in the Country Club & Equestrian Community of Bella Collina. 

 

Enter through a stone-covered front entry to a private courtyard with a reflecting pool with fountains. Arched front doors lead to a 2-story foyer with a hand-laid mosaic tile rug. Ahead is the Grand Living Room, with a curved ceiling & stone fireplace with a spectacular view of the terrace, pool & lake. Dining Room has an arched brick ceiling with wall of stone. Study has wide-plank walnut floors, custom woodwork; gourmet kitchen features glazed knotty Alder cabinets with granite tops, blah blah, yada yada, I could go on for another 6 paragraphs, balcony overlooks lake, pool, & terrace,heated pool Spa & Summer Kitchen, 4-Car Garage. Sold fully furnished and decorated. Lease Purchase available!

To schedule a private tour, call us on: 407-290-3408.

This listing has been sampled from the mid Florida region MLS.

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Home Affordability Best Since 1970’s

Good news for Home Buyers: Recent data from the National Association of Realtors (NAR) indicates that its home affordability index is at the best levels since the 1970’s. The index compares average family incomes to average home prices nationaly. A value of 100 signifies that a family earning the median income has enough income to qualify for a mortgage on a median-priced home, where the monthly payment is conservatively figured to not exceed 25% of the monthly family income.

The current Home Affordability Index is currently at a staggering 141.8 - which means that a family earning the median family income has 141.8 % of the income necessary to qualify for a conventional loan covering 80 percent of a median-priced existing single-family home. This is even better than the number of 119.4 from the same time last year, and is in fact the best since the early 1970s - and the best ever since the NAR began determining this ratio monthly in 1981.

Orlando Real Estate is no exception and prices here have never looked better. Of course financing is more challenging today although interest rates are still at historic lows.

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Orlando Real Estate: Market Conditions

Real estate sales are still down in Orlando - and nationwide, including in the new home sector which experienced a 2.9 % decline. This news by the Commerce Department, who say that this is the slowest home sales pace since January 1991.

The report shows that regionally, new-home sales were mixed in November 2008, with two regions posting gains and two posting declines. The Northeast and West each regained some ground, with 14.3 percent and 11 percent gains, respectively, while the Midwest and South posted declines of 16.4 percent and 7.1 percent, respectively. All four regions were reported to be down by more than 25% on a year-over-year basis.

“The fact that new-home sales continue to decline even in the face of substantial builder incentives, very favorable mortgage rates and improved housing affordability shows how fearful consumers have become about making a home purchase in the current economic environment. That’s why it is absolutely necessary for the government to take action that will reassure home buyers and stimulate demand in order to help revive home sales and economic growth,” said National Association of Home Builders (NAHB) Chairman Sandy Dunn, a home builder from West Virginia.

Orlando real estate roughly mirrors the national trend. This, of course means there are some tremendous bargains out there at the moment in the Orlando metro area. “We’re not just talking about Orlando home prices being down from their 2005 peak to where they would have been,” says Marcus Burke, broker of the Orlando Real Estate Pros, “We’re now seeing some foreclosure deals that are almost too good to be true. For those that have been waiting on the sidelines, now’s the time to jump in and cherry pick those deals.”

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