Orlando Real Estate Genie: Your Wish Is My Command!

For those that still need convincing that it’s time to make that Orlando home purchase, comes some interesting date from the Orlando Regional Realtor Association (ORRA). The average price of an Orlando house sold in January 2009 ($148,274) decreased by 33.06% compared to January 2008 - on top of that, the area’s average interest rate dropped to its lowest point since May of 2005, creating a perfect storm for would-be home buyers.

Think about it. As a buyer, what would make conditions perfect for buying? In an ideal buyer’s market, what FOUR wishes (that’s a good start) could the Real Estate Genie possibly grant you as an incentive to buy? How about:

• Large inventory; over supply, massive choice;
• Low interest rates;
• An $8000 non-repayable government loan for first-time buyers might be nice;
• Silly prices, not only reversing the gains of the last few years but going beyond that and taking us back to pre-2005 pricing. Fifty cents on the dollar, twenty-five cents on the dollar… whatever.
   

“Yes, yes! That’s exactly what I want!” you exclaim to your Real Estate Genie. “One couldn’t hope for a better market than that. Give it to me now baby!”

Then, Poof!

“You got it!” says the Genie. “Now go snap up a deal while you can!”

“Um,” you say, “Well, um, actually, I’m just not convinced the time is right yet. I mean… you know…”

Now if I were a Real Estate Genie, whose only personal real estate consisted of an over-priced, cramped, misshapen, green bottle, I would smack you upside the head with said bottle, before taking back my wishes and offering them to a more realistic buyer. Hrumph!

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