Tuesday, February 28, 2012
Monday, February 20, 2012
New Listing in Oviedo, FL - Condo/Townhouse for Sale - 3 Beds, 2 Baths - Todd Humphrey - Watson Realty Corp.
28 CANTERBURY BELL Dr, Oviedo, FL 32765 - Condo/Townhouse for Sale - 3 Beds, 2 Baths - Todd Humphrey - Watson Realty Corp.
listing courtesy of Watson Realty Corp.
"Buyers, Sellers & Investors - Maximize Equity....Enjoy Life!"
Friday, February 17, 2012
Just Out - The Commercial Real Estate Sales Prices by State
Commercial Real Estate Sales Prices by State
Take a look at the map below to see where your state falls:
According to NAR’s recently released quarterly Commercial Market Survey, commercial real estate prices were down six percent in the fourth quarter of 2011 compared to the previous quarter.
At the state level in the past quarter, however, the changes have been substantial, with a number of states starting to participate in the economic recovery. Major drivers of commercial real estate prices are jobs and the economic recovery.
On February 17, 2012, in Did You Know, by Jed Smith, Managing Director, Quantitative Research
Take a look at the map below to see where your state falls:
According to NAR’s recently released quarterly Commercial Market Survey, commercial real estate prices were down six percent in the fourth quarter of 2011 compared to the previous quarter.
At the state level in the past quarter, however, the changes have been substantial, with a number of states starting to participate in the economic recovery. Major drivers of commercial real estate prices are jobs and the economic recovery.
On February 17, 2012, in Did You Know, by Jed Smith, Managing Director, Quantitative Research
"Buyers, Sellers & Investors - Maximize Equity....Enjoy Life!"
Monday, February 13, 2012
Great New Listing.....
listing courtesy of Watson Realty Corp.
"Buyers, Sellers & Investors - Maximize Equity...Enjoy Life!"
Friday, February 10, 2012
New Listing in Longwood...
1710 Markham Glen Cir.
$325,000
This is a great 5 bedroom, pool home located in the Markham Woods corridor, on over an acre!
listing courtesy of Watson Realty Corp.
"Buyers, Sellers & Investors - Maximize Equity....Enjoy Life!"
Wednesday, February 8, 2012
http://www.lakemaryrealestatesales.com.z57preview.com/mx/idx/
Link to the MLS instantly to Search Homes for Sale....
http://www.lakemaryrealestatesales.com.z57preview.com/mx/idx/#.TzL4OmTraEg.blogger
http://www.lakemaryrealestatesales.com.z57preview.com/mx/idx/#.TzL4OmTraEg.blogger
Investors Active in Residential Real Estate Market
The December 2011 Realtors Confidence Index survey reports that investors continue to make up a significant share of the existing home sales. Prices in some markets are reported to have declined over the past three years to a point where investors can obtain a positive cash flow after making modest improvements. A number of Realtors® reported that investors are effectively shutting first time buyers out of the market by making all cash offers. This is creating some additional pent-up demand which may become evident later this year. Combine this scenario with those of today's dramatically declining inventory and the increasingly high hurdles that buyers are having to clear to obtain financing and one can understand the frustration on both home buyers' and sellers' faces. Every ebb, has a victor and at the moment, it is indeed the investor.
Tuesday, February 7, 2012
Falling Unemployment Rates: the Bigger Picture
Another way to view it is that the labor force participation rate has shrunk. A normal rate over the past 20 years could be said to be around 66 to 67 percent of people over the age of 16 in the labor force. It started to fall when the recession hit in late 2008 and is now at 64 percent. During tough economic times, many people drop out of the labor force to go to school (anything from technical community to graduate schools). The student debt load is surely piling on. Some companies, in order to save costs, may have offered early retirement packages to a greater number of people. Others may have simply given up looking for work since there is not much hope of finding what they’re looking for anyway. These discouraged workers who have given up looking for work are no longer considered part of the workforce and they are not counted as unemployed even though they do not have a job. To be officially counted as unemployed, a person must be searching for work.
If the labor force were a more normal 66 percent (rather than 64 percent as it is now), and we combined it with the current job level, then the unemployment rate would be closer to 11 percent.
What will happen to the closely-watched unemployment rate in the upcoming months? The discouraged workers who had stopped searching and were out of the labor force may renew their search for jobs in coming months. Until their new job is found they will be counted towards the unemployment rate. As a result, the unemployment rate could rise even as jobs are being created for the country, as people are encouraged to start their search again. However, there are plenty of people who may decide instead to go to school or take early retirement, and those that do are not coming back to the workforce en masse any time soon. So the likely scenario for the unemployment rate is that it will continue to fall for the remainder of the year.
What matters for the housing and the commercial real estate market is not the unemployment rate, but the actual number of people with jobs and earning income. And that, as said above, has been more than a 3 million increase from the low point 3 years ago. Demand for housing and commercial real estate, therefore, should be rising this year.
"Buyers, Sellers & Investors - Maximize Equity....Enjoy Life!"
www.LakeMaryRealEstateSales.com
Monday, February 6, 2012
Orlando area's home-price rebound proves spotty
Click for Video: Orlando area's home-price rebound proves spotty
"Well, there's not a single unifying theme between some of these places, but it's reminiscent of the old adage: All real-estate markets are local," said University of Central Florida economist Sean Snaith. "For some of those areas, it's a desirable location to live. For some of the others, it's a function of prices falling so far prior to last year."
Across the core market, existing-home prices were up about 13 percent during the year, to an average of $166,305 in the fourth quarter, according to the Orlando Regional Realtor Association. The two ZIPs with the biggest increases are Seminole County neighbors: west Altamonte Springs (55 percent) and west Longwood (up 44 percent). The two ZIPs with the biggest declines are on opposite sides of the core market, in Geneva (down 37 percent) and Mount Dora (down 38 percent).
Four factors appear to be driving up prices in the area, based on an analysis of the ZIPs with the largest increases in 2011: a high volume of affordable-condominium sales; the desirability of certain well-known, affluent communities; a move toward urban living in the region; and growth related to the ever-expanding Medical City at Lake Nona and the University of Central Florida in east Orange County.
A heated investor market for condominiums drove up unit prices throughout 2011 and created upward pressure in areas that about six years ago had been consumed by apartment-to-condo conversions, most notably Altamonte Springs, MetroWest and Ventura. Cheap condo prices a year ago made those areas real-estate markets in which prices could only get better, and improve they did.
Demand may be strongest in those relatively affordable, condo-heavy communities partly because the Orange-Seminole market has only a three-month supply of houses listed for less than $100,000, said David Welch, a broker for Re/Max in Winter Park. In comparison, the market has a five-month supply of houses overall. A six-month supply is considered a market in balance.
Welch also noted that, while prices overall for the local market held steady at about $115,000 from the beginning of 2011 until the end, the median price of foreclosed properties increased from about $60,000 to about $70,000.
The perennially desirable Winter Park and Windermere areas, both threaded by chains of natural lakes, also posted strong average-price gains for the year, according to the data compiled by the Orlando Realtor group.
And several downtown Orlando areas, including Delaney Park, experienced rallies that may reflect an increase in single buyers and childless couples not interested in the suburbs.
U.S. census numbers released in December pointed to a shift in demographics that may be driving urban communities such as Delaney Park, which is relatively old, and Baldwin Park, which is very new. According to an analysis of census data by the Pew Research Center, just more than half of all adult Americans — a record-low 51 percent — are married. And the center predicts that the share of married couples among all adults could fall below half within a few years; in 1960, by comparison, 72 percent of adults 18 and older were married.
Lake Mary real-estate broker Doug Packard, who specializes in representing buyers, said the sales numbers may speak to a "mini-trend" of buyers passing on the suburbs.
"For some, the suburban lifestyle just doesn't work," he said. "You rarely see people move from the urban area."
Packard worked last year with a longtime client, David Kind, who wanted to sell his house in Lake Mary and move to Winter Park. Kind said his family was "really happy" in Lake Mary, but the daily realities of commuting on Interstate 4 had become daunting. The family did not get top dollar for its Lake Mary home, selling it in a depressed market, but moved anyway into Winter Park's Windsong community.
"We were looking for a place where we'd be close to amenities, shopping and top schools," Kind said. "We wanted a neighborhood with sidewalks and streetlights. For us, at least, we really wanted the quality of life for our family, and that outweighed other considerations."
Other ZIP codes near the top of the list include Lake Nona, with its emerging residential neighborhoods built near the development's burgeoning Medical City. Similarly, growth at the University of Central Florida has driven demand in the Alafaya Trail area of east Orange County.
The boost in prices overall helped drive Metro Orlando into a top position in realtor.com's ranking of "turnaround towns." That ranking, released last week, was based on listed home prices, unemployment figures, unsold-home inventories and the number of Internet users searching the area's for-sale listings.
Orlando, which ranked third behind Miami and Phoenix, led the nation for the number of people searching its home listings online. Eight of the top 10 metro areas ranked as turnaround towns were in Florida.
The real-estate-research firm Trulia also released a report last week showing Orlando among its top 10 U.S. metro areas in terms of interest coming from online house hunters. Trulia chief economist Jed Kolko said it's all about affordability.
"What I think is behind the search activity we're seeing for Orlando, and for Florida in general, is that prices have fallen so much during the bust in Florida that it looks more affordable to many people in other parts of the country than it has looked in years," Kolko said.
"Well, there's not a single unifying theme between some of these places, but it's reminiscent of the old adage: All real-estate markets are local," said University of Central Florida economist Sean Snaith. "For some of those areas, it's a desirable location to live. For some of the others, it's a function of prices falling so far prior to last year."
Across the core market, existing-home prices were up about 13 percent during the year, to an average of $166,305 in the fourth quarter, according to the Orlando Regional Realtor Association. The two ZIPs with the biggest increases are Seminole County neighbors: west Altamonte Springs (55 percent) and west Longwood (up 44 percent). The two ZIPs with the biggest declines are on opposite sides of the core market, in Geneva (down 37 percent) and Mount Dora (down 38 percent).
Four factors appear to be driving up prices in the area, based on an analysis of the ZIPs with the largest increases in 2011: a high volume of affordable-condominium sales; the desirability of certain well-known, affluent communities; a move toward urban living in the region; and growth related to the ever-expanding Medical City at Lake Nona and the University of Central Florida in east Orange County.
A heated investor market for condominiums drove up unit prices throughout 2011 and created upward pressure in areas that about six years ago had been consumed by apartment-to-condo conversions, most notably Altamonte Springs, MetroWest and Ventura. Cheap condo prices a year ago made those areas real-estate markets in which prices could only get better, and improve they did.
Demand may be strongest in those relatively affordable, condo-heavy communities partly because the Orange-Seminole market has only a three-month supply of houses listed for less than $100,000, said David Welch, a broker for Re/Max in Winter Park. In comparison, the market has a five-month supply of houses overall. A six-month supply is considered a market in balance.
Welch also noted that, while prices overall for the local market held steady at about $115,000 from the beginning of 2011 until the end, the median price of foreclosed properties increased from about $60,000 to about $70,000.
The perennially desirable Winter Park and Windermere areas, both threaded by chains of natural lakes, also posted strong average-price gains for the year, according to the data compiled by the Orlando Realtor group.
And several downtown Orlando areas, including Delaney Park, experienced rallies that may reflect an increase in single buyers and childless couples not interested in the suburbs.
U.S. census numbers released in December pointed to a shift in demographics that may be driving urban communities such as Delaney Park, which is relatively old, and Baldwin Park, which is very new. According to an analysis of census data by the Pew Research Center, just more than half of all adult Americans — a record-low 51 percent — are married. And the center predicts that the share of married couples among all adults could fall below half within a few years; in 1960, by comparison, 72 percent of adults 18 and older were married.
Lake Mary real-estate broker Doug Packard, who specializes in representing buyers, said the sales numbers may speak to a "mini-trend" of buyers passing on the suburbs.
"For some, the suburban lifestyle just doesn't work," he said. "You rarely see people move from the urban area."
Packard worked last year with a longtime client, David Kind, who wanted to sell his house in Lake Mary and move to Winter Park. Kind said his family was "really happy" in Lake Mary, but the daily realities of commuting on Interstate 4 had become daunting. The family did not get top dollar for its Lake Mary home, selling it in a depressed market, but moved anyway into Winter Park's Windsong community.
"We were looking for a place where we'd be close to amenities, shopping and top schools," Kind said. "We wanted a neighborhood with sidewalks and streetlights. For us, at least, we really wanted the quality of life for our family, and that outweighed other considerations."
Other ZIP codes near the top of the list include Lake Nona, with its emerging residential neighborhoods built near the development's burgeoning Medical City. Similarly, growth at the University of Central Florida has driven demand in the Alafaya Trail area of east Orange County.
The boost in prices overall helped drive Metro Orlando into a top position in realtor.com's ranking of "turnaround towns." That ranking, released last week, was based on listed home prices, unemployment figures, unsold-home inventories and the number of Internet users searching the area's for-sale listings.
Orlando, which ranked third behind Miami and Phoenix, led the nation for the number of people searching its home listings online. Eight of the top 10 metro areas ranked as turnaround towns were in Florida.
The real-estate-research firm Trulia also released a report last week showing Orlando among its top 10 U.S. metro areas in terms of interest coming from online house hunters. Trulia chief economist Jed Kolko said it's all about affordability.
"What I think is behind the search activity we're seeing for Orlando, and for Florida in general, is that prices have fallen so much during the bust in Florida that it looks more affordable to many people in other parts of the country than it has looked in years," Kolko said.
8:48 p.m. EST, February 4, 2012
"Buyers, Sellers & Investors - Maximize Equity....Enjoy Life!"
Saturday, February 4, 2012
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