There are a handful of premier east metro Orlando neighborhoods that I simply love. University Estates is one of them. When I drive thru these certain neighborhoods, I say aloud to no one in particular “I would live here in a heartbeat” (I live in east metro Orlando, though not University Estates). I want to share with you why I consider this neighborhood to be a stand out.
What I find intriguing about University Estates is their great sales over the past 90 days, which is atypical for east metro Orlando. Sales are hot and houses are moving! And these sales were not “short sales”, though there was one bank-owned. These were arm’s length transactions with seller and buyer being traditionally motivated. Though not a large neighborhood by any means (just 374 single family homes), this neighborhood is churning out the sales.
Why such sales activity in this neighborhood compared to other neighborhoods? Simple…good homes priced right sell.
Good Homes University Estates is simply a gem. It is a lush, developed, more mature neighborhood. The location is top notch - nestled between UCF and the city of Oviedo. There is easy access to Alafaya, 408 and 417. There is convenient shopping nearby – basic shopping (grocery, drug store, dry cleaning) plus destination shopping (malls, large shopping centers) as well as numerous professional and medical offices. The elementary and middle schools are both A-rated.
Priced Right Here are actual sales from the Multiple Listing Service (MLS) for the past 90 days (list is sorted by ascending sold price): sold
The majority of these homes (9 of 12) sold between $267,000 and $305,000 at an average of 93% of list price – these were not short sales and only one was bank-owned. These closed sales are a strong example of good homes being priced right, priced according to market.
Before a homeowner can make the decision to sell, the first and last question is all about the numbers. How much money are we going to make? With that, I submit to potential University Estates sellers: price your home correctly from the start and price according to market. Simple advice, but I believe this will be the wisest decision you will ultimately make in the sale of your home. The buyer of your home is coming armed and prepared with facts, data and a good agent - and they know what your competition has sold for.
Yes, all of our east metro Orlando homes were worth $50,000, $75,000 and $100,000+ more two and three years ago, but that’s history. You will not sell your home today for what it was worth at its peak in 2005/2006. Fact. Unfortunately as a realtor, I still regularly see homes listed at 2005/2006 prices…and it’s no surprise that the homes get zero showings and ultimately, languish on the market and never sell.
Though closed sales provide the strongest supported evidence of home values, sellers should also consider the competition in active, pending and expired status: active/pending/expired
Moral of this story: good homes priced right sell.
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