By Beth Braverman, CNNmoney.com
In a hurry to sell your home? Here's how to make sure you snag the best price in shortest amount of time.
Dec 30, 2009
Dec 25, 2009
Good Ol’ Waterford Lakes
Ah, good ol’ Waterford Lakes…you never let me down. $5,700,000 in home sales (31 transactions) in the past 60 days. Recession…what recession?
Waterford Lakes will always be the premier east Orlando community on any day in any market – people simply want to call Waterford Lakes home. It’s not the newest community or the community with the fanciest amenities; however, it is the most solid community around. Constant high demand, affordable, excellent location, quality look and feel, A-rated schools - solid. HOA is right about $40/mo depending on size of home.
As a realtor, I would refer buyers to Waterford Lakes any day of the week.
See available homes
Waterford Lakes will always be the premier east Orlando community on any day in any market – people simply want to call Waterford Lakes home. It’s not the newest community or the community with the fanciest amenities; however, it is the most solid community around. Constant high demand, affordable, excellent location, quality look and feel, A-rated schools - solid. HOA is right about $40/mo depending on size of home.
As a realtor, I would refer buyers to Waterford Lakes any day of the week.
See available homes
Dec 22, 2009
Woodbury Road Construction
Wondering about the who, what, where and when of the massive road construction project on Woodbury Rd? City of Orlando web site
Dec 17, 2009
Remember Condo Conversions?
Remember the condo conversion craze just a few years back? That’s when buyers wanted to buy anything and everything and numerous large apartment communities ‘went condo’. Condo conversions are still around; however, in the form of resales at less than half the original purchase price (ouch!). Like the single family and townhouse resale market, distressed sales (bank-owned and short sales) dominate.
That huge complex off 408 on Alafaya is Crest at Waterford Lakes. There were 13 sales in the past 60 days (not surprisingly, all distressed sales) taking an average of 80 days to close:
1 bedrm $41,000 avg sale
2 bedrm $52,000 avg sale
3 bedrm $60,000 avg sale
With incredibly affordable prices, this community is a great option for single buyers who work on the east side, for retirees wanting to be close to their kids who live and work on the east side, for parents of UCF students looking to buy a little place for their child to live in while attending school. However, monthly HOA is very expensive at right around $300/mo depending on size of unit.
See available condos
That huge complex off 408 on Alafaya is Crest at Waterford Lakes. There were 13 sales in the past 60 days (not surprisingly, all distressed sales) taking an average of 80 days to close:
1 bedrm $41,000 avg sale
2 bedrm $52,000 avg sale
3 bedrm $60,000 avg sale
With incredibly affordable prices, this community is a great option for single buyers who work on the east side, for retirees wanting to be close to their kids who live and work on the east side, for parents of UCF students looking to buy a little place for their child to live in while attending school. However, monthly HOA is very expensive at right around $300/mo depending on size of unit.
See available condos
Dec 13, 2009
Brisk Sales in Woodland Lakes
As a realtor, I take pride in introducing my buyer clients to communities in their desired location and budget that they’ve never heard of or normally wouldn’t consider.
Located 1/3 mile west of Alafaya & Curry Ford, Woodland Lakes is a new community (less than five yrs old) that I have found few buyers know of. It’s a nice alternative to the massive east Orlando communities of Avalon Park, Stoneybrook, Eastwood and Waterford Lakes, but has easier access to Alafaya and 408 because this community is not along the main artery of Alafaya. HOA is $100/mo for this gated community with community pool, cabana and playground.
In the past 60 days, there’s been 10 sales – six distressed sales at an average of $211,000 for 2,700 sq ft and four normal sales at an average of $237,000 for 1,900 sq ft.
See available homes
Located 1/3 mile west of Alafaya & Curry Ford, Woodland Lakes is a new community (less than five yrs old) that I have found few buyers know of. It’s a nice alternative to the massive east Orlando communities of Avalon Park, Stoneybrook, Eastwood and Waterford Lakes, but has easier access to Alafaya and 408 because this community is not along the main artery of Alafaya. HOA is $100/mo for this gated community with community pool, cabana and playground.
In the past 60 days, there’s been 10 sales – six distressed sales at an average of $211,000 for 2,700 sq ft and four normal sales at an average of $237,000 for 1,900 sq ft.
See available homes
Dec 11, 2009
$71,000,000 in East Orlando Sales
Heard about the resurgence in Orlando home sales? Well, the proof is in the pudding…check out these numbers! In the past 60 days alone, East Orlando has seen $71,000,000 worth of real estate sales. Since we essentially have two real estate markets running parallel of each other today (normal vs distressed), sales need to be reported as such.
Normal sales
- 152 single family homes sold for an average of $208,000 (115 days average to close)
- 13 townhomes sold for an average of $161,000 (123 days average to close)
- 5 condos sold for an average of $66,000 (163 days average to close)
Distressed sales (bank-owned or short sale)
- 202 single family homes sold for an average of $161,000 (149 days average to close)
- 23 townhomes sold for an average of $104,000 (170 days average to close)
- 42 condos sold for an average of $52,000 (82 days average to close)
Distressed homes came out an extreme discount for buyers – buyers of distressed homes bought at an average of 27% less than buyers of normal homes. However, these cost savings came at a price to homebuyers - additional time. Buyers of distressed single family homes took an additional 33 days to close and buyers of distressed townhomes took an additional 47 days to close on average.
An agent’s view on these trends: first and foremost, I am pleased to see inventory being cleared out, particularly distressed sales. These distressed sales that presently dominate our market depress everyone’s home value including mine. I want to see these distressed sales gone and closed, so we can get back on track to ‘normal’ home appreciation. This cannot happen until these stagnant, poor condition, low priced distressed sales are wiped out. Second, I would use this info to counsel buyers – do you want a cheap home, go for a distressed home. Do you want a quick home – go for a normal home. Cheap and quick don’t go hand in hand. If you want cheap, buyers will need to bide their time. If you want quick, buyers will need to pay a premium.
Normal sales
- 152 single family homes sold for an average of $208,000 (115 days average to close)
- 13 townhomes sold for an average of $161,000 (123 days average to close)
- 5 condos sold for an average of $66,000 (163 days average to close)
Distressed sales (bank-owned or short sale)
- 202 single family homes sold for an average of $161,000 (149 days average to close)
- 23 townhomes sold for an average of $104,000 (170 days average to close)
- 42 condos sold for an average of $52,000 (82 days average to close)
Distressed homes came out an extreme discount for buyers – buyers of distressed homes bought at an average of 27% less than buyers of normal homes. However, these cost savings came at a price to homebuyers - additional time. Buyers of distressed single family homes took an additional 33 days to close and buyers of distressed townhomes took an additional 47 days to close on average.
An agent’s view on these trends: first and foremost, I am pleased to see inventory being cleared out, particularly distressed sales. These distressed sales that presently dominate our market depress everyone’s home value including mine. I want to see these distressed sales gone and closed, so we can get back on track to ‘normal’ home appreciation. This cannot happen until these stagnant, poor condition, low priced distressed sales are wiped out. Second, I would use this info to counsel buyers – do you want a cheap home, go for a distressed home. Do you want a quick home – go for a normal home. Cheap and quick don’t go hand in hand. If you want cheap, buyers will need to bide their time. If you want quick, buyers will need to pay a premium.
Dec 8, 2009
Innovation Way Website
Here is Orange Co’s website about all things Innovation Way, the link between UCF and the airport.
Dec 1, 2009
Ease Short Sales?
The Obama administration laid out final guidelines yesterday that should make it easier for some financially troubled borrowers to sell their homes. Under the plan, borrowers will receive $1,500 from the government if they sell their homes for less than the amount of their mortgages. Mortgage-servicing companies will also receive $1,000 for each completed short sale.
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