What’s selling in east Orlando? Single family homes were the strongest seller in the past 60 days. These top-selling communities had 100 single family homes change hands primarily to owner-occupants.
Avalon Park
Bella Vida
Cypress Springs
Spring Isle
Timber Springs
Waterford Lakes
Waterford Trails
Still laden with high distressed inventory (bank-owned & short sale), half of sales were bank-owned & 1/3 of sales were short sales – this is where buyers found the best values by far. No ‘normal’ seller can compete with distressed sale prices. However, these bargains will not be around for long.
I anticipate yet another significant swing in the real estate market come summer 2011 – these ‘bargain’ homes will quickly become few & far between once first time buyers & investors snatch up this bargain inventory now. With distressed inventory levels depleting, ‘normal’ sellers will once again get back in to the competition & finally be able to sell their home after a hard couple of years of being unable to compete with bargain-priced distressed sales.
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