Orlando real estate, current updates as it is happening, sold properties, bank owned, short sales, new homes, town homes, condos and villas at great prices in Orange, Seminole, Volusia, Osceola and Lake County. Updated Thursday November 12th 2009.

Greater Orlando real estate has 35550 properties for sale, single family homes, town homes, condos and villas and manufactured homes. This is an increase of about 41 properties since November 8th. 4400 are bank owned properties and 14905 are short sales, so 54 % of the inventory is in some kind of financial distress, and this number is holding steady over the past few weeks. This is a huge amount of distressed inventory and a great opportunity for real estate investors. The real estate in Orlando is going to be a huge opportunity for buyers of all kinds and we have reached the right rental ratio for buyer to buy and invest into rental properties and cash flow…

11764 of the total inventory is in pending which is about 30% and continuing to increase.

Real estate in greater Orlando is being offered at some of the best values for many years and it provides great opportunities for first time home buyers, investors and luxury home buyers. We are updating this information almost daily and you can find great Orlando real estate deals right here by accessing the Orlando MLS right from here.

Orlando Real Estate Click here to search the Orlando MLS

One of the great things about central Florida, we have some of the best weather most of the time. Although toady we are experiencing some cooler temperatures for the next few days but the weekend is supposed to be great and back up into the mid 80th and lots of sun. Many of our tourists welcome these mild temperatures especially with the much cooler weather up North, where they are experiencing some snow, rain and cold temperatures. Again, here in Orlando a great day to go out to visit all the parks and attractions and look for some of the great Orlando real estate deals which are being offered here. The greater Orlando real estate market inventory of unsold homes has increased by about 300 properties over the past few days. As of the end of October and for the past 10 months, the greater Orlando real estate market has had the following results; 18204 properties have sold during the past 10 months which makes this 11.6 months of unsold inventory left for sale. Over the past 10 months ending October, Seminole County home values have been reduced by 31% over prior year and sales have increased by 12% and 50 % of the inventory is distressed, which was a slight increase of 3 percentage points. Osceola County values have been reduced by 39% and 63% of the homes are distressed however sales have increased by 100% over prior year. Lake County had a sensational year compared to 2008, sales are up by 242% while values have declined by 24%, only 33% of the homes are distressed which is the best showing of all the 4 counties I track. Since the Lake County area is more desirable place for retirement and rural it was less subject to speculations during 2004, 2005, 2006. Volusia County has 3758 properties for sales, 801 are in pending which makes this 21% and property values have declined over prior year by 32% but sales have increased by 33% and 42% of the inventory is distressed. Volusia County which includes the ocean front Daytona Beach condos and ocean front properties has still has ways to go, however there are great buys. Orange County overall the sales have increased by a 89% however all of these increases were mostly in lower priced homes. Home price priced $500,000 and up declined in sales by 34% over 2008 and values slipped by 6%. In the $300,000 price range to $499,000 sales dropped by 33% but values pretty much stayed the same from an average of $368,805 in 2008 to $367,501 in 2009. The biggest increase in sales was in the $1 to$299,000 price range where sales increased by 129% driven by low condo prices and lower priced single family homes. Overall there is still 12.2 months of unsold inventory which needs to be absorbed, but 39% of the inventory is in pending.

Hot areas and best real estate deals to buy in Greater Orlando:

The Lake Nona area – East Side of Orlando

Eagle Creek

East Park

North Shore at Lake Hart

Northlake Park at Lake Nona

Lake Nona

Westside of Orlando

Reunion

Condos:

Condos in Metro West:

Azure at Metro West

Bermuda Dunes

Central Park Condos

Fountains at Metro West

Hamptons at Metro West

Madison at Metro West

Palms Club

Orlando Real Estate Click here to search the Orlando MLS

A total of 220 new properties came on the market over the past few days and the average real estate value of the new properties coming on the market in greater Orlando was $193,709 which was a slight increase over the past report and was caused by a $1.6m property coming onto the market. 67 bank owned properties came on to the market, at the average price of $109,998 and the highest priced bank owned property was

601 SWEETWATER CLUB CIR, LONGWOOD, fl. 32779 located in the Sweetwater Club subdivision it is priced at $399,000 This property was built in 1979 has 3300 sqf. and is located a 1 acre lot in this prestigious man gated community. Because of the government requirements for banks to work with upside down or delinquent owners to do loan modification, the foreclosure process has come to a slow down as delinquencies pile up and the foreclosure process is slowing down. This process can only go on for so long as the government is trying to find other ways such as short sales or loan modifications as an alternative to foreclosure. 59 of the properties which came on the market in the past 5 days were short sales, 10 less properties as were bank owned at the average price of $142,574 , the highest priced short sale is 1359 CHAPMAN CIR, WINTER PARK, Fl. 32789 located in the Windsong subdivision, the asking price is $649,000. The total distressed properties inventory represent over 56% of what came on the market over the past few days. The highest priced non distressed property is a luxury home located at 1739 LAKE BERRY DR, WINTER PARK, Fl. 32789 located in the WATERBRIDGE subdivision. The property was built in 1993 and I located on the shores of Lake Berry and am offered at $1,695,000.

If you want to by any of the homes offered in the Orlando real estate market, a foreclosure, short sale and or a regular purchase or if you need to short sell your property, please contact us or send Gitta an e-mail at This e-mail address is being protected from spambots. You need JavaScript enabled to view it