In January, the Orlando housing market experienced increases in both median price and sales, while the pool of homes available for purchase shrank by 21 percent compared to January of last year.
Comment by Damon Duvall WLP-There are two possible causes for the lower inventory. A mixture of the two is the true reason. Some people are still owe more than they can sell for and Buyers are not willing to pay enough to get them to sell. I see this in neighborhoods I visit all of the time.
Millions of Americans will consider buying a home next year. The number of sales of existing homes this year is expected to reach nearly 5.5 million -the highest since 2006 - but inventory is down. CBS News business analyst Jill Schlesinger joins "CBS This Morning" to explain what that means for buyers.
Comment by Damon Duvall WLP.-As you can see the same is reflected across the nation. If you are looking to buy a home it is a great Idea if you are a smart consumer. The same as stocks everything has risks especially to those who do not buy smart. Here are some examples.
Things to consider when buying in an older neighborhood. What is the overall physical condition of the neighborhood? How many homes are for rent in the neighborhood? What do you expect the neighborhood to look like in 10 years? How close is comparable new construction? Is there a strong HOA? And finally, price.
When buying new construction. Are you planning on staying in the home long enough for the home to appreciate? How long might that take? Is the area the home is located in moving forward? Or is it in an older area that is not modernizing? What is the direction for the community over the next 10 years or so?
Of course all of those questions have to be balanced with your location needs. However although a Realtor with local knowledge available can assist you in the buying process is you choose the right one. One that does not push you to buy but rather listens to your needs and provides possible solutions. If that is of interest to you CONTACT US today and let's have a free consultation.
Homes in Windermere Between $400,000 and $700,000