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Hurricane Sandy’s immediate impact on real estate in the hardest hit Northeastern neighborhoods has become painfully evident, from New Jersey shore houses completely swept away by the sea to entire neighborhoods like Queens’ Breezy Point tragically leveled to the ground. But this latest natural disaster won’t just affect certain ZIP codes, it will weigh on America’s housing market as a whole, according to Forbes.com.

In many parts of the country a housing recover has begun. Nationally, home sales have been notably higher this year as compared to last. In September, existing home sales were up 11% year-over-year and pending sales up 14.5%, according to the National Association of Realtors. Prices have risen too, with the national median sales price $183,900, or about 11% higher than September of 2011.  Inventory has fallen drastically in many parts of the country, fueling the uptick in prices. The rising numbers have helped housing become a bright spot in recent economic reports, with analysts projecting that residential investment will positively contribute to gross domestic product this year for the first time since 2005.

Now, that rosy recovery is sure to dampen. “This will certainly create a negative in the short term,” says Lawrence Yun, chief economist of the National Association of Realtors. “The bottom line is we clearly anticipate a slowdown, but it will be temporary.”

Take a look at sales figures in our local real estate market for October.

Orange County Real Estate Sales Statistics – October 2012  

Orange County saw 191 more homes sold in October 2012 than 2011, a 12 percent increase. The average sales price increased by 6 percent and the median sales price increased by 2% from October 2011.  Market times decreased by 25 days or 15 percent.  

Osceola County Real Estate Sales Statistics – October 2012

Osceola County homes saw home sales decreased by 1 homes, a 0.2 percent decrease. Prices increased with the average sales price up 0.5 percent and the median price increased by 7 percent.  Market Times decreased by 31 days compared to October 2011.

Seminole County Real Estate Sales Statistics – October 2012

Seminole County residential sales increased by 19 percent with 115 more homes sold in October 2012. The averages sales price increased by 6 percent, and the median sales price increased by 14 percent compared to October 2011 levels. Market times decreased by 30 days or 18 percent.

Lake County Real Estate Sales Statistics – October 2012  

Residential sales in Lake County increased with 89 more home sold a 21 percent increase. The average sales price increased by 7 percent, while the median sales price increased by 9 percent during the same time period.  Market times decreased by 24 days.

Polk County Real Estate Sales Statistics – October 2012

Polk County saw 186 more home sold in October 2012 compared to 2011.  The average sales price increased by 0.3 percent, while the median sales price increased by 7 percent.  Market times decreased by 3 day compared to October 2011.

Now is the time to get your best price on an Orlando home, before the prices move upward. 

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Good news!  The recent results of a large-scale survey strongly indicates that consumer optimism and the desire to own real estate continue to rise.

Additionally, Fannie Mae’s National Housing Survey polls 1,001 Americans each month to assess their attitudes toward homeownership, renting, mortgage rates, foreclosures, the economy, household finances, and overall consumer confidence. The results of June’s survey show Americans are increasingly optimistic about the housing market despite concerns about the broader economy and their personal finances.

• According to the survey, Americans expect home prices to increase 2.0 percent over the next year.
• Among participants, 35 percent said prices would rise over the next 12 months, which is the largest percentage in the survey’s two-year history.
• Also, the number of respondents who said they would buy their next home if they were going to move rose 6.0 percent to 69 percent, which is the highest level ever recorded.
• The number of Americans who said it was a good time to buy a home increased to 73 percent.

Lets take a look at July sales figures in our local markets.

Orange County Real Estate Sales Statistics – July 2012  

Orange County saw 68 more homes sold in July 2012 than 2011, a 4 percent increase. The average sales price increased by 6 percent and the median sales price increased by 8% from July 2011.  Market times decreased by 19 days or 20 percent.  

 Osceola County Real Estate Sales Statistics – July 2012

Osceola County homes saw home sales decreased by 27 homes, a 5 percent decrease. Prices increased with the average sales price up 11 percent and the median price increased by 15 percent.  Market Times decreased by 31 days compared to July 2011.

 Seminole County Real Estate Sales Statistics – July 2012

Seminole County residential sales increased by 2 percent with 9 more homes sold in July 2012. The averages sales price increased by 4 percent, and the median sales price increased by 6 percent compared to July 2011 levels. Market times decreased by 27 days or 25 percent.

Lake County Real Estate Sales Statistics – July 2012  

Residential sales in Lake County increased with 48 more home sold a 12 percent increase. The average sales price decreased by 4 percent, while the median sales price increased by 1 percent during the same time period.  Market times increased by 29 days.

 Polk County Real Estate Sales Statistics – July 2012

Polk County saw 111 more home sold in July 2012 compared to 2011.  The average sales price increased by 9 percent,and the median sales price increased by 8 percent.  Market times decreased by 14 days the same as July 2011.

Now is the time to get your best price on an Orlando home, before the prices move upward. 

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

There were 12,128 Orlando FL foreclosure homes in March 2012, according to RealtyTrac.com.  The average sales price of an Orlando home was $126,288 and the average sales price of a foreclosure home was $104,270, a $22,018 savings.

Orlando FL Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.95% in March and there were 986 new foreclosures compared to 1,171 new foreclosures in February.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Orlando FL Foreclosure Geographical Comparison

Orlando FL foreclosures were 0.11% above national statistics, 0.04% below Florida figures and 0.01% below Orange County numbers in March.

Orlando FL Foreclosure Activity by Month

Read the rest of this entry »

The California real estate research firm, Clear Capital, issued a report predicting that Orlando FL real estate will have the largest increase in prices for 2012 with an 11.7% gain in values. According to the report, 2012 is expected to play out much like the last half of 2011, with a very subtle price change. A minimal decline in the beginning of the year is expected to turn into a gain by year’s end.

If you are thinking of buying Orlando FL real estate, NOW is the time to buy while prices are still low. Although the
increase is only projected to be at 11.7% that is still $11,700 on a $100,000 home. Who wouldn’t want to save $11,700?

Contact me today to save $11,700! 

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Monday Morning Quarterback Report gives you a snapshot of the previous week’s Orlando FL real estate market activity, including sales, prices, days on market, and much, much more.

Week of December 5, 2011

Single-family existing homes

• Sales of single-family homes increased to 404 during the week of Nov 27, from 168 the week prior
• The median price of single family homes increased to $138,000, a change of 4.0%
• The number of single-family home foreclosure transactions increased to 74 last week, from 24 the week of Nov 20
• The number of single-family home short-sale transactions increased to 141 from 67 the week prior
• Single-family inventory decreased by 59, and now sits at 10,618

Condos, townhomes, and villas
Read the rest of this entry »

There were 10,317 Orlando FL foreclosure homes in October, 2011, according to RealtyTrac.com. 1 in every 1,961 housing units received a foreclosure filing. The average sales price of an Orlando home was $121,127 and the average sales price of a foreclosure home was $102,742, a $96,284 savings.

Orlando FL Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 4.07% in October and there were 1,961 new foreclosures.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Orlando FL Foreclosure Geographical Comparison

Orlando FL foreclosures were 0.37% above national statistics, 0.18% above Florida figures and 0.03% above Orange County numbers in October.

Orlando FL Foreclosure Activity by Month

Read the rest of this entry »

FEMA wants everyone to know about the upcoming Emergency Alert System (EAS) test and how it may impact them.

The first nationwide test of the Emergency Alert System (EAS) will take place at 2:00 PM (Eastern Standard Time) on November 9, 2011. The purpose of the test is to assess the reliability and effectiveness of the EAS as a public alert mechanism. EAS Participants currently participate in state-level monthly tests and local-level weekly tests, but no top-down review of the entire system has ever been undertaken. The Commission, along with the Federal Emergency Management Agency, will use the results of this nationwide test to assess the reliability and effectiveness of the EAS as a public alert mechanism, and will work together with EAS stakeholders to make improvements to the system as appropriate.   

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Aside from fires, gas leaks, and spills, a lot of us are unaware of the other potential dangers in our homes. Either that or we have forgotten about the other possibilities because they tend to be rather small. And by small, it does not mean that the consequences can’t be detrimental, it means that the incident just may not be as obvious or immediate as a fire or spill. It is true that virtually everything in a home can be seen as dangerous in one way or another, but there are definitely certain things that you should be careful of. To do so does not involve much effort, simply just some awareness and memory. So to jog your memory, here are some common potentially dangerous things to beware of in your Orlando FL home. This information can be especially useful if children are running around the abode.

• TALL & HEAVY FURNITURE. This is mainly for children, but for adults too – dressers, bookshelves and the like are privy to crushing people when being climbed on or knocked over. A quick fix would be to attach furniture to the wall.
• CORDS. Not only are cords dangerous due to their electrical components, but if placed inappropriately can act as an object to trip over. Make sure your cords are organized and out of the way.
• BATHTUBS. Like cords, bathtubs are dangerous in more than one way. People are very prone to slipping in tubs, so be sure to place a good mat in your tub. Secondly, if you have young children, watch them at all times while bathing to avoid drowning. This also goes for when preparing a bath for yourself – don’t leave a full bathtub unattended.
• MEDICINES & CLEANING PRODUCTS. The same rule is applied to both medicines and cleaning products – do not leave them in reach of children and pets. They can be very toxic, harmful and even deadly. It is likely we have all been taught this rule, but it can be easy to forget when rushing around the house.
• EXERCISE EQUIPMENT. Similar to the last tip, make sure exercise equipment is out of children’s reach. Heavy, mobile objects like weights can be tripped over or can be dangerous if a child decides to make them their new play toy. Also remember to clean your equipment after use because they can harbor sickness-inducing germs.
• PESTICIDES & MOTHBALLS. While both can be very useful in removing unwanted pests, the chemicals in each can be very harmful in the long run. You may choose to limit use to when very necessary, find a safe alternate solution, or opt for not using them at all. It may be a small sacrifice to make in order to ensure good health.

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue top Team handles the details and follow-up that are important to the success of your transaction.

A number of research studies have shown that home ownership provides social and societal benefits. Not only is home ownership one of the best ways to build long-term wealth, providing resources for a more comfortable retirement, but it also fosters an immeasurable sense of community and stability vital to growing families. NAR’s “Social Benefits of Homeownership and Stable Housing” report reveals that home owners are happier and healthier. They tend to vote more, volunteer more and contribute more to their neighborhoods. Home owners do not move as frequently as renters, which encourages more neighborhood stability, and children of home owners are more likely to participate in organized activities and spend less time in front of the television.

Now take a look at how the Orlando market performed in August.  

Orange County Real Estate Sales Statistics - August 2011  

Orange County saw 173 fewer homes sold in August 2011 than August 2010. A 10 percent decrease. The average sales price increased by 9 percent and the median sales price increased by 19% from August 2010.  Market times increased by 20 days or 20 percent.  

Osceola County Real Estate Sales Statistics - August 2011

Osceola County homes saw home sales decrease by 173 homes, a 27 percent drop. Prices decreased with the average sales price down 12 percent. The median price decreased 2 percent.  Market Times increased by 24 days or 24 percent. 

Seminole County Real Estate Sales Statistics - August 2011

Seminole County residential sales increased by 7 percent with 39 more homes sold in August 2011. The averages sales increased 11 percent and the median sales price increased by 18 percent from August 2010 levels. Market times increased by 16 days or 16 percent. 

Lake County Real Estate Sales Statistics - August 2011  

Residential sales in Lake County increased with 67 additional homes sold for a 17 percent increase. The average sales price increased by 20 percent, and the median sales price decreased by 14 percent during the same time period.  Market times increased by 20 days or 14 percent.  

Polk County Real Estate Sales Statistics - August 2011  

Polk County saw 22 fewer homes sold, a 3 percent decrease.  The average sales price increased by 1 percent, while the median sales price decreased by 7 percent. Market times increased by 25 days or 21 percent. 

Now is the time to get your best price on an Orlando home, before the prices move upward.  

Access Teri’s one-stop Orlando FL home shopping website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 17 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue top Team handles the details and follow-up that are important to the success of your transaction.