State of the Market

• The median home price for June was recorded at $385,000, up from $378,000 in May. Median home prices have increased every month this year.
• Median home price in June 2023 was close to June 2022, when it was recorded at $387,000.
• New listings rose 7.1% from May to June, with 3,703 new homes on the market in June, compared to 3,459 in May.
• Homes spent an average of 41 days on the market (DOM) in June, down from 45 days in May. This is 105.0% higher than June 2022 when homes spent an average of 20 days on the market.
• Overall sales fell 0.8% from May to June. There were 3,124 sales in June, down from 3,150 sales in May.
• June’s interest rate was recorded at 6.7%, up slightly from 6.6% in May.
• Inventory for June was recorded at 5,450, up 5.8% from May when inventory was recorded at 5,149.
• Inventory in June 2023 (5,450) was 0.2% higher compared to June 2022, when it was recorded at 5,437 homes.
• “Now that we’re officially halfway through the year, Orlando’s housing market remains strong,” said Lisa Hill, Orlando Regional REALTOR® Association President. “June’s housing data is a strong indication of what the rest of the year will look like – we can expect to continue to see more inventory and great prices for homes, which is good news for buyers and sellers.”

Market Snapshot

• Interest rates increased from 6.6% in May to 6.7% in June. This is 20.6% higher than June 2022 when interest rates were 5.5%.
• Pending sales fell, with 4,304 in May and 3,964 in June.
• 28 distressed homes (bank-owned properties and short sales) accounted for 0.9% of all home sales in June. That represents a 33.3% increase from May, when 21 distressed homes sold.

Inventory

• Orlando area inventory increased 5.8% from May to June. Inventory in May 2023 was 5,149 and inventory in June was 5,450.
• The supply of homes increased to 1.74 months in June, up 6.7% from 1.63 months in May. A balanced market is six months of supply.

• The number of new listings increased from May to June by 7.1% – from 3,459 homes to 3,703 homes.

ORRA’s full State of the Market Report for June can be found here.

Access Teri’s one-stop Orlando FL home search website.Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

By: www.orlandorealtors.org

Tiny Houses are really super cute and a lot less expensive than traditional size homes but there are a few things you might want to take into consideration before you decide to purchase a tiny house.  There are pros and cons to owing a tiny house and those are listed for you below for your review.

1. Tiny houses  are typically no more than 100 to 500 square feet.  This may work perfect for you and your family if your family is rather small.  If however you have a large family a tiny house may not be the way to go.
2. You can have a tiny house built for $15,000 however if you want that tiny house to have all the bells and whistles you may end up spending in excess of $80 to $100,000. Basically it will be up to you if you want to purchase a tiny house and “bling it out” so to speak or if you would rather take your money and purchase a large home that already has everything you desire.
3. You may need to check with the zoning board in your area to see if a tiny house is allowed before you make a decision. If so, why not give a tiny house a go…if not, you can always put the tiny house on wheels and travel from state to state.
4. If personal space is important to you then you may not want to even consider purchasing a tiny house. If you do decide to purchase a tiny house your lifestyle will change for sure.  If you don’t mind being in close proximity to your family then a tiny house may be just the ticket!
5. A pro to living in a tiny home is that you won’t have very much space to clean.   If you don’t like spending a ton of time cleaning your house, a tiny home may be the place of your dreams!

These are just a few of the pros and cons associated with tiny house living.  In the end, it is your decision whether or not you want to purchase a tiny house and join the many others you have already done so.

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

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

If you currently have your house on the market, you may want to look over a few of the curb appeal mistakes that you might possibly be making listed below.   You may or may not have issues with any of the mistakes that are listed but if you do, we will tell you how to fix them so that you will be more likely to get folks interested in looking at your house.   Curb appeal can many times be the number one reason why a person decides to look at your house in the first place.  Be sure to do your part to make your home’s curb appeal work for you and you might find that you have an offer quicker than you were planning on.

1. If your home is totally gorgeous inside but lacks curb appeal outside, no one may ever know just how beautiful your home actually is because they simply won’t want to come inside.  You need to make sure that the outside of your home matches the quality of the inside.  If your home looks fresh and new inside, make sure that you have fresh paint and landscaping outside.
2. Even though you may have a trash pick-up service, many times when days get busy the trash may be overflowing. Do your best to keep your trash cans out of sight from those who may come to tour your home and also keep them empty if at all possible or at the least not overflowing with garbage.
3. If you have recently starting doing a bit of renovations to the outside of your house, be sure to get those finished before you put your home on the market. You need to think about prospective buyers that may be driving by your house to get a glimpse of what it looks like and realize that no one wants to see a house renovation half completed.
4. If you have a big sense of style that can sometimes get a bit crazy, now is the time to neutral that down a bit. If your front door is painted bright pink for example, you may want to cover it with some white or beige or even black paint before you put it on the market.  Just because you love hot pink doesn’t mean everyone does!
5. If you don’t have a green thumb and therefore you haven’t done any landscaping to the outside of your home, it is time to at least plant a few bushes. Homes with no landscaping tend to be looked over when up against homes with a bit of landscaping.

These are just a few ideas to get you thinking of perhaps some curb appeal mistakes you may have currently at your home and how to correct the issues to help snag a sale.

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

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

State of the Market

– “As we approach midway through the year, prices continue to rise and homes spend fewer days on the market,” said Lisa Hill,
Orlando Regional REALTOR® Association President. “The market cooled near the end of last year, but we have been on an upward
trajectory ever since. Many families prefer to save their moves for summer when the kids are out of school, so we will likely be in
for a busy selling season these next few months.”

– The median home price for May was recorded at $378,000, up from $370,000 in April. This is a $28,000 increase since January.
Median home prices have increased every month this year. Median home price in May 2023 was roughly the same as May 2022,
when it was recorded at $379,950.

– Overall sales rose 13.9% from April to May. There were 3,150 sales in May, up from 2,766 sales in April. Overall sales in May 2023
were 20.2% lower than May 2022 when there were 3,946 sales.

– Inventory stayed level – there were 5,148 homes in April and 5,149 homes in May. Inventory in May 2023 was 33.7% higher
compared to May 2022, when it was recorded at only 3,851 homes.

– Interest rates increased from 6.4% in April to 6.6% in May. This is 25.4% higher than May 2022 when interest rates were 5.3%.
21 distressed homes (bank-owned properties and short sales) accounted for 0.7% of all home sales in May. That represents a 16.7%
increase from April, when 18 distressed homes sold.

– New listings rose 7.4% from April to May, with 3,459 new homes on the market in May, compared to 3,220 in April.

ORRA’s full State of the Market Report for March can be found here.

Access Teri’s one-stop Orlando FL home search website.Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

By: www.orlandorealtors.org

Between rising rent costs and the desire to have a place you can call your own, one might believe that purchasing a home is a far-off dream. Think again! There is much to consider, from finances to logistics to paint colors, many factors of homeownership are different than when you are a tenant in someone else’s home, so you need to prepare now for a new home later. 

• Start budgeting now if you do not already. There are more expenses involved with homeownership than there are as a tenant, and you need to be able to manage your money properly.
   
• Check your credit score and correct any mistakes, if any, and do what is necessary to improve the numbers if your score is not going to be attractive to lenders.
   
• You may think that you cannot qualify for a loan, but there are different types of loans available. Check your state for low-income down payment assistance programs, and ask if your financial institution offers a first-time-buyer program.
   

• Do you love your rental? If so, talk with your landlord about purchasing the property! Once they become aware that you are interested and possibly moving, the thought of preparing and looking for a new tenant may encourage them to agree to a sale. All you can do is ask!
   
• Consider purchasing a townhouse or condominium when searching for properties. Many are affordable and convenient and would make the perfect first home.
   
• Think about your community options–where you live can affect how much you pay in fees, property taxes, or maintenance costs.
   
• If you have renters’ insurance–and you should–take note that a homeowner’s policy costs more, because it covers much more than just your belongings. Most mortgages will include homeowners’ insurance in the monthly payment. If your current agent can find a cheaper rate, go for it! 

Do you want the freedom to paint your living room bright green? Are you tired of having to keep your growing family quiet so as not to disturb the neighbor’s downstairs? If so, it may be time to think about buying a house. Connect with a Realtor® to guide you through the entire home-buying process.  

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

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

Photo credits: www.hf-corp.com

Below is a list of a few rainy day things you can do inside your home so that you and your family don’t get bored being stuck inside.  If you have small children you know all too well how easily they can get bored when they are stuck inside due to bad weather.  Get them and read this list together to get started on some fun!

1. One fun indoor activity you can do with your small children is to have an indoor scavenger hunt. Write down some clues to where you have hidden items in your house and set your children out on an indoor hunt to find them!  This can be fun for you as well as you watch your kids trying their best to find what you have hidden.
2. Another fun rainy day thing to-do inside your home with your family is to go camping inside!  Get your tent out and set it up right in the middle of your family room.  You and your family can sleep in the tent together all night long!  If everyone doesn’t fit you can use sleeping bags to make it a full fledge family event.  A super fun way to make your indoor camping event even more real is to make smores in the microwave!
3. Yet another fun rainy day thing to do inside is to gather all of your board games and get the entire family involved in playing them together! If you don’t have any board games you can likely find some type of game for all to play online.
4. If you don’t want to have to create something fun to do with your family, why not bake some cookies together! It is always fun to get your little ones together in the kitchen to bake.  Have each child create their own cookie with the ingredients you have available, then let the rest of the family be judges to give the best cookie award!

These are a few fun rainy day things you can do inside your home that is sure to make everyone have an enjoyable time even if they can’t go outside!

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

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

Just because your home doesn’t have any major issues such as a leaky basement or a floor that is about to cave in doesn’t mean you don’t have a lot of little ways you are losing cash each month.  Below are a few small tips to help you save money at home that may eventually add up big.

1.  If you have yet to change your lights over to energy efficient ones you should do that right away.   This is an easy way to save a little bit each month that doesn’t take long at all to accomplish.  LED lights are going to cost you a bit more than regular light bulbs but in the long run they will be a big help to your budget.
2. Big ticket items such as air conditioning systems can cost you and your family a lot each year if you don’t do your part to make sure they work to the best of their ability.  Make sure to change your air filters on a regular basis and clean all the vents as well.  This type of maintenance should be done before the heat of the summer begins so that all will work correctly when it is needed most.
3. Another small way to save money at home  is to make sure you eat what you put in your refrigerator.  Wasting food is a big money pit that affects many Americans today.   If you buy a lot of produce and other perishables you need to be sure to put them at eye level so that they don’t get lost in your fridge only to have to be thrown out later.  If you have a small family you might want to purchase smaller amounts of foods that don’t have a long shelf live to avoid wasting each week.
4. If you haven’t already done so, get rid of your landline phone.  Most everyone these days has a cell phone and the need for a landline phone has almost become obsolete.  Save that $40 per month and put it towards something of better use.  You may be surprised at just how quickly $40 each month can add up.
5. Before you decide to bring a furry family member into your home, realize that they are quite expensive.   If you are trying your best to save money perhaps buying a pet might need to go on the back burner for a while.

These are just a few ways in which your pocketbook can get a bit of rest  on a regular basis.  Use the ideas you like and see what a difference they can make.

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

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

State of the Market

• Overall sales fell 5.8% from March to April. There were 2,766 sales in April, down from 2,936 sales in March.
• Overall sales in April 2023 were 27.2% lower than April 2022 when there were 3,800 sales.
• Inventory rose 1.9% – from 5,052 homes in March to 5,148 homes in April.
• Inventory in April 2023 (5,148) was 92.8% higher compared to April 2022, when it was recorded at only 2,670 homes.
• The median home price for April was recorded at $370,000, up from $365,000 in March. Median home prices have increased every month this year.
• Median home price in April 2023 was the same as recorded in April 2022 at $370,000.
• April’s interest rate was recorded at 6.4%, down from 6.7% in March. This comes after three straight months with rising rates.
• New listings fell 6.4% from March to April, with 3,220 new homes on the market in April, compared to 3,442 in March.
• Homes spent an average of 52 days on the market (DOM) in April, down from 57 days in March. This is 116.7% higher than April 2022 when homes spent an average of 24 days on the market.
• “April data showed a slight uptick in Orlando inventory as home sales slowed, indicating the spring selling season may be starting to balance out,” said Lisa Hill, Orlando Regional REALTOR® Association President. “Orlando’s median home prices are still climbing as sellers continue to get competitive offers. The good news for buyers is that interest rates in Orlando dropped slightly, giving them extra buying power.”

Market Snapshot

• Interest rates decreased from 6.7% in March to 6.4% in April. This is 29.7% higher than April 2022 when interest rates were 4.9%.
• Pending sales rose, with 4,220 in March and 4,485 in April.
• 18 distressed homes (bank-owned properties and short sales) accounted for 0.7% of all home sales in April. That represents a 35.7% decrease from March, when 28 distressed homes sold.

Inventory

• Orlando area inventory increased by 1.9% from March to April – from 5,052 homes to 5,148 homes. Inventory in April 2023 was 92.8% higher than in April 2022.
• The supply of homes increased to 1.86 months in April, up from 1.72 months in March. A balanced market is six months of supply.

• The number of new listings decreased from March to April by 6.4% – from 3,442 homes to 3,220 homes.

ORRA’s full State of the Market Report for March can be found here.

Access Teri’s one-stop Orlando FL home search website.Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 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.

By: www.orlandorealtors.org