Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale
 
For the last few months, much has been said about how we are in a strong seller’s market. The lack of inventory, multiple offers, and higher sale prices have been a clear indication.
If you’ve been looking to buy a home in this market, it can get discouraging. Today we want to discuss why it’s actually a great time to buy a home right now.
Zillow recently did a study that proved it is still cheaper to own a home than it is to rent in all major markets in the U.S. Interest rates continue to be historically low; they are around the 3.4% to 3.6% range here in Orlando.
“
It’s really a great time to buy.
”
Homes are much more affordable in Orlando than they are in a lot of other markets. In fact, it is 36% cheaper to own a home than to rent one. Interest rates would have to increase by 10.6% for it to make more sense to ...

Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale

 
The spring selling season is off to a busy start in Orlando, and I want to let you know what’s happening to help you capitalize on your next real estate transaction. We’re seeing a lot of people who are ready to buy homes, but simply cannot find good homes to purchase.
Inventory is dwindling, and this is putting pressure on buyers. This is causing the prices of homes to rise significantly. Just in March, we saw the home prices rise by 10% as home sales fell 4%.
Simply put, we do not have enough homes available for sale. We have roughly 3.5 months worth of inventory, which places us in a strong seller’s market. As a buyer, you will need a strong pre-approval and you have to act when you find a home you like.
You will also need a qualified real estate agent to handle your transaction if you want a good chance at winning your dream ! ...

Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale
 
Today, we answer the most commonly asked question in real estate: Is now a good time to buy or sell a home? In 2016, there is a perfect storm of conditions to buy or sell a home here in Central Florida.
For buyers, there are a number of things that make now an ideal time to make a move, starting with historically low interest rates. When the Fed met in December, they raised interest rates slightly and made it known that they will continue to do so. Now is a great time to lock in a low rate before they raise them yet again.
Another benefit of buying now is the affordability of homes in the Orlando area. It's currently 30% cheaper to buy a home than it is to rent one in our area, so now is the time to consider homeownership! Many buyers are coming off the sidelines now, and the longer you wait, the more likely it is that you'll be lost in the crowd.
Lastly, ! ...

 
Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale
 
2015 was great across the board for the Orlando housing market! Average home prices increased by 9% from 2014 to 2015. This is stellar! Additionally, overall sales increased by over 15%. Quite a few factors contribute to these changes. We experienced a successful springtime market that kept going until September. We also saw a steady decrease in inventory the last five months of 2015, which slightly increased competition.
Consumers were excited about real estate last year! They experienced historically low interest rates, whether they were an investor or first-time home buyer. There’s this renewed sense of security in real estate. Mortgages are becoming more accessible.
 As sales increase modestly this year, we do anticipate another hot year! We’re moving forward with low interest rates, rental rates increasing, and afford; ...

Want to sell your Orlando Home? Get a FREE home value report | Want to buy an Orlando Home? Search all homes for sale
 
The rise in interest rates can affect your ability to buy a home in the Orlando area. Although interest rates are historically low around 4% now, the Fed will meet in mid-December. Their most important topic? Interest rates! Across the board, industry professionals agree the Fed will most likely increase interest rates at this meeting. No one knows by how much exactly.
However, even slight increases can drastically affect purchasing power. Let’s say there’s a one-percent increase hypothetically. Although it doesn’t seem like much on the surface, a 1% increase from 4% to 5% translates to a 25% interest rate increase. A 1% increase in interest rates will decrease purchasing power by 11%. For example, if you could previously purchase a $200,00 home, now you only qualify for a $178,000 with a rate hike. It takes yo! ...