Real Estate Update Feb 2016

It is pretty incredible to see all the changes Orlando, FL has been going through since the previous Real Estate market downturn.   Several communities who were swamped with foreclosures have been completely cleaned up.  Foreclosure homes have been remodeled, sold or rented out.    The number of foreclosures is very low.   Builders are offering beautiful homes with quality upgrades located in nice communities packed with amenities.    The city is going through major changes with beautiful master plan communities.    The United States Tennis Association is building in Orlando the largest tennis facility in the US with over 100 tennis courts which will be the main ground for building tennis future stars.

The largest US builders are actively purchasing land and building new homes to meet the demand of home Buyers relocating to Orlando, Florida.    Mortgage rates are very attractive which are still at an all time low.

2016 is going to be an interesting year as inventory decline will probably continue to drive the median price up.   The median price went up by 14% in January.

Mortgage rates

Below you will find the most recent data for Real Estate in Orlando

Screen Shot 2016-02-21 at 9.46.09 AM

Real Estate Tip:

Please note it is always important to conduct a home inspection done by a licensed inspector prior to finalizing the deal.   A licensed inspector is trained to look for hidden defects not visible to a home Buyer.   No matter how nice the home looks,  it is always important to do a home inspection.   You can also bring a licensed contractor to further investigate the home and provide a quote for possible repairs.