Central Florida & metro Orlando real estate services

If you think your local city and county governments and school boards had it tough last year, just wait until 2009.  According to a story in yesterday's Orlando Sentinel, tax values in Orange County, Florida are down 10.5% since last year with some segments down significantly more - homesteads 26%, condos 33%, and condo conversions 60%. 

I am actually surprised that the total average is only 10.5% in a year.  You almost have to wonder where they got that number from because everything I am seeing is down 20-25% unless it is in the mid to high-end established neighborhoods like College Park, Winter Park, Windermere, or Doctor Phillips.  In fact I cannot recall seeing any property of the 200+ properties we sold in the last year that sold for over assessed value.  All of them went down.

Matthew Falconer of the Orange County Taxpayer Budget Review Board has gone so far as to say that the City of Orlando and Orange County are both on the verge of bankruptcy because of the massive tax drops and the run-a-way spending.  I know both the city and county are doing what they can to raise millage rates and fees while at the same time cutting back everywhere they can.  Hopefully they will do enough to fend off any sort of insolvency, but who knows for sure.  They are only now starting to understand that the spending they were able to get away with back in 2004-2006 was just a temporary fluke and that those days of wild spending were unsustainable and will probably never come back (at least anytime in the next decade or 2).  I am very curious to see their budget numbers for this year since the City of Orlando raised their expenses by $100 million last year - will they try that baloney again for 2009-10? 

One thing also is that more and more people continue to protest their high tax assessed values.  The Orange County property appraiser's office last year had a record turnout for people challenging their value.  And in 2009 it will be even more.  The property appraiser simply does not want to buy into the fact that the foreclosures are ALL THAT IS SELLING RIGHT NOW, so that is the current value.  No reasonable person would pay any higher.

It is quite an interesting turn of events to say the least.

GO MAGIC !!!

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

This is great news for the 50,000+ property owners located in this 3 county area as well as all septic tank owners throughout the State of Florida.  The State had originally proposed that all septic systems located in this area be upgraded to the new $15,000+ systems at the time of replacement, home remodeling, or within 18 months of a sale. Additional proposals would take the program statewide. 

The Florida Department of Health was planning on implementing this program as soon as August 2009 even though the legislature had got the process rolling for further scientific studies on the issue. 

The whole issue surrounds high nitrogen levels in the Wekiva River which flows out of the Northwest Orange County area.  High nitrogen levels are causing plants and wildlife to struggle.  However there is a big controversy on whether it is truly septic systems causing the problem or whether it is fertilizer being used on lawns and farms in the area.  The Realtor associations, investor associations, many homeowner's associations, and all 3 county commissions of Orange, Seminole, and Lake County have made big objections to implementing this rule without doing the studies first.  After all why make people spending an extra $15,000+ for a new system when the studies are incomplete and possibly just plain wrong.

Fortunately, the governor signed the new state budget into law yesterday and part of the budget will require that Department of Health to back off until these studies are completed - probably next year sometime.  Here is one take that the Orlando Sentinel had on the issue last week.

Fantastic news for everyone that owns a home in the area.  Now flush away!

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

Parts 1 and 2 of this series discussed how banks handle properties up until the foreclosure is completed. Part 3 of this series began the discussion on how banks determine values when pricing their properties and what to look for in finding great deals.

A key thing to look for with REO properties are the ones that cannot obtain normal FHA or conventional financing because of issues with their location or condition. If a borrower cannot obtain these types of financing, then the only way to sell the property is to offer seller financing or find a cash buyer. If the bank is offering seller financing then great for them, however most banks are not offering it – they just want the property off their books. On all cash deals, the price is going to be much lower than what a regular financed buyer would pay.

By location issues I am typically talking condominiums. Many condo complexes that were built after the year 2000 are not FHA-approved simply because very few buyers were using this type of financing at the time the development was being sold off, so the developer did not take the extra steps necessary to get it approved. Conventional financing is another hurdle. Fannie Mae and Freddie Mac have tightened up their guidelines on condos tremendously over the last year. In addition to condo complexes needing at least 50%+ owner occupants, Fannie/Freddie are requiring that no more than 15% of the units be delinquent on their monthly dues. So in other words, many if not most condo complexes in Florida cannot obtain even conventional financing. Think about that. It might just be time to consider that vacation condo at the beach or the mountains. Banks are literally giving these condos away for pennies on the dollar compared to what they were selling for at the peak of the market. In March I sold a very nice 2 bed/2 bath condo that sold for $219,000 at the market peak for a mere $34,900 to a cash buyer.

Regarding property condition issues, we are talking junkers. There are rehab loans like FHA 203(k) and such, but many loan officers are unfamiliar with them and most buyers do not want to mess with them. That leaves the cash paying investors. Things that disqualify the condition of the property for financing are a leaky roof, broken windows, plumbing leaks, missing mechanical items (water heater, air-conditioner, electric panels), missing flooring (no carpet, bare plywood floors), mold, large sections of peeling paint, rotten wood or termite damage, etc. Cosmetic items like torn screens, missing kitchen appliances, minor holes in the wall, outdated kitchens and bathrooms, etc. typically will pass for FHA and conventional loans.

In Parts 5 and 6 of this series, I will discuss negotiation strategies for getting your offers accepted on bank owned REO properties. Until next time ...

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

The DeSoto County Association of Realtors recently merged their MLS in with the Mid Florida Regional MLS.  This is great news for people located in these 2 heartland counties in southwest Florida.  It makes it just that much easier for your property to be seen by the 30,000+ Realtors that have access to Florida's largest MLS database.

If you have property in De Soto County or Hardee County, Florida that you want to sell or rent our firm is the premier firm in the area to get your property listed for all the Realtors to see as well as advertise on Realtor.com and MyFloridaHomesMLS.com where millions of potential buyers visit every month.

Regardless of where your property is located in these counties including Arcadia, Lake Suzy, Fort Ogden, Brownville, Bowling Green, Wauchula, Zolfo Springs, Crewsville, Ona, or Fort Green, we can get your property listed via our for sale by owner / flat fee MLS listing service.  Now servicing 29 counties in Florida.

For answers to Frequently Asked Questions simply head on over to our website and let's get started with your listing today.

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

For the last 7 or 8 years, FHA mortgage loans became a rare breed.  Many Realtors and mortgage brokers didn't even know how to handle them.  My how times have changed.

As a result of this shortage of FHA loans, very few HUD-owned homes showed up on the for sale list.  HUD homes are the result of an FHA mortgage that gets foreclosed.  Now-a-days pretty much every starter home sale involves an FHA mortgage, and I have noticed over the last year or so that the inventory of HUD homes on their foreclosure list has continued to increase.

The great thing is that because of the shortage of HUD homes over the last few years, many buyers for HUD homes have disappeared.  This has left a big void and thus a big opportunity to pick up some fabulous deals on HUD owned homes. Our brokerage has been selling HUD homes since we opened for business over 12 years ago.  Not all brokers are registered with HUD, so not all of them can sell these homes.  The paperwork for the bid process is a little tricky, so many brokers do not want to fool with HUD houses. I am an expert on their paperwork and can help you bid on any HUD home in the State of Florida.

There are some fantastic hud house deals out there.  In fact in the last year, our firm has sold at least a dozen HUD homes priced under $100,000 and several have sold in the $25,000 range. And these aren't just junky mobile homes in the middle of nowhere.  Often these are in established neighborhoods and in fairly decent condition.

HUD gives you 45 days to close on their properties.  They also provide a detailed inspection on their website for you to review prior to bidding.  Some HUD homes can even be bought by owner occupants for as little as $100 down. 

Brokers bid for buyers in a sealed bid auction on HUD's website. Highest bidder wins.  HUD has a minimum bid percentage that they don't make public, and I know how to calculate that number for any property you want to bid on. That is why it is best to deal with a seasoned veteran when it comes to HUD and other investment properties.

You can see a list and detailed report of Florida HUD homes at their website.  If you want to place a bid, please contact me.  I can get you the deal you are looking for, and believe me the deals are EVERYWHERE right now.  

Attention other Realtors(R).  If you are not registered or don't know how to do HUD deals, I will place your HUD bid for you for the small sum of just $500 per deal.  I know the tricks on how to get the bids accepted.  Just give me a call and let's make a deal happen.

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

In Parts 1 and 2 of this series, I discussed how banks handle the initial part of the foreclosure process up to the point that the foreclosure is concluded and the property is secured.  You can read more on those articles here:

The Tricks and Traps of Buying bank owned REO properties - Part 1 

The Tricks and Traps of Buying bank owned REO properties - Part 2 

In Parts 3 and 4, I plan on discussing how banks determine value when pricing REO properties, the common time frames affecting these listings, and financing issues in selling them.  For definitions of R.E.O, B.P.O., and other commonly used terms please refer to Part 1 of this series.

I want to first put to rest once and for all a myth regarding the pricing of R.E.O. properties.  People commonly ask me "Do you know how much was owed on the mortgage balance when the bank foreclosed?" Or "How much was the final judgment amount at the foreclosure sale?"  These questions are asked on the assumption that the bank will only consider offers equal to or a certain percentage less than the original mortgage amount.  Nothing could be further from the truth, especially with today's declining market prices.  In order to determine what a property is worth, banks rely heavily on both Realtors ® and appraisers for determining the value.  For instance, I listed and sold a home recently where the principal balance on the original loan was roughly $150,000.  This REO home was originally listed for $89,900 by our firm and it sold in April 2009 for $68,000. 

When a property is originally listed for sale the listing Realtor ® performs a BPO typically using 3 comparable sales and 3 comparable active listings.  The selling bank will also hire a second Realtor ® (or even an appraiser on higher priced or special-type properties), to provide a second opinion of value.  In a declining market like we are currently dealing with in Central Florida, the active listings especially if they are "sale pending" will provide a more accurate determination of value than will the comparable solds.  I would go so far as to say that presently any comparable solds older than 90 days are for the most part irrelevant to what the value is today.  Additionally the listing Realtor ® will provide anywhere from 15 to 50 photographs of the property depending on the size and the condition. Photos are taken of the exterior, all rooms of the interior, and any damages. 

Typically every 30 days the selling bank will require a monthly report with an update of market conditions, new listings, new solds, number of showings, and other relevant information affecting the property.  This allows the bank to make intelligent decisions (at least half-way intelligent) on price, terms, sales bonuses, and other concessions to help sell the property faster.  While seller financing is rare it does happen on occasion. The borrower will have to go through normal credit and financial underwriting, but the bank often offers more favorable terms like a lower interest rate, lower closing costs, quicker approval time, and a streamlined evaluation of the borrower.

During the first month that a property is listed, you can normally forget about submitting "lowball" offers.  The bank will not come off of their asking price by more than 5-10%.  The key time points to consider submitting lowball offers are at 90, 120, and 180 days on the market.  These time points are when the bank starts requesting a new BPO from the listing Realtor ®.  Time frames of 90, 120, and 180 days are considered normal marketing periods necessary to sell a property especially in a slow or declining market.  Once a listing gets past those time points, the seller will often get more motivated and may even slash the price in order to unload it. 

Additionally once a property passes those 90, 120, and 180-day time points, the seller will often re-evaluate the performance of the listing Realtor ® as well.  If no offers have come in, the bank may cancel the listing and re-list it with a new Realtor ®.  So often listing Realtors ® are motivated to get offers submitted on old stale REO listings. This is the case even if they are lowball offers just to show the selling bank that the agent is able to get someone interested in the property.  Stay tuned for Part 4 ...

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

The Orlando Regional Realtor Association (r) released their April 2009 real estate market statistics for the metro Orlando area covering Orange County and Seminole County, Florida.  The positive trend continues.  Just look at those wonderful numbers.  Inventory continues to shrink down from month over month - in fact it has decreased by just over 20% since April 2008. 

At the same time home sales continue to increase each and every month.  Part of this is due to the Spring selling season, as well as low interest rates, and the $8000 first time buyer tax credit. However this is the most home sales the Orlando area has seen since May 2007 when we had 1745 sales.  That's great news.  I've told a few people that 2009 feels a lot like 2006, sales are slower but they are happening frequently. 

Also look at the new listings vs. the new contracts (pendings).  They are almost equal.  Another great sign. 

Now granted, the average and the median sales prices are both way down compared to 2 years ago but I think we all realize that those prices were unsustainable and unaffordable to most buyers.  Presently the average price is $162,400 and the median price is $132,900.   There are also a ton of foreclosures currently on the market and still more on the way and this will continue to have big effects on the marketplace for at least another 1-2 years. 

For more details on these market statistics, please check out the Realtor association website.  

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

It's official the 2009 Florida legislative session ended last week.  Quite a few issues were considered, and in the end Florida real estate practitioners and investors faired reasonably well.  So here is a rundown of what laws passed and what laws didn't. 

The following laws were passed and are headed to the governor's desk for a signature or veto:

Property tax amendment for the 2010 ballot.  SJR 532 will do several things if the people vote on it.  First it will limit the increase of assessed value for non-homestead properties to 5% per year.  Amendment 1 which passed last year capped the increase at 10% and this new amendment changes it to 5%.  Secondly this amendment will provide a new homestead exemption for homesteading buyers who have not owned a property in Florida for the previous 8 years.  This new exemption would be for 25% of the assessed value but no greater than $100,000.  It would phase out over a 5 year period.

HB 521 would reduce the burden of proof for the homeowner when challenging an assessed value.  Currently the property appraiser's value is assumed to be correct.  This law would turn the tables and only require a preponderance of the evidence provided by the homeowner when challenging an assessment.  The appraiser would be the one required to prove that their value is the correct one.

The cost of filing an eviction in county court will be reduced from the current $265 to $180.  I've looked repeatedly for the bill reference on this, but so far I haven't found it.  2 reliable sources have told me this is the case though.  Any relief is good.

Homeowner's insurance law changes in HB 1495. A bunch of changes occurred including an annual cap on the increase of premiums for Citizens (that state's insurer of last resort) of 10% per year.  There are also some changes to the windstorm coverage for Citizens as well. 

What didn't pass: 

Sunrail, the 60+ mile commuter rail train that would have connected Central Florida from north to south.  I do believe this would have been a good thing for alleviating traffic from I-4, however I seriously doubt this would have ever paid for itself.  Tri-Rail in South Florida is a dismal failure even after 20 years of business.  Nobody rides it and I-95 and the Florida Turnpike are packed full of cars.  I'm sure the same thing would have happened on Sunrail, but we will never know.

A whole bunch of proposals to address the landlord/tenant law in a foreclosure situation. I've seen first-hand how landlords have scammed tenants out of rent and deposit only to have the tenant thrown out on the street with little to no notice.  There were about 6 different bills on the table, but surprisingly none of them passed. 

A proposal for the State of Florida to have a vacant property foreclosure registry.  This would have required lenders to register their vacant properties with the State and then maintain them from the filing of lis pendens until re-sale.  Didn't happen. This bill also died.

A proposal to amend the Foreclosure Rescue law that passed in 2008.  Attorneys and title companies were hoping to get exempted which in my opinion they should be.  This bill died in committee.

Wekiva basin septic issue.  Senator Lee Constantine tried very hard to get this expanded into a larger springshed bill, but could not. Shame on him - thank goodness for term limits.  But the bad news is that instead we are right back where we were in February.  The Florida Department of Health is still in charge and will probably implement this law in the next few months, thus requiring everyone in this huge area of 55,000+ homes to pay for new septic tanks at the time of sale or remodeling.

It was a pretty dull and uneventful session for the mostpart. So I guess that is a good thing.  

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

Hopefully to lift your day a little, I just wanted to post some positive news about the housing market both nationally and locally in Central Florida.  This isn't to say that the overall economy is not tough out there.  There are still plenty of foreclosures coming down the pipeline and probably a bunch of inflation on the horizon.  However it is good to hear some hopeful stories in the media.

Enjoy the reading.  It is a great time to be alive in America.

From Fed Chairman Bernake:  A Promising Sign 

From USA Today:  More homes get multiple offers; downturn may be nearing end

From Orlando Sentinel:  Housing downturn may be easing

From Channel 9 News WFTV:  Housing Market Looking Up

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.

Another great month is completed.  April 2009 was another busy one with 27 closed deals.  Homes are selling in Central Florida so don't miss out on yours.  First time home buyers can get an $8000 tax credit if you buy between now and December 1, so don't wait.

   14549 Tabago Bay Drive                     5445 Regal Oak Circle

   112 Camphor Tree Lane                    2709 Haulover Blvd

1. 14549 Tabago Bay Drive, Winter Garden, FL 34787. Beautiful 4 bed/4 bath and nearly 4000 square feet.  This was a fabulous home in the Bay Isle gated community.  This short sale sold for just $299,975. That's just $78 per square feet for this huge home.

2. 5445 Regal Oak Circle, Orlando, FL 32810.  This was a 4/2 bank owned fixer upper.  It sold at auction.  The bank had a reserve of $115,000, but through some hard negotiating on the part of our firm, we were able to get auction sale price approved at just $63,000.  Remember to take one of our Realtors with you the next time you buy at an auction.

3. 112 Camphor Tree Lane, Altamonte Springs, FL 32714. 5 beds /3.5 bath pool home with lake frontage on Spring Lake.  This home was listed using our flat fee MLS listing service and the owner saved a fortune on commissions.  Multiply the sales price of $875,000 * 3% to figure out the savings for yourself. 

4. 2709 Haulover Blvd., Deltona, FL 32738. 3/2/2 bank owned home in the back side of Deltona. It sold to an FHA buyer with a nice credit for their closing costs and just $114,500.

5. 1450 Julio Lane, Orlando, FL 32807. 3 bed/2 bath block home, bank owned, older home.  Our investor buyer paid cash and got a fantastic deal for only $60,000.  You know this property will bring a positive cash flow.

Metro Orlando homes are selling when they are priced to sell. Whether you're a seller looking to get your home sold or a buyer looking to find a great property deal, put one of our agents' expertise to work for you.  Our office is selling homes every single month. Please give myself or my lead Realtor ® Sylvia Carraway (407-462-3067) a call, so we help you with your real estate needs. And let's have another great month in Central Florida.

---------------------------------------------------------------------------------------------------------------------

(Copyright © 2009. Sand Dollar Realty Group, Inc. All rights reserved.)   Subscribe to my blog via RSS feed.

Rob Arnold - Your full service and investor friendly Realtor ® in Orlando and Central Florida.

ABR, CPL, CRB, CSP, GRI, Managing real estate broker, Notary Public

407-389-7318 / 1-877-389-7318 www.SDRhouses.com   We Buy Houses Florida

We sell foreclosures, short sales, and bank owned REO properties throughout Central Florida. We sell and list Central Florida real estate and Orlando real estate. Free list of foreclosure and short sale houses available.

I also provide flat fee MLS listings, For Sale By Owner, and menu-based services in most parts of Central & South Florida, the Space Coast, and the Treasure Coast including Orlando, Winter Park, Maitland, Ocoee, Winter Garden, Apopka, Altamonte Springs, Casselberry, Longwood, Winter Springs, Oviedo, Lake Mary, Sanford, Deltona, Debary, Deland, Mount Dora, Eustis, Clermont, Kissimmee, Winter Haven, Lakeland, Tampa, Sarasota, Bradenton, Miami-Dade, Fort Lauderdale, West Palm Beach, Port Saint Lucie, Melbourne, Daytona Beach, Ocala, Gainesville, Palatka, Jacksonville, Volusia, Brevard, and more.