Some Downtown Orlando Real Estate Information, Listing during the holidays COULD be worth it, Plus link to Important changes in RE Closings throughout the country - and that means Florida!

I cannot tell a lie: I am re-posting information I compiled for my downtown blog, "Thornton Park Update"

Something I shall add here that is NOT on that post is this:
If you are interested in smaller, more localized activities in the areas around Orlando's center, check out Bungalower.com.  If you are looking for a warm neighborhood info source that isn't just a list of events for it's readers, check out zip code 32804's local paper, the College Park Community Paper.   Anyone curious about Orlando, and "what else is there, besides the big vacation spots" will get something out of viewing of this website that gets into uncommon detail about its inhabitants-


Now for the latest:


Ahhh, October! For some of us, it's the month that marks the end of the hot, humid summers and the beginning of weather - and outdoor activity - that makes our home the envy of our Northern friends - 

I get many questions at this point on the calendar from people who ask whether they should list during the holidays.

Answer: YES

Reason: INTERNET

Behold this Trendgraphix® chart showing activity for the past couple years in 32801 and 32803, combined- Where do you see the largest upticks in the red line (contracts pending and preparing to close)?  February! 

All those holiday hours of  social togetherness creates time... for people to hide in their phones/on computers to surf the internet and look at homes! I've been preaching this theory for a while, but it does bear repeating -- 

---And when is the lowest inventory available (the least competition for you and your home)? December/January/February! Why list when everyone else is doing the same thing and increasing competition for offers?  It's a seller's market, but everyone wants a strategy. Holiday listing in Florida is a good option- 

With all the rumblings about interest rates increasing (I know it's discussed constantly, but the Federal Reserve is getting pretty firm on the idea-) and the possible end-of-year upticks as people try to hurry transactions before the end of 2015, Fall may be your prime time to benefit from listing and/or purchasing. 

For the latest Freddie Mac interest rates click HERE. As I write this blog, today, rates are holding at 3.85% on average, with .6 in points.

Here is just the past 30 days worth of activity for residential properties on the MLS  - Not condominium activity, but all other residential homes:

Average price for Sold listings in Thornton Park, and spots surrounding for Sold Listings was $241,800.00 for a 3BR/1.4 (not even '.5' ) for Baths.  Continuous Days on Market (CDOM) are very low, at 34.2 days, on average.

Active listings are getting pricier, and while they are still selling, the average current price of Actives is much higher than the sold inventory ($459,200.00+).... as is the count for bedrooms/bathrooms (3.5 bedrooms, on average and 2.6 baths). Average Square Footage is decidedly higher for Active listings as well (2029 sq ft), compared to Solds (a very lean 1200 sq ft).The CDOM for Active listings is at 92 days, give or take* which indicates a bit more lag time at the higher price points.

Critical to know: October 3rd, 2015: Changes in TILA-RESPA:

If you are planning to finance in order to purchase a home, but you are not yet under contract, my hope is that you know that big changes are underway that will affect closings and procedures you may have used in the past.  

Click HERE for the link to the "Know Before You Owe" section of the Consumer Finance Protection Bureau.

The goal is that better information shall be provided to buyers within a reasonable time for review, plus increased privacy of personal/financial information that will benefit both buyers and sellers.  However, the learning curve will be a long one, as every moving part in a real estate transaction will experience adjustments. 

If you have questions or comments about anything in today's entry, feel free to email me at Shelley@PositivelyRealEstate.com, or visit my website, www.positivelyrealestate.com.

Enjoy the month!

Click HERE for information on all Residential Real Estate Activity in the 32801, 32803 zip code areas (Translation: Downtown Orlando) 

*Please note that I pulled stats from The Brownstones development out of the chart because of home construction skewing the Days On Market. At 111 days on average (on the MLS) for three ACTive listings on this build, the DOM indicators for the total residential properties in the area would show as falsely longer on the market with this set of (very nice) listings included.