Renters vs. Owners: The Central Florida Tax Equation Shifts

Today on page one of the Orlando Sentinel: 

http://eeditionmobile.orlandosentinel.com/Olive/Tablet/OrlandoSentinel/SharedArticle.aspx?href=OSN%2F2015%2F11%2F12&id=Ar00106

Rollins College Set to Re-Open Campus Pub

For someone visiting the Winter Park area, this rebirth of the Rollins College Campus Pub will be a fantastic little spot for students, faculty and the public who know about it (- ? - I am awaiting confirmation on that point) - 

Here is the article link posted in Rollins 360:

http://360.rollins.edu/arts-and-culture/coming-this-fall-daves-boathouse?utm_source=Rollins+College+360+Fall+2015&utm_campaign=e28d21bf2c-Rollins360_11_6_1511_5_2015&utm_medium=email&utm_term=0_b8b73f1042-e28d21bf2c-203851621&ct=t(Rollins360_11_6_1511_5_2015)&mc_cid=e28d21bf2c&mc_eid=32aef757da

Large Tract of Property Changing Hands near I-Drive:

Here's a link to an Orlando Sentinel article published October 7th that charts ownership changes for large tracts of property near I-Drive, the Convention Center, and Universal Studios: 

http://www.orlandosentinel.com/business/brinkmann-on-business/os-universal-property-colony-20151007-story.html

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. 

VERY long- term growth: Deseret Ranch in Osceola County

Deseret Ranch is in the process of creating a vast, long term plan for growth in Osceola County.  Learn more about the location that will be a major player in Central Florida growth:

http://www.wmfe.org/ranch-aims-to-head-off-runaway-central-florida-growth-with-massive-development-plan/52681

Lake Eola Development Proposal Launches Debate

Downtown Orlando has enjoyed a rebirth and continued momentum with its growth and future plans, but concerns about a proposed high - rise have spurred local debate. 

Here is the community site created to inform locals about the proposed construction by a Chicago developer in the Lake Eola area:

http://savelakeeolapark.com . 

Dr Phillips v College Park: A comparison of different, but very successful Orlando locations

I enjoy showing newcomers all the choices they have in the Central Florida area, and I appreciate the opportunity to educate locals, here for many years, concerning the current trends that affect the value of their homes. 

Case in Point: 
Dr. Phillips: An area known for its consistent developments. Close to "The Parks" (Disney, Universal, Sea World, etc.) as well as Lockheed Martin, it is a terrific location for people that work in these locales.

College Park: Central to Downtown Orlando, College Park has been enjoying strong interest in recent years. The continued expansion of the hospital systems in the Downtown Area, proximity to major highways, and the new SunRail commuter rails are only a few of the attributes that this "Small Town, Down Town" section of the city now possesses.

Here is one way these two areas compare: 

This is a report compiled by Trendgraphix which illustrates the Average Days on Market vs. the Sales Price/Listing Price Ratio (in other words, how close were the sellers to getting the sale price they listed.)

Dr. Phillips: 32836 Zip Code

It's a pretty steady market in the DP area: The sold prices increased, but the Days on Market increased even more. Bottom line: be ready to wait longer than your neighbor did when she sold, last year.  Buyers have choices, but the value is there for Dr. Phillips homeowners.

College Park: 32804 Zip Code

College Park is experiencing longer Days on Market numbers as well, but not as long, on average as DP. Price per square foot is lower in College Park (than the Dr. Phillips area), but it is a Seller's Market, as inventory is very low. 

Two distinctly different areas of Orlando with strong markets. 

When you dig into the numbers, you see the strengths and weaknesses of locations, and can strategize to meet your personal property goals. 

Contact me today for the latest factors affecting the value of your home -