If you are currently considering buying a home in or around Orlando, recent statistics and an article in today’s Orlando Sentinel reveal that the ‘Timing is looking Good’.

Auctions, short sales, foreclosures and just plain and simple ‘too good to miss bargains’ are attracting investors, hedgefunds and first time buyers from all areas of the globe. Lenders are being more responsive with their short sale process and some are even offering 100% financing if you buy their own bank owned properties.

Existing-home sales in the region have started rising again compared with a year ago. And half the deals involve bank-owned foreclosures or “short sales” — properties for which the bank has agreed to take less than the amount owed on the mortgage.

48 percent of sellers nationally are now getting multiple purchase offers for a single property, nearly double the 25 percent rate during the same period last year.

The Orlando Realtors’ foreclosure analysis, released Monday, showed for the first time the extent of distress sales in the local market. Of the 1,653 homes sold by the association’s member agents in the core Orlando market last month, 700 were bank-owned.

Read the full article here…

http://www.orlandosentinel.com/business/orl-bizdistress16041609apr16,0,4691113.story