ORLANDO, Florida. – Aug. 25, 2008 – Single-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida’s housing sector, according to the latest housing statistics released by the Florida Association of Realtors® (FAR).

11,498 existing homes sold statewide last month

11,492 homes sold in July 2007

The last time statewide sales of existing homes outpaced the previous year’s sales figure was in the year-end 2005 report, according to FAR records, when sales were up 2 percent over year-end 2004.

Florida’s median sales price for existing homes last month was $193,600; a year ago, it was $238,900 for a 19 percent decrease.

But, looking back to July 2003, the statewide median sales price for single-family homes has increased 18 percent over the five-year-period, according to FAR records – at that time, the statewide existing-home median price was $164,000.

In a year-to-year comparison for condos, 3,375 units sold statewide compared to 3,641 in July 2007 for a 7 percent decline. The statewide existing-condo median sales price last month was $168,500; in July 2007 it was $194,100 for a 13 percent decrease.

More than half of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in July; seven MSAs also showed gains in condo sales. Realtors around the state reported increased business activity, including more telephone calls, more home showings and a rise in pending sales.

Read the full FAR article

Call British Homes Group Today for help with purchasing or financing your Orlando area dream home!

Orlando Area MLS Search  

The Convention has its own PDF where there are many activities going on, including a panel discussion with a representative from Google and the C.O.O. Kristen Veraldi of Real Estate Blogsites (of www.realestateblogsites.com) who will discuss the latest Real Estate Technologies as well as how technology such as Real Estate Blogging can help your business.

The convention runs from August 22-26th and the Trade Show is on the 23rds and 24th. The Blogging Panel discussion is on the 23rd in the afternoon.

See the FAR website for more details. Keep checking in for more information!

According to the Florida Association of Realtors the scaremonger reports of a burst bubble are not the case. Nationwide it appears that the slump is over and we are prepared for asteady expansion. Negative reports of a crash are no longer true as only 25% of markets nationwide are reporting negative growth wheras 75% of markets are gaining ground.

Florida is a low tax state however when the property tax bill arrives many property owners don’t think so. However in terms of other states who are the top 5?

Here is how they rank with property tax as a percentage of income

1. New Jersey – 6.75% 2. New Hampshire – 5.86% 3. Vermont – 5.07% 4. Connecticut – 5.00% 5. Wisconsin – 4.79% … 19. FLORIDA – 2.95%

As reported by the Florida Association of Realtors this week.

However despite there being a record number of homes for sale in the area and the average time taking for each to sell being 90 days. There is good news: Unlike south Florida the prices in the Orlando area aren’t too far out from reality. Interest Rates should stay low and we are 60 miles from a hurricane storm surge.

When you find a great property in a great neighbourhood for a great price now is the time to buy! 

Said Mike Thomas of the Orlando Sentinel,

Read the full article