According to a recent article in the Orlando Sentinel…Orlando Home Prices have reached a 3-Year High!
The median price for existing home sales in the core Orlando market during November was $129,000 – a 5 percent increase from the month before and 12 percent increase from a year earlier.The midpoint price was at its highest level in three years.
Members of the Orlando Regional Realtor Association sold 2,430 houses during November, which was down 6 percent from a month earlier and up about 20 percent from November 2011.
Homes of all types spent an average of 83 days on the market before coming under contract in November 2012, and the average home sold for 96.27 percent of its listing price. In November 2011 those numbers were 99 days and 95.19 percent, respectively.
The average interest rate paid by Orlando homebuyers in November, 3.47 percent, set yet another record as lowest average interest rate since ORRA began tracking the statistic in 1989. A year ago, homebuyers paid an average interest rate of 4.10 percent.
Short sales, which take much longer to process from contract to close, made up 67.37 percent of pending sales in November 2012. Normal properties accounted for 21.04 percent of pendings, while bank-owned properties accounted for 11.60 percent.
The number of existing homes available for purchase in Orlando was 7,847, down from a peak of 26,330 in October 2007. The inventory of single-family homes is down by 26 percent from November 2011; condo inventory has decreased by 3.71 percent during that time.
The month-of-supply increased a bit in November when compared to last month. The market had enough home listed for sale to last 3.2 months, up from 3.1 in October but down from 5 months a year earlier.
Is this the end of the Florida property recession – at last?
If so, what a nice Christmas present!
A continued Orlando property market rebound, of course, will help make 2013 an even more profitable New Year for residential investors here in the Sunshine State!
To help make it so ……………
Why Choose The British Homes Group?
20 Years Experience in the Disney-Area of Central Florida
Many of you may recall that The British Homes Group was the first to bring UK mortgage financing to Florida with First National Bank and Abbey National. We were also the first to arrange Sterling financing for new UK members at The Disney Vacation Club.
Over the past 20 years The British Homes Group has helped hundreds and hundreds of UK families find and finance their dream holiday home and property investment here in “The Sunshine State” of Florida.
Over 20,000 Residential Properties to Choose From
As members of the Florida Multiple Listing Service (“MLS”) The British Homes Group has access to information on just about every villa and residential property currently for sale throughout Florida.
In Florida, unlike in the UK, therefore, it is not necessary to deal with a number of different Estate Agent (some of which you like, some, maybe, you don’t) to find your ideal holiday home close to Disney.
We hope, therefore that your choose The British Homes Group as your one and only Estate Agent in Florida!
A Name You Can TRUST!
Besides our hundreds and hundreds of UK customers over the past 20 years many leading property and finance companies around the World have also found that they too can trust The British Homes Group.
These companies include The Disney Vacation Club, Abbey National, Hilton Hotels, Lloyds TSB International, Sheraton Hotels, The Rank Organization, Marriott Hotels as well as the US Government’s Resolution Trust.
Exciting Referral “Pressies”!
From time to time we are able to offer valuable incentive awards to BOTH our existing villa owners and their friends when, depending on the holiday home or development community, they refer new purchasers to The British Homes Group.
In the past year, for example, our Owner Referral Programme has offered:
* Free Airfares
* Free Villa Management
* Free Car Rentals
* Free Wire Transfer Fees (for international money exchanges).
Needless to say, conditions apply.
We will be offering, however, even more valuable Referral Programme incentives to both our existing clients and their friends, relatives and business associates in 2013!
In the coming year, therefore, The British Homes Group looks forward to re-earning its reputation as ……
“The UK’s Favourite One Stop Shop For Florida Villa Owners”
It’s not often you get the opportunity to “Buy Low and Sell High” – especially with holiday homes and property investment.
This market rebound could be one of these rare opportunities – before the Florida property market returns to a “10-Year High” once again!
We hope that we can help you take advantage of this unusual opportunity in 2013!
The BRITISH HOMES GROUP Florida
2960 Vineland Road | Info@britishhomesgroup.com or (+1) 407 396 9914