New Contracts are strong while prices remain weak

(June 10, 2009 – Orlando, FL) Members of the Orlando Regional REALTOR® Association in May sold nearly 38 percent more homes than in May of last year, contributing to the area’s year-to-date sales increase of 44 percent.

There were 1,854 closings in May, which brings the year’s total to 7,834; a total of 5,462 homes had changed hands by this time last year. Of those May sales, 50.97 percent of the homes were either bank-owned (795) or distressed (150). The remaining (909) “normal” sales made up 49.03 percent.

Bank-owned and distressed home sales have an influence on Orlando’s reported median price. The median price of all Orlando homes sold in May is $130,000 (a 38.51 percent decrease compared to May 2008), but the median price for “normal” sales is $165,000. The median price for bank-owned sales is $82,000 and the median price for distressed sales is $140,000. Read on: http://www.orlrealtor.com/Main/Main.asp?CategoryID=3&

FHA brings some relief for some condos

The resort-style pool, spa and health club along with luxurious 10-foot floor-to-ceiling windows are no longer the key selling points for 101 Eola in Thornton Park. Today the best thing going for the 146-unit condominium tower is that it's the only newly constructed building in downtown Orlando that is FHA approved, a special government sanction that allows buyers to put as little as 3.5 percent down.
Read more at http://www.orlandosentinel.com/business/orl-bizorl-beth-kassab-condo-061909061909jun19,0,7031870.column

Florida Home sales rise

Florida home, condo sales rise in JanuaryFlorida’s existing home sales rose in January, making it the fifth month in a row that sales activity showed increases in the year-to-year comparison, according to the latest housing data released by the Florida Association of REALTORS®. REad the whole article at http://www.orlrealtor.com/Main/Main.asp?CategoryID=3&SubCategoryID=909&

Here are the complete Statistics for the Metro Orlando area and the month of January 2009. http://www.orlrealtor.com/Pages/marketpulse/MarketPulse209.pdf

Class shows homeowners wiggle room in hard times

ORLANDO, Fla. – April 7, 2008 – Vince Gabrielly bought his Orlando home two years ago. But with less income from his two businesses, he said, the monthly mortgage payment is a heavier burden now.“I’m not behind on my payments or anything,” Gabrielly said. “But I think information is important to have. You just don’t know what’s going to happen down the line.”Gabrielly was one of a handful of people at the Beardall Senior Center on Saturday to attend the first of six foreclosure workshops during the next two months. Organized by the city of Orlando, the workshops are meant to help homeowners avoid foreclosure, prevent scams and get guidance if they do decide to relinquish their homes.“People are afraid,” said Cora Fulmore, president of the Mortgage & Credit Center, LLC, in Winter Garden. “They think if they call the lender, that’ll speed up the foreclosure process. That’s not true. They need to communicate with the lender and they should fully share their financial situation.”Leila Allen, director of Orlando’s Housing and Community Development Department, said about 70 foreclosure notices go out to homeowners in Orange County each day. The crisis is such that lenders and government organizations, such as her agency, have become involved to help salvage the industry.

Read on for the whole article: http://www.floridarealtors.org/NewsAndEvents/n1-040708.cfm

Tax-break deadline for new Florida homeowners

The new property tax portability deadline ends Friday the 29 th. If you have moved in 2007 you should read this if you have not filed for homestead exemptions. There are a few hours remaining on the deadline. Since there is still some confusion about the portability package the Orange county property appraiser plans to give homeowners a bit more time. However it is not clear how much time this will be.

Read on for the details
http://www.orlandosentinel.com/services/newspaper/printedition/wednesday/localandstate/orl-taxbreak2708feb27,0,4175540.story