They often say that after the slump, comes the great times. This is applicable as well to the real estate market. With so many foreclosures that have happened for the past few years, the market right now is awash with low home-resale prices. Some of the players in the market say that the lenders are now aggressively unloading the foreclosed properties. These are known as the ‘real estate owned’ or the REOs. These properties are priced low and these are expected to be sold within the 90 day span. And the way home and commercial real estate prices in Central Florida is falling, the average wage earner can now afford his own average home.
The situation right now is favorable in a sense that real estate properties in the market are now priced reasonably and these are marketed using lousy selling conditions. This then opens a great opportunity for those who have the financial muscle to own a home or the dream Central Florida Commercial Real Estate. In fact it’s beginning to pick up. Records and available data suggest that the Central Florida market featured a 12 percent increase in home sales for the month of July if compared to the figures exactly a year ago. It isn’t just the sales for the month of July as pending sale contracts for the rest of the year are up as well. One of the main reasons why the figures are resilient can be a function of the location as well. It has been said that the established neighborhoods with good schools and also in the urban core are known to be as solid choice. And the new developments at the outskirts of the city may be shaky. The key in getting a commercial real estate is to look and shop around. There will always be something better out there, like in the greater Central Florida area.
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The source of the listing data is as follows:
My Florida Regional MLS (updated 6/28/17)
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