Home Prices up 37 Percent since Jan 2012 Home prices in the Orlando, Florida area have risen 37% since the beginning of the year. A number of factors have contributed to the increase in home prices, and the trend is unlikely to stop any time soon. This is good news for sellers who may have been waiting for the market to recover before placing their property up for sale. Homes in Orlando Florida are a part of one of the strongest housing markets in the nation at the present time. Fewer Foreclosures In the past few months, fewer of the homes in Orlando Florida being placed on the open market consist of foreclosures according to the Orlando Sentinel. This publication reports that at the end of 2010, 44% of all homes on the market consisted of foreclosures, but this number decreased nearly in half by the end of 2011. This number has continued to decrease since the beginning of 2012. A large number of foreclosures on the open market tend to decrease prices, as banks are often willing to sell these homes at a loss in order to unload them. As a result of fewer foreclosures for sale, other home prices in the area tend to increase as a result of this. Low Inventories One of the reasons why homes in Orlando Florida have risen so sharply is because there is a relatively low inventory of homes on the market, which means the price of homes naturally increases to meet the demand. The fact that there are few homes in Orlando Florida for sale is good news on its own. The fact that there are few homes for sale means that foreclosures are down and fewer people are selling their homes due to economic hardships. People who choose to purchase homes in Orlando can be comforted by the fact that the housing market there shows strong signs of recovery. Investments Just a few short months ago, investors were buying up homes in Orlando Florida because the value of these homes was extremely low. The recent housing market crash had caused home prices to drop drastically, thereby making them attractive to investors. Several international investors along with groups from New York began buying billions of dollarsâ€™ worth of real property in the Orlando, Florida area. Their goal was to rent these homes out and sell them in about five years. The fact that these investors bought so many homes in the Orlando area has led to a low inventory of homes on the market, and this in turn has resulted in an upswing in housing prices. Relocation Central Florida is still one of the more popular areas for people to relocate to. This is especially true of retirees, who are drawn to the Orlando area of because of the moderate temperatures year round. The people who relocate here need to have a place to call home, which means there will always be a need to sell homes in Orlando Florida. This is also good news for the housing market, because people who are thinking of putting their home up for sale can do so with confidence knowing there is likely to be a large pool of buyers to choose from. This is good news for buyers as well, because they can be sure they will be able to get top dollar for their property whenever the time comes for them to sell. Leads the Nation According to Clear Capital, a California research firm, Orlando is expected to lead the nation in housing market gains in 2012. Some of the criteria used to assess housing markets in metropolitan areas throughout the country include the local unemployment rate, the number of foreclosures offered for sale, and whether some properties have been sold multiple times. Since Orlando has been recognized as being a leader in housing market recovery, this makes homes in Orlando Florida an excellent choice for anyone who is considering buying real estate.
Benefits Living in Orlando has a host of benefits. Residents here will find the city has lots of things to see and do aside from its major tourist attractions. Several family-friendly parks are located throughout Orlando, making it easy to enjoy outdoor recreation. Orlando also has plenty of cultural events and activities that take place here on a regular basis. It is easy to get around Orlando, as it has well-maintained roadways and an expansive city bus line. These things make looking at homes in Orlando Florida a good idea for people from nearly any walk of life. Local Economy While most people think of Orlando as having a strong tourism base for employment, there are also plenty of opportunities for people to find jobs in technology. The Department of Defense has a major training and research facility here that employs over 8,500 people. There are also a number of companies that offer technology in aviation and software among other things. The fact that Orlando has a strong economy means that homes in Orlando Florida are likely to increase in value as more and more people choose to relocate here in order to find gainful employment in one of these industries. Nearby Attractions Residents of Orlando can take advantage of the fact that they are located within an hourâ€™s drive of several Florida attractions including the Kennedy Space Center and the Atlantic Ocean. There are also quite a few citrus groves located in close proximity to Orlando, and these orchards allow visitors to pick their own fruit. A working cattle ranch, nature preserves, and zip lines are all located within an hourâ€™s drive of Orlando, so people who purchase homes in Orlando Florida can be sure they will have plenty of fun activities to enjoy with their family. Many people dream of living in central Florida, and right now is a perfect time for them to make that dream a reality. With a strong housing market, vibrant local economy, and beautiful weather and attractions, Orlando can be an exciting place to call home.