• Sales Prices increased 9.5% over 2011

• Inventory declined 1/3

• Sales Remain steady

• Inventory of homes down to 5.2 months

FAQs

Q: Are home prices still dropping? Are they moving up yet?

A: After holding at the bottom for almost a year, prices have started moving up. The median sale price in August 2011 was up 15% from one year earlier. But it is not so simple. There are short sales, bank owned, and regular/traditional ...

"If there is a dominant theme this year,
it's that there's more excellent golf than ever." 

                                                                                                                        -Conde Nast Traveler, April 2011
 

Central Florida scored big in the 2011 Conde Nast Traveler's Top 20 Florida Golf Resorts with 9 resorts making the prestigious list. The elite resorts were rated based on evaluations by readers.

Walt Disney World Resorts dominated the competition, capturing 5 spots. True to character, Disney demonstrated expertise ...

Central Florida is becoming a haven for green living. The latest addition to our cache of green homes is “KB Home Green House: an Idea Home Created with Martha Stewart” at Lake Burden in Windermere, Florida. Unveiled in January 2011, this dream home is stylish, affordable, and livable. It brings the green revolution to the masses, with an interior size designed to fit the average homebuyer at 2,667 square feet. I can actually imagine myself living in this house. Previous green homes have been large, luxurious and expensive, and… out of reach for most homebuyers.
...

    You are not alone. Beginning in December, when the weather gets cold in most of the northern Hemisphere, many people turn to Florida with longing in their hearts. They call me. I consult with them, determinining their needs, and help them buy their dream winter home in Central Florida.

Why Central Florida?

    OK. Why do you want to spend the winter in Florida? To ...

Are you wondering how home sales are going in Keenes Pointe, Windermere, Florida?
The high security makes it challenging for those who are not currently living in the neighborhood, yet are interested in buying a home there.They can not drive by to see if they like the exterior and setting. If you are a neighbor and have seen the “for sale” signs, when a sign disappears you may wonder what has happened. Did it sell or did they give up trying?

Home Sales Strong: Summer Frenzy becoming a Fall Harvest

To date this year home sales are up 31% over 2009! June 2010 saw a large spike in sales, prior to school starting. (The line graph below shows number of sales for the past year.) During the past year prices hovered with minimal fluctuation at some of the most affordable prices in 12 years. (See bars on graph below for prices).These low prices combine with low interest rates to make it a buyer’s market. The ...

Thinking of remodeling your home? 
Are you wondering how to avoid overspending or doing the wrong home improvement projects? 

As a local real estate agent in Central Florida, I keep an eye out for tips and trends in the market, including renovation projects. So I want to share with you the results of a recent report by MSN real estate identifying 8 overrated projects, why they are overrated, what people really want, along with my comments.

Whirlpool bath 
    Why? People don’t really use them. They take too much water, are noisy and hard to keep hot. 
    What they really want? Walk in shower. 
    I see that walk-in showers are very popular. It seems like most people just don't  soak in a tub these days.

New Family Room Addition  
    Why? Not cost effective, recoups only 65% of value.
    What they really want? A Change of usage in existing space, like converting dining room to an office.
    Square footage of homes had been increasing up until the plunge in home prices around 2007. So most newer homes 
    have a large footprint. These homeowners can reallocate space wisely, to do more with what they already have.

Upscale Kitchens
    Why? Is a kitchen upgrade really worth $150,000 to you? Even if it only recoups 63% of the cost when you sell?
    What they really want? European kitchens are becoming more modern, streamlined, not so ornate. 
    OK we are not Europe, we have a lot more space in this country and enjoy it. But I think that everyone
    is much more aware of the cost vs benefit, so a bit more frugality still can yield a magnificent kitchen.

Marble and Porous Counters
    Why? Scratches, burns, and stains easily.
    What they really want? Granite and man-made quartz are less fussy.
    This is really about a counter that will have a long lifespan without being baby-ed.

Deck Outside Master Bedroom
    Why? No one uses it.
    What they really want? Maybe a coffee maker in the bedroom would entice people out on that deck in the morning.
    Common living areas are more practical and get the most usage.

Elaborate Home Theater
    Why? A single purpose room is underutilized space.
    What they really want? A large Flat screen TV and incredible sound system in the family room.
    For resale, a more flexible room is more marketable.

Hot Tub
    Why? Upkeep and energy usage make it less attractive.
    What they really want? In Florida the spa that is part of the pool system replaces the stand alone hot tub.
    We really did not have many hot tubs with Florida homes. Maybe an ice tub would be more appropriate for our climate? 
    I think the pool/spa takes the place of the whirlpool tub and the hot tub.

Overly Complicated Home Automation System    
    Why? It can become obsolete, needing expensive maintenance, and hard to learn.
    What they really want? A simple automation system.
    Will the new home buyers ever be able to figure out your system. If not, it does not add value to the home.

These are just some ideas about overrated remodeling projects. Certainly if you are able to get enough enjoyment out of your project to say that it is worthwhile, than you have justified your expense. But when it comes to reselling your home, remember that no projects will recoup their full cost. So if you plan to sell your home in a few years, it is best to consider the resale value before proceeding.

If you have any questions for your Central Florida Realtor, send them to me.

Lorraine Burch, Lakefront Homes Consultant
Avalar Real Estate Services
www.HomesCentralFL.com
www.LakefrontHomes-CentralFL.com

Strong Homebuyer Demand in Central Florida

The news is out:
It is a great time to buy a home in Central Florida!

Homebuyers have jumped in to the real estate market.

• Number of sales (Jan - June, 2010) up 38% over same time period last year.
• Over past six months median home price rose each month (Jan 2010: median $102,000, June 2010: median $116,000)

Distressed sales, bank owned and short sales, are keeping prices low

• 2/3 of the sales were distressed sales
• current inventory of 5.75 months is below balanced market, moving towards sellers market

As long as the distressed sales dominate the market home prices will remain low. Regular sales do sell at a higher price point than distressed homes. In June 2010 the median prices were:

• $175,000 for a "normal" sale
• $115,526 for a short sale
• $77,500 for a bank owned

WINDERMERE, WINTER GARDEN, AND CLERMONT MARKET UPDATE
June 2010 market statistics

                                # Homes Sold        Median Square Footage            Median Sale Price                Median Sale Price/sf

Windermere                76                                        2,842                                    $286,480                                        113

Winter Garden            91                                        2,136                                    $170,000                                         75

Clermont                     84                                        2,070                                    $168,500                                         77


Brought to you by,
Lorraine Burch, Lakefront Homes Consultant
Avalar Real Estate Services
www.HomesCentralFL.com