Archive for March 2016

Townhouse sales going up in Orlando area, Realtors Association report notes

Terry Riffe | March 29, 2016

ORLANDO – Townhouse sales are going up. Throughout the Orlando area, home prices are rising, while buyers are finding fewer homes available to pick from, according to Orlando Real Estatea new report by the Orlando Regional Realtors Association.
As the association noted in its report on the housing market for the month of February, “buyer demand for homes outstrips inventory in February.”
In fact, the inventory of homes available in the region took “a tumble” last month, the association noted, leading in some areas to a double digit increase in the median price, which last month was $185,000. That’s a 12 percent rise compared to February 2015, when the median price was $164,900.
Last month’s median price is also up 2.78 percent compared to January 2016, when it was $180,000.
“The Orlando median home price has now experienced year-over-year increases for the past 55 consecutive months,” the association noted in the report, while adding that in February, the median price was 60.17 percent higher than it was seven months ago, in July 2015.
February’s median price was also the highest since August 2008, when the price was $200,000.
The rise in home prices reflects an increase in sales as well. ORRA members participated in the sale of 2,334 homes that closed in February. That was actually a decrease of 5 percent compared to February 2015, although it also marked an 8.76 percent increase from January 2016.
ORRA said the slower pace of sales last month compared to a year ago reflects fewer homes on the market – a shift that the association said has made this more of a seller’s market than a buyer’s market,
John Lazenby, the president of ORRA, said he’s hopeful that the increase in prices will encourage more area homeowners to put their house on the market.
“Our hope for easing the inventory shortage is that more sellers will evaluate the favorable conditions and decide to place their homes on the market before the traditional spring/summer home buying season starts in earnest,” Lazenby noted in the report.
Another aspect of the housing market in February was the strength of townhomes, which sold at a much faster pace than single-family houses, ORRA noted.
The sales of duplexes, townhomes, and villas shot up by 9.91 percent last month compared to February 2015, even as single family home sales fell by 4.7 percent.
ORRA noted that townhouses have become an appealing – and affordable – option for many home buyers in this market. Orlando home buyers purchased 244 duplexes, town homes, and villas last month.
An Flamand Orlando Real Estate Broker, with Orlando Vacation Realty agrees that the town homes have definitely been the preferred choice for many real estate buyers & investors.
Buyers may also have been drawn into the market by low interest rates. ORRA noted that the average interest rate paid by Orlando homebuyers in February was 3.75 percent, down from 3.93 in January.

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An upcoming referendum in the United Kingdom – and its impact on the Central Florida housing market

Terry Riffe | March 22, 2016

ORLANDO —There is an upcoming referendum in the United Kingdom, here is the impact it could have on the Orlando housing market.  In most instances, uncertainty is anything but a friend to the real estate market.
If someone is worried about their job, they don’t buy. If they have rising medical bills and don’t know how costly they’re going to get, they hold off on that crucial decision of whether or not to purchase a home. Even a relationship turning sour can keep a buyer from contacting a real estate agent.

But for residents of the United Kingdom, a growing degree of uncertainty leading up to June 23 holds out the potential to make the real estate market seem considerably more attractive – although not in their native country, but in the U.S. An upcoming vote on the future of the United Kingdom’s role in the struggling European Union has already had an impact on the local real estate market – while at the same time, making an investment in the American housing market not only looks more attractive, but financially safer.
An Flamand, the owner and broker at An Flamand-Orlando Vacation Realty, noted that this situation has created uncertainty in the EU — and uncertainty in the second home market. The real estate brokerage based in Orlando, Florida understands the international market and the reasons why so many European buyers are now looking across the ocean to the U.S. when it comes to purchasing a second home. In contrast to all the political uncertainty happening in Europe, Flamand noted, the U.S. – and Central Florida in particular – offers an oasis of strong investment opportunities.
As Flamand noted, England is at something of a standstill at the moment – and has been ever since UK Prime Minister David Cameron announced the country would hold a referendum on Britain’s role in the European Union. Scheduled to be held on Thursday, June 23, it’s a vote on whether to stay in the EU — an economic and political partnership involving 28 European countries which has grown to become a single market with its own currency, the euro, used by 19 of the member countries. The EU also has its own parliament and sets rules in areas ranging from the environment to transportation to consumer rights.

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Orlando Vacation Realty joins prestigeous Mayfair International

Terry Riffe | March 15, 2016

An Flamand, Real Estate broker, has joined the prestigious Mayfair International.

ORLANDO – Central Florida’s leading real estate brokerage, An Flamand-Orlando Vacation Realty, has been invited to join Mayfair International Realty, a prestigious network of more than 100 different brokerages internationally.

This opportunity will enable An Flamand to market properties to the European investor, a key part of the thriving Greater Orlando real estate market today.
An Flamand, Real Estate broker of An Flamand-Orlando Vacation Realty, noted that Florida is such a strong international draw for tourists, business entrepreneurs and investors alike that joining Mayfair offers her a greater ability to help connect European clients with Central Florida’s housing market.
“We consider being part of Mayfair International Realty as an essential move to guarantee that our clients’ properties reach the widest possible market,” she said. “We are now working in a global real estate village. The international real estate investor is a reality. Our aim, working with Mayfair International Realty, is to bring the global investor to our marketplace.”
Mayfair International Realty brings together “the finest luxury real estate with the very best brokers and agents from across the globe,” noted the UK-wide network that was founded in 1995.
The network has since grown to become of the foremost groups of luxury real estate agents in England, Scotland, Wales and Ireland.
As An noted, joining the network is really about sharing its unique vision.
“You need to have the same values and the same ethics,” she said.
Those values include “uncompromising service and a superb range of luxury homes to discerning international clients,” Mayfair noted on its website, adding that they are also looking for a brokerage that can provide “a unique and clear benefit to your clients and a powerful tool for your agents.”
It’s a network, Mayfair noted, that aims to be “synonymous with quality, integrity, experience and customer satisfaction.”
As Flamand noted, she has plenty of experience working with European investors, who have been searching for great opportunities in the Orlando market for decades – so much so, she added, that her client list “reads like a world atlas.”

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