Where does the real estate market in the area stand?

[OrlFlaUsa]

I am in the process of buying a home in a very safe, but entry level, area and let me tell you, there is not much available at this point. We jumped on a house quickly but have kept an eye out just in case and nothing move in ready and nice is really hitting the market.

[chopchop0]

Originally Posted by OrlFlaUsa

I am in the process of buying a home in a very safe, but entry level, area and let me tell you, there is not much available at this point. We jumped on a house quickly but have kept an eye out just in case and nothing move in ready and nice is really hitting the market.

that's true in a lot of markets. The time to buy was 2010-2012.

[OrlFlaUsa]

Originally Posted by chopchop0

that's true in a lot of markets. The time to buy was 2010-2012.

I know. We tried to qualify back in Spring of 2011 and couldn't quite get it done. However, just looking at a sales history for the property I'm buying makes me a very happy person. It's sold a number of times between 2000-now and even at the non-peak prices of the housing bubble, I still stand to make a pretty penny, just not a killing which is ok by us. Plus even if we hang onto it for 10 years and it only gets standard appreciation, we still got a nice house for a fair price at a lower than normal interest rate. However you are correct that the time to buy has passed in all RE markets.

[ajnucch]

Originally Posted by beckycat

I've been watching the real estate market lately. From my observations, I've noted the following:

1) Inventory is down. I'm wondering why many people aren't selling?

2) The majority of the inventory that is available is priced low and has been reduced.

3) As for condos in my area that were foreclosures, they have been bought up by foreign investors.

I'm trying to figure out where the market in the area stands at this point. Any ideas?

We just returned for the Orlando area, was pretty shocked to see the homes are going up, good for the seller's but not the buyer's, we even drove to Clermont, and the suburbs of Orlando, thinking get more bang for the buck, was not the case, overall disappointed with our recent trip there from NC..... Need to figure plan B now I guess, we were looking further South on the east coast as well, actually seems more reasonable in the Vero, PSL area's, good luck !