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Old 01-17-2011, 12:17 PM
 
2 posts, read 6,053 times
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My family will be relocating to Orlando this summer. As I was surfing the web, I noticed a lot of homes for sale and a lot of foreclosures in the eastern part of Orlando (around UCF). Can anyone give me some background on that area (why the seemingly higher rate of foreclosures, how are the schools, crime, etc)? Will it be hard to resell property in that area?
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Old 01-17-2011, 06:47 PM
 
Location: Lake Mary, Florida
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Most of these homes were built and sold during the big run and with some loans adjusting and other people needing to sell for a variety of reasons short sales and foreclosures are the rule.

Just helped a buyer purchase a property within a stones throw from UCF, the area shouldn't be an issue for future resales.

Hope this helps,
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Old 01-18-2011, 11:19 AM
 
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Check the school ratings before you buy. Whether you want to rent or sell in the future it will play an important factor.
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Old 01-19-2011, 04:31 AM
 
Location: Orlando
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Avalon Park was an investor driven market. They often bought multiple properties with the expectation of selling prior to closing. the values slipped and investors were left holding the homes. This resulted in many going into foreclosure.

Those that weren't investors often opted for the ARM loans which when they adjusted the banks gouged and with the drop in values the owners were not able to refi to a fixeed rate.

Now we have some reallyy nice fairly new homes at some bargain rates I've set a few people up with some nice places there.

The areas you may hear mention of are Avalon Park, Waterford Lakes, Eastwood / Northwood and Stoneybrook (East)... There is one in Winter Garden too...
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Old 01-20-2011, 04:19 AM
 
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I was over there on Sunday to get something off Craigslist and the homes looked rather shabby. The seller had lost her home and it did not seem to be holding up well, peeling paint, trim falling off, not that old of a home. There are other subs in that area and she liked living there, good schools, but you might be careful and look closely at the build quality.
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