It's A Sellers Market (Orlando: for sale, real estate, 2014)

[FLBirdwatcher]

According to the news today, Orlando home prices are up and inventory is down. It might be a good time to sell to get top dollar: It's a seller's market for central Florida home sales | www.wftv.com they said in a piece that was aired on the local news. They said that foreign investors from China and other places far away as well as large investors are coming into the market to buy with deep pockets and paying cash.

[tallrick]

Better cash out before the current bubble bursts. Just you will have to wait a long time before you can buy another.

[chopchop0]

Originally Posted by tallrick

Better cash out before the current bubble bursts. Just you will have to wait a long time before you can buy another.

The best reason to invest in the stock market instead of real estate

[kyle19125]

Originally Posted by FLBirdwatcher

According to the news today, Orlando home prices are up and inventory is down. It might be a good time to sell to get top dollar: It's a seller's market for central Florida home sales | www.wftv.com they said in a piece that was aired on the local news. They said that foreign investors from China and other places far away as well as large investors are coming into the market to buy with deep pockets and paying cash.

That kind of conflicts with other information stating that home prices are falling and are forecasted to continue that trend until at least the first quarter of 2014.

Home prices Orlando to dip - Orlando Sentinel

Furthermore...."Florida posted the nation’s highest state foreclosure rate in the first half of the year: 1.74 percent of housing units with a foreclosure filing (one in every 58) during the six-month period — nearly three times the national average. A total of 155,264 Florida properties had a foreclosure filing in the first six months of the year, the most of any state and up 12 percent from a year ago. In June, Florida foreclosure starts (LIS) decreased 23 percent from a year ago but scheduled foreclosure auctions increased 100 percent and bank repossessions increased 14 percent during the same time period."

Midyear 2013 U.S. Foreclosure Market Report

[WithDisp]

I see home prices rising steadily from 2 years ago.
Can't say that helps anyone predict anything long term- but it's NOT what it used to be.

Homes are being foreclosed upon like crazy- but that does NOT mean the banks are putting them up on the market for sale. They are sitting on them, funneling any financed back through Fannie Mae / Freddie Mac and selling them at slightly above market rate since standard financing is very difficult for many people.

[FLBirdwatcher]

Corelogic also predicted a drop in home prices in Orlando for the coming months, so yes it is a bit of a contradiction. The fact is that no one knows where the market is really going. There are so many variables that can put pressure on the market.

See this thread: //www.city-data.com/forum/orlan...sed-homes.html
When these investors start to pull out of the market, prices will likely start to drop drastically. Hedge fund investors are not likely to sit on these homes for long. That's when the market will be flooded with for sale properties. They will be trying to sell on top of individual owners who are trying to sell. Prices will drop considerably due to supply and demand.

Now, there is high demand for houses by these investors. It is making it hard for families, who want to settle here, to purchase something due to the competition, according to the news clip that was on WFTV. Who knows when these investors will stop the current trend of buying. When that happens, that's when prices will dip.

There are still foreclosures and short sales that the market is working through, but with a steady stream of foreign investors housing inventory will likely dwindle. The banks are also giving priority to these hedge funds to move their distressed properties out of their inventory. It is still a seller's market at this time, but it could come to an abrupt halt at any moment. With the steady rise in home prices, investors could decide to start selling at any time. That may be what these forecasters, who are predicting drops in prices, are taking into account.

[chopchop0]

Originally Posted by kyle19125

That kind of conflicts with other information stating that home prices are falling and are forecasted to continue that trend until at least the first quarter of 2014.

Home prices Orlando to dip - Orlando Sentinel

Furthermore...."Florida posted the nation’s highest state foreclosure rate in the first half of the year: 1.74 percent of housing units with a foreclosure filing (one in every 58) during the six-month period — nearly three times the national average. A total of 155,264 Florida properties had a foreclosure filing in the first six months of the year, the most of any state and up 12 percent from a year ago. In June, Florida foreclosure starts (LIS) decreased 23 percent from a year ago but scheduled foreclosure auctions increased 100 percent and bank repossessions increased 14 percent during the same time period."

Midyear 2013 U.S. Foreclosure Market Report

that is a prediction going forward. Certainly a possibility with the sharp rise in interest rates. Up until now though, Orlando and much of central FL has seen supply go down and prices go up.

[FLBirdwatcher]

I'm still seeing a lot of short sales coming on the market. I wonder how long it will take for those to work themselves out of the inventory.