Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 19, 2024

Orlando Real Estate Buzz: Key Market Insights and Updates

 

 

Orlando Real Estate Buzz: Key Market Insights and Updates

Good morning, and welcome to the Orlando Real Estate Buzz. I'm Brenden Rendo of The Homes in Orlando Team. Today, I’ll be your sole host as Joe is traveling and dealing with multiple layovers. Despite his absence, we have a lot of important updates to cover, so let's dive in.

Fed’s Rate Decision and Economic Indicators

Yesterday, the Federal Reserve announced that they will hold interest rates steady for now. Jerome Powell expressed a cautious stance, indicating that there might be a rate cut before the end of the year, but nothing is certain yet.

Unemployment Numbers

Initial claims rose to 242,000, the highest increase since August 2023. Total unemployment increased by 30,000, bringing the total to 1,820,000.

Producer Price Index (PPI)

PPI showed a slight decline, suggesting that inflation pressures might be easing.

These indicators point to a softening economy, which could influence the Fed to cut rates sooner if the trend continues.

Impact on the Real Estate Market

The Fed’s cautious approach and the recent economic data have significant implications for the real estate market. Here’s what you need to know:

Interest Rates

With bond markets reacting positively to the CPI data, we’re seeing slight improvements in interest rates. This weekend could be an excellent time for homebuyers to shop for homes with potentially lower rates.

Home Affordability

According to the Fannie Mae National Housing Survey, a record 86% of people believe it’s a bad time to buy a home, primarily due to unaffordability. This is down from 20% last month, reflecting a shrinking buyer pool.

Regional Market Trends

Florida, particularly Orlando, is experiencing significant shifts in the real estate market:

Inventory and Sales

Orlando’s housing inventory has increased by over 21% since the beginning of the year. Sales have dropped, and we’re seeing more price cuts than ever.

Cooling Markets

West Florida, including North Port, Tampa, and Cape Coral, are among the fastest cooling markets in the nation. Orlando is also cooling, with a rise in inventory and price reductions.

New Construction

Despite the cooling market, Florida continues to build more new homes than any other state. However, builders are increasingly offering incentives to attract buyers.

Condo Market Challenges

The condo market in Orlando faces unique challenges:

Special Assessments

New laws have led to significant special assessments for condo owners, making it cheaper to rent than own in many cases.

Declining Prices

Condo prices are dropping as inventory increases and sales decline. Buyers must be cautious of potential special assessments and high HOA fees.

Conclusion

Orlando’s real estate market is in a state of flux. While inventory increases and sales decline, opportunities exist for savvy buyers, especially with potentially lower interest rates. Builders are offering incentives, making new homes more attractive, but affordability remains a significant hurdle.

For more detailed insights and weekly updates, join us every Thursday on the Orlando Real Estate Buzz. Don't forget to like, subscribe, and reach out with any questions. Thank you for tuning in!

 

June 12, 2024

Deland Real Estate Market Update 2024: Hot Trends and Key Stats

Deland Real Estate Market Update 2024: Hot Trends and Key Stats! 🏡📊

 

🏡 Deland Market Update 📊

As a REALTOR® with NextHome Neighborhood Realty, I'm excited to share the latest data for Deland, FL 32724. The current Months Supply of Inventory is at 3.3, with a 44.1% increase over the last 12 months. The List to Sold Price percentage is 98.1%, and the Median Sold Price is $373,910. If you're thinking of buying or selling in Deland, now is a great time!

#DelandRealEstate #MarketTrends

Key Stats:

  • 3.3 Months Supply of Inventory 📊
  • 44.1% Increase Over the Last Year 📅
  • List to Sold Price Percentage: 98.1% 💲
  • Median Sold Price: $373,910 🏠
  • Median Days on Market: 39 Days ⏱️

Contact Information:

📈 Looking to buy or sell in Deland? Let's talk! As your local REALTOR®, I can provide you with valuable insights into the market. With a Median days on market of 39 and a Median Sold Price of $373,910, it's important to stay informed about the current trends. Reach out to me today to get started on your real estate journey in Deland, FL 32724!

Market Insights:

🏠 Deland Real Estate Update: The market in Deland, FL 32724 is heating up! With a Months Supply of Inventory at 3.3 and a List to Sold Price percentage of 98.1%, now is the time to make a move. Whether you're looking to buy or sell, I'm here to help navigate the market trends and find the best opportunities for you. Let's chat about your real estate goals!

🌟 Exciting news for buyers and sellers in Deland! The Median Sold Price is $373,910, with a Median days on market of 39. Plus, the List to Sold Price percentage is at an impressive 98.1%. With these market trends in mind, it's a great time to explore your options in Deland, FL 32724. Reach out to me, Brenden Rendo, your trusted REALTOR®, for personalized guidance.

Stay Informed:

📊 Stay informed about the Deland real estate market! With a 44.1% increase in Months Supply of Inventory over the last 12 months, now is the time to act. The Median Sold Price is $373,910, and the List to Sold Price percentage is 98.1%. Whether you're a buyer or seller, knowing these key statistics can help you make smart decisions. Let's work together to achieve your real estate goals in Deland, FL 32724.

 

 

June 12, 2024

Deltona, FL Housing Market Trends Analysis for May - 32725 Zip Code Insights

 

Deltona Real Estate Market Update 2024: Hot Trends and Key Stats! 🏡📈

 

🏡 Deltona Market Update 📈

The real estate market in Deltona, FL 32725 is showing some remarkable trends, making it an exciting time for buyers and sellers. With a 2.85 months supply of inventory—a significant 137.5% increase over the last year—and a median sold price of $335,000, the market is hot and ready for your next move.

Key Stats:

  • 2.85 Months Supply of Inventory 📈
  • 137.5% Increase Over the Last Year 📅
  • List to Sold Price Percentage: 97.9% 💲
  • Median Sold Price: $335,000 🏠
  • Median Days on Market: Just 27 Days! ⏱️

Whether you're looking to buy or sell, these statistics highlight the strong potential for both parties. Homes are moving quickly, so it's crucial to stay informed and prepared.

Contact Information:

👉 Contact Brenden Rendo at NextHome Neighborhood Realty for expert guidance and personalized assistance. Let's chat about how these trends can impact your buying or selling strategy.

📲 Curious about your home's value?
Visit: Home Value Estimator

 

June 5, 2024

Orlando, FL Housing Market Trends Analysis for May - 32817 Zip Code Insights

 

 

Orlando FL 32817 Real Estate Market Update - May Report

32817 Orlando Real Estate Market Trends

32817 Orlando FL Housing Market Median Value

32817 Orlando FL Housing Market Inventory

Exciting Opportunities for Buyers and Sellers in Orlando's 32817 Area

Overview of Current Market Conditions

🌟 Attention Buyers and Sellers in Orlando, FL 32817! 🌟 Did you know that there is currently a 2.7 Months Supply of Inventory in our area? That's a 116% increase over the last 12 months! With a List to Sold Price percentage of 99.7% and a Median Sold Price of $410,000, now is a great time to make your move in the market. Let's chat about how these trends could impact your buying or selling strategy! #OrlandoRealEstate #MarketTrends

Key Market Statistics for Quick Decision Making

🏡 Looking to buy or sell a home in Orlando, FL 32817? Let's talk numbers! With a Median Days on Market of just 15 days and a Median Sold Price of $410,000, the market is hot! Plus, the List to Sold Price percentage is an impressive 99.7%. Don't miss out on this opportunity to make a move in our thriving real estate market. Contact me today to get started! #OrlandoHomes #RealEstateTrends

Spring Market Dynamics

🌺 Spring is in full swing in Orlando, FL 32817 - and so is the real estate market! With a Median Days on Market of just 15 days and a Median Sold Price of $410,000, now is the time to make your move. The List to Sold Price percentage is an impressive 99.7%, making it a great time to buy or sell in our area. Let's work together to achieve your real estate goals in this thriving market! #OrlandoSpringMarket #RealEstateOpportunity

Detailed Market Update and Future Outlook

📈 Market Update: Orlando, FL 32817 is seeing some exciting trends! With a 2.7 Months Supply of Inventory and a 116% increase over the last year, buyers and sellers alike have plenty to be optimistic about. The Median Sold Price is currently $410,000, with a List to Sold Price percentage of 99.7%. Ready to take advantage of these market conditions? Reach out to me today to discuss your real estate goals! #OrlandoMarketUpdate #RealEstateData

Get Personalized Guidance and Insights

🏠 Curious about the current market trends in Orlando, FL 32817? The numbers speak for themselves: 2.7 Months Supply of Inventory, +116% over the last year. The Median Sold Price is $410,000 with a List to Sold Price percentage of 99.7%. Whether you're buying or selling, these stats can help inform your decision-making process. Reach out to me for personalized guidance on navigating the Orlando real estate market! #OrlandoMarketStats #RealEstateInsights#32817zipcode

Curious about your home's value? Visit: Home Value Estimator

 

May 17, 2024

Exploding Heloc Trend: How $17.7 Trillion In Household Debt Is Fueling The Rise

 

The Orlando Real Estate Buzz: Navigating Market Trends and Updates

 

Good morning, and welcome to The Orlando Real Estate Buzz. I’m Brenden Rendo with The Homes in Orlando Team, joined as always by Joseph Dionne of Appli Home Loans. This week, we’re diving into some intriguing market numbers and local news that could impact your real estate decisions. Let's get started!

Analyzing the CPI and PPI Reports

We’ve seen some interesting reactions in the market this week, starting with the Consumer Price Index (CPI) numbers. There’s been some debate about potential manipulation of these figures, particularly in light of the recent Producer Price Index (PPI) report, which came in unexpectedly high. The PPI measures the prices producers receive for their goods, essentially a wholesale level before products reach consumers. The March PPI numbers were revised from a 0.2% gain to a 0.1% drop, raising questions about the integrity of these reports.

The CPI, which reflects what consumers pay, came in softer than expected for April, suggesting that inflation might be under control. However, this could be misleading as the PPI numbers for April were high, indicating potential future increases in consumer prices. It's a game of numbers that leaves room for skepticism about the true state of inflation.

Fannie Mae and Freddie Mac’s New Proposal

In other news, there’s an intriguing proposal from Fannie Mae and Freddie Mac to enter the second mortgage market. This move could potentially add more debt to the already staggering $17.7 trillion national debt. The proposal aims to allow homeowners with significant equity, particularly from the boomer generation, to tap into their home equity without selling their homes. This could open up an estimated $11 trillion in tappable home equity, but it also raises concerns about increasing consumer debt and the potential risks involved.

Local News: Corporate Layoffs in Orlando

Locally, we’re seeing some tough times for a major company in Orlando. Red Lobster, a well-known name with its headquarters here, is closing 48 stores nationwide, including one right here in Orlando. This isn’t a restructuring but an outright closure, reflecting the broader economic challenges businesses are facing. The rising costs of food and inflation are making it difficult for restaurants to stay afloat, leading to increased layoffs and closures.

Housing Market Insights

Now, let’s dive into the housing market. The National Association of Home Builders recently reported that 66.6 million households in the U.S. cannot afford a home priced at $250,000. In Florida, finding a home in that price range is nearly impossible without significant repairs or updates. The Orlando housing market is experiencing a significant increase in inventory, with over 6,000 units currently available and a noticeable rise in price reductions.

Condo Market Trends

The condo market in Orlando is particularly soft, with over 3,000 condominiums available and inventory levels up by over 25% since the beginning of the year. This has created a buyer’s market, with average days on the market for condos sitting at 70 days and a month’s supply of inventory reaching five and a half months.

Closing Thoughts

Despite the market's overall softness, there are still opportunities for buyers and sellers. We’ve seen some relief in mortgage rates recently, which is a positive sign for those looking to purchase a home. However, it’s essential to stay informed and navigate these changes carefully.

Thank you all for joining us on The Orlando Real Estate Buzz. We enjoy bringing you the latest market insights every Thursday. Please like, subscribe, and stay tuned for more updates. Until next time, take care!

 

May 15, 2024

Longwood, FL Housing Market Trends Analysis for April - 32779 Zip Code Insights

Longwood Real Estate Market Update – April 2024

 

🏡 Attention Longwood Buyers and Sellers! 🏡 Did you know that there is currently a 3.53 Months Supply of Inventory in our area? This means it's a great time to buy or sell your home! Contact me, Brenden Rendo, REALTOR® with NextHome Neighborhood Realty, for more information. #LongwoodRealEstate #MarketTrends

Market Overview

Current Inventory and Pricing

📈 Looking to buy or sell in Longwood, FL 32779? The List to Sold Price percentage is at 98.6%, meaning sellers are getting top dollar for their homes! With a Median Sold Price of $580,000, now is the time to make a move. Let's chat about your real estate goals today! #LongwoodHomes #RealEstateMarket

Homes in Longwood are selling fast! With a Median days on market of only 29, you won't want to wait to make your move. Whether you're a buyer or seller, I can help guide you through the process. Contact me, Brenden Rendo, for expert advice on navigating the current market trends. #FastSellingHomes #LongwoodRealEstate

Market Dynamics

🌟 Exciting news for Longwood buyers and sellers! Over the last 12 months, the Months Supply of Inventory has increased by +256.57%. This means there are more options available for buyers, while sellers can still expect competitive offers. Reach out to me, Brenden Rendo, REALTOR® with NextHome Neighborhood Realty, to learn more. #LongwoodMarketTrends #RealEstateUpdate

What This Means for Buyers and Sellers

For Buyers

🏠 Are you curious about the current real estate market in Longwood, FL 32779? Let's talk numbers: 3.53 Months Supply of Inventory, 98.6% List to Sold Price percentage, Median days on market of 29, and a Median Sold Price of $580,000. As your local expert, I can help you navigate these market trends and make informed decisions. Contact me today! #LongwoodRealEstate #MarketStats

For Sellers

The current market conditions are favorable for sellers. The high List to Sold Price percentage and low Median Days on Market suggest that well-priced homes are selling quickly and close to their asking price. If you’ve been considering selling, now might be the perfect time to list your property.

Get Expert Guidance

Navigating the Longwood real estate market requires expertise and up-to-date knowledge. Whether you're buying or selling, having a seasoned real estate professional by your side can make all the difference. Contact me today for personalized advice and strategies tailored to your unique situation.

🌟 Curious about your home’s value?
Visit this link to estimate your home’s value in Longwood.

Stay informed about the latest trends and make well-informed decisions in this fast-paced market. Follow me on [Social Media Platforms] for regular updates and insights.

#LongwoodRealEstate #MarketTrends #RealEstateMarket #LongwoodFL #RealEstateUpdate

May 14, 2024

Deltona, FL Housing Market Trends Analysis for April - 32725 Zip Code Insights

Deltona Real Estate Market Update – April 2024

 

 

Deltona, Florida, ZIP code 32725, is experiencing a dynamic real estate market as of April 2024. Whether you're looking to buy or sell, these market insights can guide your decisions. Let’s dive into the key statistics and what they mean for you.

Market Overview

Current Inventory and Pricing

🏡 Months Supply of Inventory:
As of April 2024, Deltona has a 2.58 Months Supply of Inventory. This indicator shows the market is leaning towards a balanced state, offering opportunities for both buyers and sellers. A balanced market typically has around six months of supply, so Deltona's current market is still relatively competitive.

📊 List to Sold Price Percentage:
Homes in Deltona are selling at 97.8% of their list price. This high percentage indicates strong demand and minimal negotiation, reflecting a robust market where sellers can expect to sell close to their asking price.

💰 Median Sold Price:
The Median Sold Price for homes in Deltona is $310,000. This figure provides a benchmark for what buyers can expect to pay and what sellers might receive.

Market Dynamics

📈 Yearly Changes:
Over the past 12 months, the Months Supply of Inventory has increased by 115%. This significant rise suggests that more homes are entering the market, giving buyers more options and potentially easing upward pressure on prices.

⏱️ Median Days on Market:
Homes in Deltona are selling fast, with a Median Days on Market of just 14 days. This rapid turnover rate underscores the competitiveness of the market, where properties are quickly attracting buyers.

What This Means for Buyers and Sellers

For Buyers

Now is an excellent time to explore the Deltona real estate market. With the increase in inventory, buyers have more choices and can act swiftly to secure their ideal home. The high List to Sold Price percentage indicates you'll need to make competitive offers to succeed.

For Sellers

The current market conditions are favorable for sellers. The low Median Days on Market and high List to Sold Price percentage suggest that well-priced homes are selling quickly and close to their asking price. If you’ve been considering selling, now might be the perfect time to list your property.

Get Expert Guidance

Navigating the Deltona real estate market requires expertise and up-to-date knowledge. Whether you're buying or selling, having a seasoned real estate professional by your side can make all the difference. Contact me today for personalized advice and strategies tailored to your unique situation.

📞 Contact Information:
- Phone: [Your Contact Number]
- Email: [Your Email Address]

🌟 Curious about your home’s value?
Visit Deltona FL Home Value Estimator to estimate your home’s value in Deltona.

Stay informed about the latest trends and make well-informed decisions in this fast-paced market. Follow me on [Social Media Platforms] for regular updates and insights.

#DeltonaRealEstate #MarketTrends #RealEstateMarket #DeltonaFL #RealEstateUpdate

May 12, 2024

Get Ready: The Hometown Heroes Program Florida Qualifications

Hometown Heros Program Florida Qualifications

Unlocking the Door to Homeownership: Florida's Hometown Heroes Program Receives $100 Million Funding Boost

Introduction

Great news for Florida's homebuyers! As of July 1, 2024, the Hometown Heroes program will be replenished with an additional $100 million, aimed at helping first-time homebuyers and community workers achieve the dream of homeownership. This blog post explores the refreshed program details, eligibility criteria, and how you can apply.

What is the Hometown Heroes Program?

The Hometown Heroes Program in Florida is designed to make homeownership more accessible to those who serve our communities. By providing financial assistance for down payments and closing costs, the program addresses the financial challenges faced by many first-time homebuyers in today's market.

Program Benefits:

Financial Assistance

Receive up to 5% of the purchase price in down payment assistance, with a minimum of $10,000 regardless of the sales price.

Diverse Mortgage Options

The program supports FHA, USDA-RD, and VA loans, catering to different financial needs.

Tax Exemptions

Save more with exemptions from documentary stamp tax and intangible tax on mortgages.

Eligibility Requirements:

Open to More Floridians: You must be a first-time homebuyer or have not owned a home in the last three years. Exceptions apply to military personnel and veterans.

Income and Credit: Ensure your income meets the annually determined limits and maintain a minimum FICO score of 640.

Employment: You must be employed by a Florida-based business with a physical presence, although remote workers are eligible.

How to Apply:

Interested in the Hometown Heroes program? Follow these steps to get started:

  1. Verify Your Eligibility: Review the detailed eligibility requirements on our Eligibility Page.
  2. Gather Necessary Documents: Prepare documents proving income, employment, and any additional required certifications.
  3. Contact a Participating Lender: Connect with a lender who participates in the Hometown Heroes program to begin your application process.
  4. Attend a Homebuyer Workshop: Benefit from attending a workshop to fully understand the buying process and responsibilities of homeownership.

Conclusion:

The Hometown Heroes program not only assists individuals in purchasing their first home but also strengthens community ties by enabling more Floridians to become homeowners. If you meet the eligibility criteria and are dreaming of your own home, now is the time to take action.

Stay Updated:

For the latest information and updates about the Hometown Heroes program, subscribe to our newsletter and follow our blog. Don't miss out on future opportunities to make your homeownership dreams come true.

 

April 28, 2024

Orlando Real Estate Watch: Economic Indicators and Rising Mortgage Rates

Orlando Real Estate Watch: Economic Indicators and Rising Mortgage Rates

 

Introduction:

Good morning, Orlando! In today’s update, we delve into recent economic upheavals including a missed GDP forecast and their repercussions on the real estate market. With mortgage rates potentially climbing back to 8%, we unpack what this means for you whether you’re buying, selling, or just keeping an eye on the market.

Understanding the Economic Indicators:

The morning’s financial reports have delivered a blow with GDP significantly underperforming expectations, marking a slow crawl at a 1.6% increase versus the anticipated 2.5 to 2.9%. This underperformance suggests a cooling economy which could tighten housing market conditions further.

Impact of Rising Mortgage Rates:

Mortgage rates are on the brink of reaching 8%, a level not seen in recent times. This hike is likely to diminish buying power significantly, as every 0.25% increase in rates can cut down potential buying power by thousands of dollars, affecting how much home buyers can afford in the current market.

Market Dynamics and Buyer Power:

Strategies for Buyers and Sellers:

Buyers should be wary of fluctuating interest rates and consider locking in rates where possible. Sellers might need to recalibrate their expectations and pricing strategies to align with the new market realities, potentially considering concessions to close deals in a slower market.

Conclusion:

The Orlando real estate market is facing a period of significant change driven by external economic factors. Staying informed and agile in your strategies will be key to navigating this complex landscape. For both buyers and sellers, understanding these dynamics and planning accordingly will be crucial in achieving your real estate goals in the coming months.

Call to Action:

Stay tuned for more updates and expert insights on the Orlando real estate market. Whether you’re looking to buy, sell, or just stay informed, we’re here to provide you with all the information you need to make well-informed decisions.

April 27, 2024

Deltona, FL Housing Market Trends Analysis for March - 32725 Zip Code Insights

32725 Zip Code, March 2024, Key Real Estate Market Metrics

 

To enhance your understanding of the current real estate market, let's delve into the crucial metrics and their implications for both buyers and sellers.

Months Supply of Inventory

32725 zip code March 2024 Market trends

Starting with the Months Supply of Inventory, which currently stands at 2.45, this metric is vital for gauging market temperature. Typically, a lower figure denotes a seller's market, suggesting a faster pace of sales compared to listings. Conversely, a higher number signals a buyer's market, where properties linger longer on the market.

Year-Over-Year Increase in Inventory

32725 zip code home inventory march 2024

Next, the Year-Over-Year Increase in Inventory has surged by +66.67%. This substantial rise indicates a significant increase in available properties compared to last year, providing more choices for buyers and potentially easing competition among them.

Median Days on Market

The Median Days on Market is another telling indicator, currently at 23 days. This relatively short period signifies that homes are selling rapidly, likely driven by strong demand or compelling pricing strategies.

List-to-Sold Price Ratio

Furthermore, the List-to-Sold Price Ratio at 99.2% underscores that properties are selling remarkably close to their listed prices, suggesting a robust market condition where sellers have the upper hand in negotiations.

Median Sold Price

32725 zip code median home value

Lastly, with the Median Sold Price set at $310,000, this figure offers a snapshot of the average transaction price in the market, providing a benchmark for both buyers and sellers.

Market Summary

In summary, the presented metrics portray a balanced real estate environment with healthy inventory levels, quick sales turnover, and strong pricing dynamics. It's advisable for both buyers and sellers to engage with a seasoned real estate expert to gain a more nuanced understanding tailored to their specific needs. This professional insight can guide strategic decisions in this dynamic marketplace.

View All Available Homes In 32725 Zip Code