Orlando Real Estate

Clearance - Everything Must Go

December 8th, 2010 4:32 PM by David W. Welch

I wonder what would happen if we put big red clearance signs on all the homes for sale here in Orlando. This morning Waterstone Mortgage and North American Title sponsored the 2011 Realtor Success Summit here in Winter Park with Tim Davis. Tim brought up a very good point that I think we sometimes miss, because we don't always think like our customers. Homes really are on sale here in Orlando with prices down more than 60% from their peak back in 2006. It's like we are running a big clearance sale without the big red signs. What do these lower prices mean to our customers though? Let me give you a couple of examples of homes I currently have listed for sale.

The first one is a short sale at 13425 Phoenix Dr., Orlando, FL 32828. Listed at $189,900 this home is eligible for USDA financing, which allows you to purchase the home with ZERO down. That is right, if you qualify for USDA financing you can buy this home with no down payment. With FHA financing you would only put $6,647 down and have a principle and interest payment of only $978/mo at 4.75% with a 30 year fixed rate loan.

For a little more you can be on the beautiful fifth hole of Rio Pinar golf course. 1703 Cotswold Dr. in Brighton Woods is a short sale listed at $264,900. With FHA financing, you would only need to put down $9,272 and you monthly principle and interest would be just $1,364 with a 4.75% 30 year fixed rate loan. If these numbers sound good to you, give me a call to take a look at one of these great values. These are just two examples of the more than 15,400 homes currently on sale in Orlando

David Welch Real Estate Optimist, Orlando Real Estate

Posted in:General
Posted by David W. Welch on December 8th, 2010 4:32 PM

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