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November 3rd, 2008 7:35 AM by David W. Welch
With the end of the month being on Friday, we have a few days before all the sales are posted in the MLS. As of this morning, there are already 1,076 closed sales posted. The median sales price of the sales posted so far is $180,000 which is just $2000 less than September. We continue to show more than 3,500 pending contracts with 1,553 or 44% identified as distressed properties. Only about 24% of the active listings are listed at distressed (bank owned, in foreclosure or pre-foreclosure). Of the closed sales posted so far, nearly 38% are distressed properties. This continues to demonstrate a trend of distressed properties leading the sales increases and price declines.
Last week, I closed a transaction on a Baldwin Park condo built by Centerline Homes for more than $330,000. I negotiated a contract on a corporate relocation in Remington priced at $175,000. By the way, that home is nearly 2,000 sq ft with a pool in a gated, golf course community in the Kissimmee area. I also am working on negotiating the sale of a foreclosure property in Meadow Woods just south of the Orlando International Airport. This last property is a 3/2.5 townhome priced in the $70's. Finally, Saturday I listed a fantastic starter home in Plantation Estates in Debary. This is a 3/2 with tile floors throughout, a white on white kitchen, and newer roof on over a 1/4 acre for $134,900. You can see it at www.249Toms.info.
I also introduced a new way for First Time Home Buyers to access information about downpayment assistance and financing options. If you are a first time buyer, be sure to check it out. I would love help you get into your first home here in Orlando. Orlando real estate is affordable again, and I have the tools and experience to help you find the right home.
David Welch, Orlando Real Estate Blog