Orlando Real Estate

UCF Wins First Conference Championship

December 3rd, 2007 8:53 AM by David W. Welch

I can't think of a better way to celebrate UCF's championship, than to buy a home. I am kidding about that, but it is truly a great time to be a home buyer. Some people are waiting for the bottom to fall out, or to pick up a great deal on a foreclosure, etc. Here is the situation. Prices have come down, but only a little because people are continuing to move to Orlando. They are not moving here at the same pace that they have been, but they want to. Many have homes they need to sell somewhere else first. Those that don't need to sell, but have decided to rent, are getting tired of renting.

Sales in November are holding the pace of the last couple of months, and the median price is holding steady. A recent federal government report shows that sales of the same property year over year show a slight increase in price. There are a lot of homes for sale - way too many, but that is not going to last forever. The new home builders have stopped building, and their inventory is continuing to go down. I personally believe that you have a very narrow window of opportunity at the best buyers market we have ever had.

www.davidwelch.com

Posted in:General
Posted by David W. Welch on December 3rd, 2007 8:53 AM

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