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May 10th, 2010 2:10 PM by David W. Welch
While Baldwin Park in uptown Orlando is a relatively new neighborhood with homes still under construction, it has a well established location. Located between downtown Orlando and Winter Park, Baldwin Park has a fantastic location with easy access to everything Orlando. This terrific location and arguably the best schools in Orange County, make it a great place to call home. This shows in some of the sales statistics for the area. While the Orlando real estate market is dominated by distressed properties, so far this year only 10 bank owned and 12 short sales have sold in Baldwin Park. The 22 distressed properties make up 42.3% of the 52 closed sales. Orlando's overall closed sales were made up of nearly 69% distressed properties. Of the 9,470 closed sales this year, 4,260 or 45% were bank owned and 2,227 or 23.5% were short sales.
Looking at the active and pending sales in Baldwin Park paints a similar picture. There are currently 82 active listings with only 3 REO's and 20 short sales making up about 28% of the inventory. There are 77 pending sales in the neighborhood made up of 5 foreclosures, 44 short sales and 28 "normal" sales. The percentage of distressed pending sales is 63.6% compared with about 80% in the metro area. So, while Baldwin Park has not been immune to the effects of the economy, the impact has not been as great as what we have seen in the overall Orlando real estate market.
David Welch Real Estate Optimist, Orlando Real Estate