By signing into my site, you can access your favorites from any computer and get e-mail updates when new listings come in that match your recent searches.
August 17th, 2010 3:34 PM by David W. Welch
I have posted in my blog several times about the number of cash sales closing here in the Orlando real estate market. So far this month, cash deals are pushing ahead with over 56% of all the closings recorded as all cash transactions. August and September, traditionally are slower months as the school starts back up. These home buyers may be slowing down a bit, but investors are continuing to snap up bargains here. Look for the median price to edge down a bit more as the investor influence makes a bigger impact over the next couple of months. Of course, if the rental market remains strong that influence could persist reflected in lower sales prices until those home buyers come back enmasse in the spring. The Fed reported that banks lending guidelines are easing a bit (for the first time in four years), but I am still betting on the investors to wield a pretty good influence over our market for the next several months. After the November elections, I expect to see more improvement in the job market which should perk up the real estate market as well.
David Welch Real Estate Optimist, Orlando Real Estate