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.
February 9th, 2010 2:05 PM by David W. Welch
I had a comment on one of my recent posts inferring that buyers appeared to be willing to pay 20% more for a "normal" sale. That is not actually what is taking place here in Orlando. The bank owned and short sales just tend to be concentrated in lower price ranges. While half of all "normal" listings are priced above $249,000, only about 10% of all the closed sales are above $249,000. Around 7% of bank owned properties for sale exceed that number, and just under 13% of short sales are currently on the market for $250,000 and above.
In Orange County, there are currently 824 bank owned, 3,288 short sale and 4,243 "normal" properties for sale. That means there are 3,637 distressed properties listed under $250,000 and only about 2,100 "normal" sales listed in that price range. Conversely, there are 475 distressed properties priced higher than $250,000 with about 2,100 "normal" properties priced in that range.