Central Florida Real Estate Recap of November 2024

Central Florida Real Estate Recap of November 2024

The Orlando Real Estate Market is considered 'Balanced' for the first time since 2011. 

State of the Market

• The supply of homes in Central Florida rose to 6.43 months in November, up from 5.45 months in October. A balanced market is six months of supply.
  
  • February 2011 was the last time there was a six-month supply of homes.
• Inventory for November was recorded at 11,604, up 2.2% from October when inventory was recorded at 11,357.
• November’s interest rate was recorded at 6.7%, up from 6.4% in October.
• The median home price for November was recorded at $380,000, down from $388,990 in October.
• Homes spent an average of 67 days on the market…

1267 Views, 0 Comments

Florida Housing Market Predictions for 2025 from Expert Agents

Florida Housing Market Predictions for 2025 from Expert Agents

The Florida housing market has been a hub of opportunity and growth, attracting homebuyers, investors, and families seeking a vibrant and dynamic place to live. With 2025 just around the corner, expert predictions shed light on what buyers and sellers can expect in Florida’s real estate landscape. Rising demand from new residents, shifts in mortgage rates, and regional growth make 2025 a pivotal year for Florida’s housing market. 

This overview, based on insights from experienced agents, highlights key factors that will shape Florida’s housing market in 2025.

The Future of Home Prices: Florida Housing Market Predictions 2025

Home prices in Florida are expected to show…

43943 Views, 0 Comments

Home Inspection Process: What Home Sellers Need to Know

Home Inspection Process: What Home Sellers Need to Know

When selling a home, the inspection process can have a significant impact on the sale price, the timeline of the transaction, and how negotiations play out. For sellers, understanding the home inspection process is a crucial step in navigating the journey successfully. When sellers prepare ahead of time, they can address potential issues before they turn into major sticking points for buyers. 

This guide will walk you through everything you need to know about the home inspection process as a seller, from what to expect during the inspection to how the results can affect your sale.

Why Home Inspections Matter When Selling Your Home

A home inspection is a comprehensive evaluation of a…

2435 Views, 0 Comments

Central Florida Real Estate Recap of October 2024

Central Florida Real Estate Recap of October 2024

Orlando saw a Drop in the nine-month streak of rising inventory in October, even as interest rates rose back into the 6.0s

State of the Market

• Inventory for October was recorded at 11,357, down 1.8% from September when inventory was recorded at 11,560. This breaks a nine-month streak of rising inventory.
  • Inventory in October 2024 was still 45.4% higher than in October 2023.
• October’s interest rate was recorded at 6.4%, up from 5.9% in September.
• The median home price for October was recorded at $388,990, up from $380,000 in September.
• Homes spent an average of 60 days on the market (DOM) in October – up slightly from 58 in September.
• …

1785 Views, 0 Comments

What Homebuyers Should Know about Condo Insurance in Florida

What Homebuyers Should Know about Condo Insurance in Florida

Owning a condo in Florida can be a rewarding investment, but it also brings unique responsibilities, especially when it comes to protecting your property. Unlike standard homeowner's insurance, condo insurance (often referred to as HO-6 insurance) is tailored for condo living and covers aspects specific to condominium ownership. With Florida’s climate-related risks—like hurricanes, flooding, and tropical storms—having adequate condo insurance is essential. Here, we’ll break down the basics, cover what condo insurance includes, and guide you on how to select the right policy to keep your investment safe.

What Is Condo Insurance Florida?

Condo insurance in Florida (HO-6 insurance)…

2251 Views, 0 Comments

Why Davenport Is Becoming a Popular Spot for Vacation Rentals

Why Davenport Is Becoming a Popular Spot for Vacation Rentals

Davenport, Florida, is quickly making a name for itself as one of the most desirable locations for vacation rentals. Situated in the heart of Central Florida, this charming town offers the perfect blend of convenience, affordability, and natural beauty. For those looking for a quiet escape close to world-renowned attractions, Davenport is the ideal choice. It’s no wonder more families, travelers, and investors are turning their attention to this hidden gem. Let’s dive into the reasons why Davenport is becoming such a popular spot for vacation rentals and why you should consider it for your next trip—or investment!

Check Out Vacation Homes for Sale in Davenport, FL

Prime Location…

1801 Views, 0 Comments

Central Florida Real Estate Recap of September 2024

Central Florida Real Estate Recap of September 2024

Lower interest rates and rising inventory levels are setting the stage for a balanced Orlando housing market as we head through fall

State of the Market

• Inventory for September was recorded at 11,560, up 0.4% from August when inventory was recorded at 11,511. This is the ninth month in a row inventory has risen. The last time inventory was this high was September 2015.
  
  • Inventory in September 2024 was 71.1% higher than in September 2023.
• September’s interest rate was recorded at 5.9%, down from 6.1% in August. This is the lowest interest rates have been since August 2022.
• Homes spent an average of 58 days on the market (DOM) in September – up…

2586 Views, 0 Comments

What Home Buyers Need to Know About the NAR Settlement

What Home Buyers Need to Know About the NAR Settlement

Navigating the real estate market can feel overwhelming, especially with recent changes like the National Association of Realtors (NAR) settlement. You may be wondering, "What does the NAR settlement mean for buyers?" In short, the settlement introduces new rules that can affect your relationship with real estate agents, as well as how commissions are handled. Let’s break down what this means for you as a home buyer.

What Is the NAR Settlement and Why Does It Matter?

The NAR settlement is a major legal agreement designed to increase transparency in the real estate industry, particularly when it comes to how agents are compensated. It was brought about by claims that the way commissions…

7605 Views, 0 Comments

Understanding Dual Agency in Florida

Understanding Dual Agency in Florida

If you’re in the process of buying or selling a home in Florida, you’ve likely heard the term "dual agency." While it’s a common practice in many states, it’s important to understand that dual agency is illegal in Florida. This is for good reason—it poses a number of conflicts that can impact both buyers and sellers. In this blog, we’ll walk you through what dual agency is, why it’s illegal in Florida, and the alternatives you need to know about when navigating the Florida real estate market.

What is Dual Agency?

Dual agency occurs when a single real estate agent represents both the buyer and the seller in a transaction. In states where this is allowed, one agent handles all aspects of the sale for both…

24857 Views, 0 Comments

Central Florida Real Estate Recap of August 2024

Central Florida Real Estate Recap of August 2024

August’s interest rate was the lowest that interest rates have been since August 2022

State of the Market

• August’s interest rate was recorded at 6.1%, down from 6.6% in July. This is the lowest interest rates have been since August 2022.
• Homes spent an average of 57 days on the market (DOM) in August – up from 55 in July.
• In August 2023, homes spent an average of 41 days on the market.
• Inventory for August was recorded at 11,511, up 3.2% from July when inventory was recorded at 11,158. This is the eighth month in a row inventory has risen. The last time inventory was this high was September 2015.
• Inventory in August 2024 was 88.2% higher than in August 2023.
…

1541 Views, 0 Comments