Hojin’s Southwest Orlando Real Estate Scoop

Foreclosures and short sales have become a commonplace in the Dr. Phillips and Windermere market as well as most other areas in Orlando and bringing your home’s value down. It appears we’re all at the mercy of banks to set prices for our homes.
You’d think the appraisers would take this into account when valuating homes [...]

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A glance at the 2009 real estate statistics for Orange County, FL shows a marked improvement in the market over the past 12 months. Most importantly the supply of homes currently stands at a healthy 6.4 months and the number of sales have hovered around 1,5o0 for the second half of 2009.
There’s still a heck [...]

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The Case-Shiller Index numbers were released this past week and revealed 4 consecutive months of price increases meaning they’re going back up. We’ve all been so used to seeing this index say decreases that it’s a bit of a shocker.
Blitzer says there’s a real chance that we’ve turned the corner and finally done with price [...]

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Lawrence Yun, chief economist for the National Association of Realtors, comments in this video that the rise in pending home sales signals a recovery. He also notes that there is a disconnect between pending home sales and existing home sales mainly due to tighter underwriting standards for lenders and stricter appraisal guidelines.
I think he’s overlooking [...]

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The statistics for real estate in Orlando has been showing steady signs of improvment, but is this improvement for real? One of the most promising statistics is the reduction in inventory to near stable levels at just over 8 months.
There’s been a lot of talk of a shadow inventory that’s been created by the banks [...]

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The real estate market is heating up… literally. With the blazing summer heat, the real estate market in Orlando traditionally heats up alongside the rising temperatures.
Really, there’s no correlation between temperature and the real estate market. It’s actually because the summer is the easiest time to move for people with kids in school. If [...]

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The University of Central Florida’s Institute for Economice Competitiveness recently released their quarterly forecast which surprisingly reveals some promising facts about the housing market. They predict a bottom to the housing market in the second quarter of 2009. Amazingly, housing starts are 87% below the peak levels we experienced just a few years ago. They [...]

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Part 1

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Part 2

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People ask me all the time when this market will turn around as if I had some crystal ball. I never answer the question, because I honestly have no clue. Any real estate professional who answers otherwise is totally full of it and I’d be vewy careful.
Now [...]

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HUD secretary, Shaun [...]

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I attended a real estate investing class this past week and here’s a few more things I picked up besides the possibility of double digit interest rates.
Lisa has been a property manager for commercial properties for about 20 years and she has a pretty grim picture of the commercial market. Tenants are renegotiating their leases. [...]

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