Hojin’s Southwest Orlando Real Estate Scoop

I spent the past week in a real estate investing class in order to fulfill my post licensing education requirement for my broker’s license and learned quite a bit. There were real estate professionals specializing in numerous different fields and we all had one thing common, our business is way down.
The stuff in the textbook [...]

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The Orlando Regional Realtor Association just released the latest statistics for the real estate market in Orlando and they look a little better. The number of sales increased from 1,110 sales in November 2008 to 1,305 sales in December 2008 and the inventory dropped from 24,408 to 22,524. Not bad, but we’re still looking at [...]

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Nariman Behravesh of Global Insight recently released his predictions for 2009 and are as follows:
1. The US recession will be one of the deepest-if not the deepest in the post war period. The current downturn is well on its way to becoming the longest in the past six decades. Based on the December IHS Global [...]

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Today, I had a conversation with Natalie Pausch, a local appraiser who specializes in Dr. Phillips and Windermere,  and she happened to mention that many of her appraisals are now showing that homes in SW Orlando are priced below replacement cost using the cost approach which Natalie describes as the easiest to understand of the [...]

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I’ve heard a lot of real estate professionals say the market is going to recover in the second half of 2009, but I haven’t heard any valid reasons why that’s gonna happen. Unfortunately, I’ve heard a lot good reasons why the current down market will continue for quite some time. According to this piece by [...]

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I’m gonna get a little boring and political today. I ran across this article in the Chicago Tribune by economics professor Casey Mulligan at the University of Chicago that made a light bulb go off in my head…   the freakin US Treasury and Bernake are proposing a wacky welfare program as a solution to the [...]

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Money Magazine’s Forecast 2009: Year of the Thaw predicts another year of declining prices for housing across the country. Stephen Gandel, the author of the article, rebukes the old adage that real estate is all local and points out that the cause of the decline in housing is mainly due to the national credit crisis. [...]

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Surprise. Surprise. The data for the Case Shiller Home Price Index was released today and it shows another record decline of 16.6% year over year for the 20 city composite index. Central Florida saw a year over year decline of 18.1% and a month to month decline of .4%.
A concern of note is David Blitzer [...]

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Treasury Secretary Paulson said on Wednesday that the bailout plan finally approved by Congress gives him wide authority to inject capital in the banking system which he will excercise urgently. Hearing him say that is great relief since we don’t need a failing banking system in our country. 
The downer side of his speech was his recognition [...]

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The PMI Group just released a study identifying the real estate markets most likely to see price declines in the next two years and Orlando-Kissimmee was close to the top of the list with a 99.4% chance for a decline.
Top 10 Riskiest Home Markets For Fall, 2008
Fort Lauderdale-Pompano Beach-Deerfield Beach; FL A 99.5
Riverside-San [...]

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