NEW Acuera Development!

Acuera by Surrey Homes

Acuera Development is a unique opportunity to own part of a beautiful, private community nestled in Seminole County off Marham Woods corridor. Bordered by the Wekiva River, conservation and a state park, this gated community will feature custom built homes by Surrey Homes. This exclusive community consists of only 38 premium homesites, each overlooking conservation and wooded beauty. The neighborhood includes canoe and fishing access to the Wekiva River.

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Two Orlando communities rank in the Top 100 best places!

Money Magazine names two Orlando communities, Winter Springs and Hunter's Creek, in the top 100 places to live.

Winter Springs

The beautiful city of Winter Springs is filled with family events and festivals year round. This small city with just under 32,000 residents is nestled in Seminole County, near Oviedo. With "A" rated schools, Winter Springs is a desirable city known for its great education and recreational activities year round. It's located near Interstate 417 and local shopping.

Search for homes in Winter Springs.

Hunter's Creek

Almost reaching 25 years, Hunter's Creek is a large community of subdivisions located in the heart of Orlando. Just south of Sea World and the 528 toll road, Hunter's Creek is centered around The Loop outdoor mall. With plenty of restaurants and shopping to choose from, everything is centrally located in Hunter's Creek. It's a short distance from Disney and the outlets.

Search for homes in Hunter's Creek by zip code 32837!

See full article by Orlando Sentinel.

Market Pulse Report: August 2011

Here's a few points from this month's pulse report in Central Florida:

·         Of the 2,147 sales in July, 905 “normal” sales accounted for 42.15 percent of all sales, while 607 bank-owned and 635 short sales made up 57.85 percent. The percentage of “normal” sales has increased for six consecutive months.

·         The 9,869 homes pending closing in July of this year is increased compared to the 9,133 pendings in July of last year.

·         Condo sales in the Orlando area decreased by 37.88 percent in July when compared to July of last year. Duplex, town home, and villa sales decreased 28.51 percent.

·         The median price of all existing homes combined sold in July 2011, $117,000, is a 7.64 percent increase from the $108,700 median price recorded in July 2010.

·         The Orlando affordability index decreased to 235.71 percent in July. First-time homebuyer affordability in July increased to 167.61 percent.

·         Homes of all types spent an average of 101 days on the market before coming under contract in July 2011, and the average home sold for 95.01 percent of its listing price.

·         There are currently 9,869 homes available for purchase through the MLS. The July 2011 inventory level was 19,133.

·         The current pace of sales translates into 4.82 months of supply.

·         Orlando’s condo inventory is 53.19 percent lower than it was in July 2010.

Condo sales are up!

Florida’s existing home, condo sales up in 2Q 2011

NAR: Second quarter metro area prices mixed

ORLANDO, Fla. – Aug. 10, 2011 – Florida’s existing home and existing condo sales experienced an upswing in the second quarter of 2011 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. Existing home sales rose 1 percent in 2Q 2011 with a total of 52,421 homes sold statewide; during the same period the year before, a total of 51,973 homes changed hands according to Florida Realtors. Statewide sales of existing condos in the second quarter rose 14 percent compared to the year-ago sales figure.

Statewide home and condo sales in the second quarter also increased over 1Q 2011’s sales figures, Florida Realtors’ records show. For 2Q 2011, statewide sales of existing homes rose 17.7 percent over the previous quarter’s activity; statewide existing condo sales increased 8.1 percent over the 1Q 2011 level.

The statewide existing-home median sales price was $134,600 for the three-month period; in 2Q 2010, it was $141,500 for a decrease of 5 percent. However, the 2Q 2011 statewide existing-home median sales price was 8.9 percent higher than the 1Q 2011 figure. The median is a typical market price where half the homes sold for more, half for less.

Looking at Florida’s housing sector in the second quarter of 2011, Dr. Sean Snaith, director of the University of Central Florida’s Institute for Economic Competitiveness, noted positive signs for a strengthening recovery. “Florida Realtors second quarter housing data shows that momentum in sales of both single family homes and condominiums continues to build, while median sales prices have also increased from first quarter to the second,” Snaith said.

“The fate of the housing market in Florida is tightly bound to that of the labor market,” he said. “They are like economic conjoined twins – improvement in one will invariably help the other. More jobs and lower unemployment will slow foreclosures as well as build the pool of potential buyers; both of these will work to help support prices. As single-family home and condo prices stabilize, the wealth effect of this will make owners more willing to spend, which in turn could boost hiring.”

Snaith added, “This may sound like a classic ‘chicken and the egg’ scenario, but as far as Florida’s economy is concerned, it doesn’t matter which comes first.”

In the year-to-year quarterly comparison for existing condo sales, 25,263 units sold statewide in the second quarter compared to 22,137 units in 2Q 2010 for a 14 percent gain. The statewide existing-condo median sales price was $94,700 in the second quarter; a year earlier, it was $96,400 for a 2 percent decrease. However, the 2Q 2011 statewide existing-condo median sales price was 17.3 percent higher than the 1Q 2011 figure.

Low mortgage rates were another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 4.66 percent in 2Q 2011; one year earlier, it averaged 4.91 percent.

© 2011 Florida Realtors®