Statistics as reported by the MidFlorida Listing Service MLS to Sept 8, 2011
Number of Homes offered for sale: 1
Listed price: $ 150,000
Price per sq. ft. offered: $ 92.76
Number of Homes under contract: 6
Price range : $ 120,000 to $ 162,750
Average Price per sq. ft.: $ 75.24
Homes sold from Sept 8, 2010 to Sept 8, 2011 : 14
Price range from $ 118,296 to $ 196,000
Average price per sq. ft. sold: $ 86.88
Average price of home sold: $ 153,875
Average days in the market: 167
Bank owned sold: 5
Short sales sold: 3
For homes sold from Sept 8, 2009 to Sept 8, 2010
Number of homes sold: 15
Average price per sq. ft. sold: $ 97.88
Average price of home sold: $ 172,265
Average days in the market: 76
Drop in sq. ft. sold in one year: 11.2%
Drop in price of home in one year: 10.7%
There has been a sharp drop in prices in Winfield over the last year. More buyers are coming into the market and this is reflected in the outstanding number of pendings, that is, houses under contract, to such extent that actually the houses available for sale are severely reduced to just one as of September 8. This may be a good sign that inventory, being so low, prices will begin to pick up in Winfield. This is a good time to put your house to sale. Prices of sold houses in the last year dropped 3.5% over the asking price.
Distressed sales account for 57% of all sales in this past year and is an influencing factor in setting market prices. Feel free to contact me for further details whether selling or buying.
Thursday, September 8, 2011
Monday, May 23, 2011
Updated Statistics to May 23, 2011
Statistics as reported by the MidFlorida Listing Service MLS to May 23, 2011
Number of Homes offered for sale: 1
Listed price: $ 135,000
Price per sq. ft. offered: $ 77.63
Number of Homes under contract: 8
Price range : $ 119,900 to $ 199,000
Average Price per sq. ft.: $ 88.24
Homes sold from May 23, 2010 to May 23, 2011 : 13
Price range from $ 118,296 to $ 196,000
Average price per sq. ft. sold: $ 89.60
Average price of home sold: $ 155,196
Average days in the market: 143
Bank owned sold: 5
Short sales sold: 3
For homes sold from May 23, 2009 to May 23, 2010
Number of homes sold: 11
Average price per sq. ft. sold: $ 103.25
Average price of home sold: $ 181,098
Average days in the market: 88
Drop in sq. ft. sold in one year: 13.2%
Drop in price of home in one year: 14.3%
There has been a sharp drop in prices in Winfield over the last year. More buyers are coming into the market and this is reflected in the outstanding number of pendings, that is, houses under contract, to such extent that actually the houses available for sale are severely reduced to just one as of May 23. This may be a good sign that inventory, being so low, prices will begin to pick up in Winfield. This is a good time to put your house to sale.
Distressed sales account for 62% of all sales in this past year and is an influencing factor in setting market prices. Feel free to contact me for further details whether selling or buying.
Number of Homes offered for sale: 1
Listed price: $ 135,000
Price per sq. ft. offered: $ 77.63
Number of Homes under contract: 8
Price range : $ 119,900 to $ 199,000
Average Price per sq. ft.: $ 88.24
Homes sold from May 23, 2010 to May 23, 2011 : 13
Price range from $ 118,296 to $ 196,000
Average price per sq. ft. sold: $ 89.60
Average price of home sold: $ 155,196
Average days in the market: 143
Bank owned sold: 5
Short sales sold: 3
For homes sold from May 23, 2009 to May 23, 2010
Number of homes sold: 11
Average price per sq. ft. sold: $ 103.25
Average price of home sold: $ 181,098
Average days in the market: 88
Drop in sq. ft. sold in one year: 13.2%
Drop in price of home in one year: 14.3%
There has been a sharp drop in prices in Winfield over the last year. More buyers are coming into the market and this is reflected in the outstanding number of pendings, that is, houses under contract, to such extent that actually the houses available for sale are severely reduced to just one as of May 23. This may be a good sign that inventory, being so low, prices will begin to pick up in Winfield. This is a good time to put your house to sale.
Distressed sales account for 62% of all sales in this past year and is an influencing factor in setting market prices. Feel free to contact me for further details whether selling or buying.
Saturday, April 23, 2011
Orlando Market Update to March, 2011
Update from the Orlando Regional Realtor Association on market results on March, 2011: median price increases to $103,000 and normal sales jump 28% over February, short sales and bank-owned sales still prevalent, inventory equivalent to 5 months of sale and is 52% of high level in November, 2008. Turning point in sight.
Article republished with permission. Read on:
http://www.benjaminrealtor.com/central/?Orlando_Market_Update
Article republished with permission. Read on:
http://www.benjaminrealtor.com/central/?Orlando_Market_Update
Monday, April 11, 2011
Steps you Need to Know When Buying a Foreclosure
What to Watch Out for When Buying a Foreclosure: Help Your Clients Know Which to Buy…and Which to Walk By
By Dan Steward - Copyright 2011 RISMedia - Reprinted with permission.
RISMEDIA, April 7, 2011—The economy is improving overall and, as a result, some bright spots are showing up in the real-estate market. However, the foreclosure spike, which began around the same time the recession did, isn’t a distant memory just yet. In many areas, foreclosures are still happening; in some areas, those numbers have increased. Surprisingly, foreclosures have even encroached into some key cities that were formerly thought to be unshakable real-estate markets — like San Francisco, where foreclosures actually rose in 2010 (including in luxury neighborhoods like Pacific Heights, where a condo that sold in 2007 for $2.3 million recently sold for $1.44 million as a foreclosure).
This “second wave” of foreclosures – combined with the fact that many people’s 401(k)s have bounced back with the stock market, and most economists agree that the bottom of the recession has hit – means that competition for these foreclosed homes is, in many cases, fierce. There’s a renewed, final dash to get in on what some perceive as the best real-estate deals they’ll get in awhile. But how do you know which foreclosure is a good buy, and which to walk by? Here are some tips to help guide your clients:
Get it checked out by a pro. Perhaps the most essential point: Never go by looks alone as an indicator of whether a foreclosure is a good buy. A $2 million mansion may look gorgeous on the surface but might have toxic mold hiding beneath, which will require extremely pricey, lengthy repairs. On the other hand, a Mission fixer may look dilapidated but may have excellent bones and can be repaired at reasonable cost. Stipulate to your client that a certified professional home inspector must be contracted to check out a property before making a deal on it, to determine what repairs need to be done — so they can truly assess whether it’s worth it for them. Don’t rely solely on previous inspections, even if relatively recent – a vacant home can deteriorate quite a bit in a short time, especially in an area with climate extremes.
Don’t abandon common real-estate logic. Too many people, when shopping for a foreclosure, abandon their real-estate sense and focus on price alone. Remember, things like a sub-par location, poor light, terrible view, below-average school district, high local crime rate and other negatives might be part of the reason why a home went into foreclosure in the first place. Don’t assume that financial problems of the previous owner are the main reason for every foreclosure. The last owner may have bought the home ignoring some of the aforementioned problems, and seen value sink because of them. Don’t ignore those problems, especially if your client is considering selling in the next 5 to 10 years. Let your client know how long the home has been empty; the longer it has, the more of a chance this isn’t a good deal. Also, if there are plenty of other foreclosures nearby, that’s also a bad sign.
Skip – or, at least, very strongly rethink – the flip. “House-flipping,” i.e., buying at bargain-basement pricing, updating, then selling for much higher – is very 2006… and hasn’t exactly been hot since. Even if a house looks like an incredible flipping opportunity, beware of this temptation unless your client is a pro, with incredible contractor connections. Tell them to automatically triple the amount they think they’ll be spending to fix up the home. Clients should avoid the temptation to make fast money unless they think it through and talk to their real-estate professional, a home inspector, contractors – and possibly even a therapist!
Go over the budget. A fixer-upper means nothing if you can’t afford to fix it up – and that’s especially true for foreclosures, where those fixes can cost a pretty penny. Before buying, make sure your client has an ample budget to do all the repairs needed, after truly taking stock (with the help of a home inspector) of what those needs are. Make sure they have at least half of that money in cash, and preferably all of it. They don’t want to take more loans than needed, especially private loans, which shouldn’t be taking at all – the interest on them will, little by little, chip away at the initial foreclosure bargain.
Do your homework on lenders. Fewer people are getting financing for home-buying than they did before the recession, but good financing is luckily still available to many qualified buyers. Just make sure, as with regular home buying, that you enlist a reputable lender. A good lender will take the time to do a review of your client’s financial life and long- and short-term goals, to truly pick the best solution for them, rather than just spitting out options. Also ask about hidden costs, rate locks, prepayment penalties, origination fees and whether underwriting is done in-house. Make sure everything is explained to them clearly, and recommend that they review all of the answers with a real-estate attorney, who will also be able to check out the lender’s overall reputation. These are things that many people do during the standard home-buying process, but might gloss over when lured by a low foreclosure price tag.
See it in person. Finally, advise buyers never to buy a house without going in person to see it. Ever. Foreclosure or otherwise.
Dan Steward is president of, Pillar To Post Professional Home Inspections. For more information, visit www.pillartopost.com.
By Dan Steward - Copyright 2011 RISMedia - Reprinted with permission.
RISMEDIA, April 7, 2011—The economy is improving overall and, as a result, some bright spots are showing up in the real-estate market. However, the foreclosure spike, which began around the same time the recession did, isn’t a distant memory just yet. In many areas, foreclosures are still happening; in some areas, those numbers have increased. Surprisingly, foreclosures have even encroached into some key cities that were formerly thought to be unshakable real-estate markets — like San Francisco, where foreclosures actually rose in 2010 (including in luxury neighborhoods like Pacific Heights, where a condo that sold in 2007 for $2.3 million recently sold for $1.44 million as a foreclosure).
This “second wave” of foreclosures – combined with the fact that many people’s 401(k)s have bounced back with the stock market, and most economists agree that the bottom of the recession has hit – means that competition for these foreclosed homes is, in many cases, fierce. There’s a renewed, final dash to get in on what some perceive as the best real-estate deals they’ll get in awhile. But how do you know which foreclosure is a good buy, and which to walk by? Here are some tips to help guide your clients:
Get it checked out by a pro. Perhaps the most essential point: Never go by looks alone as an indicator of whether a foreclosure is a good buy. A $2 million mansion may look gorgeous on the surface but might have toxic mold hiding beneath, which will require extremely pricey, lengthy repairs. On the other hand, a Mission fixer may look dilapidated but may have excellent bones and can be repaired at reasonable cost. Stipulate to your client that a certified professional home inspector must be contracted to check out a property before making a deal on it, to determine what repairs need to be done — so they can truly assess whether it’s worth it for them. Don’t rely solely on previous inspections, even if relatively recent – a vacant home can deteriorate quite a bit in a short time, especially in an area with climate extremes.
Don’t abandon common real-estate logic. Too many people, when shopping for a foreclosure, abandon their real-estate sense and focus on price alone. Remember, things like a sub-par location, poor light, terrible view, below-average school district, high local crime rate and other negatives might be part of the reason why a home went into foreclosure in the first place. Don’t assume that financial problems of the previous owner are the main reason for every foreclosure. The last owner may have bought the home ignoring some of the aforementioned problems, and seen value sink because of them. Don’t ignore those problems, especially if your client is considering selling in the next 5 to 10 years. Let your client know how long the home has been empty; the longer it has, the more of a chance this isn’t a good deal. Also, if there are plenty of other foreclosures nearby, that’s also a bad sign.
Skip – or, at least, very strongly rethink – the flip. “House-flipping,” i.e., buying at bargain-basement pricing, updating, then selling for much higher – is very 2006… and hasn’t exactly been hot since. Even if a house looks like an incredible flipping opportunity, beware of this temptation unless your client is a pro, with incredible contractor connections. Tell them to automatically triple the amount they think they’ll be spending to fix up the home. Clients should avoid the temptation to make fast money unless they think it through and talk to their real-estate professional, a home inspector, contractors – and possibly even a therapist!
Go over the budget. A fixer-upper means nothing if you can’t afford to fix it up – and that’s especially true for foreclosures, where those fixes can cost a pretty penny. Before buying, make sure your client has an ample budget to do all the repairs needed, after truly taking stock (with the help of a home inspector) of what those needs are. Make sure they have at least half of that money in cash, and preferably all of it. They don’t want to take more loans than needed, especially private loans, which shouldn’t be taking at all – the interest on them will, little by little, chip away at the initial foreclosure bargain.
Do your homework on lenders. Fewer people are getting financing for home-buying than they did before the recession, but good financing is luckily still available to many qualified buyers. Just make sure, as with regular home buying, that you enlist a reputable lender. A good lender will take the time to do a review of your client’s financial life and long- and short-term goals, to truly pick the best solution for them, rather than just spitting out options. Also ask about hidden costs, rate locks, prepayment penalties, origination fees and whether underwriting is done in-house. Make sure everything is explained to them clearly, and recommend that they review all of the answers with a real-estate attorney, who will also be able to check out the lender’s overall reputation. These are things that many people do during the standard home-buying process, but might gloss over when lured by a low foreclosure price tag.
See it in person. Finally, advise buyers never to buy a house without going in person to see it. Ever. Foreclosure or otherwise.
Dan Steward is president of, Pillar To Post Professional Home Inspections. For more information, visit www.pillartopost.com.
Saturday, March 12, 2011
Updated Statistics to March 12, 2011
Statistics as reported by the MidFlorida Listing Service MLS to March 12, 2011
Number of Homes offered for sale: 5
Price range from $135,000 to $219,000
Average price per sq. ft. offered: $90.55
Number of Homes under contract: 2
Price range: $107,900 to $209,900
Price range per sq. ft.: $58.39 to $90.36
Homes sold from March 13, 2010 to March 12, 2011 : 14
Price range from $120,000 to $214,500
Average price per sq. ft. sold: $95.44
Average price of home sold: $162,024
Average days in the market: 114
Bank owned sold: 6
Short sales sold: 3
For homes sold from March 13, 2009 to March 12, 2010
Number of homes sold: 11
Average price per sq. ft. sold: $105.88
Average price of home sold: $182,409
Average days in the market: 86
Drop in sq. ft. sold in one year: 9.8%
Drop in price of home in one year: 11.2%
Prices are in the process of recovering and drops are not as pronounced as previously. Distressed sales account for 64% of all sales in this past year and are an influencing factor in setting market prices. Please feel free to contact me for further details whether selling or buying.
Saturday, February 5, 2011
Updated Statistics to February 6,2011
Statistics as reported by the MidFlorida Listing Service MLS to February 6. 2011
Number of Homes offered for sale: 5
Price range from $145,000 to $219,000
Average price per sq. ft. offered: $92.71
Number of Homes under contract: one
Price: $107,000
Price per sq. ft.: $58.39
Homes sold from Feb. 7, 2010 to Feb. 6, 2011 : 14
Price range from $120,000 to $214,500
Average price per sq. ft. sold: $95.44
Average price of home sold: $162,024
Average days in the market: 114
Bank owned sold: 6
Short sales sold: 3
For homes sold from Feb. 7, 2009 to Feb. 6, 2010
Number of homes sold: 11
Average price per sq. ft. sold: $105.88
Average price of home sold: $182,409
Average days in the market: 86
Drop in sq. ft. sold in one year: 9.9%
Drop in price of home in one year: 11.2%
Prices are in the process of recovering and drops are not as pronounced as previously.
Distressed sales account for 64% of all sales in this past year and are an influencing factor in setting market prices. Please feel free to contact me for further details whether selling or buying.
Number of Homes offered for sale: 5
Price range from $145,000 to $219,000
Average price per sq. ft. offered: $92.71
Number of Homes under contract: one
Price: $107,000
Price per sq. ft.: $58.39
Homes sold from Feb. 7, 2010 to Feb. 6, 2011 : 14
Price range from $120,000 to $214,500
Average price per sq. ft. sold: $95.44
Average price of home sold: $162,024
Average days in the market: 114
Bank owned sold: 6
Short sales sold: 3
For homes sold from Feb. 7, 2009 to Feb. 6, 2010
Number of homes sold: 11
Average price per sq. ft. sold: $105.88
Average price of home sold: $182,409
Average days in the market: 86
Drop in sq. ft. sold in one year: 9.9%
Drop in price of home in one year: 11.2%
Prices are in the process of recovering and drops are not as pronounced as previously.
Distressed sales account for 64% of all sales in this past year and are an influencing factor in setting market prices. Please feel free to contact me for further details whether selling or buying.
Sunday, January 2, 2011
How to Buy Low
(Excerpts of article written by Casey Spencer, real estate agent in Auburn, California, and adapted with permission.)
LOW offers need to be STRONG in other ways to win acceptance. This means:
1. "Cash is King." If you have access to cash, use it to obtain the lowest price. You have an advantage because the seller is not subjected to the financing contingency, that is, if your petition for a loan is not approved, the deal falls through. This, of course, is not the case in a cash transaction.
2. Most homes are bought with a mortgage, of course. Be sure to have your lender pre-qualify you . . . or better yet, get pre-approved by completing the entire application process prior to finding "The House."
To read full article click on http://www.benjaminrealtor.com/central/?How_to_Buy_Low
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