Last week two higher end houses went under contract that I've been watching for awhile here in College Park. Both were exceptional, one on a golf course and one on a lake. I'll admit, I've coveted both of them just slightly...they're both great houses. Both have been listed for quite some time and deep down I knew what list price they would both need to get to before they got an offer, however, I was hoping they would be able to sell for more. Sure enough, the price reductions came, and came again, until finally they were at the point where a buyer was ready to snag "the deal".
That's just how it is out there right now. Buyers are waiting and watching, and not ready to make a move until they feel they are getting a great deal. They know they can, and they are.
Rates ended the week averaging at 5.42% on a 30 year fixed rate and 4.87% on a 15 year.
CLOSED SALES: 6/22/2009 - 6/28/2009
521 GREELY ST: 4/2/1 - 2,884 sq/ft - $525,000
1408 SHADY LANE DR: 2/1 - 1,024 sq/ft - $135,000 *SS
4212 GRANT BLVD: 3/3 - 2,081 sq/ft - $279,000 *BO
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/22/2009 - 6/28/2009
New Listings: 7
Pending Sales: 5
Price Reductions: 22
PRESENTLY ON THE MARKET: 6/29/2009
Active Listings: 279
Under 100K: 9
100K - 199,999: 74
200K - 299,999: 69
300K - 399,999: 51
400K - 499,999: 16
500K - 599,999: 20
600K - 699,999: 16
700K - 799,999: 5
800K - 899,999: 4
900K - 999,999: 6
Over $1,000,000: 9
Total Pending Sales: 45
VACANT LAND:
ACTIVE: 30
PENDING: 1
SOLD (YTD 6/15/09): 1
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
Monday, June 29, 2009
Monday, June 22, 2009
Activity in the College Park real estate market was pretty slow last week, with just one property going under contract. Could it be that it was too darn hot to go looking at houses?!
The percentage of active listings here in College Park that are in distress has risen to 18%, however that's still better than in many areas. In Baldwin Park, 25% of their active listings are distress sales, Windermere is at 20% and Maitland at 30%. The only area significantly lower than College Park is Winter Park (32789) at 11%.
The percentage of active listings here in College Park that are in distress has risen to 18%, however that's still better than in many areas. In Baldwin Park, 25% of their active listings are distress sales, Windermere is at 20% and Maitland at 30%. The only area significantly lower than College Park is Winter Park (32789) at 11%.
Of the pending sales right now in 32804, 70% are listed under $250,000 and 64% are distress sales.
Rates ended the week down slightly from the week before. Average rates on a 30 year fixed were 5.38% and 4.89% on a 15 year.
CLOSED SALES: 6/15/2009 - 6/21/2009
727 W FAIRBANKS AVE: 2/1 - 1,150 sq/ft - $76,000 *BO
225 E NEW HAMPSHIRE ST #9: 2/1 - 572 sq/ft - $55,000 *BO
1015 EASTERN WAY: 3/1/1 - 1,015 sq/ft - $250,000
3411 BACKSPIN LN: 3/2 - 1,590 sq/ft - $90,000 *BO
1017 VASSAR ST: 3/2 - 1,454sq/ft - $260,000
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/15/2009 - 6/21/2009
New Listings: 8
Pending Sales: 1
Price Reductions: 21
PRESENTLY ON THE MARKET: 6/22/2009
Active Listings: 284
Under 100K: 11
100K - 199,999: 67
200K - 299,999: 72
300K - 399,999: 47
400K - 499,999: 16
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 4
900K - 999,999: 6
Over $1,000,000: 11
Total Pending Sales: 44
VACANT LAND:
ACTIVE: 30
PENDING: 1
SOLD (YTD 6/15/09): 1
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
Monday, June 15, 2009
I had a request to add a vacant land category to College Park Update, so I am happy to oblige! I will update that every month or so as there really isn't a lot of activity. Just to give you an idea of the market change, from January of '05 through December of '06 there were 21 vacant land sales. You can view this year's activity at the bottom of this page.
The number of active listings in 32804 continues to decline, a very good thing for our market.
Average mortgage rates are the highest they've been in 7 months, ending the week at 5.59% on a 30 year fixed and 5.06% on a 15 year. Still not horrible, historically speaking.
CLOSED SALES: 6/8/2009 - 6/14/2009
905 W SMITH ST: 2/2 - 1,139 sq/ft - $173,000
1105 YATES ST: 2/1 - 904 sq/ft - $178,500
209 W HAZEL ST: 3/1 - 1,370 sq/ft - $140,000 *SS
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/8/2009 - 6/14/2009
New Listings: 9
Pending Sales: 6
Price Reductions: 22
PRESENTLY ON THE MARKET: 6/15/2009
Active Listings: 279
Under 100K: 11
100K - 199,999: 67
200K - 299,999: 72
300K - 399,999: 47
400K - 499,999: 16
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 4
900K - 999,999: 6
Over $1,000,000: 11
Total Pending Sales: 48
VACANT LAND:
ACTIVE: 30
PENDING: 1
SOLD (YTD 6/15/09): 1
Not a lot of activity with vacant land in College Park. Of the 29 listings, 4 are zoned R-2, 4 are lakefront and 3 are short sales. The lot that is pending is listed at $64,900 and is on Edgewater Drive. The lot that sold was a lakefront lot on Lake Fairview that sold back in March for $295,000.
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
The number of active listings in 32804 continues to decline, a very good thing for our market.
Average mortgage rates are the highest they've been in 7 months, ending the week at 5.59% on a 30 year fixed and 5.06% on a 15 year. Still not horrible, historically speaking.
CLOSED SALES: 6/8/2009 - 6/14/2009
905 W SMITH ST: 2/2 - 1,139 sq/ft - $173,000
1105 YATES ST: 2/1 - 904 sq/ft - $178,500
209 W HAZEL ST: 3/1 - 1,370 sq/ft - $140,000 *SS
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/8/2009 - 6/14/2009
New Listings: 9
Pending Sales: 6
Price Reductions: 22
PRESENTLY ON THE MARKET: 6/15/2009
Active Listings: 279
Under 100K: 11
100K - 199,999: 67
200K - 299,999: 72
300K - 399,999: 47
400K - 499,999: 16
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 4
900K - 999,999: 6
Over $1,000,000: 11
Total Pending Sales: 48
VACANT LAND:
ACTIVE: 30
PENDING: 1
SOLD (YTD 6/15/09): 1
Not a lot of activity with vacant land in College Park. Of the 29 listings, 4 are zoned R-2, 4 are lakefront and 3 are short sales. The lot that is pending is listed at $64,900 and is on Edgewater Drive. The lot that sold was a lakefront lot on Lake Fairview that sold back in March for $295,000.
The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.
Monday, June 8, 2009
Orlando Leisure Magazine just put out a report naming the "Hot Zones" in Orlando real estate. They identified the top 25 zip codes based on appreciation, average price and sales volume from 2000-2008. Their research put College Park at number 5 on the list! Not too shabby I'd say. We were just under Windermere. Check out the entire article, it's a good one: http://ohlmag.com/article_zipcodes.html
Average mortgage rates are up over 5% for the first time in 3 months to 5.29% on a 30 year fixed.
CLOSED SALES: 6/1/2009 - 6/7/2009
1019 MEADOWS AVE: 3/2 - 1,731 sq/ft - $165,000
976 W FAIRBANKS AVE: 3/2 - 1,055 sq/ft - $124,999
714 PUTNAM AVE: 2/1 - 846 sq/ft - $97,125 *BO
808 W NEW HAMPSHIRE ST: 4/3/1 - 3,145 sq/ft - $550,000
735 FAIRBANKS AVE: 3/2 - 1,510 sq/ft - $180,000 *SS
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/1/2009 - 6/7/2009
New Listings: 7
Pending Sales: 7
Price Reductions: 22
PRESENTLY ON THE MARKET: 6/8/2009
Active Listings: 282
Under 100K: 11
100K - 199,999: 61
200K - 299,999: 78
300K - 399,999: 50
400K - 499,999: 15
500K - 599,999: 19
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 5
900K - 999,999: 7
Over $1,000,000: 11
Total Pending Sales: 47
The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.
Average mortgage rates are up over 5% for the first time in 3 months to 5.29% on a 30 year fixed.
CLOSED SALES: 6/1/2009 - 6/7/2009
1019 MEADOWS AVE: 3/2 - 1,731 sq/ft - $165,000
976 W FAIRBANKS AVE: 3/2 - 1,055 sq/ft - $124,999
714 PUTNAM AVE: 2/1 - 846 sq/ft - $97,125 *BO
808 W NEW HAMPSHIRE ST: 4/3/1 - 3,145 sq/ft - $550,000
735 FAIRBANKS AVE: 3/2 - 1,510 sq/ft - $180,000 *SS
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 6/1/2009 - 6/7/2009
New Listings: 7
Pending Sales: 7
Price Reductions: 22
PRESENTLY ON THE MARKET: 6/8/2009
Active Listings: 282
Under 100K: 11
100K - 199,999: 61
200K - 299,999: 78
300K - 399,999: 50
400K - 499,999: 15
500K - 599,999: 19
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 5
900K - 999,999: 7
Over $1,000,000: 11
Total Pending Sales: 47
The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.
Monday, June 1, 2009
Last week was pretty quiet with regard to activity in 32804, but it was a great one for 3 of my clients.
I got a contract on a new listing the first week it was listed. Proof positive that if you are ahead of your competition with regard to price and condition, the odds are in your favor.
I got a short sale closed on one of my listings that took 3 months from contract to close. Thank goodness the buyer was patient and the sellers recognized how much better a short sale would be on their credit vs. foreclosure, so they were exceptionally cooperative in getting the necessary paperwork together, etc. The buyer got a great deal and the seller gets to move on with their life.
I was also able to help a first time home buyer negotiate a great deal on a house here in College Park. He recognized the fact that in this market you really can't over pay for a house with values continuing to fall. He did not get emotionally attached and walked away from negotiations on another house with less motivated sellers. He's so excited to get rooted in our great neighborhood!
Interest rates rose last week but still remain under 5%.
CLOSED SALES: 5/25/2009 - 5/31/2009
537 W WINTER PARK ST: 3/2 - 1,475 sq/ft - $120,000 *BO
1326 W PRINCETON ST: 2/1 - 1,024 sq/ft- $205,000 *SS
19 E PRESTON ST: 3/2 - 1,236 sq/ft - $230,000
2106 HARRISON AVE: 4/3 - 2,070 sq/ft - $420,000
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 5/25/2009 - 5/31/2009
New Listings: 9
Pending Sales: 4
Price Reductions: 14
PRESENTLY ON THE MARKET: 5/31/2009
Active Listings: 291
Under 100K: 11
100K - 199,999: 60
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 5
900K - 999,999: 7
Over $1,000,000: 10
Total Pending Sales: 44
The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.
I got a contract on a new listing the first week it was listed. Proof positive that if you are ahead of your competition with regard to price and condition, the odds are in your favor.
I got a short sale closed on one of my listings that took 3 months from contract to close. Thank goodness the buyer was patient and the sellers recognized how much better a short sale would be on their credit vs. foreclosure, so they were exceptionally cooperative in getting the necessary paperwork together, etc. The buyer got a great deal and the seller gets to move on with their life.
I was also able to help a first time home buyer negotiate a great deal on a house here in College Park. He recognized the fact that in this market you really can't over pay for a house with values continuing to fall. He did not get emotionally attached and walked away from negotiations on another house with less motivated sellers. He's so excited to get rooted in our great neighborhood!
Interest rates rose last week but still remain under 5%.
CLOSED SALES: 5/25/2009 - 5/31/2009
537 W WINTER PARK ST: 3/2 - 1,475 sq/ft - $120,000 *BO
1326 W PRINCETON ST: 2/1 - 1,024 sq/ft- $205,000 *SS
19 E PRESTON ST: 3/2 - 1,236 sq/ft - $230,000
2106 HARRISON AVE: 4/3 - 2,070 sq/ft - $420,000
*SS - Short Sale
*BO - Bank Owned
OTHER MARKET ACTIVITY: 5/25/2009 - 5/31/2009
New Listings: 9
Pending Sales: 4
Price Reductions: 14
PRESENTLY ON THE MARKET: 5/31/2009
Active Listings: 291
Under 100K: 11
100K - 199,999: 60
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 20
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 5
900K - 999,999: 7
Over $1,000,000: 10
Total Pending Sales: 44
The above numbers come from single family homes and condos listed in the MLS in the 32804 zip code. Please contact me for more specific information, or for statistics on commercial property or vacant land.
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