Last week buyers must have been out Christmas shopping instead of buying houses as just 5 properties went pending...typical this time of year. Having said that, I have seen a 56% increase in the number of contracts written since this same time 2 years ago. Prices per square foot have certainly come down, but more buyers are moving on the great deals and rates. More investors are entering the market again as well.

As the economy has been improving slightly during the fourth quarter of 2010, mortgage rates have risen from their all time low of 4.17%. Rates last week averaged 4.6% on a 30 year conventional mortgage, up from 4.4% last week.

We are still at 218 active listings, but I expect that to rise after the first of the year.

The pending sales were listed as follows:
2 - $100,000 - $199,999
3 - $200,000 - $299,999

ACTIVE LISTINGS: 218
PENDING SALES: 72
CLOSED SALES: 11/29/2010 - 12/5/2010

VACANT LAND
ACTIVE: 19
PENDING: 1
SOLD (1/1/2010 - 11/29/2010): 4
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750
1568 Eastin Avenue: $206,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Over the past two weeks we've had steady activity in College Park with 16 houses going under contract. Once again, most price ranges were represented. It's still slow going for many sellers, however, with so few buyers in price ranges over $200,000.

The pending sales were listed as follows:
3 - Under $100,000
6 - $100,000 - $199,999
2 - $200,000 - $299,999
2 - $300,000 - $399,999
1 - $400,000 - $499,999
1 - $600,000 - $699,999
1 lakefront house listed at $1,899,000 for $7,434 sq/ft (bank owned)

ACTIVE LISTINGS: 218
PENDING SALES: 77
CLOSED SALES: 11/15/2010 - 11/28/2010

VACANT LAND
ACTIVE: 19
PENDING: 1
SOLD (1/1/2010 - 11/29/2010): 4
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

1568 Eastin Avenue: $206,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Just when I thought I was done telling you that rates were the lowest they'd ever been in the history of tracking them, they came down even further! Last week rates on a 30 year conventional loan averaged 4.17%. Unfortunately the low rates aren't doing much to stimulate the national housing market. In the third quarter of this year the number of sales fell by 21% nationally. In contrast, here in College Park the number of closed transactions rose by 15.3% in Q3. Real estate is so local...what you hear on the news about the U.S. market as a whole doesn't always apply here. Call me anytime if you ever want to know more.

The end of year slow down continues with 6 pending sales last week and just 10 new listings.

The pending sales were listed as follows:
2 - Under $100,000
2 - $100,000 - $199,999
2 - $200,000 - $299,999

ACTIVE LISTINGS: 228
PENDING SALES: 73
CLOSED SALES: 11/8/2010 - 11/14/2010

VACANT LAND
ACTIVE: 18
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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 College Park market brought more steady activity last week, with 11 pending sales listed at $250,000 and under.

While it's typical to see our inventory dip at the end of the year, it's encouraging to see the number of active listings down to the lowest number in years. With the foreclosure fiasco with the banks right now, current sellers can reap the benefits of fewer distressed listings in competition with theirs, for the time being.

The pending sales last week were listed as follows:
4 - Under $100,000
4 - $100,000 - $199,999
3 - $200,000 - $299,999

7 of the 11 pending sales were either short sales of bank owned properties.

ACTIVE LISTINGS: 227
PENDING SALES: 74
CLOSED SALES: 11/1/2010 - 11/7/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week was a pretty decent one in the College Park market. Once again, we saw strong activity with the higher end listings. Rates remain historically low, averaging 4.23 last week. According to www.bankrate.com, however, two-thirds of industry experts expect rates to climb over the short term.

The pending sales last week were listed as follows:
1 - Under $100,000
1 - $100,000 - $199,999
2 - $200,000 - $299,999
3 - $300,000 - $399,999
2 - $400,000 - $499,999
1 listed at $850,000
Just 3 of the 10 pending sales were either short sales of bank owned properties.

ACTIVE LISTINGS: 231
PENDING SALES: 75
CLOSED SALES: 10/4/2010 - 10/24/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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 College Park market is sure showing some positive signs lately with more movement in the high end price ranges. We had a sale last week at $1,010,000 which was the third closing over a million dollars in the past year. While the closed sales have been slowing up over the past few weeks, the pending sales continue to hold strong. The short sales just take so long to close these days.

The pending sales since my last update were listed as follows:
7 - Under $100,000
10 - $100,000 - $199,999
3 - $200,000 - $299,999
2 - $400,000 - $499,999
1 listed at $529,900

15 of the 23 pending sales were either short sales of bank owned properties.

ACTIVE LISTINGS: 244
PENDING SALES: 72
CLOSED SALES: 10/4/2010 - 10/24/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Once again, we saw some pretty decent activity in College Park last week. With rates continuing hold at historic lows (4.32%, on average, for a 30 year conventional loan), qualified buyers are taking advantage of the lower prices. In fact, our sales for the year are up by 30% compared to the same time period last year. Unfortunately that doesn't mean prices are going up, just that more buyers are jumping into the market.

With all of the short sales out there, you would think that whole process would be getting easier, as the banks have been dealing with this mess for quite awhile now. It's actually getting worse. I've been so frustrated lately with my own short sale contracts. The banks I'm dealing with just can't seem to get it together. I thought I would do some research and, sure enough, it's taking 23% longer to get short sale deals to the closing table compared to this time last year. Go figure. The sad thing is buyers are starting to get fed up with the entire process and are trying to steer clear of those listings. The short sales that closed within the past 90 days took 107 days, on AVERAGE, to get from contract to close.

Last week in 32804 there were:
13 new listings
24 price reductions
7 pending sales

The pending sales were listed as follows:
1 - Under $100,000
5 - $100,000 - $199,999
1 - $200,000 - $299,999
Five of the seven pending sales were either short sales of bank owned properties.

ACTIVE LISTINGS: 244
PENDING SALES: 70
CLOSED SALES: 9/27/2010 - 10/3/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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 Country Club area saw some good activity last week, with contracts negotiated on three houses listed from $409,000 - $469,000. As for the rest of College Park, we saw activity on par with the past few weeks, which has been pretty good. Rates remained unchanged, stuck at an average of 4.37% on a 30 year conventional loan.

Last week in 32804 there were:
11 new listings
19 price reductions
10 pending sales

The pending sales were listed as follows:
1 - Under $100,000
5 - $100,000 - $199,999
1 - $300,000 - $399,999
3 - $400,000 - $499,999

ACTIVE LISTINGS: 247
PENDING SALES: 74
CLOSED SALES: 9/20/2010 - 9/26/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week brought great buyer activity in College Park. There were more pending sales than in the previous two weeks. Market activity was as follows:

11 new listings
19 price reductions
12 pending sales

The pending sales were listed between $37,500 - $319,00.

ACTIVE LISTINGS: 245
PENDING SALES: 72
CLOSED SALES: 9/13/2010 - 9/19/2010


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

We've entered the typical end-of-summer slow down in College Park with regard to buyer activity over the past two weeks:
20 new listings
32 price reductions
10 pending sales

The pending sales were listed as follows:
5 under $100K,
3 between $100-$200K
1 between $400-$500K
1 listed at $1,195,000!

I have to say, as much as I have been happy for my buyer clients who have gotten such great rates on their new mortgages, I was relieved to see that rates did not fall yet again last week. Hard not to worry about our economy with rates falling week after week. Average rates were up just a tad to 4.35% on a 30 year conventional loan...still amazing.

ACTIVE LISTINGS: 248
PENDING SALES: 67
CLOSED SALES: 8/30/2010 - 9/12/2010 (two week period)


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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 past two weeks have been very active in the College Park market;
14 new listings
34 price reductions
23 pending sales!

The pending sales were listed as follows:
14 under $200K,
5 between $200-$300K
3 between $300-$400K
1 listed at $859,000

I'm thrilled to see our inventory down to 238 active listings. We haven't seen that since the beginning of May. Our pending sales, year over year, have gone up 12.5% from July '09 - July-'10. Most of the buyers are still in the under 200K range, but a few have taken advantage of the great rates to purchase some of the higher end homes as well. College Park is still proving to be one of the stronger markets in the Orlando area.

For the 9th time in 10 weeks, mortgage rates have fallen. Last week rates averaged 4.36% on a 30 year conventional loan.

ACTIVE LISTINGS: 238
PENDING SALES: 77
CLOSED SALES: 8/16/2010 - 8/29/2010 (two week period)


VACANT LAND
ACTIVE: 22
PENDING: 2
SOLD (1/1/2010 - 8/29/2010): 3
Gerda Street: $162,000
620 Stetson: $155,000
717 Langston Court: $61,750

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 past two weeks have been pretty active in the College Park market;
21 new listings
39 price reductions
12 pending sales

The pending sales were listed as follows:
7 under $200K,
2 between $200-$300K,
2 between $300-$400K
1 listed at $995,000.

There are currently 63 pending sales in the 32804 zip code and 68% are listed under $200,000. Of the 63, 75% are short sales or bank owned properties.

Over the past few months high-end sales (over $500K) have picked up, always good to see. With rates this low and with the price declines we've seen, what a great time to buy. Some of my clients who have owned their homes for a long time, and have low mortgages, are choosing to hang onto their first homes as rentals and are moving up. The rental market is really strong right now, especially on properties that are in really good shape.

Speaking of low rates, for the 7th time in the past 8 weeks, mortgage rates have dropped. On average, borrowers were getting 30 year conventional mortgages at 4.44% last week. If you have equity in your home and want to refinance, average rates last week on a 15 year mortgage were 3.92%. Wow.

ACTIVE LISTINGS: 252
PENDING SALES: 63
CLOSED SALES: 8/2/2010 - 8/15/2010 (two week period)

VACANT LAND
SOLD: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 9 new listings, 18 price reductions and 7 properties that went under contract. The pending sales were listed from $89,900 through $550,000. One of my listings was in that mix, proving that properties priced properly, right out of the gate, will move fairly quickly. We were negotiated and under contract in 17 days.

Mortgage rates dropped AGAIN! Last week rates on a 30 year, conventional loan AVERAGED 4.54%. Buyers with great credit can do even better.

ACTIVE LISTINGS: 249
PENDING SALES: 67
CLOSED SALES: 7/26/2010 - 8/1/2010

VACANT LAND
ACTIVE: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 9 new listings, 27 price reductions and 8 properties that went under contract. One of the pending sales was listed at $579,900 (lakefront) and the others were under $225,000.

Once again, average rates on a 30 year conventional loan fell to record lows. Last week marks an almost 50 year low at 4.56%. Rates on a 15 year conventional loan were 4.03%, on average. Guidelines are tightening, however, making it more difficult for buyers to qualify. If you're a qualified buyer, it's a great time. On a $400,000 house with a 30 year conventional mortgage, a 1 point difference in your interest rate can mean $200 off of your monthly payment.

ACTIVE LISTINGS: 248
PENDING SALES: 69
CLOSED SALES: 7/19/2010 - 7/25/2010

VACANT LAND
ACTIVE: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 16 new listings, 23 price reductions and 6 properties that went under contract. 2 of the pending sales were in the mid to upper 300k range, and the others were under $159,000. Average mortgage rates remained at 4.57% last week on a 30 year conventional loan.

ACTIVE LISTINGS: 247
PENDING SALES: 69
CLOSED SALES: 7/12/2010 - 7/18/2010

VACANT LAND
ACTIVE: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Looks like a lot was going on in the 32804 while I was on vacation! There were some encouraging sales posted...nice to see something sell over $1 million. It's been awhile since we've seen that in College Park.

Just when you thought rates couldn't get any lower, they did. Average rates on a 30 year conventional loan were the lowest they've been in the history of tracking rates, rounding out at 4.57% last week. The qualified buyers out there are hopefully realizing these low rates, combined with the decline in values over the past year, make it a great time to buy.

Over the past two weeks in the College Park market there were 29 new listings, 34 price reductions and 18 properties that went under contract. Of the pending properties, 16 were listed under $220,000, 1 at $310,000 and another at $449,000.

ACTIVE LISTINGS: 245
PENDING SALES: 71
CLOSED SALES: 6/28/2010 - 7/11/2010 (2 week period)


VACANT LAND
ACTIVE: 28
PENDING: 2
SOLD (1/1/2010 - 7/11/2010): 2
Gerda Street: $162,000
620 Stetson: $155,000

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

I will be on vacation next week, so check in on the 12th for a two week update.

Last week in the College Park market there were 11 new listings, 17 price reductions and 9 properties that went under contract. One of the pending sales was listed at $545,000 and the remaining 8 were under $225,000.

Average mortgage rates last week were the lowest they've been since the tracking of rates began back in 1971, down to 4.69%!! Even with the low rates, we are now seeing a decrease in the number of pending sales with the expiration of the tax credit. Rates are predicted to remain low, so hopefully we will stay the course at a steady pace and continue to work through our inventory.

ACTIVE LISTINGS: 244
PENDING SALES: 74
CLOSED SALES: 6/21/2010 - 6/27/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 10 new listings, 19 price reductions and 6 properties that went under contract. Four of those that went pending were priced under $150,000, but two were lakefront listings priced at $899,000 and $1,495,000.

With prices stabilizing, we continue to see a higher number of sales compared with this time last year. Year to date there have been 116 closed sales, compared to this same time period in '09 when there were only 73. The chart below shows that the predictions are on track, taking us back to 2002 prices per sq/ft.



Average mortgage rates remain under 5%

ACTIVE LISTINGS: 243
PENDING SALES: 76
CLOSED SALES: 6/14/2010 - 6/20/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 12 new listings, 21 price reductions and 10 properties that went under contract. The pending activity was in the price range of $49,900 - $299,900.

Average mortgage rates fell to just a tad above the all time low back in December. Average rates on a 30 year conventional mortgage ran at 4.72% and 4.17% on a 15 year.

I just ran some new numbers to see how our inventory is looking compared to other parts of town. Here is what's going on as far as the amount of active listings that are distress sales (short sales and bank owned properties). College Park is still stacking up fairly well in comparison with other areas. This does not, however, account for the properties that are in foreclosure that are not listed for sale in the MLS. Let me know if you're curious about another area not listed.



ACTIVE LISTINGS: 240
PENDING SALES: 77
CLOSED SALES: 6/7/2010 - 6/13/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 8 new listings, 18 price reductions and 12 properties that went under contract. Most every price point saw pending activity with list prices from $44,000 - $790,000.

Rates rose a bit to an average of 4.79% on a 30 year conventional mortgage but fell to 4.2% on a 15 year mortgage. Good time to refinance if you have at least 20% equity.

ACTIVE LISTINGS: 239
PENDING SALES: 75
CLOSED SALES: 5/31/2010 - 6/6/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 15 new listings, 23 price reductions and 10 properties that went under contract. The pending sales ranged from $99,000 - $555,000.

So what is the state of the market in College Park? Well, people are still buying, but they want the deals and they are getting them. Our buyer activity has remained steady, as has our lower inventory. Unfortunately, many sellers are not seeing the gift of the sale because their prices are still too high. Believe me, as a long time College Park homeowner, it's been very painful to watch.

Consider this, from January through April, the average LIST PRICE of College Park houses was $361,000, compared to the average SALE PRICE which was $221,000. In addition, the average property in College Park is selling for 79% of the original list price. In a declining market, with every month that passes, the house is worth less than when the listing first came on the market. If you or someone you know is contemplating a sale, it is more important than ever to price the property based on an accurate market analysis right from the start. With every month that passes, hoping for more than the house is worth will cost money in the long run as values are still declining.

The good news is that there are buyers out there taking advantage of these crazy low rates, so if a house is priced right, it will sell.

Rates fell last week, again, to an average of 4.78% on a 30 year conventional mortgage.

ACTIVE LISTINGS: 248
PENDING SALES: 71
CLOSED SALES: 5/24/2010 - 5/30/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 12 new listings, 25 price reductions and 8 properties that went under contract. The pending sales were comprised of a 3,300 square foot house listed at $315,000 and seven listed in the low 200s or below.

Rates fell last week to an average of 4.84% on a 30 year conventional mortgage. Unfortunately this is due to the further deterioration of the global economy, however, it is keeping buyer activity going. Read more here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=240083

ACTIVE LISTINGS: 245
PENDING SALES: 74
CLOSED SALES: 5/17/2010 - 5/23/2010

VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

These past few weeks my phone has been ringing off the HOOK with people looking for a nice place to rent in College Park. If you know anyone moving who is considering renting out their house, now is the time.

Last week in the College Park market there were 8 new listings, 29 price reductions and 5 properties that went under contract. Of those five, four were listed under $200,000 and the other was listed at $445,900.

If you didn't see the Orlando Sentinel on Sunday, Orlando is ranked number 3 in the nation for the number of people underwater in their mortgage. Keep in mind, that includes ALL of Orlando. Areas like College Park aren't quite as affected. Having said that, at this time there are 215 active foreclosure filings in the 32804 zip code and 38 of them are either Active or Pending listings in MLS. This does not include homeowners who are in default with foreclosure notices yet to be filed. So we still have a way to go until we stabilize, but some parts of town are much worse.

ACTIVE LISTINGS: 247
PENDING SALES: 72
CLOSED SALES: 5/10/2010 - 5/16/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week 7 properties went pending in the 32804 zip code. Six were listed under $100,000 and one for $299,000. While things will slow down now that the home buyer tax credit has expired, I am hoping for a push in early summer as most families wait to move until school gets out.

Average rates were back down last week to 5% on a 30 year conventional mortgage. Rates on a 15 year were 4.36%, on average.

ACTIVE LISTINGS: 245
PENDING SALES: 80
CLOSED SALES: 5/3/2010 - 5/9/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week buyers rushed to get in on the buyer tax credit, putting contracts on 16 homes in College Park. There will be no extension this time, except for those having recently served overseas in the military. They have one more year.

In case you missed the article in today's paper about what's to become of the Amway Arena, check it out:
http://www.orlandosentinel.com/news/local/breakingnews/os-magic-arena-church-20100428,0,480709.story
Some of the proposals include a Mega Church and also a Creative Village, attracting companies working in film and television production, video game software and simulation, special effects, art, graphics and more. In my opinion, the latter would be a boost to College Park real estate as the employees of these companies move here looking for places to live close to work.

Average rates last week remained just above 5% on a 30 year conventional mortgage (5.06%) and were 4.39% on a 15 year.

ACTIVE LISTINGS: 238
PENDING SALES: 83
CLOSED SALES: 4/26/2010 - 5/2/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

I've been getting asked a lot lately what the average selling price is, per square foot, in College Park. I've said before, I hate throwing that number around because price per square foot only applies to homes with similar square footage and condition. College Park is now selling at $125 per sq/ft on AVERAGE. Let me know if you would like to know more specific numbers pertaining to your particular property.

Here is a look at how the average price per square foot has fallen and fluctuated since the peak, May of '07:


Last week buyers put contracts on 10 properties in College Park. 9 were listed under $250,000 and one for $299,000.

Rates are still low, staying even at 5.07% on average for a 30 yr. fixed rate, conventional loan, and 4.39% on a 15 year.

ACTIVE LISTINGS: 252
PENDING SALES: 80
CLOSED SALES: 4/19/2010 - 4/25/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Things have slowed down a tad with regard to pending sales as we inch closer to the deadline for the buyer tax credits on April 30th. In the past two weeks we've seen 14 properties go under contract, in contrast with 20 in one week three weeks ago. On a positive note, I have found that in the last 6 months the average sales price in College Park has risen from $203,00 - $260,000. It sure is encouraging to see some of the higher priced listings move.

Our inventory has inched up a bit to 250 active residential listings for sale in College Park. There are some great new listings that have hit the market in the past few weeks, if you know anyone contemplating a purchase.

ACTIVE LISTINGS: 250
PENDING SALES: 78
CLOSED SALES: 4/5/2010 - 4/18/2010 (2 week period)


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 4/18/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market 20 homes went pending. The majority were listed under $150,000 (14), four between $150K - $208K and then one each in the high three and four hundred range. Seven were short sale duplexes all owned by the same person, so an investor must have snatched those up. We had 17 new listings last week, so our inventory remains pretty steady, with 246 active residential listings for sale in 32804.

Rates are finally over 5%, as was predicted. According to Bankrate.com, 69% of industry experts predict rates to continue to rise.

ACTIVE LISTINGS: 246
PENDING SALES: 87
CLOSED SALES: 3/30/2010 - 4/4/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 3/30/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market 12 homes went pending. Prices were all over the place ranging from $59,900 - $699,900. We are seeing a steady stream of buyers making offers, in fact, February posted the highest number of pending sales in the past 2 years.

Last week there were 8 closed sales posted. If you're curious, here is a breakdown of the average time it takes to close a sale:
Short Sales: 90 days
Bank Owned: 38 days
Regular Sales: 32 days
As you can imagine, short sales are the most trying on the patience of everyone involved.

ACTIVE LISTINGS: 249
PENDING SALES: 77
CLOSED SALES: 3/22/2010 - 3/29/2010


VACANT LAND
ACTIVE: 30
PENDING: 1
SOLD (1/1/2010 - 3/30/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market buyers were busy putting offers on 11 homes. Eight were listed under $200,000, two were in the $200Ks and one listed at $469,000. 7 of the 11 were either bank owned or short sales.

I know I sound like a broken record, but rates are still averaging under 5%. The government will stop purchasing mortgage backed securities on March 31st, so rates are predicted to rise after that. I guess they can't stay this low forever!

ACTIVE LISTINGS: 255
PENDING SALES: 73
CLOSED SALES: 3/15/2010 - 3/21/2010


VACANT LAND
ACTIVE: 28
PENDING: 1
SOLD (1/1/2010 - 3/15/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market 9 properties went pending priced from $47,500 - $182,500. Two were bank owned, one was a short sale and the others were "normal" listings. Still not a lot of activity in the higher end bracket. In the past two weeks there have just been two houses that have gone under contract in the 300-400K price range. Everything else has been in the 200s or below. The chart below shows the average price of what has been for sale in College Park vs. the average price of what has been selling over the past year. For the higher end sellers, patience is the name of the game right now.


Our inventory remains at 255 listings (54 are condos). There are 73 pending sales and 66% of those are short sales or bank owned properties.

Average mortgage rates remain under 5% dropping slightly last week to 4.95% on a conventional 30 year fixed rate loan and 4.32% on a 15 year.

ACTIVE LISTINGS: 255
PENDING SALES: 73
CLOSED SALES: 3/8/2010 - 3/14/2010


VACANT LAND
ACTIVE: 28
PENDING: 1
SOLD (1/1/2010 - 3/15/2010): 0

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week was another busy one in the College Park real estate market with offers accepted on 12 properties. Eleven were listed under $250,000 and one at $389,000. Still seeing the majority of our movement in that under $250K price range as first time home buyers enter the market.

Rates averaged under under 5% again last week with 4.97% on a 30 year conventional loan and 4.33% on a 15 year.

Active Listings: 255
Pending Sales: 67
Closed Sales: 3/1/2010 - 3/7/2010

So is the home buyer tax credit working? As for our state, and the nation as a whole, not so much. Numbers across the board are not what the government was hoping to see with regard to the credit having a large impact on the housing market. With the unemployment rate still as low as it is, it's just not enough. You can read more here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=234302

Here in College Park, however, year over year we have seen some improvement. We closed 23 sales in Jan/Feb of this year compared to 15 in Jan/Feb of 2009. Prices have come down, however, with the median price in '09 at $199,900 and this year we are at a median price of $160,000, for the same time period. College Park is such a desirable place to live, so we are definitely faring better than many areas in the Central Orlando area.

Here are our year over year numbers. While we still have a way to go, things have definitely improved over last year.


This past week 12 homes went pending in 32804 and there were 5 closed sales. Rates are still low, so there's no denying this is a good time to buy if you can.

Active Listings: 249
Pending Sales: 62

Closed Sales: 2/22/10 - 2/28/10

Not a lot of activity last week in the College Park market. Six homes went pending priced between $79,900 - $245,900 and there were two closed sales (below). There are some properties out there that could bring positive cash flow right now as rentals if you know anyone looking to invest.

Rates remain under 5%, falling to an average of 4.93% last week on a 30 year fixed rate loan.

ACTIVE LISTINGS: 248
PENDING SALES: 62
CLOSED SALES: 2/15/2010 - 2/21/2010

Last week in the College Park market 11 properties went under contract, mainly priced under $200K but two were priced over $800,000. We are still seeing steady activity as buyers capitalize on the Home Buyer Tax Credit. Predictions are that sales will drop off after the April 30th deadline, so if you or anyone you know is considering selling anytime soon, this would be a good time!

Average rates remain under 5%, dropping slightly last week to 4.97% on a 30 year fixed and 4.34% on a 15 year mortgage.

Many home owners are facing the possibility of foreclosure right now. If you know anyone in this situation, have them contact me for a confidential consultation. Short sales are having less of an impact on credit scores than full blown foreclosures and many people don't understand the ins and outs of the entire process. Short sales are making up a large part of my business right now and I would be happy to share my experience with anyone trying to determine their best path.

ACTIVE LISTINGS: 240
PENDING SALES: 59
CLOSED SALES: 2/1/10 - 2/14/10

Last week in the College Park market 8 properties went pending priced from $29,900 - $210,000. 7 of the 8 were short sales.

I'm glad to see our inventory staying relatively low. We still have about a 21 month supply of homes for sale, however, at certain times last year we were running between a 30-40 month supply, so things are improving. In a balanced market there would be a 6 month supply of homes for sale. We still have a way to go, but we are headed in the right direction.

Average mortgage rates stayed pretty flat last week only dropping slightly to 4.98% on a conventional 30 year fixed rate loan and 4.39% on a 15 year.

ACTIVE LISTINGS: 238
PENDING SALES: 53
CLOSED SALES: 1/25/2010 - 1/31/2010

SS = Short Sale BO = Bank Owned

VACANT LAND
ACTIVE: 28
PENDING: 1
SOLD (1/1/2009 - 12/31/2009): 5
848 TIMOR AVE: $23,000
723 EDGEWATER DR: $63,900
930 OAK ST: $250,000 (107 X 140 LOT)
1716 FAIRVIEW SHORES DR: $295,000 (lakefront)
2614 WESTMORELAND DR: $350,000 (lakefront)

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 10 properties that went pending, priced from $139,900 - $574,900. Most Realtors I spoke with are seeing an increase in activity, including myself. I received contracts on 6 of my listings this week!

Average mortgage rates fell again last week to 4.99% on a conventional 30 year fixed rate loan and 4.4% on a 15 year. Low rates, along with the extension of the home buyer tax credit are definitely stimulating the market.

ACTIVE LISTINGS: 235
PENDING SALES: 53
CLOSED SALES: 1/18/2010 - 1/24/2010


VACANT LAND
ACTIVE: 25
PENDING: 0
SOLD (1/1/2009 - 12/31/2009): 5
848 TIMOR AVE: $23,000
723 EDGEWATER DR: $63,900
930 OAK ST: $250,000 (107 X 140 LOT)
1716 FAIRVIEW SHORES DR: $295,000 (lakefront)
2614 WESTMORELAND DR: $350,000 (lakefront)

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week in the College Park market there were 3 properties that went pending, priced from $160,000 - $359,000, and 5 closed sales. Two of the closed sales were short sales. One took 2 months from contract to close and the other 3, just to give you an idea of the time frames we are seeing. Complicated short sales (homes with multiple mortgages) can take much longer, however.

If you, or someone you know, is looking to take advantage of the Home Buyer Tax Credit and they are interested in a short sale, now is the time to start looking to get something under contract. The deadline for having a property under contract is April 30th and the closing must take place by June 30th. These short sales are so unpredictable and it would be such a shame to miss out on that tax credit if things got held up with the bank. For more information, here is a great site that explains the qualifications and more: www.federalhousingtaxcredit.com

Average mortgage rates fell a bit last week to 5.06% on a conventional 30 year fixed rate loan and 4.45% on a 15 year. Most experts are predicting rates to stay pretty level for the next 30-45 days, with only a slight increase possible.

# of ACTIVE LISTINGS: 236



Recent Closed Sales 1/11/2010 - 1/17/2010 :


# of PENDING LISTINGS: 49

VACANT LAND
ACTIVE: 25
PENDING: 0
SOLD (1/1/2009 - 12/31/2009): 5
848 TIMOR AVE: $23,000
723 EDGEWATER DR: $63,900
930 OAK ST: $250,000 (107 X 140 LOT)
1716 FAIRVIEW SHORES DR: $295,000 (lakefront)
2614 WESTMORELAND DR: $350,000 (lakefront)

The above numbers for College Park Update come from single family homes, condos and land listed in the MLS in the 32804 zip code.

Last week's activity in the College Park market was quite positive. Eight properties went under contract and three were priced at 399K and above. We have been seeing more movement recently in the $3000,000 - $500,000 price range.

There has been an increase in the percentage of distressed listings (short sales and bank owned) in pretty much all zip codes. College Park is still stronger than most, inching ahead of Windermere by 1% as of today. That's not to say that next week it could all change, but at this time we take the number two spot for market strength in the following zip codes with regard to number of active listings listed as short sales or bank owned:



Last week there was one closed sale:
3601 Dubsdread Cir: 2/1 - 1214 sq/ft - $140,000 *BO
BO = Bank Owned

Rates averaged 5.09% last week on a 30 year fixed rate conventional mortgage and 4.5%on a 15 year.

There are currently 241 active listings in 32804 and 51 pending sales.

Happy New Decade! I know many are glad to see 2009 in the rear view mirror, so here's wishing you and yours a healthy and prosperous 2010!

I thought I would take this opportunity to reflect on what we saw here in College Park this past year and how it compares to years past. I have read many predictions that when prices get back to those of 2003, we will know we've hit bottom. Again, these are just predictions, but if they are close we have reason to feel hopeful. When you compare our recent activity to that of 2003 (below), we are pretty dead on. We may have a little further to go, but we have to be getting close. Prices will most likely drop in the higher price ranges this year, but homes in the lower bracket should be close to bottoming out. It is possible that as the higher priced homes fall, the lower end could slide a bit futher, but not much. These predictions are not only based on what is going on in College Park, but also the Florida and National statistics that I follow.

When reviewing the following charts, please keep in mind that the sold activity represents MEDIAN price ranges, half were lower and half were higher. In other words, these numbers don't just plug in to any square footage amount, etc. As real estate is not apples to apples, let me know if you would like a deeper breakdown on your particular property.

We begin 2010 with 245 active listings, 197 of which are single family homes.


SOLDS 12/28/09 - 1/3/2010
2305 Edgewater Dr. #1504: 1/1 - 911 sq/ft - $116,000 (Short Sale)