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.
