College Park Update

2011-08-30T08:42:00.001-07:00

We are down to 155 homes for sale in the 32804 zip code. Ever shrinking, our inventory hasn't been this low since February of 2006. While the number of closed sales is down, pending sales are up significantly. Put it all together and you have signs of strength in the College Park market.

ACTIVE LISTINGS: 155
PENDING SALES: 100
CLOSED SALES: 6/27/2011 - 8/30/2011

VACANT LAND
ACTIVE: 15
PENDING: 0
SOLD (1/1/2011 - 8/30/2011): 5
0 Niblick Way: $45,000
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)
222 Orlando Street: $205,000

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

2011-06-28T06:20:00.001-07:00

Inventory in College Park is the lowest it's been since 2006. This means good news for sellers with properties in good condition and priced right...those are flying off the shelves. There were a few listings that sold this month that were only on the market about 2 weeks because they had nice manicured yards, were in good condition (move in ready), and were priced in line with market values. So if that's your case, then yes, it's a good time to sell. Average rates are still down around 4.5%.

ACTIVE LISTINGS: 184
PENDING SALES: 79
CLOSED SALES: 6/1/2011 - 6/26/2011

VACANT LAND
ACTIVE: 13
PENDING: 1
SOLD (1/1/2011 - 6/15/2011): 3
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)

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

2011-06-15T07:08:00.000-07:00

Here in College Park I suppose you could say things are looking positive in many ways. Our inventory is still low, our pending sales are up over last year and our average sold price per square foot has remained the same, year over year. The uncertainty lies within the number of foreclosures lingering out there. At this time, 25% of the active listings in the 32804 zip code are either bank owned or short sales. Windermere and Winter Park have seen this percentage decline, hopefully we will follow suit shortly.

ACTIVE LISTINGS: 193
PENDING SALES: 77

VACANT LAND
ACTIVE: 13
PENDING: 1
SOLD (1/1/2011 - 6/15/2011): 3
550 Clayton Street: $72,000
534 w. Yale Street: $160,000
4036 Anchor Way: $302,500 (Lakefront-Lk. Fairview)

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

2011-03-07T11:40:00.000-08:00

Our inventory is now at a 5 year low with 191 active listings in the 32804 zip code. Rates are still under 5 percent, averaging 4.87% last week on a 30 year mortgage.

ACTIVE LISTINGS: 191
PENDING SALES: 75
CLOSED SALES: 2/7/2011 - 3/7/2011

VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.

2011-02-07T04:33:00.000-08:00

Over the past two weeks in the College Park market 15 properties went pending and there were 5 closed sales. It's taking awhile for the pending sales to close as 60% of the properties under contract are short sales.

We are now down to 193 properties listed for sale in College Park. This is super good news! The last time our inventory was down below 200 was in May of 2006. With more buyers entering the market as of late, supply and demand will hopefully prevent prices from falling as hard as in other parts of town.

Average rates on a 30 year mortgage rose slightly last week to 4.81%. Still great.

The pending sales were as follows:
Under $100,000 - 6
$100,000 - $199,999 - 5
$200,000 - $299,999 - 4

ACTIVE LISTINGS: 193
PENDING SALES: 82
CLOSED SALES: 1/24/2011 - 2/6/2011

VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.

2011-01-24T05:59:00.000-08:00

I have definitely seen an up-tick in activity recently. With rates on the rise and the economy taking a slight turn for the better, I think many buyers are realizing this is as good a time as any to go ahead and make a move. I am also seeing more investors picking up bank owned properties.

Over the past two weeks 17 properties went pending. Buyers are still looking for the "steals" however, as all but four are short sales or bank owned.

The pending sales were as follows:
Under $100,000 - 3
$100,000 - $199,999 - 10
$200,000 - $299,999 - 4

ACTIVE LISTINGS: 205
PENDING SALES: 73
CLOSED SALES: 1/10/2011 - 1/23/2011

VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.

2011-01-11T07:38:00.000-08:00

As we begin 2011 with the hope of a stable economy, I wanted to share how the College Park real estate market has changed over the past two years. I think you will be mostly pleased.

The following chart shows some real positive information. Our inventory has steadily declined since the beginning of '09 while the number of closed and pending sales has increased. The numbers aren't drastic, but definitely moving in the right direction.

The chart below shows how our prices per square foot have come down over the past two years, but that has to happen as we recover. Our AVERAGE per square foot sold prices are coming in around where we were in the last 6 months of '01.

The above numbers represent all single family properties. Feel free to email me if you would like a more specific break down.

4% mortgage rates are on their way out the door. Last week the average rate on a 30 year conventional mortgage was 4.77%. According to bankrate.com, experts predict rates to be between 5%-6% for 2011. If you are contemplating a refinance or home purchase, don't want too much longer.

Last week there were 6 closed sales posted and 6 properties that went pending. The pending sales were as follows:

Under $100,000 - 2
$100,000 - $199,999 - 3
$200,000 - $299,999 - 1

ACTIVE LISTINGS: 209
PENDING SALES: 67
CLOSED SALES: 1/3/2011 - 1/9/2011

VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.

2011-01-03T07:16:00.000-08:00

So here we go. It's a new year. I'm sure you're with me on this...I sure am ready for the real estate market to stabilize. Experts predict we will continue to drop some in 2011 nationwide, but the way I see it, College Park continues to hold stronger than most areas. Yes, our distressed inventory is still at 28%, however, that number has not gone up that much since I first ran this report in October of '09. We were at 21% then. Other parts of town have seen as much as 15% increase in the number of active distressed listings. If you compare our numbers to other areas, we are in much better shape. When things start to rebound, we will be among the first to recover.

There are some amazing deals out there right now. Let's hope 2011 brings more and more buyers looking to College Park, one of the most thriving communities in the Orlando area.

ACTIVE LISTINGS: 207
PENDING SALES: 70
CLOSED SALES: 12/6/2010 - 1/2/2011

VACANT LAND
ACTIVE: 17
PENDING: 2
SOLD (1/1/2010 - 12/31/2010): 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.

2010-12-06T05:25:00.000-08:00

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.

2010-11-29T14:52:00.000-08:00

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.

2010-11-15T13:08:00.000-08:00

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.

2010-11-08T04:59:00.000-08:00

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.

2010-11-01T05:14:00.000-07:00

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.

2010-10-25T04:52:00.000-07:00

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.

2010-10-04T04:58:00.000-07:00

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.

2010-09-27T17:03:00.000-07:00

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.

2010-09-19T17:35:00.000-07:00

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.

2010-09-13T04:42:00.000-07:00

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.

2010-08-29T16:41:00.000-07:00

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.

2010-08-16T05:45:00.000-07:00

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.

2010-08-02T08:35:00.000-07:00

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.

2010-07-26T09:20:00.000-07:00

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.

2010-07-19T09:12:00.000-07:00

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.

2010-07-12T07:36:00.000-07:00

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.

2010-06-28T08:07:00.000-07:00

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.

2010-06-22T06:29:00.000-07:00

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.

2010-06-14T10:24:00.000-07:00

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.

2010-06-07T05:10:00.000-07:00

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.

2010-06-01T07:46:00.000-07:00

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.

2010-05-24T06:43:00.000-07:00

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.

2010-05-17T08:08:00.000-07:00

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.

2010-05-10T09:13:00.000-07:00

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.

2010-05-03T06:25:00.000-07:00

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.

2010-04-26T08:03:00.000-07:00

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.

2010-04-19T07:52:00.000-07:00

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.

2010-04-05T15:42:00.000-07:00

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.

2010-03-30T12:14:00.000-07:00

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.

2010-03-22T08:48:00.002-07:00

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.

2010-03-15T09:29:00.001-07:00

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.

2010-03-08T06:06:00.000-08:00

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

2010-03-01T12:05:00.000-08:00

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

2010-02-22T13:09:00.001-08:00

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

2010-02-14T18:06:00.000-08:00

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

2010-01-31T17:26:00.001-08:00

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.

2010-01-24T12:12:00.000-08:00

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.

2010-01-18T06:15:00.000-08:00

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.

2010-01-11T06:57:00.000-08:00

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.

2010-01-04T11:34:00.000-08:00

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)

2009-12-28T08:33:00.000-08:00

I hope this update finds you enjoying the holiday season with your family and friends. It's so nice to take a break and focus on what means the most to us.

Amidst the festivities of last week, there was still activity in the College Park market with 4 homes going under contract and 8 closed sales. The lowest sales last week were all bank owned properties, including a Lake Fairview condo selling for $17,701! The banks are really pricing their inventory to sell quickly and are "dumping" them at ridiculously low prices. If you are in the position to pick up some investment property, now is the time to jump on these deals. There are many investors out there ready to pounce, but if you go about it the right way you can take advantage of this opportunity to build your portfolio.

Here are the recent sales in College Park:

SS = Short Sale BO = Bank Owned

2009-12-21T06:19:00.001-08:00

It's been an interesting couple of weeks in the real estate market. I've seen both some positive changes and some not-so-much.

You can certainly find many opinions floating out there about the future of real estate, but the truth is until people find jobs and businesses start to flourish, things are going to be crummy for a bit longer. I've read predictions for next year that between 4 million (Realty Trac) and 4.6 million (Moody's) foreclosures will be filed in 2010. Another challenge for 2010 is that mortgage guidelines are tightening. Fannie Mae just lowered the Debt-to-Income Ratio to 45% which means buyers will have to lower their expectations on how much house they can afford. FHA is expected to follow suit next month. This could also be viewed as a positive, however, ensuring that borrowers won't get in over their heads.

So what about College Park? You know, I've seen a lot of positive movement in our neighborhood in the past couple of weeks. More high end buyers are entering our market than we've seen in a very long time. There has been activity in the 500K and 800K ranges. There was a house that sold over one million last week and another just went pending. Good stuff! We're still hovering at 253 available properties and 56 pendings.

Rates remain under 5% on average, however, they rose last week to 4.94% on a 30 year and 4.38% on a 15 year mortgage.

Here are the recent sales in College Park:

SS = Short Sale BO = Bank Owned

2009-12-07T07:12:00.000-08:00

Wow! Rates have fallen below the current record set back in April, averaging 4.71% last week on a 30 year mortgage. This is great news for folks looking to buy right now, however, if you're thinking of refinancing it might be tricky. If you don't have a ton of equity it might prove to be difficult as you can only borrow 80% of your home's value. We are seeing appraisals coming in significantly lower than most home owner's expectations on refinance loans.

Get ready to see a new wave of short sales coming onto the market in the higher-end bracket. I'll keep you posted.

Here are the recent sales in College Park:

SS = Short Sale BO = Bank Owned

2009-11-22T17:47:00.000-08:00

Last week was a decent one in the College Park market with eight homes going under contract and two of them were over $500,000. Although few and far between, there are higher end buyers out there taking advantage of these great interest rates. As has been pretty common, however, most of the houses that went pending were under $200,000. Here's how each price range has stacked up so far this year:

Average mortgage rates remain under 5%. Rates on a 30 year fixed mortgage ran 4.83% last week, inching closer to the all time low of 4.78% earlier this year. Rates on a 15 year fixed averaged around 4.32%.

Here are the recent closed sales in 32804:

ACTIVE LISTINGS: 256

PENDING LISTINGS: 64

VACANT LAND
ACTIVE: 30
PENDING: 0
SOLD (YTD 11/16/2009): 4
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)
2614 WESTMORELAND: $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.

2009-11-16T05:26:00.000-08:00

We are entering our typical end of year slow down with closed sales dropping 30% in October compared to September, and pending sales dropping 27%. This is typical no matter the market.

Our activity has improved over this time last year, however, with 37.5% more properties going under contract. The actual number of sold properties is down 5.9%, but that is because so many of the pending sales are distress sales and those take longer to close.

I'm sure by now you are aware that the First Time Home Buyer Tax Credit of up to $8,000 has been extended to all homes under contract by April 30th, 2010. A few changes have been made, raising the income limits to $125,000 for a single person and $255,000 for a married couple, and there is now a credit for buyers who have owned a home for at least 5 years. That credit is up to $6500. Visit http://www.federalhousingtaxcredit.com/ for detailed information.

Average mortgage rates are under 5% again! Rates on a 30 year fixed mortgage ran 4.91% last week, on average. Rates on a 15 year fixed were around 4.36%.

Here are the recent closed sales in 32804:

ACTIVE LISTINGS: 261

PENDING LISTINGS: 62

VACANT LAND
ACTIVE: 30
PENDING: 0
SOLD (YTD 11/16/2009): 4
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)
2614 WESTMORELAND: $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.

2009-10-27T09:34:00.000-07:00

I know you would love to hear some good news from me! Well, I have some. College Park is still one of the strongest parts of town to invest your money in real estate and will be one of the quickest to recover.

When we hear talk about the market recovering, based on the fact that 24% of mortgages in Florida are in default, one would conclude that "overall" we have a long way to go. But if you are a believer in that old saying "location, location, location" you will not be surprised to see how that will hold true with regard to market stabilization. College Park ranks number three in my study of the following zip codes, having one of the lowest percentages of DISTRESS LISTINGS. The sooner we get through our short sale and bank owned inventory, the quicker we will get on the road to recovery. Here's how it all breaks down:

(These numbers are based on what is reported in MLS)

Rates rose slightly last week. The average rate on a 30 year fixed was 5% and 15 yr. rates rose to an average of 4.43%

CLOSED SALES: 10/19/2009 - 10/25/2009
2016 ELIZABETH AVE: 3/2 - 1,560 sq/ft - $306,000

OTHER MARKET ACTIVITY: 10/19/2009 - 10/25/2009
New Listings: 7
Pending Sales: 7
Price Reductions: 20

ACTIVE LISTINGS: 252

PENDING LISTINGS: 252

VACANT LAND:
ACTIVE: 31
PENDING: 0
SOLD (YTD 10/19/09): 4
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)
2614 WESTMORELAND: $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.

2009-10-19T07:02:00.000-07:00

Wonder how short sales and bank owned properties are affecting our College Park market? Unfortunately they are impacting our values in a big way. Since 75% of the pending listings right now are either short sales or bank owned, we are in deep for awhile. Here's how the numbers unfold:

3rd QUARTER OF 2008 (July-September)
NUMBER OF CLOSED SALES: 59
AVERAGE SALES PRICE: $340,523
HIGH PRICE PER SQ/FT: $327.27
AVERAGE PRICE PER SQ/FT: $183.22
LOW PRICE PER SQ/FT: $87.01

3rd QUARTER OF 2009 (July-September)
NUMBER OF CLOSED SALES: 59
AVERAGE SALES PRICE: $228,234
HIGH PRICE PER SQ/FT: $259.82
AVERAGE PRICE PER SQ/FT: $133.38
LOW PRICE PER SQ/FT: $38.05

That's quite a drop. There are certainly so many variables to contend with when determining how your specific property has been affected; location, square footage, condition, etc. Let me know if you'd like to know what your home is worth in today's market.

On a more positive note, rates remain very low. They inched up last week, but are still under 5%, on average. 30 year fixed rates rose to 4.92% and rates on a 15 year rose to 4.37%

CLOSED SALES: 10/12/2009 - 10/18/2009

BO = Bank Owned SS = Short Sale

OTHER MARKET ACTIVITY: 10/12/2009 - 10/18/2009
New Listings: 6
Pending Sales: 5
Price Reductions: 14

ACTIVE LISTINGS: 253

Total Pending Sales: 53

VACANT LAND:
ACTIVE: 31
PENDING: 0
SOLD (YTD 10/19/09): 4
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (lakefront)
2614 WESTMORELAND: $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.

2009-10-11T17:56:00.000-07:00

So this week is pretty much it for buyers wanting to cash in on the $8,000 first time home buyer credit if they want to meet the November 30th deadline for closing. It will be interesting to see if the government decides to extend the credit. If they do, we probably won't find out until November.

Rates fell even lower last week. 30 year fixed rates were down to 4.87%, on average and rates on a 15 year dropped even further to 4.33%

CLOSED SALES: 10/5/2009 - 10/11/2009

BO = Bank Owned SS = Short Sale

OTHER MARKET ACTIVITY: 10/5/2009 - 10/11/2009
New Listings: 9
Pending Sales: 4
Price Reductions: 16

ACTIVE LISTINGS: 247

Total Pending Sales: 51

VACANT LAND:
ACTIVE: 29
PENDING: 2
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-10-05T04:56:00.000-07:00

Last week buyers were takin' a break in the College Park market as just two houses went pending, a Wellesley condo listed at $110,000 and a single family home listed at $122,000. 16 closed sales were posted and I have to tell you, when I saw the numbers on a few of them, my heart sank. There were two in particular I've been watching and waiting to close. They were both 3/2s with around 1700 square feet and sold for around $250K. Ouch. Neither were short sales, however, sellers are having to face the fact that the bank owned and short sales values are affecting all of the comps. Another house that was purchased in August of 2008 for $698,000 just sold for $562,000. Again, the spec homes that were all sold in foreclosure this year affected the value of that house as well.

Gosh, I hate to sound so doom and gloom! Sorry about that. I just want you to have the facts, sugar free.

Here's some good news...rates fell below 5% last week! Rates on a 30 year fixed mortgage were down to 4.94%, on average and rates on a 15 year dropped to 4.36%

CLOSED SALES: 9/28/2009 - 10/4/2009

SS = Short Sale BO = Bank Owned

OTHER MARKET ACTIVITY: 9/28/2009 - 10/4/2009
New Listings: 9
Pending Sales: 2
Price Reductions: 24

Active Listings: 255

Total Pending Sales: 52

VACANT LAND:
ACTIVE: 29
PENDING: 2
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-09-28T04:51:00.000-07:00

Last week buyers were taking advantage of the listings priced under 200K, as all of the 9 pending sales were listed between $64,000 - $188,900. Seven of the nine were either bank owned or short sales.

More bank owned properties are entering our market and boy, are the banks ever pricing them to sell! Bank owned properties are selling, on average, for 99% of list price (many are selling over list) here in 32804. Compare that to short sales, which are averaging 87% of list price. Most of the bank owned properties are under contract a week or two after going on the market. For example, a beautiful canal front home over in Palomar closed last week for $489,000 after being listed at $449,000. The bank received several offers and were under contract in 13 days. To give you the background, the home was purchased in 2006 for $539,000 and was then COMPLETELY gutted and beautifully renovated. The bank just wanted to dump it quick, so they put it out there at a steal. In turn, they had buyers fighting for it, driving up the price.

There are some great bank owned deals out there right now, but you need to be prepared to fight for them and ready to act quick.

30 year rates remained at 5.04%, on average and rates on a 15 year dropped to 4.46%

CLOSED SALES: 9/21/2009 - 9/27/2009
3215 HELEN AVE: 3/2 - 1,859 sq/ft - $183,000 *BO
905 ALTON AVE: 3/2 - 1,491 sq/ft - $90,000 *BO
1600 ANCHOR CT: 3/3 - 3,123 sq/ft - $489,000 *BO
620 W HAZEL ST: 2/1/1 - 940 sq/ft - $184,250 *SS
33 E PAR ST: 2/1 - 1,395 sq/ft - $135,000 *SS

*BO = Bank Owned
*SS = Short Sale

OTHER MARKET ACTIVITY: 9/21/2009 - 9/27/2009
New Listings: 11
Pending Sales: 8
Price Reductions: 25

Active Listings: 245

Total Pending Sales: 67

VACANT LAND:
ACTIVE: 28
PENDING: 2
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-09-20T17:17:00.000-07:00

Last week 6 listings went under contract...more of the usual, with one exception. A lakefront short sale listed at 1,500,000 went pending. We haven't seen anything in that price range go under contract in quite some time. This house is amazing, however, and seems like a great deal at that price. It will be interesting to see how the deal unfolds and what the bank decides to accept.

There are 62 properties under contract right now in 32804, but as most of them are short sales, we aren't seeing the closings happen very quickly.

Mortgage rates dropped again last week, averaging 5.04% on a 30 year fixed and 4.47% on a 15 year. The 15 year rates are at the lowest level on record, dating back to 1991.

CLOSED SALES: 9/14/2009 - 9/20/2009
775 TIMOR AVE: 2/1 - 707 sq/ft - $26,900 *BO
726 CARLSON DR: 2/1 - 1,442 sq/ft - $105,400 *BO

*BO = Bank Owned

OTHER MARKET ACTIVITY: 9/14/2009 - 9/20/2009
New Listings: 8
Pending Sales: 6
Price Reductions: 11

Active Listings: 247

Total Pending Sales: 62

VACANT LAND:
ACTIVE: 28
PENDING: 2
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-09-14T05:11:00.001-07:00

Last week in the College Park market 10 homes went pending, helping to bring our inventory even lower. Inventory is the lowest it's been since February of '07, which is very good for folks who are trying to sell property right now. Our average selling price has come up slightly as we start to see an increase in buyers making home purchases above $200,000.

Mortgage rates dropped slightly again last week, averaging 5.07% on a 30 year fixed and 4.5% on a 15 year.

CLOSED SALES: 9/7/2009 - 9/13/2009
226 W SPRUCE ST: 4/2 - 1,736 sq/ft - $197,500
2305 EDGEWATER DR #1614: 1/1 - 914 sq/ft - $119,950 *SS (Wellesley)
115 E KING ST: 3/2 - 1,650 sq/ft - $167,000

*SS - Short Sale

OTHER MARKET ACTIVITY: 9/7/2009 - 9/13/2009
New Listings: 5
Pending Sales: 10
Price Reductions: 21

Active Listings: 247

Total Pending Sales: 62

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-09-07T07:57:00.000-07:00

Last week in the College Park market 6 homes went pending, listed from $74,900-$415,000. Of all of the pending sales right now in 32804, 80% are distress sales and the price ranges are as follows:

Mortgage rates dropped last week, averaging 5.08% on a 30 year fixed and 4.54% on a 15 year.

CLOSED SALES: 8/31/2009 - 9/6/2009
2305 EDGEWATER DR #1403: 1/1 - 911 sq/ft - $119,500 *SS

*SS - Short Sale

OTHER MARKET ACTIVITY: 8/31/2009 - 9/6/2009
New Listings: 9
Pending Sales: 6
Price Reductions: 27

Active Listings: 251

Total Pending Sales: 56

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-08-31T04:49:00.000-07:00

Last week in College Park buyers were busy, putting 11 homes under contract. The clock is ticking on the first time home buyer tax credit, so those buyers are making sure they don't miss out.

Rates last week barely edged up to an average of 5.14% on a 30 year fixed and 4.58% on a 15 year.

CLOSED SALES: 8/24/2009 - 8/30/2009
2202 ELIZABETH AVE#B: 3/3 - 1,596 sq/ft - $205,000
600 W YALE ST: 2/1 - 964 sq/ft - $197,000
927 CARLSON DR: 3/2 - 1,759 sq/ft - $167,500
2305 EDGEWATER DR#1713: 2/1 - 1,209 sq/ft - $183,000 (Wellesley) *BO

*BO = Bank Owned

OTHER MARKET ACTIVITY: 8/24/2009 - 8/30/2009
New Listings: 7
Pending Sales: 11
Price Reductions: 27

PRESENTLY ON THE MARKET: 8/31/2009
Active Listings: 256
Under 100K: 8
100K - 199,999: 71
200K - 299,999: 66
300K - 399,999: 43
400K - 499,999: 19
500K - 599,999: 15
600K - 699,999: 10
700K - 799,999: 6
800K - 899,999: 1
900K - 999,999: 5
Over $1,000,000: 12
Total Pending Sales: 54

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-08-24T04:46:00.000-07:00

I get asked a lot when I think things are going to stabilize. Of course that is a difficult question to answer, but here's what I do know.

On one hand home sales are up 37% in the state of Florida over last year, but the median sales price is down 24%. Because of the foreclosure activity in Florida (worst in the nation) we are likely to still see prices fall for some time.

We are now starting to see a rise in the delinquency rate of prime borrowers (those with good credit) due to the poor economy, not the structure of their loans as with sub-prime borrowers. In Florida, 23% of all loans are either past due or in foreclosure. The foreclosure rate among prime borrowers rose to 12.42%. Because of this, I think we are going to start to see an increase in higher end homes hitting the market as short sales and bank owned sales.

Rates are still great and there are buyers out there ready to make a move. If you are thinking of selling, I would jump now rather than wait for prices to come down into next year.

Rates last week averaged 5.12% on a 30 year fixed and 4.56% on a 15 year.

CLOSED SALES: 8/17/2009 - 8/23/2009
21 W YALE ST: 3/2 - 1,844 sq/ft - $310,000
924 ASHINGTON PL: 2/2 - 1,594 sq/ft - $250,000
35 E PRESTON ST: 4/2 - 1,873 sq/ft - $225,000

OTHER MARKET ACTIVITY: 8/17/2009 - 8/23/2009
New Listings: 11
Pending Sales: 7
Price Reductions: 15

PRESENTLY ON THE MARKET: 8/23/2009
Active Listings: 263
Under 100K: 11
100K - 199,999: 76
200K - 299,999: 66
300K - 399,999: 39
400K - 499,999: 21
500K - 599,999: 16
600K - 699,999: 10
700K - 799,999: 6
800K - 899,999: 1
900K - 999,999: 5
Over $1,000,000: 12
Total Pending Sales: 49

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-08-17T04:38:00.000-07:00

This has set out to be a great August in the College Park real estate market! In August of 2008, 19 homes went under contract. So far this August, 18 have gone pending and we're only half way through the month. The chart below shows the activity from 7/08 - 7/09. You can see how bad things got and how we are beginning to rebound, as far as activity. Our inventory is down to 258 now also, so things are really starting to stabilize.

Rates rose last week, averaging 5.29% on a 30 year fixed and 4.68% on a 15 year fixed rate mortgage. Still incredible.

CLOSED SALES: 8/3/2009 - 8/9/2009
2607 COOLIDGE AVE: 3/2 - 1,400 sq/ft - $137,900 *BO
3009 HELEN AVE: 2/1 - 1,267 sq/ft - $230,000
3210 HARRISON AVE: 4/4 - 2,420 sq/ft - $425,000
6 E PAR ST: 4/2/1 - 2,480 sq/ft - $299,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 8/10/2009 - 8/16/2009
New Listings: 8
Pending Sales: 4
Price Reductions: 22

PRESENTLY ON THE MARKET: 8/16/2009
Active Listings: 258
Under 100K: 9
100K - 199,999: 75
200K - 299,999: 67
300K - 399,999: 37
400K - 499,999: 20
500K - 599,999: 16
600K - 699,999: 11
700K - 799,999: 6
800K - 899,999: 2
900K - 999,999: 4
Over $1,000,000: 12
Total Pending Sales: 47

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-08-10T04:56:00.000-07:00

So much for the typical "end-of-summer-slow-down". We're breakin' the rules! Last week 12 properties went pending. Ten of the twelve were short sales or bank owned, showing that buyers are going after the best priced properties which are usually the distress sales.

All signs are pointing to the start of a turn around, not only nationally, but finally here in College Park. We have 254 active listings, down from 314 this time last year. We are also down to a 12.3 month supply of inventory (based on closed sales through the end of the July) compared to a 40.3 month supply in January.

While this is GREAT news, prices do continue to come down because of the short sales and bank owned properties being sold. The chart below shows the average price of listed homes vs. the average price of what is selling (Jan.-July). The closed sales sold for 77% of their original list price, on average.

Rates fell slightly last week, averaging 5.22% on a 30 year fixed and 4.63% on a 15 year fixed rate mortgage.

CLOSED SALES: 8/3/2009 - 8/9/2009
721 LANGSTON CT: 3/3 - 2,288 sq/ft - $170,000 *BO
365 DUBSDREAD CIR: 4/3 - 3,807 sq/ft - $587,000 *SS
1027 BRYN MAWR ST: 4/2 - 2,571 sq/ft - $668,000
844 TIMOR AVE: 3/2 - 1,509 - $77,500 *BO

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 8/3/2009 - 8/9/2009
New Listings: 6
Pending Sales: 12
Price Reductions: 20

PRESENTLY ON THE MARKET: 8/9/2009
Active Listings: 254
Under 100K: 10
100K - 199,999: 76
200K - 299,999: 65
300K - 399,999: 38
400K - 499,999: 16
500K - 599,999: 15
600K - 699,999: 11
700K - 799,999: 7
800K - 899,999: 2
900K - 999,999: 4
Over $1,000,000: 11
Total Pending Sales: 51

VACANT LAND:
ACTIVE: 30
PENDING: 0
SOLD (YTD 8/10/09): 3
848 TIMOR: $23,000
723 EDGEWATER: $63,900
1716 FAIRVIEW SHORES: $295,000 (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.

2009-08-03T04:39:00.000-07:00

Finally! There sure has been great news lately about the real estate market slowly inching toward a recovery. Music to my ears and yours too, I'm sure. Here in College Park, we're staying pretty close to the same number of closed sales as this time last year. As far as price per square foot, the median for the year has come down about 15% compared to last year. Each segment is different, however. For example, on homes with over 3000 sq/ft, the median price per square foot has come down 34%

Last week in the College Park market 7 homes went under contract, 6 listed from $65,000-$267,00 and a short sale with 3,418 sq/ft listed at $460,000.

Rates rose again last week, averaging 5.25% on a 30 year fixed and 4.689% on a 15 year fixed rate mortgage. This time last year rates on a 30 year were 6.52%.

CLOSED SALES: 7/27/2009 - 8/2/2009
203 W WINTER PARK ST: 3/2 - 1,350 sq/ft - $205,000
2050 COUNTRY SIDE CIR: 2/2 - 1,466 sq/ft - $190,000
724 SEMINOLE AVE: 3/1 - 480 sq/ft- $55,730
854 CARLSON DR: 3/2 - 916 sq/ft - $90,000
25 E NEW HAMPSHIRE ST: 4/3/1 - 4,142 sq/ft - $605,000
4724 GODDARD AVE: 3/1 - 1,150 sq/ft - $118,900

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/27/2009 - 8/2/2009
New Listings: 11
Pending Sales: 7
Price Reductions: 12

PRESENTLY ON THE MARKET: 8/3/2009
Active Listings: 267
Under 100K: 12
100K - 199,999: 80
200K - 299,999: 68
300K - 399,999: 39
400K - 499,999: 16
500K - 599,999: 16
600K - 699,999: 12
700K - 799,999: 7
800K - 899,999: 2
900K - 999,999: 4
Over $1,000,000: 11
Total Pending Sales: 43

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.

2009-07-27T05:16:00.000-07:00

Last week in the College Park market 8 homes went under contract, listed from $65,000-$229,900. We are still finding that the majority of pending sales in College Park are distressed sales (65%) as buyers try to get the best deals out there.

Rates rose slightly last week, averaging 5.2% on a 30 year fixed and 4.68% on a 15 year fixed rate mortgage.

CLOSED SALES: 7/20/2009 - 7/26/2009
1330 GOLFVIEW ST: 2/2 - 1,520 sq/ft - $174,900
2305 EDGEWATER DR #1210: 3/2/1 - 1,882 sq/ft - $412,500 *SS (Wellesley Condo)
2315 ANN ARBOR AVE: 2/1 - 940 sq/ft- $180,000
836 CAREW AVE: 3/2 - 1,647 sq/ft - $163,500 *SS
115 E SMITH ST #7: 2/1 - 930 sq/ft - $62,000 *BO

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/20/2009 - 7/26/2009
New Listings: 20
Pending Sales: 8
Price Reductions: 26

PRESENTLY ON THE MARKET: 7/27/2009
Active Listings: 268
Under 100K: 10
100K - 199,999: 81
200K - 299,999: 63
300K - 399,999: 42
400K - 499,999: 18
500K - 599,999: 17
600K - 699,999: 12
700K - 799,999: 7
800K - 899,999: 2
900K - 999,999: 5
Over $1,000,000: 11
Total Pending Sales: 43

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.

2009-07-21T06:08:00.000-07:00

The College Park real estate market was a bit slower last week with just 4 houses going under contract. This is typical activity as we start inching toward the end of summer. Historically sales peak in June, slow down a little in July and significantly drop off in August. On the bright side, our inventory keeps falling and we are now down to 264 active listings.

Rates came down again last week, averaging 5.14% on a 30 year fixed and 4.63% on a 15 year fixed rate mortgage.

CLOSED SALES: 7/13/2009 - 7/19/2009
1421 W HARVARD ST: 2/2 - 1,622 sq/ft - $155,000 *SS
1517 ARTHUR ST: 3/2/1 - 1,708 sq/ft - $325,000
604 SHERIDAN BLVD: 3/2 1,544 sq/ft - $318,000
225 W SPRUCE ST: 3/2 - 2,049 sq/ft - $218,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 7/13/2009 - 7/19/2009
New Listings: 11
Pending Sales: 4
Price Reductions: 32

PRESENTLY ON THE MARKET: 7/21/2009
Active Listings: 264
Under 100K: 11
100K - 199,999: 75
200K - 299,999: 62
300K - 399,999: 45
400K - 499,999: 18
500K - 599,999: 17
600K - 699,999: 12
700K - 799,999: 6
800K - 899,999: 2
900K - 999,999: 6
Over $1,000,000: 10
Total Pending Sales: 42

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.

2009-07-12T13:46:00.000-07:00

I was unable to do the update last week so this week's info is from the past 2 WEEKS. When I checked the stats, I was pleasantly surprised! Some of the highlights were 12 closed sales and 13 properties that went under contract. Our inventory has also dropped to 275 active listings in 32804.

In the Orlando market as a whole, inventory levels are at just over an 8 month supply. A 6 month supply is indicative of a balance between buyers and sellers. Here in the College Park market, we have just over a 19 month supply, if we base that on the activity over the past 6 months. This is why I get so excited when I see the number of active listings going down. We still have a way to go until we get closer to things leveling off in College Park.

Rates ended the week last week down for the second straight week. Rates are down "amid market concerns over a weakening labor market", according to Frank Nothaft, Freddie Mac's chief economist. Average rates on a 30 yr. fixed were 5.2% and 4.69% on a 15 yr. fixed rate mortgage.

60% of our pending sales in the College Park market are distressed sales (Bank Owned or Short Sales) and as you can see below, they tend to sell for less than "regular" sales.

CLOSED SALES: 6/29/2009 - 7/12/2009 (2 WEEK PERIOD)
854 CARLSON DR: 3/2 - 916 sq/ft - $75,000 *BO
831 STETSON ST: 2/1/1 - 834 sq/ft - $203,900
2929 OBERLIN AVE: 2/2 1,258 sq/ft -$260,000
1225 W HARVARD ST: 2/1 - 1,177 sq/ft - $192,900
1433 FAIRVIEW ST: 3/2 1,707 sq/ft - $200,000 *BO
750 BOARDMAN ST: 4/3 - 2,157 sq/ft -$325,000 *BO
1724 N SHORE TER: 3/2 1,265 sq/ft -$119,900 *BO
2821 CARL TER: 2/1 - 1,067 sq/ft - $196,000
4715 GODDARD AVE: 3/2 - 1,360 sq/ft -$97,000 *BO
3525 EAGLE DR: 5/3/1 - 3,519sq/ft - $510,000
1415 W YALE ST: 3/2 - 1,383 sq/ft -$240,000
2600 MUSSELWHITE AVE: 2/2 - 1,027 sq/ft -$123,500 *SS

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 6/29/2009 - 7/12/2009 (2 WEEK PERIOD)
New Listings: 23
Pending Sales: 13
Price Reductions: 43

PRESENTLY ON THE MARKET: 7/12/2009
Active Listings: 275
Under 100K: 9
100K - 199,999: 79
200K - 299,999: 68
300K - 399,999: 50
400K - 499,999: 15
500K - 599,999: 17
600K - 699,999: 13
700K - 799,999: 5
800K - 899,999: 2
900K - 999,999: 6
Over $1,000,000: 11
Total Pending Sales: 43

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.

2009-06-29T04:22:00.000-07:00

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.

2009-06-22T05:32:00.000-07:00

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%.

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.

2009-06-15T04:13:00.000-07:00

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.

2009-06-08T05:17:00.000-07:00

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.

2009-06-01T03:42:00.000-07:00

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.

2009-05-26T04:39:00.000-07:00

You can't listen to the news these days without hearing talk of short sales, foreclosures, bank owned property, etc. It is all such a huge part of the real estate market now and is here to stay for awhile. You might wonder how College Park is being affected by distress sales (short sale or bank owned).

In College Park (32804):
16% of all Active Listings are distress sales
64% of all Pending Listings are distress sales

Here's the percentage of the distress sale activity around us. There are different areas within the following cities that fare differently, so let me know if you'd like a breakdown of a particular zip code.

Orlando:
Active - 46%
Pending - 74%
Winter Park:
Active - 20%
Pending - 53%
Maitland:
Active - 31%
Pending - 64%

The majority of buyers out there today are clearly looking for the best deal they can get, which in many cases, is going to be a property in pre-foreclosure or one already taken back from the back. Unfortunately the appraisers have to use these sales as comps and therefore prices continue to come down.

CLOSED SALES: 5/18/2009 - 5/24/2009
118 W EVANS ST: 3/2 - 1,032 sq/ft - $168,797 *SS
920 ASHINGTON PL#12: 3/2 - 1,962 sq/ft - $313,000
220 E HARVARD ST: 4/2 - 1,889 sq/ft - $331,000
1407 GOLFVIEW ST: 2/1 - 1,038 sq/ft - $129,000
2915 HELEN AVE: 2/1 - 952 sq/ft - $155,000 *BO
2305 EDGEWATER DR#1616: 2/2 - 1,115 sq/ft - $210,000 *BO
2931 HELEN AVE: 2/1 - 1,056 sq/ft - $203,000
913 N. WESTMORELAND DR: - 3/2 - 1,666 sq/ft - $282,000

*SS - Short Sale
*BO - Bank Owned

OTHER MARKET ACTIVITY: 5/18/2009 - 5/24/2009
New Listings: 18
Pending Sales: 8
Price Reductions: 20

PRESENTLY ON THE MARKET: 5/26/2009
Active Listings: 288
Under 100K: 11
100K - 199,999: 57
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 18
600K - 699,999: 18
700K - 799,999: 5
800K - 899,999: 7
900K - 999,999: 7
Over $1,000,000: 13
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.

2009-05-18T04:30:00.000-07:00

Sometimes I feel like the grim reaper these days bringing the harsh reality to your attention, but I've gotta keep it real. I promise to end on a positive note!

I ran some numbers today to determine the ABSORPTION RATE in each price range in the 32804 zip code. The absorption rate is how many months it will take the market to absorb the current inventory, in other words, how many months' supply do we have in each category. To arrive at these numbers, I took how many homes have sold in the past year in each price range, divided that by 12 months, and then divided that into the number of active listings there are in each category. Here's what I found:

Under 100K: 26 month supply
100-200K: 14 month supply
200-300K: 12 month supply
300-400K: 23 month supply
400-500K: 16 month supply
500-600K: 36 month supply
600-700K: 36 month supply
700-800K: 9 month supply
800-900K: 28 month supply
Over 900K: There have been no sales over $900,000 in the past 12 months. In the past 2 years, the only single family homes sold over 900K were lakefront, with one exception, a house on Seville with over 7,000 sq/ft that sold for 2.5m. There was one condo in The Wellesley that sold for 1.3m in July of '07

If you have a house to sell, with the absorption rate we are seeing right now, staying ahead of the pack (best price, best condition) is essential.

Here's the good news. There are 44 pending listings that are scheduled to close. When they do, these numbers will be better. Also, there is some rumbling out there about trying to get the first time home buyer $8,000 tax credit payable at closing in the state of Florida. This will have a positive impact on sales.

Average rates ended the week last week at 5% on a 30 year fixed and 4.75% on a 15 year. Keep in mind these are averages. My clients are locking in lower than that.

CLOSED SALES: 5/11/2009 - 5/17/2009
4405 BUCKEYE CT: 2/1 - 900 sq/ft - $65,000
2626 ELIZABETH AVE: 3/2 - 1,809 - $362,000

OTHER MARKET ACTIVITY: 5/11/2009 - 5/17/2009
New Listings: 9
Pending Sales: 3
Price Reductions: 17

PRESENTLY ON THE MARKET: 5/17/2009
Active Listings: 288
Under 100K: 11
100K - 199,999: 57
200K - 299,999: 84
300K - 399,999: 51
400K - 499,999: 17
500K - 599,999: 18
600K - 699,999: 18
700K - 799,999: 5
800K - 899,999: 7
900K - 999,999: 7
Over $1,000,000: 13
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.

2009-05-11T03:45:00.000-07:00

Last week was another decent one with 7 homes going under contract. Of the 7, once again, the majority (5) were under $200,000. There was one closed sale posted, 16 E. Vanderbilt, a renovated 2/1 with 1,180 square feet and a gorgeous 93x146 lot. This property sold for $250,000, a really great buy for someone.

You might have noticed that although the number of pending sales is higher each week (43 right now in 32804) there aren't a ton of closed sales to track. This is due to the number of short sales and bank owned properties under contract and those take months to close. Of the 43 pending contracts right now, more than half (24) are distress sales.

Average rates ended the week last week at 4.84% on a 30 year fixed and 4.51% on a 15 year.

CLOSED SALES: 5/4/2009 - 5/10/2009
16 E. Vanderbilt St: 2/1 - 1180 sq/ft - $250,000

OTHER MARKET ACTIVITY: 5/4/2009 - 5/10/2009
New Listings: 15
Pending Sales: 7
Price Reductions: 23

PRESENTLY ON THE MARKET: 5/11/2009
Active Listings: 291
Under 100K: 9
100K - 199,999: 60
200K - 299,999: 82
300K - 399,999: 50
400K - 499,999: 19
500K - 599,999: 18
600K - 699,999: 19
700K - 799,999: 6
800K - 899,999: 8
900K - 999,999: 7
Over $1,000,000: 13
Total Pending Sales: 43

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.

2009-05-03T17:00:00.000-07:00

I come to you today with great news with a bitter-sweet twist. We had 10 homes go under contract last week! I can't remember the last time we saw that...it's been awhile and definitely not this year. While that is very encouraging, it's not great news for those trying to sell their houses in the mid to upper range as 8 of those listings were priced under $200,000. I can't think of a better time to be a first time home buyer. Rates are historically low, prices have come way down, and that $8,000 tax credit really sweetens the deal. Mid and upper range buyers are still few and far between as most have houses of their own to sell.

Of the 8 closed sales last week, none of them were short sales or bank owned!!

Average rates today 5.125% on a 30 year fixed and 4.750% on a 15 year.

CLOSED SALES: 4/20/2009 - 4/26/2009
2101 HARRISON AVE: 3/2/1 - 2,177 sq/ft - $365,000
1310 BELLEAIRE CIR: 4/3/1 - 3,156 sq/ft - $490,000
2035 COUNTRY SIDE CIR: 2/2 - 1,502 sq/ft - $196,000
3123 EAGLE BLVD #f: 3/1/1 - 1,220 sq/ft - $179,750
3512 FAIRWAY LN: 3/1 - 944 sq/ft - $124,500
2216 AMHERST AVE: 3/2/1 - 1,608 sq/ft - $245,000
1902 N WESTMORELAND DR: 2/1 - 830 sq/ft - $185,000
616 W HAZEL ST: 2/2 - 1,279 sq/ft - $275,000

OTHER MARKET ACTIVITY: 4/27/2009 - 5/3/2009
New Listings: 7
Pending Sales: 10
Price Reductions: 25

PRESENTLY ON THE MARKET: 5/3/2009
Active Listings: 284
Under 100K: 9
100K - 199,999: 59
200K - 299,999: 78
300K - 399,999: 47
400K - 499,999: 20
500K - 599,999: 20
600K - 699,999: 18
700K - 799,999: 7
800K - 899,999: 9
900K - 999,999: 4
Over $1,000,000: 13
Total Pending Sales: 37

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.

2009-04-27T03:31:00.000-07:00

We are dealing with more and more short sales in my office these days. A short sale is where the bank agrees to sell the property for less than is owed on the mortgage. In this market, folks who bought their houses in 2005-2007 are often "upside down" and can't refinance that adjustable rate mortgage they got when they bought the house. The cannot afford to continue to pay their new, much higher mortgage payment and are facing foreclosure. In other cases, a homeowner has to move because of a job transfer, but cannot sell their house for what is owed...maybe they bought in the inflated market or took out a second mortgage during those peak times.

Not being able to sell your house for what you owe is a horrible spot to be in. MANY homeowners are facing it daily, even here in College Park. If you, or someone you know, would like advice or just more information on selling your house short, or even purchasing these distressed properties, just let me know. It's a complicated and often grueling process, however, many of the banks are improving their systems and the sales are going through. We have a few short sale "experts" in my office and we are having much better luck getting these contracts to the closing table.

Both of the closed sales last week in College Park were short sales.

Average rates are down today with 4.875% on a 30 year fixed and 4.625% on a 15 year.

CLOSED SALES: 4/20/2009 - 4/26/2009
16 W VANDERBILT ST: 5/3/2 - 3,654 sq/ft - $620,000 *SS
115 E SMITH ST #9: 2/1 - 930 sq/ft - $69,900 *SS
*SS = Short Sale

OTHER MARKET ACTIVITY: 4/20/2009 - 4/26/2009
New Listings: 7
Pending Sales: 3
Price Reductions: 25

PRESENTLY ON THE MARKET: 4/27/2009
Active Listings: 285
Under 100K: 8
100K - 199,999: 61
200K - 299,999: 80
300K - 399,999: 46
400K - 499,999: 18
500K - 599,999: 21
600K - 699,999: 19
700K - 799,999: 7
800K - 899,999: 8
900K - 999,999: 5
Over $1,000,000: 13
Total Pending Sales: 35

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.

2009-04-20T04:50:00.000-07:00

You may be hearing in the news about the increase in closed and pending sales across the country. Such great news! Here in Orlando there are 4,906 pending sales, more than double from the same time last year!! Although more people are jumping into the market, prices continue to come down. In Orlando the median sales price has dropped approximately 37% from March '08 to March '09, to $137,000.

Here in College Park the median sales price so far this year is $203,306.
In the industry the talk is that we won't hit bottom until we reach 2003-2004 prices. For the entire year of 2004, the median sales price was $222,000 and in 2003 it was $191,000. It appears that "the experts" know what they're talking about. I hope (and pray) that we are inching closer to some stabilization.

Average rates on a 30 yr. fixed have gone up to 5.375% on a 30 yr. fixed and 5% on a 15 yr.

CLOSED SALES: 4/13/2009 - 4/20/2009

2305 EDGEWATER DR #1723: 2/2 - 1,115 sq/ft - $265,000 (The Wellesley)
1124 W YALE ST: 3/3 - 2,234 sq/ft - $433,000
1021 ATKINS PL: 3/2/1 - 1,758 sq/ft - $282,000
1311 W HARVARD ST: 3/2 - 1,664 sq/ft - $186,111 *BO
2520 HARRISON AVE: 2/2 - 1,226 sq/ft - $192,000
4155 SHORECREST DR: 3/2 - 1,400 sq/ft - $192,000
*BO = Bank Owned

OTHER MARKET ACTIVITY: 4/13/2009 - 4/20/2009
New Listings: 12
Pending Sales: 8
Price Reductions: 19

PRESENTLY ON THE MARKET: 4/21/2009
Active Listings: 284
Under 100K: 7
100K - 199,999: 63
200K - 299,999: 80
300K - 399,999: 47
400K - 499,999: 18
500K - 599,999: 17
600K - 699,999: 20
700K - 799,999: 7
800K - 899,999: 8
900K - 999,999: 5
Over $1,000,000: 12
Total Pending Sales: 35

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.

2009-04-13T03:55:00.000-07:00

I know we all need some positive news right now, so here you go... Our inventory in College Park is the lowest it's been since mid January. That's a good thing. The number of closed sales in March was up over February's numbers. That's a good thing. The number of pending sales is the highest it's been since late August of '08. That's a good thing. So the bottom line is, things appear to be settling down a bit and buyers are gaining more confidence.

We still have a bit of harsh reality to deal with, however, and there's no sense in sugar coating the facts. When I just pulled the fist quarter stats for '09 and compared them with last years first quarter numbers, here's what I found. In 32804 in Q1 of 2008, there were 45 closed sales with a median sales price of $295,000. For Q1 of 2009, there were 28 closed sales with a median sales price of $203,306.

As I poll my realtor peers, and with what I'm seeing with my own listings, there is VERY little activity in the over 300K market. Of the 34 pending sales, 74% are listed under $300,000, 5 are bank owned properties and 10 are in pre-foreclosure.

Average rates on a 30 yr. fixed have gone back up over 5% today.

CLOSED SALES: 4/6/2009 - 4/12/2009
1002 Edgewater Ct.: 2/1 - 1074 sq/ft - $253,000

OTHER MARKET ACTIVITY: 4/6/2009 - 4/12/2009
New Listings: 8
Pending Sales: 3
Price Reductions: 17

PRESENTLY ON THE MARKET: 4/12/2009
Active Listings: 280
Under 100K: 8
100K - 199,999: 59
200K - 299,999: 84
300K - 399,999: 43
400K - 499,999: 18
500K - 599,999: 15
600K - 699,999: 21
700K - 799,999: 7
800K - 899,999: 8
900K - 999,999: 4
Over $1,000,000: 15
Total Pending Sales: 34

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.

2009-04-05T14:14:00.000-07:00

There was another bummer of a sale last week; new, quality construction selling for much less than the cost of building the house (see below). If you are thinking of selling, you need to be ahead of the curve rather than following the market down. With the short sales and bank owned properties out there, we still have a way to go. The good news is buyers are buying, they're just after the best deal.

Rates remain under 5% for a 30 year fixed.

CLOSED SALES: 3/30/2009 - 4/5/2009
818 YATES ST: 4/4/1 - 3,785 sq/ft- $575,000 *SS
225 E NEW HAMPSHIRE ST #14: 2/1 - 594 sq/ft - $62,600 *BO
*SS = Short Sale
*BO = Bank Owned

OTHER MARKET ACTIVITY: 3/30/2009 - 4/5/2009
New Listings: 8
Pending Sales: 5
Price Reductions: 14

PRESENTLY ON THE MARKET: 4/5/2009
Active Listings: 281
Under 100K: 9
100K - 199,999: 57
200K - 299,999: 84
300K - 399,999: 41
400K - 499,999: 20
500K - 599,999: 15
600K - 699,999: 22
700K - 799,999: 7
800K - 899,999: 8
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 32

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.

2009-03-30T14:17:00.000-07:00

We had another good week last week in College Park with 9 properties going under contract.

First time home buyers (or anyone not having owned a house in 3 years) have a great leg up right now. On home purchases through 12/1/2009, they will receive an $8,000 tax credit that does not have to be paid back. The credit also applies to divorced, single moms purchasing a home this year. Let me know if you would like more information.

Rates hit an all time low last week, averaging at 4.625% on a 30 year fixed!

CLOSED SALES: 3/16/2009 - 3/22/2009
1706 OAKMONT LN: 2/1 - 1,341 sq/ft - $239,900
2801 ARDSLEY DR: 4/3 - 2,686 sq/ft - $750,000 (Lk. Silver)
1337 VASSAR ST: 3/1/1 - 1,334 sq/ft - $213,000 *SS
*SS = Short Sale
*BO = Bank Owned

OTHER MARKET ACTIVITY: 3/23/2009 - 3/29/2009
New Listings: 8
Pending Sales: 9
Price Reductions: 19

PRESENTLY ON THE MARKET: 3/29/2009
Active Listings: 282
Under 100K: 10
100K - 199,999: 56
200K - 299,999: 87
300K - 399,999: 41
400K - 499,999: 20
500K - 599,999: 14
600K - 699,999: 21
700K - 799,999: 7
800K - 899,999: 8
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 31

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.

2009-03-23T04:50:00.000-07:00

I am definitely seeing an uptick in activity in the market these days. With rates dropping again, as well as prices, buyers are jumping in. Last week 4 properties went under contract in College Park listed between $149,900 - $399,900 and there were 5 closed sales (below). Inventory remains under 290 active listings.

Average mortgage rates dropped last week to 5% on a 30 year fixed and rates on a 15 yr. fixed fell to 4.625%. Keep in mind that's an average. I heard of a few people locking in last week at 4.675% on a 30 yr. fixed.

CLOSED SALES: 3/16/2009 - 3/22/2009
927 ASHINGTON PL: 2/3/1 - 2,033sq/ft - $180,000
2916 HELEN AVE: 3/2/1 - 1,895 sq/ft - $260,000
1341 W HARVARD ST 3 / 2 1,516 N 1940 $5,105 $155,000 *BO
534 W PAR ST #534: 2/2 - 1,200 sq/ft - $150,000 *SS
12 W VANDERBILT ST.: 5/3/2 - 3,654 sq/ft - $595,000 *SS
*SS = Short Sale
*BO = Bank Owned

OTHER MARKET ACTIVITY: 3/16/2009 - 3/22/2009
New Listings: 9
Pending Sales: 4
Price Reductions: 24

PRESENTLY ON THE MARKET: 3/23/2009
Active Listings: 286
Under 100K: 10
100K - 199,999: 58
200K - 299,999: 88
300K - 399,999: 42
400K - 499,999: 20
500K - 599,999: 13
600K - 699,999: 22
700K - 799,999: 7
800K - 899,999: 7
900K - 999,999: 3
Over $1,000,000: 16
Total Pending Sales: 25

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.

2009-03-16T05:55:00.000-07:00

I think we can all use some positive news, wouldn't you say?

Here's a "positive" fact: In the U.S., 96.7% of all homes with a mortgage are NOT in foreclosure!

And this, from the Orlando Realtor Association:

Orlando REALTORS® filed 58.36% more contracts in the month of February (2,434) than in February 2008 (1,537). Overall, pending sales — considered by housing economists to be a reliable indicator of future sales — continued its upward trend in February to 4,348. There are twice as many more homes under contract in February 2009 than compared to February 2008 (2,175). The median price of Orlando homes sold in February ($145,500) decreased by 34.75% compared to February 2008. (Sorry, that part isn't good news, but we have to take the good with the bad)

Last week 3 properties went under contract in College Park. They were listed between $74,900 - $199,900.

Average mortgage rates dropped last week to 5.03% on a 30 year fixed and rates on a 15 yr. fixed fell to 4.64%. (These rates do not include add on points)

CLOSED SALES: 3/9/2009 - 3/15/2009
976 W FAIRBANKS AVE: 3/2 - 1,055 sq/ft - $80,000

OTHER MARKET ACTIVITY: 3/9/2009 - 3/15/2009
New Listings: 7
Pending Sales: 3
Price Reductions: 18

PRESENTLY ON THE MARKET: 3/15/2009
Active Listings: 287
Under 100K: 10
100K - 199,999: 53
200K - 299,999: 93
300K - 399,999: 43
400K - 499,999: 19
500K - 599,999: 13
600K - 699,999: 24
700K - 799,999: 7
800K - 899,999: 7
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 25

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.

2009-03-09T18:41:00.000-07:00

Spring is in the air and the phones are starting to ring. We are still seeing most of the activity in the 250K and under range as first time home buyers take advantage of low prices and FHA financing. Buyers are still taking their time, however, the number of showings in that price range is on the rise.

Last week four properties went under contract in College Park. They were listed between $59,900 - $495,000.

Average mortgage rates rose last week to 5.15% on a 30 year fixed and remained the same at 4.72% on a 15 year fixed. (These rates do not include add on points)

CLOSED SALES: 3/2/2009 - 3/8/2009
1317 Gunnison Ave: 3/2 - 1,813 sq/ft - $389,000

OTHER MARKET ACTIVITY: 3/2/2009 - 3/8/2009
New Listings: 6
Pending Sales: 4
Price Reductions: 21

PRESENTLY ON THE MARKET: 3/8/2009
Active Listings: 285
Under 100K: 11
100K - 199,999: 50
200K - 299,999: 92
300K - 399,999: 41
400K - 499,999: 20
500K - 599,999: 14
600K - 699,999: 26
700K - 799,999: 6
800K - 899,999: 7
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 24

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.

2009-03-01T18:40:00.000-08:00

We got some good news last week regarding FHA mortgages. The loan limit for FHA financing was raised to $353,750 for most of Central Florida. One of the biggest benefits for buyers obtaining an FHA loan is the down payment required is only 3.5%. Most conventional loans are requiring at least 10% down, but 20% in many cases. Raising this limit will allow more buyers to get into a new home.

In College Park last week four properties went under contract. They were listed between $225,000 - $649,000.

Average mortgage rates rose last week to 5.07% on a 30 year fixed and remained the same at 4.68% on a 15 year fixed. (These rates do not include add on points)

CLOSED SALES: 2/23/2009 - 3/1/2009
103 E KING ST: 4/3 - 1,627 sq/ft - $163,000 *BO
4307 EDGEWATER DR: 2/1 - 999 sq/ft - $75,000 *BO
1437 YATES ST: 3/2 - 1,071 sq/ft - $160,000
611 BRYN MAWR ST: 2/1/1 - 1,126 sq/ft - $122,500 *BO

*BO = Bank Owned

OTHER MARKET ACTIVITY: 2/23/2009 - 3/1/2009
New Listings: 10
Pending Sales: 4
Price Reductions: 30

PRESENTLY ON THE MARKET: 3/1/2009
Active Listings: 284
Under 100K: 10
100K - 199,999: 52
200K - 299,999: 89
300K - 399,999: 40
400K - 499,999: 21
500K - 599,999: 14
600K - 699,999: 28
700K - 799,999: 6
800K - 899,999: 6
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 20

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.

2009-02-23T03:47:00.000-08:00

I have some positive news this week! Last week NINE properties went under contract in the 32804 zip code! We haven't see that in awhile. The range of homes that went under contract was pretty wide, $82,500 - $799,000. Several of my listings had showings over the weekend, some multiple. Could be a fluke, but let's hope buyers are gaining a bit of confidence with what the government is trying to do to stimulate the economy. Still too early to say.

Average mortgage rates fell last week to 5.04% on a 30 year fixed and 4.68% on a 15 year fixed. (These rates do not include add on points)

CLOSED SALES: 2/16/2009 - 2/22/2009
1322 READING DR: 3/2 - 1,770 sq/ft - $223,900 *BO
1785 TURNBERRY TER: 3/2/1 - 1,991 sq/ft - $264,000

*BO= Bank Owned

OTHER MARKET ACTIVITY: 2/16/2009 - 2/22/2009
New Listings: 7
Pending Sales: 9
Price Reductions: 20

PRESENTLY ON THE MARKET: 2/23/2009
Active Listings: 282
Under 100K: 8
100K - 199,999: 50
200K - 299,999: 91
300K - 399,999: 38
400K - 499,999: 18
500K - 599,999: 15
600K - 699,999: 32
700K - 799,999: 7
800K - 899,999: 6
900K - 999,999: 3
Over $1,000,000: 14
Total Pending Sales: 23

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.

2009-02-15T16:07:00.000-08:00

I get asked this question a lot..."What is the average price per square foot homes are selling for in College Park these days?" It is a very difficult question to answer, which is why I usually don't like to throw out that number. There are so many factors when looking at price per square foot. For example (and this is just one), the larger the home, the lower the price per square foot. So a 1,000 square foot bungalow is going to sell at a much higher price per square foot than a 2,800 square foot house. An appraiser will only use comps within 200 square feet up or down. But, if you MUST know, the average price per square foot on the sold homes during the past 6 months has been $170.77. The highest was $280.68 and the lowest was $87.01. There are a whole lot of variables in between.

Last week two properties went under contract in the 32804 zip code, one house listed at $460,000 and one at $199,900. There was one closed sale (see below).

Average mortgage rates fell last week to 5.16% on a 30 year fixed and 4.81% on a 15 year fixed.

CLOSED SALES: 2/9/2009 - 2/15/2009
1228 EDWARDS LN: 3/1 - 1,270 sq/ft - $222,000

OTHER MARKET ACTIVITY: 2/9/2009 - 2/15/2009
New Listings: 10
Pending Sales: 2
Price Reductions: 23

PRESENTLY ON THE MARKET: 2/15/2009
Active Listings: 289
Under 100K: 9
100K - 199,999: 51
200K - 299,999: 95
300K - 399,999: 38
400K - 499,999: 17
500K - 599,999: 16
600K - 699,999: 32
700K - 799,999: 8
800K - 899,999: 5
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 17

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.

2009-02-09T03:32:00.000-08:00

When I noticed both of the closed sales last week were condos, I decided to check how many condos/townhouses sold in College Park over the past 6 months. Out of the 94 closed sales, 10 were condos or townhomes. At that rate, with 64 active condo/townhouse listings, we have just over a 3 year supply of condos for sale, compared to a 15 month supply of single family homes.

Last week three properties went under contract in the 32804 zip code, two houses listed in the low-mid 400's and one at $249,000. There were 2 closed sales (see below).

Average rates last week rose to 5.25% on a 30 year fixed, 4.92% on a 15 year fixed. Bankrate.com polled industry experts last week and found that 50% feel rates will come down in the next 30-45 days.

CLOSED SALES: 2/2/2009 - 2/8/2009
2305 EDGEWATER DR #1414: 1/1 - 914 sq/ft - $157,500 (Wellesley condo) foreclosure
1204 MAURY RD #1204: 2/2 - 1,283 sq/ft - $200,000 (condo)

OTHER MARKET ACTIVITY: 2/2/2009 - 2/8/2009
New Listings: 9
Pending Sales: 3
Price Reductions: 22

PRESENTLY ON THE MARKET: 2/8/2009
Active Listings: 287
Under 100K: 11
100K - 199,999: 48
200K - 299,999: 99
300K - 399,999: 36
400K - 499,999: 16
500K - 599,999: 14
600K - 699,999: 31
700K - 799,999: 10
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 17

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.

2009-02-02T03:51:00.000-08:00

Our rate of pre-foreclosure and bank owned properties for sale is on the rise, with 44 of the 283 active listings in that situation. We are starting to see investors enter the market once again, which is one of the reasons most of the sales lately are under $250,000. Aside from first time home buyers, investors are buying properties at prices that will allow rental rates able to sustain positive or break even cash flow.

Last week five properties went under contract in the 32804 zip code, three houses listed between $189,900 - $225,000 and two condos at the Wellesley listed at $290,000and $425,000. There were 3 closed sales (see below).

Average rates last week were 5.10% on a 30 year fixed, 4.8% on a 15 year fixed.

CLOSED SALES: 1/26/2009 - 2/1/2009
907 GOLFVIEW ST: 2/1 - 1,188 sq/ft - $250,000
3513 FAIRWAY LN: 3/1 - 1,398 sq/ft - $157,600
2218 MUSSELWHITE AVE: 3/2/1 - 1,608 sq/ft - $266,500

OTHER MARKET ACTIVITY: 1/26/2009 - 2/1/2009
New Listings: 7
Pending Sales: 5
Price Reductions: 18

PRESENTLY ON THE MARKET: 2/1/2009
Active Listings: 283
Under 100K: 10
100K - 199,999: 46
200K - 299,999: 99
300K - 399,999: 30
400K - 499,999: 19
500K - 599,999: 16
600K - 699,999: 31
700K - 799,999: 10
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 18

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.

2009-01-25T16:54:00.000-08:00

Last week two properties went under contract in the 32804 zip code, a house listed at $135,000 and a condo listed at $149,900. There were no closed sales.

Mortgage rates rose slightly last week to an average 5.12% on a 30 year mortgage, ending a 5 week rate slide. The week prior, average rates on a 30 year mortgage were 4.96%. They haven't been that low since 1971, when Freddie Mac first started tracking rates.

CLOSED SALES: 1/19/2009 - 1/25/2009
There were no closed sales last week.

OTHER MARKET ACTIVITY: 1/19/2009 - 1/25/2009
New Listings: 12
Pending Sales: 2
Price Reductions: 19

PRESENTLY ON THE MARKET: 1/25/2009
Active Listings: 290
Under 100K: 10
100K - 199,999: 44
200K - 299,999: 102
300K - 399,999: 35
400K - 499,999: 19
500K - 599,999: 18
600K - 699,999: 28
700K - 799,999: 11
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 16
Total Pending Sales: 15

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.

2009-01-19T05:25:00.000-08:00

So why aren't the higher end listings moving you ask?

There are many factors, however, I believe two are top of the list. One, the most obvious, is gone are the days when the average move up buyer could go ahead and close on their new house while waiting for their old house to sell. With inventory moving so slowly, this is going to affect the market for awhile.

Another factor, I believe, is that while rates are very low on a conforming loan, rates on a jumbo loan (any loan over $417,000) can be almost 2 points higher. Down payment requirements are much higher as well. I consulted with Scott Fosgate at Edgewater Financial and he told me that the down payment requirement on a jumbo loan is now 25%-30%. Throw closing costs in there, and that's a lot of cash! Let's hope the powers that be recognize this as a problem and will loosen the strings on jumbo loans.

Last week in College Park 4 properties went under contract, priced between $74,900 and $325,000. There were 2 closed sales (see below).

CLOSED SALES: 1/12/2009 - 1/18/2009
1113 W NEW HAMPSHIRE ST: 3/2 - 1,396 sq/ft - $249,500
3500 GRANT BLVD: 3/2 - 1,270 sq/ft - $199,900

OTHER MARKET ACTIVITY: 1/12/2009 - 1/18/2009
New Listings: 8
Pending Sales: 4
Price Reductions: 20

PRESENTLY ON THE MARKET: 1/19/2009
Active Listings: 277
Under 100K: 9
100K - 199,999: 42
200K - 299,999: 97
300K - 399,999: 32
400K - 499,999: 20
500K - 599,999: 18
600K - 699,999: 21
700K - 799,999: 14
800K - 899,999: 5
900K - 999,999: 3
Over $1,000,000: 16
Total Pending Sales: 16

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.

2009-01-12T06:39:00.000-08:00

Here in College Park things we a bit slow last week. We had 2 homes go under contract, one listed at $85,500 and one for $225,000. There were two closed sales (see below).

As you can tell, if you've been following the market through my updates, the largest percentage of homes moving are in the lower price brackets. Occasionally we are seeing a few higher end listings go under contract, but they are few and far between right now. More first time buyers are jumping into home ownership, but the move up buyers have a house to sell first, which is therefore resulting in fewer sales in those price ranges.

Within all price ranges, standing out with regard to condition and price is key. If you or someone you know is considering selling in the near future, getting the property in tip-top condition will be key. Curb appeal is HUGE in College Park, as well as move-in condition.

Have a great week and, as always, let me know if you have any questions about what I'm seeing in this market.

CLOSED SALES: 1/5/2009 - 1/11/2009
1312 W YALE ST: 3/2 - 1,471 sq/ft - $160,000
2509 FORMOSA AVE: 2/1 - 850 sq/ft - $150,000

OTHER MARKET ACTIVITY: 1/5/2009 - 1/11/2009
New Listings: 6
Pending Sales: 2
Price Reductions: 27

PRESENTLY ON THE MARKET: 1/12/2009
Active Listings: 277
Under 100K: 10
100K - 199,999: 40
200K - 299,999: 96
300K - 399,999: 33
400K - 499,999: 21
500K - 599,999: 18
600K - 699,999: 22
700K - 799,999: 13
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 16
Total Pending Sales: 17

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.

2009-01-04T16:08:00.000-08:00

CLOSED SALES: 12/29/2008 - 1/4/2009
1425 LANTRY CT: 2/2 - 1,173 sq/ft - $180,000
1015 ARTHUR AVE: 3/2 - 1,359 sq/ft - $149,350
916 MAXWELL ST: 2/2 - 1,755 sq/ft - $286,900
712 N RIO GRANDE AVE: 3/2 - 2,399 sq/ft - $290,000

OTHER MARKET ACTIVITY: 12/29/2008 - 1/4/2009
New Listings: 4
Pending Sales: 1
Price Reductions: 5

PRESENTLY ON THE MARKET: 1/4/2009
Active Listings: 276
Under 100K: 10
100K - 199,999: 35
200K - 299,999: 98
300K - 399,999: 35
400K - 499,999: 22
500K - 599,999: 17
600K - 699,999: 23
700K - 799,999: 13
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 15
Total Pending Sales: 18

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.

2008-12-29T06:05:00.000-08:00

CLOSED SALES: 12/22/2008 - 12/28/2008
1222 AUDUBON PL: 2/2 - 1,967 sq/ft - $399,500 (short sale)
724 LANGSTON CT: 3/2 - 1,016 sq/ft - $183,000
627 W KING ST: 2/1 - 1,565 sq/ft - $230,000
2320 DEPAUW AVE: 3/2 - 1,783 sq/ft - $300,400

OTHER MARKET ACTIVITY: 12/22/2008 - 12/28/2008
New Listings: 4
Pending Sales: 1
Price Reductions: 5

PRESENTLY ON THE MARKET: 12/29/2008
Active Listings: 283
Under 100K: 10
100K - 199,999: 35
200K - 299,999: 102
300K - 399,999: 39
400K - 499,999: 22
500K - 599,999: 14
600K - 699,999: 25
700K - 799,999: 12
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 16
Total Pending Sales: 20

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.

2008-12-22T04:13:00.000-08:00

CLOSED SALES: 12/15/2008 - 12/21/2008
735 CORDOVA DR: 2/1 - 849 sq/ft - $175,000
3535 LAKE SARAH DR: 4/4 - 3,688 sq/ft - $745,000
121 E STEELE ST: 3/2/1 - 1,608 sq/ft - $215,000
804 W YALE ST: 2/2 - 1,561 sq/ft - $258,000
1834 GERDA TER: 2/1 - 1,250 sq/ft - $280,000
901 W PRINCETON ST: 2/1 - 1,134 sq/ft - $145,500 (Bank Owned)

OTHER MARKET ACTIVITY: 12/15/2008 - 12/21/2008
New Listings: 13
Pending Sales: 5
Price Reductions: 12

PRESENTLY ON THE MARKET: 12/21/2008
Active Listings: 289
Under 200K: 48
200K - 299,999: 103
300K - 399,999: 39
400K - 499,999: 23
500K - 599,999: 14
600K - 699,999: 24
700K - 799,999: 14
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 16
Total Pending Sales: 23

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.

2008-12-14T18:40:00.000-08:00

CLOSED SALES: 12/8/2008 - 12/14/2008
1524 ANCHOR CT: 4/2/2 - 2,520 sq/ft - $365,000
906 W PRINCETON ST: 2/1 - 1,043 sq/ft - $208,000 (short sale)
1112 NAPLES DR: 3/2 - 1,216 sq/ft - $159,900

OTHER MARKET ACTIVITY: 12/8/2008 - 12/14/2008
New Listings: 4
Pending Sales: 5
Price Reductions: 16

PRESENTLY ON THE MARKET: 12/14/2008
Active Listings: 287
Under 200K: 49
200K - 299,999: 100
300K - 399,999: 40
400K - 499,999: 22
500K - 599,999: 13
600K - 699,999: 24
700K - 799,999: 16
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 15
Total Pending Sales: 25

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.

2008-12-07T18:14:00.000-08:00

CLOSED SALES: 12/1/2008 - 12/7/2008
1308 W YALE ST: 2/1 - 900 sq/ft - $203,000
1121 NAPLES DR: 2/1 - 792 sq/ft - $123,000

OTHER MARKET ACTIVITY: 12/1/2008 - 12/7/2008
New Listings: 4
Pending Sales: 1
Price Reductions: 20

PRESENTLY ON THE MARKET: 12/7/2008
Active Listings: 293
Under 200K: 51
200K - 299,999: 100
300K - 399,999: 43
400K - 499,999: 23
500K - 599,999: 13
600K - 699,999: 23
700K - 799,999: 18
800K - 899,999: 4
900K - 999,999: 4
Over $1,000,000: 14
Total Pending Sales: 23

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 on any of the above information, commercial property or vacant land.

2008-11-30T17:17:00.000-08:00

CLOSED SALES: 11/24/2008 - 11/30/2008
244 W WINTER PARK ST: 3/3 - 1,710 sq/ft - $248,000
2305 EDGEWATER DR #1716 (The Wellesley): 2/2 - 1,115 sq/ft - $299,000
800 VASSAR ST: 3/2 - 1,362 sq/ft - $200,000
105 IVANHOE BLVD (Lake Ivanhoe): 3/2/1 - 4,184 sq/ft - $800,000

OTHER MARKET ACTIVITY: 11/24/2008 - 11/30/2008
New Listings: 3
Pending Sales: 1
Price Reductions: 11

PRESENTLY ON THE MARKET: 11/24/2008
Active Listings: 297
Under 200K: 46
200K - 299,999: 107
300K - 399,999: 45
400K - 499,999: 22
500K - 599,999: 13
600K - 699,999: 23
700K - 799,999: 18
800K - 899,999: 4
900K - 999,999: 3
Over $1,000,000: 15
Total Pending Sales: 26

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 on any of the above information, commercial property or vacant land.