Orlando lawyers prep for flood of evictions, foreclosures

Central Florida attorneys are prepping for a seemingly inevitable wave of evictions and foreclosures that will impact businesses and residents and clog the court system. That’s because shuttered businesses and high unemployment caused by the coronavirus pandemic have people people here and across the nation falling behind on their mortgage and rent payments. In addition,…

Read More

Winter Park lakeside home fetches week’s highest price tag

The new residents of Orlando’s most expensive residential property sold last week can catch views of the sunset over Lake Osceola from their master bedroom.  A 5,345-square-foot Winter Park home sold for $3.75 million on July 13, making it the priciest local home sale for the week ending July 18, according to the Orlando Regional…

Read More

Orlando homebuyers line up as demand surges

Christine Elias hasn’t eaten dinner before 10:30 p.m. for five straight nights.  In fact, the Winter Park-based Realtor has worked 15 consecutive days. That’s because demand for local homes is incredibly strong right now, and she’s working to keep up, she told Orlando Business Journal. “It’s nuts. Buyers are extremely active. They’re frenzying.”  While the coronavirus pandemic…

Read More

Orlando residential real estate market rebounds in June

The arrival of summer brought a warming housing market to Orlando.  Local home sales were up nearly 46% from May to June, according to a July 15 report from the Orlando Regional Realtor Association, reversing two consecutive months of declining sales.  Residential rally  Sales are still down year-over-year as the coronavirus pandemic slows the economy,…

Read More

Luxury Listings Making Comeback After a Sharp Spring Collapse

Zillow is reporting this week that a rush of high-end homes hit the U.S. market in June 2020, reversing a trend that saw them drop the farthest and fastest when the coronavirus pandemic hit earlier this year.In April and May, new listings of the most expensive homes slowed severely, dropping by about half compared to…

Read More

New townhomes planned near Valencia College

Local builder Park Square Homes plans to construct 60 townhomes near Valencia College East Campus.  The homes will go up off Valencia College Lane in Orlando, according to plans filed with the state. Orlando-based Park Homes is listed as the developer, while Hamilton Engineering & Surveying Inc., which operates an Orlando and Tampa office, is…

Read More

Mortgage Rates in U.S. Hit Another Historic Low in Early July

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 3.03 percent in the U.S. It is the lowest rate in the survey’s history dating back to 1971. “The summer is heating up as record low mortgage rates continue to spur homebuyer demand,” said Sam Khater, Freddie Mac’s Chief Economist. “However,…

Read More

Business accelerates in Orlando for home sales tech firms

Michael Gerrity describes the real estate market in March — the onset of the pandemic in the U.S. — as an “abyss.”  But in the months since, Gerrity’s online real estate listings firm hasn’t just avoided the woes created by the pandemic. In fact, the company, which has its East Coast headquarters in Orlando, has reached…

Read More

Orange County approves a way to unsnarl housing holdup

Eighteen proposed housing developments stalled by a contradiction between Orange County’s rezoning process and a state law now have a path forward.  The Orange County Board of County Commissioners on July 7 unanimously approved a change to the county’s comprehensive plan and voted to abate a county ordinance dealing with school capacity. This temporarily pauses…

Read More

Orange County to vote on pausing some building permit fees

It may become more affordable to build in Orange County — for a limited time — in an effort to spur more construction activity. The Orange County Board of County Commissioners will weigh on July 7 offsetting $10 million in building permits for a six-month period, according to county documents. And developers may be able…

Read More