Real Estate
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…
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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,…
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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…
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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…
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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,…
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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…
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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…
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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…
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Realtors’ CEO: Real-estate market is on the rebound | Commentary
The word “recession” conjures up thoughts of foreclosures, for sale signs and half-constructed neighborhoods. We are living in uncertain economic times once again, triggering memories of 2008. But unlike the Great Recession, this is a medical crisis — not a real-estate crisis. Now is not the time to panic, but to understand the landscape and…
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$213.2M worth of housing proposed in popular area
A 3.5-mile stretch along U.S. Highway 17-92 in Seminole County has attracted sizable development interest in recent months. Three proposed projects totaling more than 1,100 apartment and townhome units may bring more residents to this area, furthering demand for more retail and other services. These projects combined may cost more than $213.2 million to build,…
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