NewConstruction - jkhatri.com

When to Consider a New Construction Home

Low interest rates and high demand mean a housing shortage for first time home buyers. With multiple offers, high quality, affordable homes aren’t staying on the market for long. However, new construction homes may be able to help close the gap between available homes and buyers in the market.

Pros: Buying a new construction home reduces the chances of running into a bidding war and often allows you to pick your lot and customize some of the features. You also get a brand new, turn-key home that won’t need additional renovations or repairs before you can move in. Most also come with extended builder’s warranties and manufacturer warranties that will help protect your investment.

Cons: One of the downsides of purchasing a new construction home is that it may be weeks or months before construction is complete, depending on how early in the building process you purchase. Also, you will most likely have to place a deposit to claim your home well before construction is complete.

Before you buy a new construction home, make sure it was built by a company with a good reputation and review the terms of the warranty to make sure you’re covered if something goes wrong early in your homeownership. You should also be able to tour a model home or existing property to see the quality of the build before you buy.

Orlando Housing Market Snapshot – May 2016

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Median Price

*The median price of all existing homes combined sold in May 2016 — $203,000 — is a 12.15 percent increase from the $181,000 median price recorded in May 2015, and a 5.73 percent increase compared to April 2016.

*The median price for “normal” existing homes sold in May is $214,000, an increase of 7.00 percent from the median price of “normal” existing homes in May 2015. Read more

Orlando Housing Market-November 2016

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Orlando Housing Market-November 2016  Median Price

*The median price of all existing homes combined sold in November 2016 — $200,000 — is an 8.70 percent increase from the $184,000 median price recorded in November 2015, and is 2.44 percent below the October 2016 median price of $205,000.

*The median price for “normal” existing homes sold in November is $210,000, an increase of 5.00 percent from the median price of “normal” existing homes in November 2015. Read more

Orlando Housing Market Snap Shot-October 2016

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Median Price

*The median price of all existing homes combined sold in October 2016 — $205,000 — is a 13.95 percent increase from the $179,900 median price recorded in October 2015, and was unchanged from the September 2016 median price of $205,000. Read more

Orlando Housing Market Snapshot – August 2016

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Median Price

*The median price of all existing homes combined sold in July 2016 — $205,383 — is a 12.04 percent increase from the $183,310 median price recorded in July 2015, and a 0.78 percent decrease compared to June 2016.

*The median price for “normal” existing homes sold in July is $217,000, an increase of 6.90 percent from the median price of “normal” existing homes in July 2015. Read more

Orlando Housing Market Snapshot-September 2016

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Orlando home sales jump 7 percent; median price rises 14 percent as inventory continues downward slide

Sales of homes in Orlando experienced a year-over-year increase of 7.32 percent for the month of August, reports the Orlando Regional REALTOR® Association. The jump occurred amid yet another double-digit decrease in inventory, which continues to contribute to the area’s sustained rise in median price. Read more

Orlando Housing Market Snapshot – June 2016

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Median Price

*The median price of all existing homes combined sold in June 2016 — $207,000 — is a 15.00 percent increase from the $180,000 median price recorded in June 2015, and a 1.97 percent increase compared to May 2016.

*The median price for “normal” existing homes sold in June is $215,000, an increase of 4.88 percent from the median price of “normal” existing homes in June 2015. Read more

Disney sells more Flamingo Crossings land

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Disney-owned land just west of Walt Disney World at the growing Flamingo Crossings development has a new owner.

Orlando Hotel Groups LLC, a Pembroke Pines-based company doing business as Orlando Gateway Hotel Group LLC, purchased more than 7 acres of a larger 158-acres parcel of land from Flamingo Crossings LLC, an entity related to The Walt Disney Co., said county records. The sale price on the transaction was $9.95 million, based on deed taxes to the county. Read more

Orlando Housing Report-March 2016

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Median Price

*The median price of all existing homes combined sold in March 2016 — $195,000 — is a 10.12 percent increase from the $177,075 median price recorded in March 2015, and a 5.41 percent increase compared to February 2016.

*The median price for “normal” existing homes sold in March is $203,970, a tiny decrease of 0.01 percent from the median price of “normal” existing homes in March 2015. Read more

Orlando Housing Report – February 2016

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Orlando median price continues upward trek
as buyer demand for homes outstrips inventory in February

The inventory of Orlando homes available for purchase took another tumble in February, slowing year-over-year sales by 5 percent and driving a double digit increase in median price. Read more