Orlando Real Estate News

LONGWOOD, Florida- It could be your next dream house. Homes once selling in the millions are going for considerably less. One particular Longwood home, which we toured on Thursday, sold for $1.1 million a couple years ago, said Chris Myers with Orlando Property Group. Today it's selling for less than half that.

"This house right now, we've got on the marker for $349,900," said Myers.

Plummeting property values are the big reason. Myers is an investor who bought the house that was in foreclosure. This home, which sits in the exclusive, gated Sweetwater Club subdivision in Longwood, is about 4,000 square feet.

Myers admitted that it needs some work done. "It's a dated house with four bedrooms, three baths and a pool," he said. "It's for the person who has a vision and knows that once they buy this house, they are going to get a great investment and also going to get equity when they buy the property."

It's foreclosed homes like this one that are now being snapped up by bargain hunters. The housing market right now is considered a "catch 22" right now by many. It's good for the buyer, but tough for the seller.

The one silver lining however is that homes and condominiums sold in Orlando today are up compared to this time last year. If you want to upgrade, now is the time to do it. Local real estate experts said the market is probably at its lowest.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

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If you want to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

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