Decrease in median price increases affordability for first-time homebuyers.

(May 12, 2008 – Orlando, FL) Orlando’s housing marketing for the second month experienced a month-over-month increase in the number of home sales, an increase in the number of pending sales contracts, and a decrease in the amount of inventory – all indicators of a continued, although admittedly glacially paced, shift toward a market balanced between buyers and sellers.
The monthly statistical reports released by the Orlando Regional Realtor® Association also revealed an across-the-board, four-month trend indicating decreases in Orange and Seminole counties’ month-to-month sales comparison percentages. For example, Orange County sales were down by 28 percent when comparing April 2008 to April 2007; 40.16 for March; 44.28 percent for February; and 49.23 percent for January.
The median sales price of homes in the Orlando area decreased by 4.09 percent ($9,000) from $220,000 in March 2008 to $211,000 in April 2008. The median sales price for April 2008 is 12.85 percent ($31,100) below that of April 2007 ($242,100).
(Orlando Regional Realtor Association Info)

Fort Myers, Fl: April Home Sales Up 32% From Last Year

The Realtor Association of Fort Myers, Florida reports that a total of 684 existing single family houses were sold in April. That's a 32 percent increase in the number of single family houses sold compared to last April. In addition, 1176 single family homes are pending, reflecting a 47.2 percent upswing since April, 2007.

The median sales price is $180,000, up 21 percent from 2003 levels, but down from year ago by 16 percent. Moderately priced inventories are moving as buyers are taking advantage of the lower interest rates and the affordable property values in the market. Based on the 4-month trend, it is anticipated that existing single family home sales will out-pace 2007 sales by 30 percent. "It is apparent that buyers are seeing the value of homes in Southwest Florida and are entering the market at increasing numbers."- Jenny Moorhead, Amerivest Realty of Lee Island Coast.

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Naples, FL: Home sales, pending home sales ...

Lower prices have lured back buyers, who are feeling now is the time to buy. In April, Realtors in the Naples area had their busiest month of the year.

Overall, home sales rose 6 percent to 472, compared to 445 last year, according to a monthly report by the Naples Area Board of Realtors (NABOR).

Meanwhile, pending home sales increased 25 percent to 616, from 494 a year ago. "I think we've hit bottom in Naples and that comes from the economists who really study this," said Arlene Carozza, a Realtor and NABOR's president.

In an interview with Mad Money host Jim Cramer on CNBC earlier this week, Bob Toll, CEO of homebuilder Toll Brothers, described the west coast of Florida as its "one ray of hope." "Naples is back. It's amazing," he said, adding that his company is now out of spec inventory here and its prices are starting to rise in this market.

According to the NABOR statistics, the median price for all homes in the Naples area dropped more than 23 percent last month to $300,000, from $390,000 a year ago. Joe Ballarino, president of Amerivest Realty in Naples, said a spike in foreclosures and short sales _ sales made for less than the bank is owed _ have driven prices down faster in this market.

In April, the median price dropped to $258,000 for condos, and to $400,000 for single-family homes. "You have people walking away from properties and banks that just want to get their loan values and are taking less than what they are owed on the property," Ballarino said.

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Real Estate Buyers are Eco Aware

Orlando area Real Estate buyers are looking toward more Eco friendly homes.
Just outside downtown Winter Garden, on the south shore of Lake Apopka, sits the tiny town of Oakland. The sleepy rural enclave of 1,100, which was first settled more than a century ago, is now poised to make local history—at least in the realm of environmentally-friendly homebuilding.
Oakland Park, a new subdivision by Castle and Cooke, is the first Certified Green Community in Central Florida. The designation was awarded by the Florida Green Building Council.
Of course, that means all the homes in Oakland Park will be green. But it also means the entire project has been blessed by the council based on eight criteria ranging from site planning to landscaping.
"It’s something no other community in Orlando is doing," says Bob Hennen, vice president of sales and marketing for Castle and Cooke.
But others will likely follow suit. Green building, once a somewhat vague real-estate catch phrase, is now regarded by developers as good social policy and good business.
According to the latest research by the National Association of Realtors, 65 percent of buyers now view energy efficiency as an important consideration and 46 percent of buyers would prefer a green home.
Orlando Home Buyer Magazine

Market Takes Off On Lower Prices

Naples & Bonita Springs Florida - Pending sales have reached their highest levels since August of 2005, nearly three years ago; while median home prices are at four year low. They have hit month over month highs the last two months, with April sales even outpacing March sales, bucking the normal seasonal trend.

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