Posted on 09/10/2010 5:32:37 PM PDT by george76
For the first time in more than a decade, the median price of a home in Orlando has dropped to less than $100,000... Sales prices were down 22 percent from a year earlier.
The last time existing houses were so cheap in Orlando was May 1998, when a mid-range home cost $98,984. In comparison, it was just three years ago when median prices peaked at $264,436...
more than 70 percent of August sales were distress properties. " With foreclosures and short sales dominating the market, the median price continues to be lowered," said Kathleen Gallagher McIver, Re/Max Town & Country Agent and chairman of the board for the real estate association ...
"I'm not sure we've hit rock bottom,"
(Excerpt) Read more at orlandosentinel.com ...
Great time to buy!
Yes it is, but watching our government destroy our economy to the place where under $100k homes are available down there, makes me quite angry.
If I had bought a home down there for $225k a year ago, I’d be livid right now.
I don’t think the Democrats have any idea how bad that first week in November is going to be.
Tell me about it.
I truly hope that this November will drive them from power, or at least deprive them of the ability to use it with impunity.
Also Orlando has one of the worst unemployment rates in the country, so even cheap homes may sit vacant.
It is what happens when you have a local economy based on tourism, service and contruction/real estate industries.
I live north of Orlando and am trying like heck to get the heck out of Florida, no jobs, no economic future as it currently stands. It is a great place to retire or move to if you have the money, otherwise not so much.
I know it’s not possible, but it would be a real hoot to see the house about 300 Republican and 150 Democrat, the Senate about 65 Republican and 35 Democrat.
I’m not sure what the max possible is this year, but I’m certain it’s far south of that.
Too damned bad.
In my area homes are down over fifty percent since the democrats took control of the government.
So if your property was worth $550 K it is now $275K. Anyone have any idea how much wealth was lost in home real estate in the last two years? It has to be in the trillions.
I was thinking about that about a half an hour ago.
You know, remember when Perot mentioned that pronounced sucking sound? Who’s laughing now?
Hmmmmm, it is tempting to have a winter home close to Disney. Something small and safe in a decent neighborhood. Tempting, mighty tempting.
Housing Fades as a Means to Build Wealth, Analysts Say
$6 trillion of housing wealth lost since 2005
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