Heather the Realtor - Orlando Area's Top Real Estate News

Lake Mary Homes are for sale, but buyers, especially first time home buyers cannot buy them. Why? Because investors are back in the market. The chosen method of payment for Lake Mary investors is Cash and in this market cash is KING. Many first time home buyers find themselves scrambling to take advantage of the $8000 first time home buyer tax credit, only to be meet with little inventory and heavy competition on those homes, generally beat out by an investor willing to pay cash for the home. Lowering the risk for most bank owned properties.

First Time Home Buyers are frustrated and with the scrabble comes the necessity to make multiple bids on different properties before one sticks. One client of mine had to submit 8 offers before we finally got her the house she wanted and won the deal. Unfortunately I think this created frenzy in the market is a very bad thing. There are many foreclosed homes not in our inventory that were held back because of the moratoriums and to "Not Flood the market" as most experts put it. However what they did was again create a false sense of supply and demand. As we come upon the Holiday season the unspoken moratoriums will be in place lowering our inventory even more.

If you are looking to purchase one of those lake mary homes there are some rules to keep in mind.

• Dont submit low ball offers on homes that just come on the market, Go with your highest and best off the bat, you normally only get the one shot
• You will need to make you deal look as good to the bank as possible,
• Dont ask for closing costs and if you must up your asking price even if it means going over asking, but becareful a too high of an offer and the bank will worry if the home will even appraise an even bigger issue in our market.
• Keep your time for inspections very low and dont ask for home warranties or other extras

Orlando Banked Homes for Sale seem to be selling to inventors like hot cakes these days. I have put together a list of Bank Owned Homes that we have forsale that are either new on the market or not yet open to the public, but you will have first opportunity to preview them here.

Homes Not Yet Listed

808 Fruitland Dr Deltona, FL

1312 Fernendina Dr Deltona, FL

515 Howard Dr Orange City, FL

1749 Cunningham Ct St. Cloud, FL

7212 Halton Windermere, FL

4838 Muir Village Orlando, FL

12956 New York Woods Cir Orlando, FL  (Auction)

5200 1st Street Orlando FL (Auction)

919 S Solandra Orlando FL

Properties New on the Market

1748 Burnham Ct Clermont FL  Priced at $95,000

6800 Ravenna Orlando, FL   Priced at $60,000

8502 Dot Lane Orlando, FL (Auction) Priced at $50,000

Vacant Land 255 W4th Street Priced at $22,500

221 Colony Dr Casselberry, FL  Priced at $39,900

715 Quail Hollow Dr Orlando, FL Priced at $45,900

986 Turkey Hollow Cir Winter Springs FL  Priced at $199,900

530 Hemingway Ct  Deland FL  Priced at $70,000

State Rd 40 Commercial Vacant Land  Priced at $224,500

Pizza Restaurant 1121 New York Ave St. Cloud  Priced at $299,900 (includes all equipment)

If you would like additional information on any of these properties please contact me at Heather@HeatherTheRealtor.com or 407 810 6304

Orange County NSP stands for Neighborhood Stabilization Program. The program is designed to help purchase foreclosure properties that might need some rehabilitation and sell them to home buyers using state funds. These homes are then eligible for grant funds from the county to go towards the home buyers down payment. They fall in the same guidelines as the Orange County SHIP. 

The program has two options to increase the number of homes for sale in Orange County made available to those buyers needing Down Payment Assistance.

Option A:

These homes will be purchased by the Orange County Government in their designated areas. They will then rehab the homes bringing them up to todays standards and partnered with Progress Energy to bring you Energy Efficient Homes. Then those buyers who are eligible and are represented by a Realtor can purchase one of these properties and receive:

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            1. Up to $35,000 in Down Payment Assistance
            2. And All buyers closing costs paid for by Orange County (excluding prepaids)