Not sure!

Most of the Short Sales, Bank- Owned homes are located in subdivisions that were built after 2005- 2006 (at the peak) .

This Newer Communities are beautiful, master-planned developments with several parks, club house, fishing ponds, biking and walking trails, community pool, fitness, shopping, brand new and excellent schools .

For instance, I am now short selling this charming home http://www.tourfactory.com/527505 built in 2005.
In 2005 the same property was bought for $ 248,400dlls,
by 2006 its value went up to 425,000dlls,
and now you can get it approximately for $185,000dlls
and that includes improvements like extended screened porch, crown molding, granite, tile, etc...

If you need more information please let me know.

Best Regards,

Avi Maganda, Realtor
Charles Rutenberg Realty
ph 321) 287-5340
fax 866) 518-5746
avi@Orlando-Relo.com

Prices have definitely fallen to pre bubble levels from what I see, but will most likely need to fall even further. There are SO many foreclosures, short sales and bank owned sales in this area (particularly the summerport neighborhood) that the average sales price is vastly diminished. Homes in Windermere proper which would have sold for 900,000+ a few years back, are now in the 400-600 range, and they are not selling. It seems that prices in downtown old windermere are fair when considering what they were, and hopefully will be in the future, but they still look high compared to all the short/bank sales. When sellers are forced to compete with the staggering number of bank sales, they have to drop even further.