What has been happening in the Orlando, FL real estate market. Specifically zip code 32835

Asked by Vikash Shah, 48098 Sun Nov 25, 2007

- Are there many foreclosures happening in this area?
- For investment purposes, how is the rental income/market doing?
- Will people want to rent in this area for years to come?

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5
Paula Bean, , Orlando, FL
Sun Nov 25, 2007
Florida is on the top of the list of states for Foreclosures right now, which means rentals will be in demand and prices will be low.

If you are an investor who is looking for a long term solution - you know the time to buy is when prices are low.... just don't expect a 'quick flip' and you'll do well.

Florida, especially zip code 32835 is so close to the Disney area, Dr. Phillips/Windermere and International Drive, that if you can buy something now at a good price, hold on to it, you will make money.

When would you like to buy stocks? When they are at their lowest or highest? When do you want to sell? when the market is low or high? Real estate is cyclical, you just have to look at any investment as a quick or long term project.

Florida is also a great relo market, second home market, Senior Market, luxury home market, unemployment isn't as high as other States, so although there are those having their problems - as an investor, the time to invest in real estate is NOW - WHILE prices are low, but expect to hold on to it for at least 5+ years to see a profit. To pay closing costs when buying and selling, and perhaps considering a 10-31 exchange, you need to speak with a Financial Advisor to see if this would be the highest and best use of your money at this time of your life.

Hope this helps!
1 vote
Condo Metrop…, Agent, Orlando, FL
Wed Sep 24, 2008
Yes there are many foreclosures but I disagree that it's not possible to cashflow. Buy a short sale or REO and it's entirely possible to cashflow right now. See our blog for all the lastest in the Orlando condo market, including MetroWest. But yes, MetroWest has been a rental area for some time and is likely to remain one while these condos are in cheap and plentiful supply.
0 votes
Jon, Home Buyer, north slope
Fri Nov 30, 2007
There are a lot of foreclosures in the area especially in the apartment conversions such as the Hamptons, Central Park, etc. because they are impossible to sell at the moment. Many of these conversions are for rent because they were mostly bought by investors during the peak around 2005. So the rental market is flooded out there along with all the apartments in Metrowest. One indication is that the apartment industry is doing really well in the area and demand is rising so perhaps more renters are entering the market. The rent prices have not caught up to prices to buy yet so experts are predicting rising rent prices in the next few years. The only problem is that no one can buy a
0 votes
Hojin Chang, Agent, Orlando, FL
Fri Nov 30, 2007
There are a lot of foreclosures in the area especially in the apartment conversions such as the Hamptons, Central Park, etc. because they are impossible to sell at the moment. Many of these conversions are for rent because they were mostly bought by investors during the peak around 2005. So the rental market is flooded out there along with all the apartments in Metrowest. One indication is that the apartment industry is doing really well in the area and demand is rising so perhaps more renters are entering the market. The rent prices have not caught up to prices to buy yet so experts are predicting rising rent prices in the next few years. The only problem is that no one can buy a property in the Metrowest area or anywhere else in Central Florida, get a mortgage and have a positive cash flow from renting it out. This is part of the problem in our market along with the sub prime mess and most importantly an over supply of homes on the market. Hope this helps.
Web Reference:  http://sworlandoscoop.com
0 votes
Emily Erekuff, Home Owner, Menifee, CA
Tue Nov 27, 2007
Hi Vikash,

Trulia currently shows 95 properties currently in foreclosure in Orlando and you can view these properties if you access the link below.

Best Wishes,

Emily Gibson
Customer Service Representative
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