2014 has come and gone, this newsletter is loaded with the most comprehensive real estate recap on the internet dealing with Orlando real estateRon breaks down the national market, the Orlando housing market and then takes it a step further , breaking down the annual sales numbers for Windermere and Winter Garden. This edition also contains Ron’s 2015 housing predictions and the ever popular Rons Rant.. Take 15 minutes to become the most educated person in any circle of discussion involving real estate.
JUST THE FACTS
Unfortunately the Orlando MLS data is released over 30 days after it is actually available so I will be present November data here, which is traditional skewed on the lower end due to holiday season kickoff. But in the spirit of providing my readers with every amount of data that is relevant to Orlando, below is the November data, I have taken the liberty to break down Windermere and Winter Garden housing markets in full detail in other sections of this newsletter, for a comprehensive look at the year 2014.
Here are the November numbers as they shook out…
Median Sales Price: $165,000 6.5% increase from 11/13… 43% increase since 7/11 and 41 consecutive months of year to year increase !
Closed sales 2,243
Pending sales 6,163, 30% of which are short sales.
New Listing’s 3,138
New Contracts 2,341
Average closed interest rate 4.01%
Current sales pace equals 5.4 month supply
Average home sold for 95% of asking price, this is a decline in % from months past, mainly due to sellers with homes still on market after summer buying season are apt to take less than asking to sell in November.
Here are many useful links derived from ORRA MLS data, I provide these every newsletter for your easy access.
NATIONAL MARKET NEWS
National Median Sales Price $205,000 up 5% from 11/13
Americas Housing is now worth over 27.5 Trillion !
Closed sales… down 6% to 4.93 million
Current inventory 2.09 million for sale
5 month supply at current sales pace
Cash sales accounted for 25% of the sales in November
31% were first time home buyers !
average interest rate %4.o
6% of the sales were REO foreclosures
3% were short sales
Pending home sales report for November
FORECLOSURE NEWS
Total number of delinquent homes not in foreclosure 3.08 MILLION
Number of homes in pre foreclosure sale 829,000…. down 427,000 from 11/13
Foreclosure starts are at lowest levels since 2006 ! , 73,900…down almost 30% from 2013
The number of properties 30 days or more delinquent or IN foreclosure skyrocketed month-over-month by 300,000 (up to 3.91 million) but year-over-year took a big tumble (down by 580,000 since last November)
90 days or more past due but not in foreclosure increased from October to November by 62,000 (up to 1.16 million)
WINDERMERE MARKET UPDATE
Windermere is the town Ron the Realtor calls home. With over 15 years of high volume sales in zipcode 34786 , Ron the Realtor is considering by most as a leading expert of Windermere Real Estate.
2014 was a fast paced year for the Town Of Windermere with 854 residential units sold and closed in the twelve month span. 2 estates sold for over $4,000,000 !.
The breakdown of the data for all units sold in Windermere zip code 34786 for 2014:
| Status: Sold (854) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 2 | 1 | 1,022 | $144,900 | $72.79 | $110,000 | $23.95 | -60 | -5 | -5 | .1 | ||
| Max | 7 | 9 | 15,917 | $5,495,000 | $975.05 | $4,700,000 | $905.09 | 2,291 | 2,319 | 2,262 | 2,607 | 1.38 | |
| Avg | 4 | 3 | 3,035 | $564,074 | $168.05 | $531,568 | $159.93 | 88 | 134 | 83 | 105 | .96 | |
| Median | 4 | 3 | 2,757 | $374,990 | $142.77 | $360,000 | $138.51 | 55 | 99 | 54 | 63 | .97 | |
When we remove all the multi family properties, the data is as follows…
| Status: Sold (667) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 2 | 1 | 1,022 | $219,000 | $72.79 | $110,000 | $23.95 | -60 | -5 | -5 | .1 | ||
| Max | 7 | 9 | 15,917 | $5,495,000 | $975.05 | $4,700,000 | $905.09 | 2,291 | 2,319 | 2,262 | 2,607 | 1.38 | |
| Avg | 4 | 3 | 3,436 | $661,914 | $178.03 | $622,610 | $168.99 | 96 | 143 | 89 | 116 | .96 | |
| Median | 4 | 3 | 3,129 | $494,500 | $152.44 | $465,000 | $147.86 | 61 | 107 | 58 | 70 | .97 | |
The average sales price of a closed home in Windermere for 2014 was a whopping $622,610, shaking out at $168.99 a htd sq ft.
You wont find this data below posted anywhere, it is the breakdown of 2013… where there was a home that sold for over 5 million and one for over 6 million !
| Status: Sold (665) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 2 | 2 | 1,208 | $149,900 | $41.22 | $125,000 | $34.37 | -5 | -5 | .54 | |||
| Max | 9 | 9 | 11,456 | $6,500,000 | $706.06 | $6,500,000 | $706.06 | 2,020 | 2,087 | 1,793 | 1,879 | 1.3 | |
| Avg | 4 | 3 | 3,501 | $673,171 | $173.03 | $631,760 | $164.07 | 97 | 151 | 90 | 109 | .96 | |
| Median | 4 | 3 | 3,113 | $478,853 | $147.30 | $450,000 | $141.92 | 37 | 88 | 38 | 43 | .97 | |
There was little change from 2013-2014 in average sale or square foot price and a less than 4% change in median sales price.
WINTER GARDEN MARKET UPDATE
Winter Garden was on FIRE in 2014 !!! with resales jumping an amazing 10% in average sales price from 2013-2014.
Winter Garden Florida has seen an amazing transformation over the last 10 years, located directly west of Windermere , Ron the Realtor called Winter Garden home for over 6 years and continues to be a top selling Realtor in the town.
2014 was a year of massive growth in Winter Garden with numerous high end new communities breaking ground. The land around coveted Johns Lake has seen a massive surge in demand. With many more opportunities in 2015.
The resale market was just as strong in 2014,
| Status: Sold (1038) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 1 | 1 | $17,000 | $14.61 | $11,500 | $7.59 | -330 | -43 | -302 | -302 | .11 | ||
| Max | 7 | 8 | 18,330 | $1,690,000 | $1,186.53 | $1,690,000 | $1,145.42 | 1,268 | 1,368 | 1,257 | 1,915 | 1.52 | |
| Avg | 4 | 3 | 2,458 | $278,550 | $112.07 | $271,733 | $109.27 | 71 | 121 | 61 | 76 | .98 | |
| Median | 4 | 3 | 2,326 | $268,990 | $110.40 | $260,000 | $107.64 | 39 | 87 | 38 | 43 | .98 | |
Taking out the multifamily units (many which sold below 50k and have skewed the Winter Garden data) you can see a large jump in average prices.
| Status: Sold (871) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 1 | 1 | $17,000 | $14.61 | $11,500 | $7.59 | -330 | -43 | -302 | -302 | .11 | ||
| Max | 7 | 8 | 11,833 | $1,690,000 | $1,186.53 | $1,690,000 | $1,145.42 | 1,262 | 1,273 | 683 | 1,915 | 1.52 | |
| Avg | 4 | 3 | 2,639 | $304,388 | $115.38 | $297,008 | $112.49 | 68 | 119 | 60 | 76 | .98 | |
| Median | 4 | 3 | 2,571 | $292,640 | $113.38 | $285,740 | $110.44 | 39 | 88 | 38 | 44 | .98 | |
3 estates sold for over $1,000,000 in 2014 in Winter Garden and the average sales price ended up at $297,008 & $112.49 htd sq ft…. you can easily see why Winter Garden is so red hot with its neighboring town of Windermere selling at over 2X the average sales price, Winter Garden offers an ideal haven for value and infrastructure. Set just North of Florida’s Largest employer does not hurt either ! New 7 story Florida Hospital is set to break ground in the heart of Winter Garden in 2015 as well, only adding more high paying jobs to the local economy.
Here is how 2013 ended up, for your comparison…..
| Status: Sold (772) | |||||||||||||
| Beds | Baths | SqFt Heated | List Price | LP/SqFt | Close Price | SP/SqFt | DTC | DTCL | ADOM | CDOM | SP/LP Ratio | ||
| Min | 1 | 1 | 600 | $24,500 | $26.92 | $17,100 | $18.79 | -189 | -189 | .5 | |||
| Max | 8 | 6 | 7,428 | $1,999,000 | $387.76 | $1,700,000 | $346.94 | 1,168 | 1,230 | 1,168 | 1,168 | 1.67 | |
| Avg | 4 | 3 | 2,521 | $274,145 | $106.29 | $268,371 | $104.11 | 68 | 128 | 54 | 59 | .98 | |
| Median | 4 | 2 | 2,447 | $252,532 | $104.65 | $250,000 | $103.39 | 25 | 85 | 22 | 23 | .99 | |
Average sales price spiked over 10% from 2013 to 2014, dollar / sq ft went up 9% and the median sales price rocketed up over 14% …
Winter Garden has long been a favorite of Ron the Realtor for his investor clients, with many of his clients portfolios heavily invested in Winter Garden real estate over the last 15 years, continuing to outpace the Orlando market by double digits ! One of the many reasons Ron is so successful, he knows where to go to beat the market averages, every time.
NEW HOME SALES
New home sale numbers for the entire country did not hit the market but in Central Florida, New Homes are selling strong. In the areas I concentrate on, there are more new home options than in my entire career and many more coming out of the ground in the next few months
Buying new allows you plan your transition, get what you want and get the latest and greatest in electronics and efficiency.
Allowing you to market your existing home for sale half way through the process and get it sold before closing or shortly there after.
www.RontheRealtor.com still offers the only complete and comprehensive place to search ALL new home communities in Central Florida according tot he areas you want to live.
Just click the link below and you will have immediate access to all the new home communities, pricing and of course floor plans, all in one place !
Ron the Realtor New Home Search
If you are interested in building new call Ron to discuss the best communities in your price range, he has relationships with all the builders and will get your family the best deal possible.
When visiting a new home community make sure to tell the sales rep for the builder your working with Ron the Realtor.
INVESTMENTS
As any longtime reader of this publication is aware… Ron the Realtor LOVES to make money for his clients through real estate investments. Over the last 15 plus years he has made many millions for his investor pool.
The last year has been more challenging with the rapid increase in values in the areas and decrease of REO and short sale opportunities , this section of the news letter has changed.
A few years ago I posted a link to the top 10 best buys available every month. Those days are long gone.
Don’t get me wrong, money is still being made every day for my investor pool… but with the market tightening up and the fact that I do not require any membership or user id to access my newsletter on the internet, my days of providing this valuable insight is reserved to my investors.
You want to get involved in making additional money for your family through real estate ownership, call Ron to discuss your goals and expectations. No better day than today to get started. Phone is always on !
**RTR PREDICTION…Rental Rates in Orlando will rise almost 10% by end of 2015
2015 RTR FORECAST
In 2015 Ron the Realtor predicts a flattening out of this double digit appreciation we have been experiencing. Things are going to get back to “normal” with a 4-5% appreciation in median sales price in the Orlando Area,
THIS WILL NOT BE THE CASE IN WINTER GARDEN, I see the median sales price in Winter Garden to continue to crush the Orlando average, predicting 10-12% spike for 2015. Mainly due to all the high end new construction around Johns Lake and in Horizons West area. They will finally be breaking ground on the new 7 story Florida Hospital and many of the horizons west commercial tracks will also be shovel ready. This will continue to fuel higher prices and more demand for this already desirable area.
Windermere will continue to see high prices, there will be a 5-7% increase in median sales price by years end. The Chain of Lakes shoreline is some of the most desired dirt in all Central Florida. Large Tracts of land are rare and the ones that are available will be developed at premium pricing.
Rental Rates in Orlando will rise almost 10% by end of 2015.
Orlando will continue to grow and thrive in 2015, the development of high end tech and medical industries continues thanks to our Mayor and his committee. Rick Scott continues to bring business to Central Florida through tax incentives. Tourism is stronger than ever and the parks are filled to capacity all through the holiday season.
Orlando is truly one of the best places to call home:
- Affordable housing.. $40,000 less than national median average
- No snow… EVER
- No state income tax
- Florida Homestead Exemption
- less than 45 minutes from either coast
- States largest employer in its backyard
For these reasons Orlando will always have demand for housing. It is why Ron the Realtor calls it his home, it is the ideal place to raise your family.
RTR YEAR IN REVIEW
2014 was an amazing year for Ron the Realtor.
Final Personal Stats:
113 total sides closed
79 listings closed
34 Buyers sides closed
that is a 9.5 homes a month AVERAGE !.. or over 2 homes sold a week !
Sales volume for 2014 totaled $29,216,000.00 !
Ron the Realtor was ranked number 11 in closed sales volume for all of Orange County
Ron the Realtor was also awarded:
VOTED #1 Realtor for SW Orlando by Southwest Bulletin
*** thank you to all of you who voted for me, I am deeply touched. Thank you again.
Orlando Magazine’s Orlando hot 100 in Real Estate 9th year running
Zaggats 5 star in Customer Service 9th year running
The Who’s who in Real estate for selling in top 1% of the country
REMAX CHAIRMANS CLUB, this is the highest award the company offers world wide each year, Ron has earned this award 5 times !
RONS RANT
I was going to skip out on this issue but starting writing some opinions on the foreclosure numbers I posted and realized as I kept typing this should go in this section, so… Rons rant..
** RTR’s take on the foreclosure data, don’t get all excited about the lowest foreclosure starts since 2006 they are bragging about. There are still well over 3 million homes in default. Traditionally there are not many foreclosure starts over the holiday season. The banks will ramp this up in the coming months and instead of decreases you will see increases in foreclosure starts.
Our current governments regulations and policies are stifling small business, small business is the backbone of America. The Government has manipulated the formula to calculate the national unemployment rate for their own benefit. This single digit unemployment they are bragging about is B.S.
Obama Care has killed the full time worker, more and more of the workforce is part time status. Record food stamp and welfare assistance to keep the masses at bay.
I would predict at least 65% and as many as 90% of those 3 million plus delinquent homes will be foreclosed or short sold. No job, no mortgage. This is the bottom line if you really want to get real about it.
Until we elect political leaders that have actually ran a business or created actual jobs in the private sector this is the road we will continue to head on.
How much has your health insurance premium increased on Jan 1…? Mine went up 150%…. 150% and not one of my family members was ever sick, wtf?
How come no one is talking about our national debt hitting over 18 TRILLION ? does anyone think this is unacceptable?
Rons Rant covered ebola well over a year ago… this will make ebola look like baby shit
Kind of odd how we dont see anything about ebola on the mainstream news anymore , it is spreading uncontrollably with 8,000 confirmed deaths
Gay Marriage, Didn’t they have this vote on the ballot with 62% of registered voters in Florida vote AGAINST this just a few months ago? Even more troublesome is how did our government mobilize so quickly to exploit a bill that expired and take actions across every county so quickly on one 9th circuit judges ruling? .. they opened the court house at midnight to issue marriage licenses…. why at midnight ? who is paying for this additional staffing hours and security ? why cant this be done during normal business hours…
Im really scratching my head on this one. absurd if you ask me. I got my marriage license between 9am and 5pm.
This is very disturbing on EVERY single level from where I am looking at it. Should be for you as well. How can the government act so quickly in the opposite direction of the voting public yet again, and to mobilize so many counties so quickly and to even provide services after normal business hours.
Oh this might explain a little of it….”Osceola County commissioner Cheryl Grieb and her partner Patricia Daugherty were the first same-sex couple in Central Florida to receive their marriage license.”
I do not think this explains a lot of it though.
Only one person was there protesting at midnight ceremonies in Osceola and guess what… he got arrested, for carrying a sign. Charges were later dropped after they ruled his sign was not a hate crime? What? hate crime? I have seen videos of people burning flags and no one was arrested. What is wrong with our society right now?
In fact, me just stating the comments above alienates me in many circles of today’s America, even though nothing was said that was not true. moving on….
Im confused again…
how do 70 people lose their kids and then leave them?
Im sorry confused again, how with all the video evidence has there not been one arrest in this ?
Until next time , be safe and healthy. I seem to be very confused in this rant…lol.
SUMMARY
Thank you for taking the time to read these ramblings. I hope you found the time well spent.
I want to thank all of my clients of 2014, you are now part of my real estate family. I am always here for you.
A special thanks to the many of you that referred my name to a friend or family member. You know who you are and so do I. It is honestly the best compliment I can ever receive, your referral.
I am only as successful as my clients, I thank you for the opportunity to represent you on your real estate transaction.
You allow me to live the true American Dream. I am forever thankful for your business.
God Bless our troops overseas and the families they leave behind, I will never forget your sacrifice. Freedom is never Free.
