Dawn Deegan's Real Estate (mostly) Blog

Jan 28, 2014, 6:11pm EST Breaking: Orange County approves Trader Joe’s project in Dr. Phillips                          Antunovich Associates Trader Joe's will anchor a new shopping center in Dr. Phillips. <a target="_blank" href="http://adclick.g.doubleclick.net/aclk?sa=L&ai=CBUecCxfpUoSEGIWDwQHikoDIAYmSuu4EAAAQASAAYMn-sofco9wQggEXY2EtcHViLTk3MzYwOTI2MDQ2Nzc1MTbIAQngAgCoAwGqBOcBT9BiJ7xJEUDtJJfJ2T1dcfbgVsQeDpjEOTNBET4aRtlspumfBtD-QJy5U0cgK2SVuTpPd5CnnhiX0vIul5rX9ywLnDVTC-tfQ-zlg-yiQGZRjKNi40kwagSV1C_t91O17_j3GHozb_c90IuMC_VAAKeqf8yAe_DyO2ZUcxX3tspwXRGFtADfWAuxyYRNIJpEx_xorSLCahS7P49gm0XFsHOJcuDpiGkHjki3zZY4UxbCX6J2WLnLMrXBRqDUzDPgvirx_pohgLJfFuOiW0ULkId0EPjKs61h6KxNvTjFaG7YayE0WOwb4AQBoAYe&num=0&sig=AOD64_1pIzY7wzj7Vp6CLelyf5SnSJXxqQ&client=ca-pub-9...

Is it a Seller's market?  Is it a Buyer's market?  If we are to go by the traditional rules of less than 6 mos. supply = Seller's market ," well, then: it's a Seller's market, as we currently have a 3.72 mos. supply.  But these are no traditional times.  There is a tension here in the Greater Orlando Florida area, caused by 1) the high number of distressed homes on the market vs. 2) the low inventory numbers.  Low inventory numbers cause prices to go up (the old supply and demand rule), and our overall median price is up for March by 12.5%. The clincher:  Last month Traditional sales (Buyer/Seller, period) accounted for only 40% of the market.  And while traditional homes prices are up by 3.3%, Short Sales and Bank Owned prices are down <1% and up 5.6% respectively.   Nevertheless, a traditional sale is RED HOT in this market, as buyers still long to side-step the often grueling what-if process...