When most people think about Orlando, they think about a magical place in the sun with something for everyone and more to do than almost any other spot in the U.S. Of course, many also think about Disneyworld too.
All joking aside, Orlando is quickly becoming a favorite for homebuyers looking for value. In fact, in 2017, most media outlets are touting Orlando's favorable cost of living, great quality of life and job market as a reason it will quickly become a "hot" home market.
Of course, the same nationwide problems such as low inventory and rising home prices still exist in Orlando (Home values were up almost 11% in 2016 ), but they're balanced by a low cost of living, an average home price still around $200K, untapped suburbs and a very healthy projected rate of jobs growth (over 40% for the next 10 years) with low unemployment.
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Couple that with great weather, good schools and, of course, all the entertainment that abounds in the area and you've got a recipe for a great place to buy your next home.
So what 's the view of the Orlando home market "from the ground?"
"Interest in the Orlando area is really tempering the national problems of low-inventory and rising prices," said Ed Hru, top Realtor in the Orlando Area. "The most popular home buy is a single-family home in the $150k to $200K range for most of the buyers we serve."
And how about those rising home prices?
"Buyers in Orlando are becoming aware that prices are rising and that's driving interest in finding good deals now in areas and price ranges where they can benefit from increasing value," Ed says. "Homes that are priced right our area are continuing to move quickly."
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Ed also notes that rising mortgage rates in 2017 are a concern for affordability for some buyers; especially those who are trying to move quickly before rates climb even higher.
No matter the trends affecting homebuyers and sellers at the national level, Orlando looks like one of the bright spots for the coming year.
About Ed Hru - http://www.c21roorealty.com/
Ed Hru is a highly-experienced real estate pro in Orlando, FL with Century 21 Roo Realty who specializes in both on-market MLS properties and off-market homes listings. Ed is an expert in the local market and can help you get the most value for your home or find a home that's right for you. Are you a For Sale by Owner? Ed specializes in helping FSBOs market their homes better.
Selling a home in Orlando? Find out what your home is worth:
About the Author
Jason Polancich is founder and lead architect of HomePocket, a data-driven, residential real estate marketing and listing network. Polancich also founded SurfWatch Labs, a cyber data analytics firm founded in 2013 that provides highly accurate, timely and actionable information to businesses regarding the cybercrime threats they face. Polancich is a serial entrepreneur focused on solving complex internet security and cyber-defense problems. Novii Design, a company he co-founded in 2005 with Rebekah Lewis-Polancich, was based on his contributions to cloud architectures, distributed computing, data analysis and systems integration. The company assisted the U.S. Intelligence Community and Department of Defense in building some of the largest data warehouse and analysis systems ever put into operation within the government and defense contracting sectors. Novii Design was sold to Six3 Systems in 2010.Follow on Twitter More Content by Jason Polancich