If you have always wanted to buy your house in Orlando to move to our city or to invest in an income rental property, this is the perfect time to start the buying process, don’t wait any longer!
After a complicated year worldwide, such as 2020, and with so many lessons learned due to the pandemic, we all look to 2021 as one of hope and opportunities, to make our dreams come true.
Many of you have contacted me in the past, because want to move to Orlando, or at least are evaluating for the future. Others said want to buy a rental property as investment. I can tell you, this is the time to make your decision.
This is why housing economists are predicting a great year for the real estate industry:
Orlando will continue to welcome newcomers of all kinds in 2021. We have seen many people from areas like New York, Boston, and even California, interested in moving to our region. In addition, people from other countries continue to move here. That’s why the demand for homes is not only to buy, but also to rent. Orlando is more than the “Theme Capital of the World”. The city has great weather all year long and is a great place for residents of all ages. Also the price of properties is low compared to many other places.
According to the Orlando Regional Realtor Association, property prices increased in 2020 and the median home price was 9.1% higher than the previous year. In addition, there are fewer homes on the market, but they are selling quickly. For example, in November 2020 there was a 20.4% increase in sales over November 2019. With that said, the sooner you can start your buying process, the more you will benefit from obtaining a great property with the best value for your money.
When buyers find the perfect property, they immediately make an offer. They know that with more buyers than available homes, they may lose the opportunity to buy the home they want.
Mortgage rates are at all-time lows. If you buy your property with a home loan that means a huge savings. In 2020 the Federal Reserve cut drastically the interest rate as one of the measures to stimulate the economy. The real estate market had one of its best years in a long time, and amid the pandemic, there is a lack of houses for sale because there are more buyers than properties available. We can’t predict how long the low interest rates will last. Act now to take advantage of this great benefit.
Sellers are getting multiple offers, and most of them are requiring the full price, without accepting discounts at the time of making the offer. But at the same time there still wonderful opportunities in our market. For this reason, it is important that you have the support of one of our Viva Orlando Realty professionals, experts in real estate, who know how to present the best offer for your purchase.
Remember, our services are at no cost to you as a buyer. Call or send me an email today: Milena@vivaorlando.com or 407.922.4620.