Kissimmee Foreclosure Filings on the Rise

  Kissimmee real estate saw a huge spike in foreclosure filings last month, showing that the halted foreclosures from “robo-signing” issues in late 2010 are finally coming to the forefront, showed a new report from Realty Trac.   In the month of January alone Lake, Orange, Osceola and Seminole  counties  reported a whopping  3,537 foreclosure filings, or one in every 266 households. That’s almost twice as many filings as there were in December 2011. That puts the Orlando area at No. 14 for the most foreclosures among the nation’s largest metro areas.
    That means that there will be a whole lot of people trying to do an Orlando short sale. Once the foreclosure proceedings begin, the homeowner needs to take action one way or the other. Although many homeowners will attempt a loan modification, most of them will come to the realization that their best option is to stop the foreclosure by doing a short sale on their Orlando home.
   Lake County was the only county to see a drop in foreclosure filings with a reported 362 filings last month, which was 10 percent less than the 403 posted in December 2011.


The other counties foreclosure count was as follows:
• Seminole reported 566 filings in January 2012, which was 97.9 percent more than the 286 reported in January 2011 and 45.8 percent up from the 388 posted in December 2011
• Osceola had 657 filings last month, 89.9 percent more than January 2011’s 346 and 76.6 percent up from December 2011’s 372
• Orange posted 1,952 filings, about 47 percent higher than January 2011’s 1,327 and 30.5 percent more than December 2011’s 1,496.


      Experts predict that more foreclosures were coming, once issues were resolved by banks, who in September 2010 halted thousands of filings when it discovered the automated steps used to repossess delinquent borrowers’ homes wasn’t being checked thoroughly.


      If you or someone you know is in Foreclosure, get advice from an Orlando Short sale Expert to find out what is the best plan of action for you to take.  Contact us to set up a Free consultation with one of our Orlando real estate experts.

Renting Heating up the Orlando market

As 2012 begins to kick into full gear, the real estate market is already heating up. If you’re talking about rentals, that is.

        The truth is, renting has become the fastest-growing component of the overall real estate market over the last year, simply because fewer people are buying homes than they otherwise would in a healthy year. Falling home prices, incredibly-tight lending standards, and stubborn unemployment rates have all contributed to pushing the would-be buyers to the other side – renting.

        This doesn’t mean that renting is inherently “bad” – for many people, renting is the cheaper and wiser option. Especially if you’re renting a house for less than what your neighbor’s mortgage payment is for the same size house.  But for those who want to build up equity in a home, break free of a landlord once and for all, and purchase a home at severely-discounted prices, renting just will not do. Fortunately (or unfortunately), renting will have a big impact on buying and selling of Florida homes in 2012, perhaps even more so than in 2011.

         For sure, the rental market across Florida as well as the rest of the nation will continue to improve as it did throughout 2011. In many metropolitan areas in particular, vacancy rates have plummeted and rental prices have risen sharply. This trend may taper off a tad, but more or less will continue throughout the year – meaning people will be paying more money to rent the same apartment in 2012 as they would have in 2011. If you’re looking for a great deal on renting or buying a house in Central Florida contact me.