Orlando Short Sale, Foreclosure Assistance for Orlando and Surrounding areas

Orlando – Orange county combined short sales for 2009, according to the MLS were 2512 properties, the average price was $165,373, and the days on the market were 165. The highest priced property which sold as a short sale was 11710 LAKE BUTLER BLVD, WINDERMERE, it was listed originally for $8M and sold for $3M, what a great deal. From 2008 to 2009 short sales increased by 1841 units, from 671 in 2008  to 2512 in 2009. While this is a spectacular increase in short sales in 2009, in comparison to the 7451 short sale inventory currently on the market it is a rather small amount and this is where the problem is. Banks are still sitting on the inventory for months, indecision and bureaucratic days in processing them is driving buyers away and property values further down, instead of getting them off their books and maintain property values. A short sale property which is on the market for $125,000 now will be worth less in 2010 and also is keeping the housing inventory up. Orlando short sales are also competing against 2085 bank owned properties and 5083 non distressed properties, so the short sale inventory is 50% of the combined none distressed and bank owned housing inventory. 2010 will not show an improvement in regards to short sales and the overall real estate market will continue to suffer; more distressed homes will come on the market because of the Option ARM mortgages adjusting in 2010, 2011, 2013 which will have a significant impact on the upscale housing market. The highest priced short sale in Orlando is 5539 EMERSON POINTE WAY, ORLANDO, FL, marketed by Mainstreet Realtors a 5700 lakefront property built in 2007 located in the EMERSON POINTE subdivision located in the Bay Hill area of Orlando. If you are in need of short selling your property, I have done over 50 short sales so far, please go to www.1-2-3-foreclosurestopped.com and I can help in the selling of your property.