Central Florida Real Estate Blog

The following are the market sales statistics for Longwood, Seminole County, Florida for January 2008.  Longwood is made up of the zip codes of 32779 & 32750.  For purposes of this analysis we are not only splitting the data according to zip codes, but also single-family homes vs, condominiums, townhomes and villas.

32779 - Single-Family Homes

17 homes sold during the month of January.

The average sales price, which is the total sold volume divided by the number of homes sold is $820,118.

The median sales price, which means that 50% of the homes sold for more and 50% of the homes sold for less, is $811,000.

The most expensive home sold for $2,350,000 and was on the market for 10 days.  It was a 6 bedroom, 6 bath and 2 half baths in a 7226sf home with a 3-car garage, a heated swimming pool and spa built in 2005 on .57 acres of land with golf frontage in a guarded and gated community with a game room, home theater, custom cabinetry and hand-distressed wood floors.  HOA is $572.36 quarterly.

The least expensive home sold for $239,000 after 48 days on the market.  It was a 5 bedroom, 2 bath, 2-car garage home with 2356sf built in 1974, with an in-ground pool and a HOA of $385/annually.

The average sales price for the same period a year earlier was $531,269.

32779 - Condos, Townhomes & Villas

3 homes sold

The average sales price was $163,933.

The median sales price was $141,000.

The most expensive sold for $222,000 and was on the market for 165 days.  It was a 3 bedroom, 2½ bath townhome with a 2-car garage in 1438sf built in 2005 in a gated community with corian counters, tile and carpet with a monthly maintenance of $227.

The least expensive sold for $128,000 and was on the market for 88days.  It was a ground floor 2 bedroom, 2 bath condo with a 1-car carport in 1143sf built in 1974 in a guarded community, with an updated kitchen and corian counters.  The community offers natural spring, sand beach, clubhouse, health spa, pools, tennis courts and walking trails. The annual association fee is $1182.78 with a monthly maintenance of $240.

The average sales price a year earlier was $210,000.

32750 - Single Family Homes

11 homes sold

The average sales price was $244,582.

The median sales price was $230,000.

The most expensive home sold for $375,000 in 138 days.  It was a 4 bedroom, 3 bath, 2 car-garage home with 2885sf built in 1971 in pre-foreclosure across from a golf course with a pool, parquet floors, fireplace, guest suite, golf cart with an optional HOA.

The least expensive home sold for $170,000 in 90 days.  It was a 3 bedroom, 2 bath home with a 2-car garage in 1240sf built in 1980 sold as a short sale with a fenced backyard, gazebo and no HOA.

The average sales price a year earlier was $258,288.

32750 - Condos, Townhomes & Villas

There were no condos, villas or townhomes sold in January in 32750.

The average sales price of a year earlier was $116,000.

For information on Longwood and Seminole County real estate and Longwood and Seminole County homes for sale in addition to Longwood and Seminole County relocation contact Marc Grossman, your Longwood and Seminole County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website. 

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/  -  407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

The following are the market sales statistics for Altamonte Springs, Seminole County, Florida for January 2008.  Altamonte Springs is made up of the zip codes of 32701 & 32714.  For purposes of this analysis we are not only splitting the data according to zip codes, but also single-family homes vs, condominiums, townhomes and villas.

32714 - Single-Family Homes

7 homes sold during the month of January.

The average sales price, which is the total sold volume divided by the number of homes sold is $341,214.

The median sales price, which means that 50% of the homes sold for more and 50% of the homes sold for less, is $365,000.

The most expensive home sold for $512,500 and was on the market for 160 days.  It was a 5 bedroom, 3 bath 3178sf home with a 2-car garage, a screen enclosed swimming pool and heated spa, built in 1984 on .45 acres of land, with hardwood floors, an updated kitchen and master bath.  The community offers a large playground, basketball and tennis courts, a picnic pavillion, volleyball court, dock and boat ramp to a ski lake with a HOA of $260/year.

The least expensive home sold for $175,000 after 40 days on the market.  It was a 3 bedroom, 2 bath, 1-car carport home with 1245sf built in , with an in-ground pool and new roof with no HOA.

The average sales price for the same period a year earlier was $329,455.

32714 - Condos, Townhomes & Villas

8 homes sold

The average sales price was $127,368.

The median sales price was $122,450.

The most expensive condo sold for $190,000 and was on the market for 112 days.  It was a 2 bedroom, 2 bath ground floor unit with 1396sf built in 1986 in what some consider a luxury guarded community with a pool, tennis court, workout room, racquetball court, and recreation room/library with a monthly maintenance of $197.

The least expensive sold for $83,980 and appears to be sold the day that it was listed.  It was a 1 bedroom, 1 bath condo conversion with 548sf built in 1988 in a gated community, with a pool, spa, clubhouse, fitness center, 2 tennis courts, grilling and picnic areas with a monthly maintenance of $111.68.

The average sales price a year earlier was $139,763.

32701 - Single Family Homes

7 homes sold

The average sales price was $188,942.

The median sales price was $189,000.

The most expensive home sold for $225,000 in 203 days.  It was a 3 bedroom, 2 bath, 2 car-garage home with 1605sf built in 1998 located on a double lot of .32 acres with tile, a covered patio, garden tub and separate shower in the master bath with no HOA.

The least expensive home sold for $160,000 in 42 days.  It was a 3 bedroom, 2 bath home with no garage and 1535sf built in 1958 located on .55 acres with a circular driveway with newer windows and a/c and no HOA.

The average sales price a year earlier was $192,333.

32701 - Condos, Townhomes & Villas

2 sold with an average sales price of $141,950.

The more expensive condo sold for $200,000 in 108 days.  It was a 3 bedroom, 2 bath ground floor unit with 1398sf built in 1970 which has been totally redone with a new kitchen, new baths, tile, fixtures, plumbing and electrical.  It is located in a community which has a pool, tennis courts, fitness center and access to a large ski lake.  Maintenance fees are $317.99/month plus a monthly assessment of $28.

The other condo sold for $83,900 in 233 days.  It was a 1 bedroom, 1 bath condo with 500sf built in 1980.  The community offers a swimming pool, tennis courts and shuffleboard with a monthly maintenance fee of $110.37.

The average sales price of a year earlier was $130,053.

For information on Altamonte Springs and Seminole County real estate and Altamonte Springs and Seminole County homes for sale in addition to Altamonte Springs and Seminole County relocation contact Marc Grossman, your Altamonte Springs and Seminole County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website. 

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/  -  407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

In answer to Ms. Bukaty about my not yet writing poetry as of yet.  I've always enjoyed Haiku, which has a 5-7-5 iambic pentameter.  This is a simple one about why I do what I do.

I'm a realtor

My job is to help people

I love real estate!

Eventually, I will have something more poetic to write or a short story, whichever comes first.

By definition procrastination is the act of deferring tasks to a later time.  According to Wikipedia, "The psychological causes of procrastination vary greatly, but generally surround issues of anxiety, low sense of self-worth, and a self-defeating mentality."  As true as this is, it is very disconcerting when you note that some forms of procrastination are self-destructive. 

We all procrastinate in one way or another, even if you didn't think that you did.  Accordingly, there are both good and bad procrastination skills.  As to the good ones, someone may delay doing a task to do something of more importance.  In other words it is a form of prioritization.  Even though this may be good, the fact of the matter is that you are going to have to tackle that other task anyway.  Otherwise the situation will get worse (like putting off mowing the lawn) and in some cases out of hand. 

One of the worst forms of procrastination besides not doing anything at all is the one where we'll perform tasks of less importance.  What we'll do is say to ourselves that we've accomplished a lot that day, whether it be errands or whatever.  We'll even reward ourselves for completing these tasks.  But we leave behind the task of more importance that is still waiting there and not getting done.  What makes this so detrimental to us is that it doesn't feel like we are procrastinating. 

You may even wonder if I'm procrastinating from doing something by writing this post.  Actually, I'm writing this for two purposes - one to relay my thoughts on this subject and also for myself on a personal level.  I came to a realization last evening, which really has nothing to do with procrastination, and needed an outlet. 

One of the questions that we should be asking ourself is ‘What's the best thing that I could be working on?'  And then follow that up with, ‘Why aren't I?'  This is probably not easy for some to ask themselves because we have to be introspective to answer it properly. 

Several reasons for our procrastination could be fear, whether it be the fear of failure or success; perfectionism, because we may expect too much of ourselves and are therefore afraid of not attaining that level or goal; or, we're too busy to perform those tasks.  Many times we'll find that we'll perform a lesser task because of the instant gratification as opposed to a more intense or larger task that will usually give use greater satisfaction down the road in the foreseeable future. 

Procrastination tends to reinforce itself and that can only become a vicious cycle.  Part of the problem is that we are too intelligent and will rationalize behavior such as this. 

While writing this piece, I came across an article in Psychology Today, Procrastination: Ten Things To Know.  Is your procrastination hindering you?  by Hara Estroff Marano.

So, what are you going to do now?

For information on Central Florida, Orange County and Seminole County real estate and Central Florida, Orange County and Seminole County homes for sale in addition to Central Florida, Orange County and Seminole County relocation contact Marc Grossman, your Central Florida, Orange County and Seminole County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website. 

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/  -  407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

First a little history.  The Federal Reserve System (commonly referred to as The Fed) is the central banking system of the US and is made up of 12 regional banks.  The Fed manages the nation's money supply via its use of monetary policy.  This refers to The Feds ability to influence the availability of money and credit which affects interest rates and therefore the economy. 

Are we good so far?  For our purposes here we are going to have a limited discussion and only touch upon one area of the monetary policies. 

Banks are required by The Fed to have a certain portion of the total value of their demand accounts on hand.  If a bank falls below this level, it can borrow the funds from another bank that has a surplus with The Fed.  These are typically overnight loans.  The interest rate on these borrowed funds is determined by the banks themselves but is influenced by The Fed via the Federal Funds Rate.  These are more closely aligned with short term interest rates.  This is the rate that we've been hearing so much about in the news.  It must be understand that this is a target rate set by The Fed.  The rate that is actually paid by one bank to another is negotiated between the two parties.  This has nothing to do with mortgage rates. 

Now we come to mortgage rates.  The Fed DOES NOT control mortgage rates.  Mortgage rates are market determined and are on the long term end of the interest rate spectrum.  These are generally determined by the bond market.  It's a financial market where debt securities are bought and sold.  And this brings us to Mortgage Backed Securities.  You may not have heard of these specifically, but you've most likely heard of Fannie Mae, Freddie Mac and to a lesser extent Ginnie Mae.  Basically what they do is package many mortgages together and issue them as MBS's.  In order to get investors to buy these, they must pay rates of interest that are competitive with alternative interest-paying investments such as Treasury bonds.  There is a correlation between mortgage rates and long term interest rates.  Long-term rates are governed by the overall health of the economy, and the expectations of future growth.

As you can see one is long term whereas the other is short term.  So when you hear that The Fed cut the rate, you can not always expect an equal and immediate change in the mortgage rate.  In fact, in many cases the opposite has occurred.

For information on Central Florida, Orange County and Seminole County real estate and Central Florida, Orange County and Seminole County homes for sale in addition to Central Florida, Orange County and Seminole County relocation contact Marc Grossman, your Central Florida, Orange County and Seminole County Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website. 

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/  -  407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

It was one of those glorious winter days in Florida - mid 70's with the sun shining brilliantly.  He was sitting on the beach alone with his thoughts, yet not alone for there were others. 

There was the man and his son on the jetty throwing out their lines in hope of a catch that they could bring home and savor.  There were the ubiquitous strollers on the beach, some exercising and some for the mere pleasure of just being there.  He understood.  He loved this part of the beach away from the hoopla of the major touristy areas.  It wouldn't have mattered anyway for he always stated that give him the ocean, the sun and a book and he'd retreat into his own little realm.  He was a very contented person.

The sun was shining bright on him.  It was one of those cloudless days with a brilliant azure blue sky.  The waves were lapping wistfully at the shoreline creating a lovely rhythmic sound, one that could send you into a peaceful slumber if you lay back and close your eyes.  The wind was gently caressing his cheeks and hair.  He was enveloped in the warmth of the day. 

His thoughts were everywhere but yet at the same time nowhere.  He'd thought of many things that he'd done in the past.  He ruminated about what it would be like if he'd done some of those things differently.  Some he would have liked to have performed antithetically, but knew elsewise.  There were things that he'd done in the past that created angst in his life.  He surely could have done without that.  He was not a bad person in any sense of the word, just misguided at times.  Led down the wrong lane, the self-destructive path.  But he knew better now or so he would have liked to have thought so. 

He was alone with himself, yet did not feel alone.  He knew through his musings that he'd not have done things differently for that is what has led him to where he is.  He'd been here before and always came back with the same answer, but he couldn't help but wonder.  What if? 

He was at calm and peace with himself and the world around him.  He was solidified in knowing who he was, but still had to question, Who am I?  He wondered if we ever know the real answer to this question or is it something that is continually evolving as that with our lives. 

He was sitting on the beach alone, but yet not alone at all.

Today, I attended a seminar by a nationally renowned author and finance expert.  I was totally blown away by the concepts that he was espousing because many of these things have attributed to the situation that we are presently experiencing.  Now granted, he did make some good comments and suggestions to be able to sell more homes, but here are a few points that I felt were very disturbing, not to mention his demeanor and attitude:

• Use the equity in your home to purchase investment properties and lower your taxable income.  While this can be true, didn't we learn from using our homes as ATM's?

• He mentioned that a lot of people should use their VA eligibility to purchase a home instead of going the conventional mortgage route.  OK, no real problem there except possibly for the funding fee.  But his main contention is that if someone has this available and they do not qualify for a conventional loan, they can go VA.  Additionally, if they put 10% down then there is no debt ratio to be looked at.  Let's see purchasing a home that they possibly can't afford - do you see a problem?

• Buydowns - Now while buydowns are definitely something to take into consideration, the reason that most use it is not only for the lower rate during a certain period, but also because of the fact that the buyer has to only qualify at the lower rate.  Granted, a 30-year fixed buydown might surely be something to consider for both parties if executed correctly.

• Interest Only Loans - both ARM's and Fixed - You're going to love this one.  The suggestion is that you should take the savings that you would have paid towards the principal and put it into your company matching 401K and that you will make more than you would have paid in principal and your home will still appreciate.  Now granted this is a theory and may sound good on paper, but the reality of it is that the money isn't going to make it into the 401K.  This is akin to those hawkers that tell us to use our equity as a checking account and you'll pay off your home in x years.  While in theory this may sound good, the reality is quite something different entirely. 

OK, so today is February 6, 2008 and this guy is being paid to go around on the circuit and profess these theories.  Geez Louise, this just blew my mind.  I couldn't stand to listen anymore and stay to the end.  Had better things to do with my time, but he was supposedly going to tell us how to raise our credit scores 50 points within several weeks by using a credit card.  Hmmm.  That sounds scary already.

Have a great, profitable day and let's stay ethically and morally responsible.  Hopefully if enough of us do we can run these shysters out of business.  I don't have an issue educating the public, but these people make it so much harder. 

Additionally, the general public should contact their trained, licensed professionals to better understand the intricacies and implications invovled with mortgages and home buying.  We are there to assist and guide you through this process. 

For more information on Central Florida and Orlando real estate and Central Florida and Orlando homes for sale in addition to Central Florida  and Orlando relocation contact Marc Grossman, your Central Florida Realtor @ 407-463-1034.  Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his profile & website. 

Marc Grossman, GRI  -  http://www.OrlandoHomes-4u.com/  -  407-463-1034

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!